Baltic, Markets and Companies, Retail

Rimi Eesti Food in Estonia posted EUR 298 million in sales, Rimi Latvia – EUR 466.7 million, and Rimi Lietuva – EUR 198.2 million.

This past October, compared to October 2008, sales volume of Rimi Baltic reduced 14.4% and totaled EUR 87.6 million (VAT excluded). Compared to October 2008, sales at Rimi Latvia dropped by 15.7% in October 2009, Rimi Eesti Food – by 12.4%, and Rimi Lietuva by 14.4%.

As reported, amendments to the Law on Value-Added Tax envisaging an increase in the tax from 18 to 21% came into force on January 1, 2009. Therefore, in order to compare the turnover figures, the tax is excluded from the calculations.

Rimi Baltic has 243 stores in the Baltic States, including 77 in Estonia, 101 in Latvia and 65 in Lithuania.

LETA also reported, Rimi Latvia consolidated annual turnover reached LVL 464.99 million in 2008; its earnings after tax and before minority interest reached LVL 13.18 million, according to the Register of Enterprises' "Lursoft" data.

According to the survey "TOP 101" list of Latvia's most valuable enterprises carried out by the business magazine "Kapitals" in cooperation with investment banking company IBS Prudentia and Riga Stock Exchange, Rimi Latvia (worth LVL 189.38 million) is the 12th most valuable enterprise in Latvia this year.

Rimi Baltic fully belongs to Sweden's Rimi Baltic AB.