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Euronics sees rising turnover

Electronics retail chain operator Euronics targets revenue of HUF 43.9 billion and operating profit of €2.1 billion in 2009, up from HUF 40.7 billion and HUF 1.7 billion, respectively, in 2008, company officials said.

Euronics' sales volume rose 4%-5% in the firs three or four months of the year, even as the market as a whole contracted 8%-9%, said András Rohrbock, managing director of Vorosko, one of Euronics' owners. In value terms, Euronics' sales grew 15% during the period as the market shrank 10%-15%, he added, noting that prices rose because of the weaker forint and more sales of high-end LCD televisions.

Euronics operates 134 stores with a combined area of 66,000 square meters in 119 cities, said sales director Katalin Hegedűs.

Euronics controls about one-fourth of Hungary's retail consumer electronics market, making it the second-biggest player, Rohrbock said. It has more than 30% of the household appliances market and about 20% of the entertainment electronics market, he added. (MTI – Econews)