In 2016, consolidated retail turnover of Maxima Grupė managing retail companies in Lithuania, Latvia, Estonia, Poland and Bulgaria reached EUR 2.684 billion excl. VAT. Compared to 2015, it increased by 0.2 percent. Retail turnover was increased by group companies in Latvia (1.9 percent), Estonia (1.2 percent), Bulgaria (22.1 percent) and Poland (6.1 percent), meanwhile in Lithuania retail turnover decreased (-2.1 percent).
The greatest Maxima business breakthrough was in Bulgaria
Annual retail turnover in Maxima Bulgaria increased by 22.1 percent to EUR 88.4 million excl. VAT. The increased turnover of the chain was driven by active expansion performed last year - the company acquired, rearranged and opened 14 new stores at the end of the year, also residents appreciated the format, prices and assortment of “T-Market” stores.
Maxima Latvija has demonstrated the highest growth rate in the Baltic States, while in Lithuania, retail turnover decreased
Maxima Latvija retail turnover increased by 1.9 percent - to EUR 689.3 million excl. VAT. Maxima Eesti retail turnover increased by 1.2 percent and amounted to EUR 446 million excl. VAT. In Lithuania retail turnover decreased by 2.1 percent, however Maxima LT has remained the largest business company in Maxima Grupė with its retail turnover amounting to EUR 1.413 billion excl. VAT last year.
Retail turnover of “Aldik Nova” in Poland increased by 6.1 percent up to EUR 47.5 million excl. VAT last year.
Maxima Grupė is a company, registered in 2007, managing retail companies in Lithuania, Latvia, Estonia, Poland and Bulgaria. The Group had 557 “Maxima X”, “Maxima XX”, “Maxima XXX”, “Aldik”, and “T-Market” stores operating at the end of 2016: there were 241 stores in Lithuania, 151 - in Latvia, 74 - in Estonia, 61 - in Bulgaria and 30 in Poland. The Group companies had more than 29 thousand employees.
Comment by Robertas Čipkus, CEO of Maxima Grupė:
In 2016, the number of trade sites and trade area rapidly grew in the Baltic States; this growth was particularly notable in the Lithuanian market, meanwhile demographic trends in the Baltic States show negative prospects, because population continues to decrease. All this directly affects Maxima Grupė business results.
In 2017, competition in the markets where we operate will continue to increase, but we see good assumptions for sustainable development - the macroeconomic environment should remain stable, while household consumption continues growing.
We will also focus on increasing the efficiency of business management processes and management of the supply chain so that we would be able to offer our customers the greatest assortment in the market at the best price.
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