Baltic, Markets and Companies, Retail

The group's EBITDA grew by nearly three times to 1.9 million euros.

SIG board member Are Altraja said that the concern's turnover was affected most by improving consumer confidence in the Baltic States. The loss of the company was affected in a major way by one-time costs – exiting from the Ukrainian market and down valuing its Russian claim. The company restructured its activities at the Russian market in 2009, selling the joint venture, restructuring loans granted to the company and down valuing the claim.

In 2011 the company decided to end operations at the Ukrainian market, closing 8 stores and selling the company to a third party at the end of the year.

Sportland Grupp operates Sportland, Sportland Outlet, Timberland, O`Neill, Nike, Citysport, Nike Outlet stores in three states, Estonia, Latvia and Lithuania, on nearly 40,000 square metres in 88 stores.