The opening of two hypermarkets in Bucharest (in Orhideelor and Colentina areas) last autumn and in the first half of this year allowed the French Hyparlo Group, manager of the Carrefour network in Romania, to make higher profits.
Hyparlo says its EBITDA rose 6.5% to 25.3 million euros, while operating income reached 6.5 million euros.
"Romania achieved a balanced operating income in the first half of the year, allowing the group to log a slight increase in operating income, despite reduced performance in France," the company report shows.
Carrefour hypermarkets on the Romanian market are operated by Hiproma, a 50-50 joint venture created by Carrefour and one of its main franchisees, Hyparlo.
The management of Hiproma is provided by Hyparlo, which, apart from its Bucharest hypermarkets, has 12 others in France
The three Carrefour hypermarkets in Bucharest made more than 100 million euros in net sales in the first half of this year, almost 120% more than for the same period last year. The number of stores has increased in the meantime, however. Apart from the hypermarket in Chiajna, at the Ploiesti exit from Bucharest, two more hypermarkets were opened. One of them opened last autumn and is located in Grozavesti, close to central Bucharest, while another opened earlier this year in Colentina, eastern Bucharest.
"The sustained growth in Romania, along with the opening of our fourth store in Brasov, will translate into an increase in the weight of our Romanian operations in the total turnover of the group. Romania is, therefore, asserting itself as a basis for growth in the Hyparlo Group," the French group report shows.
The opening of the hypermarket in Brasov this autumn will be followed by the opening of another in Galati due for inauguration next year.
At present, Hyparlo's Romanian business accounts for little more than 10% of its total turnover, yet its officials say by 2010 the 15 Carrefour hypermarkets in Romania, in Bucharest and the main cities around the country, will see sales only slightly lower than those of hypermarkets run by Hyparlo in France.
Hiproma made more than 4,450bn ROL (118.5 million euros at the average exchange rate) in turnover in 2003, according to the Finance Ministry's website, ending the year with 195bn ROL (5.2 million euro) losses.
Carrefour's only competitor on the Romanian market at the moment is another French group specialising in hypermarkets, Cora. A member of the Louis Delhaize Group, which also owns the discount store chain Profi in Romania, Cora has only one hypermarket, in Colentina, eastern Bucharest.
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