Baumax still believes in central and eastern Europe

According to information from company sources, net sales of the Austrian Baumax Group amounted to € 1.20 bn last year, which was 3.9 per cent down on the previous year’s € 1.25 bn. “So far 2013 has been an extremely difficult year for the entire DIY sector in Europe,” CEO Martin Essl explained at a press conference. “If the autumn turns out to be as great as we are expecting we will still be able to achieve a double-digit EBITDA this year.” He expressed his confidence that the company would cope with any difficulties confronting it. “The economic environment in countries like Romania, Croatia and Slovenia are not actually helping us to make any progress in these markets. However, we still believe firmly in the economic recovery of the countries of central and eastern Europe, together with the purchasing power and investment confidence that will accompany it.”