Teilor Holding posts a consolidated turnover of 523.6 million lei in 2024
Teilor Holding SA, a group of companies that includes the luxury jewelry chain TEILOR, the financial lending company Invest Intermed GF IFN, Invest Intermed Gold, a company that sells gold jewelry, and Teilor Invest Exchange, posts, at consolidated level, a turnover of 523.6 million lei, a 27 % increase compared to 2023, and an EBITDA of 82.5 million lei, a 21 % growth. Normalized net profit, after adjusting for the effects of the consolidation mechanism and for impairments related to subsidiaries in liquidation, amounted to 28.9 million lei, down 11 % compared to the previous year.
“Despite the difficult global economic context, which continued in 2024, marked by the unprecedented rise in the price of gold (+34%), and the challenges in achieving positive financial results at some of the group’s foreign subsidiaries, the 2024 financial performance underscored our ambition and courage to sustain the consistent growth of our businesses (+27%). This was made possible by continuing the expansion in Romania of the brands launched in 2023, DAAR and MyGold, which are active in jewelry sales, as well as by our financial lending activities through a significant increase of our national footprint. At the same time, in 2024 we made the decision to close operations in the Czech Republic, Poland, and Hungary, due to the lack of positive prospects in these markets over the medium and long term. Despite the turbulence experienced in the first part of 2025, driven primarily by the ongoing unpredictable trade war, we remain optimistic that the global economic environment will gradually return to more favorable and rational premises. In this volatile context, we are committed to adopting an anticipatory and proactive approach in the same ambitious and courageous spirit, while at the same time remaining prudent and rational, and adapting rapidly to local and international economic developments. In addition, we will maintain a responsible financial management approach, through cost-optimization solutions designed to maintain a solid and resilient financial position,” stated Mircea Varga, Chairman of the Board of Directors at Teilor Holding.
At the individual level of the entities within Teilor Holding, the luxury jewelry chain TEILOR posted a turnover of 328.4 million lei in 2024, a 24% increase compared to 2023, driven by the growth in sales and demand for its products. TEILOR’s normalized EBITDA reached 50.4 million lei in 2024, up 22% compared to the previous year, while normalized net profit stood at 20.2 million lei, representing a 2% decline. The normalization of EBITDA and net profit reflects the elimination of the effects related to the spin-off and liquidation of the subsidiaries in the Czech Republic, Poland, and Hungary.
At the consolidated level, which also includes the performance of TEILOR subsidiaries in Poland, Bulgaria, Hungary, and the Czech Republic, TEILOR’s turnover reached 340.9 million lei, a 26% increase compared to 2023. The consolidated normalized net profit grew by 113% compared to the previous year, reaching 21.3 million lei.
The financial lending company Invest Intermed GF IFN recorded a turnover of 148.4 million lei in 2024, a 25% increase compared to 2023, mainly due to the investments made in the development of its network of agencies. The revenue growth had a positive impact on EBITDA, which reached 34.5 million lei, an 18% increase compared to the previous year, as well as on net profit, which amounted to 20.1 million lei, up 9%.
Teilor Invest Exchange, a company specialized in foreign exchange and remittance, registered a turnover of 22.2 million lei in 2024, a level similar to the previous year. As a result of operational expenses increasing at a faster pace than revenues, amid the accelerated development of the MoneyGold network, net profit decreased by 45%, reaching 2 million lei.
Invest Intermed Gold, the Teilor Holding subsidiary established in May 2023 and specialized in the sale of gold jewelry through the MoneyGold network, registered a turnover of 14.8 million lei in 2024, a 303% increase compared to the previous year, and a net profit of 1.5 million lei, up 338%.
As of December 31, 2024, the MoneyGold network comprised 123 branches in Romania, following the opening of 15 new branches during 2024.
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About TEILOR
TEILOR is an international chain of luxury jewelry stores with a tradition of over 25 years. Present in Romania, Bulgaria, Poland, and Hungary, TEILOR has over 75 physical stores and a strong online presence through its eCommerce platforms teilor.ro, teilor.com, teilor.bg, and daar.ro. TEILOR’s collections include gold jewelry as well as diamond and precious stone-encrusted jewelry tailored to customer desires.
About Invest Intermed GF IFN
Operating under the MoneyGold brand, Invest Intermed GF IFN provides financing services in a pledged loan system exclusively for individuals.
About Teilor Invest Exchange
Established in 2012 and operating under the MoneyGold brand, Teilor Invest Exchange focuses on currency exchange and money transfer activities. The company operates through a network of agencies totaling over 120 locations across Romania.
About Invest Intermed Gold
Invest Intermed Gold specializes in the sale of gold jewelry through the MoneyGold agency network, operating under the myGold brand.