June 2 (SeeNews) - Romanian online retail group eMAG said on Wednesday that it booked 8.93 billion lei ($2.2 billion/1.8 billion euro) revenues in 2020.
The results confirm a first stage of accelerated ecommerce development and reflect investments in technology, logistics infrastructure, international development and in the marketplace, eMAG Group said in a press release.
The group provided no year-on-year comparison but according to local media, the group posted a turnover of 5.6 billion lei in 2019.
Out of the total revenues of the group in 2020, Romania accounted for 5.42 billion lei, while activities in Bulgaria and Hungary generated revenues of 2.1 billion lei, up 87% on the year, eMAG said.
Dante International SA, the company that includes eMAG Romania, Fashion Days Romania and makes sales for eMAG Bulgaria and eMAG Hungary, recorded a turnover of 6.72 billion lei in 2020.
"We will continue to invest in growth, with a focus on international development and marketplace traders, but also in Romanian entrepreneurial companies that want to develop internationally," eMAG CEO Tudor Manea said.
At the end of March, eMAG said it plans to invest some 3.26 billion lei in the next three years in regional expansion, technology development, logistics operations and in technology companies, through eMAG Ventures.
eMAG was founded in 2001 by Romanian entrepreneurs and later expanded in Bulgaria, Hungary and Poland. South Africa-based Naspers media group acquired a 70% stake in eMAG in 2012.
eMAG group comprises online retailers eMAG, Fashion Days, PC Garage, courier company Sameday Delivery, repair shop Depanero, online marketing agency Conversion Marketing, home delivery platform by tazz by eMAG and the software company Zitec.
(1 euro= 4.9198 lei)
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