EVOhoreca, furniture supplier for HORECA industry: 10% business growth at nine months

EVOhoreca, one of the biggest players in the HORECA furnishing solutions market, closed the first 9 months of the year with a turnover of 1.6 million euros, a 10% increase compared to the same period of the previous year. This positive dynamic comes primarily against the backdrop of an increase in the average order value, which reached 16,500 euros, representing a 10 percent increase compared to 2022, as well as increased operational efficiency that contributed to improved profitability.

The number of orders is slightly decreasing, a trend that has been evident since 2022. However, the value of orders continues to rise, driven by the dynamics in the HORECA industry, where entrepreneurs invest to strengthen their market position. Most orders are concentrated in the hotel sector, an area where Romania still has room for growth, resulting in an increased number of projects.

“The average order has shown a strong upward trend, which began last year. Customers are increasingly opting for higher quality, more sophisticated, and unique furnishings, aiming to provide their end customers with a complete experience rather than just a dining or accommodation space. Additionally, the hotel sector is witnessing increased activity, with many improvement projects across various sizes, particularly in seaside locations. Specifically in the boutique segment, our customers are seeking products that set them apart in the market and contribute to higher customer retention rates,” stated Alin Trușcă, founder and general director of EVOhoreca.

Furthermore, the average order value for projects in the hotel segment is 45,000 euros, while for other projects it remains at 16,500 euros. The largest order registered this year slightly exceeded the threshold of 100,000 euros.

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HORECA Leasing services contribute nearly 10% of revenues in Q3

An essential factor in the market’s dynamics is the projects financed through operational leasing, a service made available by EVOhoreca to its clients in the first part of this year. Consequently, by the end of Q3, almost 10% of the revenues recorded at the semester level originate from such projects.

“In a market segment influenced by continuous economic changes, cash flow is of utmost importance, and an increasing number of our customers prefer this financing option to preserve their funds for other investments. For EVOhoreca, this translates into projects with a healthy budget and a swift execution. We will continue to offer this service in collaboration with our partners, and we have expanded our partnership network to provide this financing option to our customers. We consider it a highly viable alternative for those who aim for steady growth but might not always have the necessary funds for equipment and furniture investments,” Alin Trușcă added.

Increase in International Clients

By the end of the year, the company anticipates a year-over-year turnover growth of 10-15% and a continuation of the upward trend at a similar pace for 2024. Among the investments contributing to EVOhoreca‘s organic growth is the expansion of the customer portfolio in countries such as Germany and Great Britain, for which specific investments will be made, particularly in the area of online presence, without opening physical representations in the coming year.

“In the last 10 years, EVOhoreca has become a trusted supplier for customers in 12 European countries, and we continue to focus on international customers, aiming for them to represent 20-25% of our turnover in 2024. It is a market where we are competitive, offering an excellent quality-price ratio and efficient operational processes, enabling us to respond quickly to customers’ needs, regardless of the destination country,” concluded Alin Trușcă.