SIPEX: 4% increase in turnover, supported by the sales in the B2B channel

Aurel Dragan 13/11/2023 | 16:52

SIPEX, one of the largest distributors of construction and finishes materials from Romania, listed on the Bucharest Stock Exchange, on the AeRO market (stock symbol SPX), with a 26-year presence in this segment, recorded a 4% growth in business during the first 9 months of 2023, compared to the same period in 2022. The turnover reached RON 236 million, supported by a 13% increase in sales from the B2B channel.

“We have a history of a business that has remained profitable in any context, whether it is an economic, social, or pandemic crisis context. We have seen growth in both turnover and profit in a challenging macroeconomic environment and in a construction sector affected by various challenges. We have continued to focus on developing partnerships and expanding our product range. We are flexible, adapting our offerings continuously to meet market expectations, and efficiently managing the stocks, factors that have supported the advancement of sales. Our objective remains to maintain profitability and grow the business on solid foundations,” said Irinel Gheorghe, CEO SIPEX.

The net profit recorded in the first 9 months of 2023 was RON 3 million, with the main category of operating expenses represented by merchandise expenses, accounting for 85.27% of the total operating expenses.

Additionally, on August 23, 2023, SIPEX’s Board of Directors was re-elected for 4 years as follows: Mr. Constantin Irinel Gheorghe, President; Mr. Gheorghe Constantin, member; Mr. Lucian Azoiței, member.

SIPEX operates an integrated business model with three lines of business: sales and distribution of materials and finishes for construction, service provision (technical consulting), and the sale of colored finished products. Distribution is carried out through three channels: traditional retail, business-to-business, and the company’s own online store, with applications for mobile, tablet, and laptop.