German discount supermarket chain Lidl saw a turnover of EUR 1.06 billion last year, up 21.5% compared to 2014.

Its net profit amounted to EUR 38.7 million, 2.8 times higher compared to the previous year, according to data from the Ministry of Finance. The company had a network of 192 stores last year.

Lidl entered the local market in 2010, when it took over about 100 Plus discount stores from the group Tengelmann. The company currently has 195 stores.

The firm announced that it would continue its expansion this year, and that it would also invest in a new logistics center in Lugoj and a new headquarters in Bucharest that will also include a store.

Lidl is active in 26 European countries with over 10,000 stores and over 170,000 employees. The company is part of German group Schwarz, which also owns discount hypermarket chain Kaufland, the market leader in Romania.

editor@romania-insider.com