Estonia, Good for Business, Markets and Companies, Retail

International Internet Magazine. Baltic States news & analytics Sunday, 27.09.2020, 00:14

FY profit of Rimi Estonia surges 2.4-fold to EUR 2.5 mln

BC, Tallinn, 14.08.2020.Print version
Retailer Rimi Eesti Food AS saw its turnover in 2019 grow 4.3% year over year to 390.6 mln euros, while its net profit soared 2.4-fold to 2.5 mln euros, writes LETA/BNS.

Retail sales by Rimi in Estonia totaled 2.63 bn euros, marking an increase of 4.8% over 2018. The market share of AS Rimi Eesti Food was 14.9%, the company said in its annual report.

During 2019, the company invested 11 mln euros in the establishment of new stores and upgrades on existing stores. Three new stores were opened in Tallinn: Meloni Ekspress Rimi, Pae Hypermarket, and Manniku Supermarket. In addition, Nurmenuku Supermarket in Tallinn, the Rimi supermarket in Haapsalu, as well as the hypermarkets in Parnu and in the Lounakeskus mall in Tartu were renovated.

The store in the Ulemiste Keskus mall of Tallinn, which had been turned into a supermarket for the duration of reconstruction works at the mall, was reopened as a hypermarket last year. The Pahklimae Mini Rimi in the northeastern border city Narva was closed in 2019.

At the end of the financial year, the company operated 86 stores -- 17 Rimi hypermarkets, 19 Rimi supermarkets, 45 Mini Rimi stores and five Ekspress Rimi stores.

The company employed 2,302 people on the average last year and wage costs totaled 25.5 mln euros. In 2018, the average number of employees was 2,130 and wage costs totaled close to 23 mln euros.

The sole owner of Rimi Eesti Food AS is Rimi Baltic AB, a holding of ICA Gruppen AB of Sweden.

Search site