Loading ...Flamingo International Group is targeting for 2008 the attainment of a sales volume of 210 million euros, up by approximately 40 million euros from 2007, Flamingo International director general Jiri Rizek announced on March 4, in a press conference.
Net estimated profit in 2008 is 2.6 million euros, almost five-fold higher than in 2007.
For 2008, the company’s representatives estimate a market share of 18 percent and an annual growth of 1-2 percent, until 2009.
Last year, Flamingo International Group recorded revenues of 171.4 million euros, ten million euros above the group’s initial estimations, a net profit of 528,000 euros and EBITDA of 1.1 million euros.
Flamingo International was focused in 2007 upon consolidation of the main business line on the domestic market and on expanding the Flanco World network, through the opening of 12 big surface stores in the most important regions of the country.
“Flamingo opened last year 6,000 square meters of sale spaces (45 small stores) non-profitable, as well as 15,000 square meters (12 larger stores). Flanco World stores covered at last year-end 53,000 sq m, with a total of 124 stores”, stressed Dragos Simion, president of the Administration Council of Flamingo International Group.
Flamingo International Group is active on the market in Romania since 1994, having as its main activity object retail of IT&C and electronic products, as well as home appliances, currently being the second biggest player on the respective market.
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