Maxima grupė announces 2.683 billion euro audited consolidated turnover, exclusive of VAT in 2015

Vilnius, Lithuania, 2016-May-31 — /EPR Retail News/ — In 2015, the audited consolidated turnover, exclusive of VAT, of the companies of Maxima grupė in the Baltic States, Poland and Bulgaria amounted to 2.683 billion euro. The consolidated net profit after taxes was 77 million euro, and investments in business development and maintenance exceeded 75 million euro. Over 176 million euro in taxes were paid in Lithuania.

Last year, the consolidated turnover of the companies of the group grew in all the countries and was 3.7 per cent higher than in 2014. In Lithuania, it grew by 2 per cent and was equal to 1.524 billion euro, in Latvia by 2.1 per cent and amounted to 689 million euro, in Estonia by 9.9 per cent with a turnover of 440.8 million euro, in Bulgaria by 10.2 per cent, which was equal to 72.5 million euro, and in Poland by 17.8 per cent, with a figure of 45.4 million euro in the audited turnover.

In 2015, the companies of the group invested 75.2 million euro in business maintenance and development, an increase of 34.3 per cent over 2014. A total of 25 new stores were opened, 16 stores were reconstructed, and a new modern logistics centre was opened near Tallinn in Estonia.

The group earned 77 million euro in consolidated net profit. As in 2014, the companies in Lithuania and Poland were profitable. The companies in Estonia, Bulgaria and Poland finished the year with a loss due to the high investments in business development. Maxima LT, which has the largest trade area and greatest number of stores, had the highest turnover of the group, with a net profit of 72 million euro.

The improved annual financial results of the companies were determined by the lower franchise tax, new improved internal processes, successful development which allowed the companies to grow, significantly changed purchasing habits of the consumers of the Baltic States, as well as the structurally changed basket of goods.

The taxes of the companies of Maxima grupė in Lithuania also grew in 2015. A total of 176 million euro was paid in taxes last year, an increase of 10.7 per cent over the previous year.

This year, the companies of Maxima grupė plan to increase their investment in business development and maintenance by a third more than last year’s amount, with an estimated expenditure of 99.5 million euro. A large proportion of this amount — over 55 million euro — will be allocated for Lithuania.

MAXIMA GRUPĖ, UAB is a controlling company registered in 2007, which currently consolidates retail companies in Lithuania, Latvia, Estonia, Bulgaria and Poland. 528 stores of Maxima X, Maxima XX, Maxima XXX, Aldik, T-Market operate in them: in Lithuania, 232 stores operate, in Latvia – 148, in Estonia – 74, in Bulgaria – 48, in Poland – 26. More than 31 thousand workers are employed in the Companies of the Group.

More information:
Giedrius Juozapavičius
Corporate Affairs Manager | Maxima Grupė

MAXIMA GRUPĖ reports of EUR 2,583 billion Turnover in 2014; 2.5% up compared to 2013

Vilnius, Lithuania, 2015-2-5 — /EPR Retail News/ — Last year the consolidated turnover of the company “MAXIMA GRUPĖ” was EUR 2,583 billion without VAT, and grew 2.5 percent as compared with 2013. The retail chains belonging to the company in the Baltics, Poland, and Bulgaria focused on increasing the competitiveness and more effective organization of operations. 17 new stores were opened and 31 reconstructed during the year. The company‘s investment in expansion and chain maintenance in 2014 totaled almost EUR 56 million.

“As in the most countries we further observe rational consumers behavior that predetermines moderate but stable market growth, during the last years we mostly focused on increasing the companies’ competitiveness, first of all taking into account the interests of our consumers. Moreover, we paid significant attention to improving the operational processes of the companies’ in each country, starting from supply, the logistics chain, and management of the assortment of goods and finishing with improving of the working conditions in our stores. These working directions will remain relevant in the future as well”, – says Neringa Janavičiūtė, Director General of “MAXIMA GRUPĖ”, UAB.

N. Janavičiūtė notes that in terms of results by country, the company growth was the highest last year in Poland and Estonia. The turnover of “ALDIK” chain in Poland reached EUR 37.7 million without VAT and, compared to 2013, was 21.6 percent higher. Such swift growth is observed in the country for the second consecutive year. Two “ALDIK” stores were opened in Warsaw last year, and further chain expansion is planned this year as well.

Comparing the results in the Baltic States, for the third year in a row the biggest growth took place in Estonia. Total “MAXIMA Eesti” turnover exceeded EUR 401 million without VAT and was 5.2 percent higher than in 2013. These results were influenced by the increase of company’s competitiveness by expanding the chain of large stores in the Estonian capital: the started expansion of large format (“XX” format) stores proved fruitful and will be continued, and the first “MAXIMA XXX” store will open in Tallinn at the end of this year. Also last year the company started building a new logistics center, worth almost EUR 30 million. The end of its construction is estimated at the end of 2015.

In Lithuania the results reflected the country‘s overall economic growth trends. The turnover of “MAXIMA LT” grew 2.5 percent in 2014 and surpassed EUR 1,417 billion without VAT. One of the company‘s key objectives in 2014 was the proper preparation for the adoption of the Euro, and this went smoothly at the beginning of this year. In 2015 the company will focus mostly on ensuring the competitiveness.

“MAXIMA Latvija” turnover reached EUR 660 million without VAT last year, which is practically the same as the year before, having increased 0.1 percent. The company allocated the biggest attention and resources to implementing the Change Program – it was dedicated for this purpose over EUR 11 million.

The yearly turnover of “MAXIMA Bulgaria” was EUR 65.6 million without VAT and grew 4.2 percent. This year company also has plans to expand its chain by further increasing the number of small format “T-MARKET” stores.

“MAXIMA GRUPĖ” is a holding company, established in 2007, that controls retail stores in Lithuania, Latvia, Estonia, Poland, and Bulgaria. It has a total of 517 “MAXIMA X”, “MAXIMA XX”, “MAXIMA XXX”, “ALDIK”, and “T-MARKET” stores: 228 in Lithuania, 146 in Latvia, 73 in Estonia, 44 in Bulgaria, and 26 in Poland.