"Maxima Grupė" in 2023: 13% Revenue Growth, Focus on Low Prices, and Expansion in Poland
2024年4月10日 - 3:30PM
"Maxima Grupė" in 2023: 13% Revenue Growth, Focus on Low Prices,
and Expansion in Poland
Retail leader in
the Baltic States MAXIMA GRUPĖ, UAB, which manages "Maxima" retail
chains in Lithuania, Latvia, and Estonia, "Stokrotka"
in Poland, "T-Market" in Bulgaria, and the online store "Barbora"
in the Baltic States, announces consolidated
financial results for 2023.
Despite the volatile
economic situation in all MAXIMA GRUPĖ's operating markets, the
Group managed to maintain financial stability in 2023. Amid high
inflation, the Group consistently pursued the expansion of retail
chains and steadily increased revenue. Consolidated revenue reached
5.845 billion euros, showing a 13% increase compared to the
previous year. Nearly half of the Group’s revenue growth resulted
from the increase in the “Stokrotka” retail chain turnover.
Consolidated EBITDA of MAXIMA GRUPĖ reached almost 479 million
euros, showing nearly 30% increase compared to 2022. EBITDA growth
was driven by several factors, including increased revenue
attributed to higher average basket sizes and customer traffic to
the Group’s stores, as well as reduced energy expenses and improved
efficiency across store and logistics operations. The Group's
EBITDA margin returned to its year 2021 level of 8.2%, which is 1
percentage point higher than in 2022.
Poland and Bulgaria
remained as the main directions of the Group's expansion. Poland’s
retail network expanded by 60 stores, continuing expansion pace for
the fifth year. Revenue growth in Poland reached 24.7%. In
Bulgaria, the store network expanded by 12 stores, and revenue grew
by 15%. Additionally, 4 new stores were opened last year in the
Baltic countries: 2 in Lithuania and 2 in Estonia. Revenue in the
Baltics increased in 2023 by 8.7%: in Lithuania by 7.9%, in Latvia
by 10.1%, and in Estonia by 8.6%. Revenue from the Group's
e-commerce channels grew by 5.5%.
According to Manfredas
Dargužis, the CEO of MAXIMA GRUPĖ, the Group aimed to maintain
stability in volatile market conditions and continued to implement
goals: "High inflation and reduced consumption in the markets where
the Group operates in 2023 prompted the Group's companies to focus
on implementing new sales promotion strategies and offering
attractive pricing to customers. The Group also continued with the
previously set goals: expansion in Poland and Bulgaria,
standardization of store formats, development of private labels,
and streamlining of business processes."
The Group’s
investments in expansion and store renovation, compared to 2022,
increased by 45%, and in 2023 amounted to over 168 million euros.
In 2023, the construction of a 46,000 square meter logistics center
began in Lithuania, with a planned investment of 70 million euros.
From this warehouse, which is scheduled to start operating in 2024,
goods will be delivered to all "Maxima" stores in Lithuania,
significantly contributing to the overall network efficiency. The
process of standardizing store formats initiated in the Baltic
States in 2021 reached its final stage in 2023 – by the end of the
year, at least 70% of stores in all countries were standardized
according to a unified store format. Standardizing store formats is
also important for more efficient management of retail chains. Out
of 499 stores in Lithuania, Latvia, and Estonia, 369 stores are
operating in a standardized format.
At the beginning of
the year, a new brand "Well Done" was introduced, which offers
high-quality food products at a lower price. By the end of the
year, "Well Done" covered more than 400 different products, and the
share of all private label sales from total Group sales reached
18.8%.
The companies
controlled by MAXIMA GRUPĖ in all countries are an important part
of the communities and take responsibility for their activities and
their potential impact on the environment. In early 2023, MAXIMA
GRUPĖ joined the international "Science Based Targets" initiative
and committed to achieving goals aligned with the Paris Climate
Agreement. The Group's goals were officially approved by the end of
2023 under the global "Science Based Targets" initiative, and
MAXIMA GRUPĖ officially joined the most advanced companies
participating in this initiative worldwide.
The Group's companies
cooperate with various charity organizations and food banks in
their countries, donating a portion of unsold but safe-to-consume
food products to them. The total amount of food donated to food
banks and other charity organizations increased by 82% in 2023 and
reached 3,727 tons.
In September 2023,
MAXIMA GRUPĖ redeemed long-term bonds upon the expiration of a
five-year term. During 2023, the Group's debt level decreased, and
the ratio of consolidated net debt to EBITDA at the end of 2023 was
2.0.
The sole shareholder
of MAXIMA GRUPĖ, UAB "Vilniaus prekyba," approved the company's and
Group's consolidated financial statements for 2023 and the profit
distribution project, according to which, taking into account the
dividend payment policy, dividends of 123 million euros were
allocated to Vilniaus prekyba in 2023.
Additional
Information
MAXIMA GRUPĖ, UAB
manages retail chains MAXIMA (in the Baltic countries), STOKROTKA
(in Poland), T MARKET (in Bulgaria), and the online food store
BARBORA, operating in the Baltic countries.
MAXIMA GRUPĖ, UAB is
part of the Vilniaus prekyba group of companies. Through its other
subsidiary companies, Vilniaus prekyba controls investments in
retail and pharmacy chains, restaurant chains, as well as real
estate development and rental service companies in the Baltic
countries, Sweden, Poland, and Bulgaria.
- Maxima Grupe Consolidated Annual Report 2023
Maxima Grupe (TG:A2RRK1)
過去 株価チャート
から 5 2024 まで 6 2024
Maxima Grupe (TG:A2RRK1)
過去 株価チャート
から 6 2023 まで 6 2024