Estonia, Financial Services, Good for Business

Baltika’s consolidated retail sales revenue for July was 4.521 million euros, increasing 13% compared to the same period last year. Wholesale increased by 61% compared to July in previous year, e-com sales increased by 33%.

Retail sales increased in Baltic states by 16%, thereof in Latvia 34%, in Lithuania 14% and in Estonia 8%. In Russia retail sales increased by 1% compared to same period previous year. In local currency sales increased in Russia by 10%.

At the end of July Baltika Group had 125 stores, among which 2 franchise stores in Belarus and 17 franchise stores in Ukraine. At the end of month the sales area of shops operated by Baltika was 20,287 square metres and the month average sales area increased by 4% compared to the same period last year.

Sales revenue for the 7 months totalled 30.102 million euros, increasing +5% year-on-year. Retail sales revenue was 27.694 million euros (+3%), including Baltic states sales growth +8%.

Wholesale was 2.168 million euros (+31%) and e-com revenues 162,000 euros (+40%).

In connection with Baltika’s exit from the Ukrainian retail business and selling the company there (agreement was signed on 29 April 2014), the sales revenue of the Ukrainian entity is presented as discontinued operation. Sales announcement presents only the results of continuing operations unless indicated otherwise.