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Friday, 26.04.2024, 02:36
Estonian Coop's revenue climbs to EUR 314 mln in 2016
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Investments by Coop Eesti Keskuhistu
in 2016 totaled 15.4 million euros, including 12.5 million euros invested in a
logistics center in the territory of the Rae rural municipality not far from
Tallinn, it appears from the annual report.
After the balance sheet date, the Coop
Eesti Keskuhistu subsidiary Coop
Investeeringud OU and associations that are members of the central
association acquired a 36.6% holding in AS Krediidipank
to set up Coop Pank in the fall.
In addition, a company by the name Coop
Energia OU was established to carry out a project for tapping into solar
energy at the new logistics center and in stores.
The Coop Eesti Keskuhistu TUH group is made up of fully owned
subsidiaries Coop Kaubanduse AS and Coop Investeeringud OU, a 51.02%
subsidiary, AS Coop Finants, and a 24%
affiliate, Auto Voru AS.
The group employed 889 people last year and wage costs totaled more than
11.4 million euros.
Retained profit as at year-end stood at 6.1 million euros.
Coop runs approximately 350 retail stores across Estonia.
As at the end of the reporting period Coop
Eesti Keskuhistu had 19 member associations with altogether 80,000 physical
persons as owners.
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