1

I read this sentence in a business news journal published in Germany, and written by an author with a German surname, so I assume he is a native speaker:

Das war in den 90er Jahren, als der Konzern noch 500 Millionen Euro umsetzte.

What does umsetzte mean there? Had sales of? Was valued at? Something else?

3

It refers to the noun "Umsatz", but the author wants to use a verb. Some alternatives are

Der Umsatz des Konzerns betrug 500 Millionen Euro.

Der Konzern hatte/machte einen Umsatz von 500 Millionen Euro.

Umsatz means revenue, usually without value added tax (Umsatzsteuer).

0

Ask uncle Duden who as a bonus gives also insight into the genesis of the word:

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(Screenshot from Duden Bibliothek Express Version 6.1.0.0., issued in 2015, lemma umsetzen. Would be similarly explained in the printed book Duden Universalwörterbuch, 8th edition.)

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