EU – Baltic States, Good for Business, Lithuania, Retail

International Internet Magazine. Baltic States news & analytics Saturday, 27.04.2024, 01:01

Lithuania's Maxima Grupe ups revenue 6.3%

BC, Vilnius, 18.09.2020.Print version
Maxima Grupe (Maxima Group), a Vilnius-based retail chain operator indirectly owned by Lithuanian businessman Nerijus Numa (formerly known as Numavicius), posted 2.05 bn euros in consolidated revenue for the first half of this year, up 6.3% from the same period last year, with the group saying that its expansion in Poland had impact on the result, informed LETA/BNS.

The group recorded the biggest increase in revenue in Bulgaria (23.4%), Poland (12.2%) and Latvia (4.9%), the group said.


The groups H1 consolidated EBITDA rose 1.8% to 163 mln euros, and its EBITDA margin rose from 7.4 to 8%.


Good first quarter results and good cost control in Lithuania and Poland had positive impact on the results. The group estimates the coronavirus pandemic's negative impact on its pre-tax profit ranges from 5 to 10 mln euros. 


The group owns retail chains operating under the names of Maxima in the Baltic countries, Stokrotka in Poland and T-Market in Bulgaria, and the Baltic online food shop Barbora.




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