TEILOR Holding SA, a group of companies that includes the chain of luxury jewelry stores, TEILOR, the financial lending company Invest Intermed GF IFN, and Teilor Invest Exchange, posts a combined turnover of the three entities of 282.7 million lei, an increase of 47% compared to 2020, EBITDA of 45.3 million lei, an appreciation of 10% than in 2020 and a net profit of 26.7 million lei, a decrease of 13%.
“In 2021, we recorded significant increases in our activity, but we also invested heavily in developing TEILOR Holding’s business lines. Investments focused on expanding further both locally and internationally. We also continued to invest in the development of the team, increasing performance of human capital, and the company’s digitalization. We are satisfied with the results recorded by each company in the Group. The capital raised from the BVB investors at the end of last year has been put to use since then, and we are confident that it will start to produce results in 2022. As we continue our accelerated expansion plan, we do not exclude the opportunity to access additional capital from BVB investors. This year we intend to continue the development at the group level and to increase all the performance indicators, as our main objective is to reach a turnover of 1 billion lei at the group level by the end of 2026,” stated Mircea Varga, Member of the Board of Directors of TEILOR Holding.
Regarding the financial results registered by the three entities within TEILOR Holding, in 2021, the chain of luxury jewelry stores TEILOR recorded a turnover of 231.5 million lei, an increase of 65% compared to 2020, an EBITDA of 33.3 million lei, +46% and a net profit of 19.8 million lei, a 17% increase compared to the previous year. The growth was supported by the diversification of the products sold, the investments made in marketing and brand recognition, and the investments made in the expansion of stores in Romania and internationally. In 2021, TEILOR expanded to Hungary, where the company opened two stores in Budapest – Allee Mall and Etele Plaza, and two new stores in Warsaw, Poland, in Arkadia and Zlote Tarasy shopping malls. The Bulgarian subsidiary of TEILOR also completed the renovation works started in 2020 at Serdika and The Mall stores.
TEILOR currently operates 61 stores in Romania, Poland, Hungary, and Bulgaria. At the international level, TEILOR’s plans include consolidating in the company’s markets, Poland, Hungary, and Bulgaria, through opening new stores and entering new markets in Central and Western Europe. TEILOR’s goal is to open 60 stores outside Romania in the long term. The experience gained in the last five years, during which the store network has grown from 7 to 61 locations, will contribute significantly to achieving this goal.
The financial lending company, Invest Intermed GF IFN, registered in 2021 a turnover of 46.8 million lei, a 3% increase determined by the negative balance of financing the activity. This aspect has significantly improved at the end of 2021 with the allocation of funds raised from the bond issue by TEILOR Holding, which will produce visible effects as of 2022. Invest Intermed GF IFN ended 2021 with a net profit of 7.3 million lei. The company plans to constantly develop the network by opening new agencies in areas with potential and where Invest Intermed GF IFN has a local presence, but it fails to cover the entire demand.
The third entity within the holding company, Teilor Invest Exchange, registered in 2021 a turnover of 13.5 million lei, a 38% increase compared to 2020, and a net profit of 4.5 million lei. The growth was driven by expanding the company’s business, which reached 73 agencies at the end of 2021.
In November 2021, TEILOR Holding carried out two private placements, one in euro and one in lei, raising 45 million lei from BVB investors, the largest private placement for corporate bonds on the AeRO market of the Bucharest Stock Exchange. The two bond issues, in euro and in lei, are traded on this market as of 21.12.2021, under the stock market symbols TEI26 and TEI26E.