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International Internet Magazine. Baltic States news & analytics Wednesday, 17.07.2019, 04:00

Lithuania's Maxima Grupe set to invest EUR 600 mln in expansion by 2025

BC, Vilnius, 06.02.2019.Print version
Maxima Grupe (Maxima Group), the largest retail group in the Baltics, plans to invest at least 600 million euros in reinforcing and expanding its chain and expansion over seven years, according to its new operating strategy to 2025, Maxima Grupe CEO Dalius Misiunas said in a press release.

"Last year we took several important steps with an eye to active expansion: we acquired and integrated retail chains in Poland, and also were among the first in the region in issuing 300-mln-euro bonds.That's a firm basis for pursuing further international expansion," he added. 

Along with internal changes, the group plans to invest almost 100 mln euros annually, or at least 600 mln euros in total, with the money to go toward strengthening the network of stores in existing and new markets and developing new sales channels.

The group targets annual revenue growth of 7%.

This year, Maxima Grupe plans to open 120 to 140 new stores in five markets, mostly in Poland. It currently has around 1,060 stores. 

The group posted 2.806 bn euros in consolidated revenue for 2017, up 4.25 from 2016. Its net profit more than doubled to 75 mln euros.

Maxima Grupe is part of the Vilniaus Prekyba Group, which is controlled by Nerijus Numavicius.

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