MAXIMA GRUPĖ Turnover for the Year 2011 Increased Due to Development Abroad and Inflation
Press release
February 2, 2012, Vilnius
MAXIMA GRUPĖ, UAB, consolidated turnover for 2011, compared to 2010, increased by 6.5 per cent and reached EUR 2.250 billion, excluding VAT. The turnover of the Group's companies increased in all countries, with the biggest growth in Estonia – by 13.3 per cent, and in Bulgaria – by 7.3 per cent. During the reporting period, the companies of MAXIMA GRUPĖ invested EUR 63 million in business support and development.
"Last year, the turnover of MAXIMA GRUPĖ companies increased and was bigger than in 2010. However, it would be premature to say that consumption has been recovering. The growth of turnover in 2011 was determined by undergoing shopping network development and increasing inflation, but not by growth in quantity of product sales. Consumers still remain rational; they save, buy sale products and actively use discounts", says Mindaugas Bagdonavičius, MAXIMA GRUPĖ, UAB, General Manager.
According to the General Manager of MAXIMA GRUPĖ, it is not expected that 2012 will show sharp recovery of consumption; consequently, the economic situation in foreign and domestic markets is being closely monitored. The Group is planning sustainable development abroad. It will try to offer wide range of products and beneficial sales to our customers. A special focus will be placed on preparation and sales of fresh food.
In Lithuania, the turnover of the retailer MAXIMA LT, UAB, increased the least among all the Group companies during the reporting period, i. e. by 5 per cent, and accounted for EUR 1.277 billion. The turnover of another Lithuanian company of the Group, UAB Ermitažas, grew by 8.9 per cent and reached EUR 51 million.
The turnover of MAXIMA Latvija increased by 6.6 per cent in 2011 and reached EUR 568 million. The turnover of MAXIMA Eesti increased by 13.3 per cent and accounted for EUR 291 million. MAXIMA Bulgaria reached the turnover of EUR 62 million – it is 7.3 per cent growth compared to 2010.
MAXIMA GRUPĖ, UAB, is a registered controlling company managing retail companies in Lithuania, Latvia, Estonia and Bulgaria, which are comprised of 463 shopping centers MAXIMA X, MAXIMA XX, MAXIMA XXX, T-MARKET, T-MARKET EXPRESS: there are 221 of those in Lithuania, 136 in Latvia, 65 in Estonia and 41 in Bulgaria. All the companies under the management of MAXIMA GRUPĖ, UAB, employ over 27.5 thousand employees in all the countries.
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