EVOhoreca, one of the relevant players in the HoReCa fitting solutions, ended 2022 with a turnover of 1.6 million euros, a 33% increase compared to the previous year. In 2022, the company invested 100,000 euros in increasing storage space, inventory, and product portfolio, amid the revitalization felt in the industry after the lifting of all restrictions caused by the pandemic.
EVOhoreca had the best fiscal year since its establishment in 2011. The company’s business in 2022 even surpassed the results of 2019, considered the best year before the onset of pandemic restrictions. Also in 2022, EVOhoreca organized the first Black Friday campaign in the company’s history, with a positive impact on sales, with about a third of the stocks being sold out in the first 24 hours of the campaign.
“We managed to exceed the results of 2019, the best year up to that point, by placing a high emphasis on streamlining operations by investing in logistics, and products and equipping assembly teams with new machines and equipment. We also turned our attention even more to the online area, where we invested in the promotion to new customer niches”, said Alin Trușcă, founder and CEO EVOhoreca.
Regarding orders, their number was 18% lower than the previous year, but their value increased by 33% YoY. This was a result of maintaining the focus on contracting premium projects, a trend that the company aims to continue in 2023.
“Unlike the years before the pandemic, we had fewer projects and sales of entry-level products, which is explained by the fact that there were fewer new companies, which traditionally have smaller budgets. Those who invested in Horeca fittings were established, validated brands that wanted to differentiate themselves through quality and design. All of them were able to access funding from European funds in 2020 and 2021, which, of course, helped”, explained Alin Trușcă.
Average project value increased by 150%
Thus, if in 2019, the average value of a fitting project was 6,000 euros, in 2022 the average rose to 15,000 euros, and the largest project was 100,000 euros. The most sought-after EVOhoreca products remain chairs, tables and modular sofas.
Regarding the distribution of online vs offline revenues, the EVOhoreca.ro online store generates about 15% of the turnover. Customers who choose to buy online usually purchase off-the-shelf, ready-to-install products that do not require customization. Over 30% are customers who have had at least one custom order before.
In the last 10 years, EVOhoreca became a fitting supplier for customers from 12 European countries and will continue in 2023 to focus on international clients, which, according to estimates, will generate about 20% of the turnover in the next year. Most international orders came from Germany, France, UK and Spain.
15% estimated turnover increase in 2023
For 2023, the company aims for a 15% increase in turnover and the expansion of projects for hotel fittings.
“In 2023 we want to continue the investments started in 2022, which will help us to strengthen our position in the segments where the dynamics are already high – such as office fittings, restaurants, terraces, canteens, but also the consolidation of a business line launched in 2020 – hotel equipment, for which we invested in portfolio diversification and more. Constant collaborations with specialized designers will also help us in this direction, so we can offer turnkey projects, efficient both in terms of costs and delivery times”, said Alin Trușcă.