"Maxima Group's revenue exceeded EUR 3 billion this year

Revenues of the largest retail group in the Baltics, „Maxima Group“, grew by 3.5% y-o-y in January-June to EUR 3.07 billion, the company said. 

„Maxima Group“'s EBITDA rose by EUR 17 million to EUR 226 million in the period, while EBITDA margin rose by 0.3 percentage points to 7.3%.

According to the company, this development was mainly driven by an improvement in the EBITDA of its Estonian and Polish operations, mainly as a result of a more efficient management of operating costs. 

According to the Group, the slowdown in revenue growth was due to several factors, including the slowdown in the Latvian and Estonian markets, as well as the refurbishment of its largest stores. Lower growth than last year in Poland and Bulgaria was due to the less rapid expansion of chains, the closure of underperforming stores and an intensified competitive environment.

Lithuania was the strongest performer, with a 4.5% growth in the first half of the year to €1.1 billion. In Latvia, growth was more modest at 2.4%, while in Estonia revenues fell by 0.2%.

In Poland and Bulgaria, where network expansion is most active, „Stokrotka“ recorded 4.4% revenue growth, while „T Market“ grew by 2.1%.

„Barbora“ e-commerce in the Baltics grew by almost 4% to €77 million.  

Of the 23 new stores opened this year, 14 opened in Poland, 7 in Bulgaria and 2 in Lithuania.

„Maxima group“ operates retail chains in the Baltic States, Poland, Bulgaria and an online grocery store in the Baltic States.