Discount retailer Penny Market, part of the German group Rewe, posted revenues of almost EUR 675 million last year, up 12.5% year-on-year.

By comparison, Rewe Romania saw a turnover of EUR 600 million in 2015.

In Italy, Austria, Hungary, Romania and the Czech Republic, Penny International generated revenues of EUR 4.2 billion, up 4.1% compared to the previous year. The Czech Republic recorded a turnover of EUR 1.2 billion, followed by Italy (EUR 1.1 billion), and Austria (EUR 780 million).

Penny International recorded the highest revenue growth in Romania, namely 12.5%. Romania was followed by Hungary, with an advance of 6.6%, according to the German group’s report.

Last week, Penny Market opened a EUR 19 million in a logistic center near Bacau. This is the first such center opened by a food retailer in Romania’s Moldova region, in the east of the country.

editor@romania-insider.com