The PENNY Romania network is part of the international REWE Group. The REWE Group, headquartered in Cologne and founded in 1927 under the name REWE (Revisions-verband der Westkaufgenossenschaften), is one of the main players in the European trade and tourism market. It consists of two independent entities originating from two parent companies: REWE-ZENTRALFINANZ eG, Cologne (RZF) and REWEZentral-Aktiengesellschaft, Cologne (RZAG). With a presence in 21 European countries and 390 000 employees, the REWE Group ended 2023 recording a turnover of 92 billion Euros. Total foreign turnover from continuing operations increased in 2023 by 8.9% compared to 2022 from 84.8 billion Euros to 92.3 billion Euros Operating income (EBITA) was more than 1.8 billion Euros Investments increased by 6% reaching, 3 billion Euros The turnover of the REWE Group – excluding independent retail and equity entities – from continuing operations increased by 11.1% The travel and tourism sector continues its strong recovery from the pandemic, recording a significant revenue growth of 24.6% in 2023 compared to 2022 Year 2023 Thus, strengthened by its international positioning in the retail, travel and tourism and convenience sectors, the REWE Group recorded another stable and successful business year in 2023. The International Retailing business segment comprises the FullRange Austria, Full-Range CEE and PENNY International divisions. The PENNY International division operates the PENNY MARKT, PENNY MARKET and PENNY brands in a total of 1 790 locations in Italy, Austria, Romania, the Czech Republic and Hungary. PENNY International, which operates as a discount store chain in Italy, Austria, Romania, the Czech Republic and Hungary, recorded a revenue increase of 17.1%, comparing to the previous year reaching 7.7 billion Euros. Adjusting the effects of the exchange rate, the increase is 15.9%. In 2023, PENNY had the largest revenue expansion in Romania, followed by Hungary and the Czech Republic, where, after adjusting for the exchange rate, revenues increased by 25.4%. SUSTAINABILITY STEP BY STEP CORPORATE GOVERNANCE AND BUSINESS SUSTAINABLE ASSORTMENT ENERGY, CLIMATE AND RESOURCES EMPLOYEES AND SOCIETY GRI & SASB INDEX ASSURANCE OF SELECTED NON-FINANCIAL INDICATORS
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