The eMAG group, one of the main players in the online retail market in the region, ended on March 31, the financial year 2022 with a loss from operations of USD 34 mln compared to a profit of USD 80 mln in the previous year, according to the annual report of the Prosus group, the majority shareholder of the retailer.

The retailer is active mainly in Romania but also in Hungary and Bulgaria.

The group's revenues edged up by 3% to USD 2.3 bln.

"In the face of a strong recovery of the offline stores and problems in global distribution chains, both the gross value of goods and revenues of eMAG, our leading e-commerce platform in Central and Eastern Europe, increased by 3%," according to the document, quoted by Ziarul Financiar.

The core business of the eMAG group delivered a profit from operations of USD 17 mln, but due to the investments, the final result was negative: minus USD 34 mln, the report shows.

"Taking into account the additional investments, overall eMAG reported a loss from operations of USD 34 mln".

(Photo: Vlad Ispas/ Dreamstime)

andrei@romania-insider.com