Slower turnover growth in Latvia was determined by the disaster in Riga happened in November, said Maxima Group in a statement.
For the second consecutive year in the Baltic countries, the highest growth in turnover was recorded in Estonia, where four MAXIMA XX stores were opened over the past 2 years. In Estonia, the Company's turnover accounted for LTL 1.318 billion (EUR 382 million), and in comparison with 2012, increased by 13.5%.
In 2013, the annual turnover of the ALDIK chain in Poland was equal to LTL 107 million (EUR 310 million), and was 23% higher than over the 10-month period of 2012 (the date of acquisition of the Company was March 1, 2012).
In Lithuania turnover increased 4.6% and equaled LTL 4.778 billion (EUR 1.38 billion).
"The great attention has been paid to the renewal of stores in Lithuania and Poland, by adapting them even more to the needs of customers. In Poland, the retail store chain ALDIK embarked on 2014 with 8 renewed stores. In Lithuania, 9 stores were opened last year, and another 4 were reconstructed," says Mindaugas Bagdonavicius, General Manager of Maxima Group.
After the disaster happened in Riga at the end of November, the turnover in separate stores in Latvia fell over 20%. This influenced the overall annual results of the year 2013 – of all the Company stores in the Baltic States, turnover in Latvia had the lowest growth, of 4.2%, and was equal to LTL 2.278 billion (EUR 660 million).
The Company turnover in Bulgaria grew 1.5%, reaching LTL 217 million (EUR 63 million).
Maxima Group is a holding company established in 2007, and controls retail stores in Lithuania, Latvia, Estonia, Poland, and Bulgaria. There were 508 MAXIMA X, MAXIMA XX, MAXIMA XXX, ALDIK, T-MARKET, and T-MARKET EXPRESS stores operating in these countries at the end of 2013. 230 stores were operating in Lithuania, 144 – in Latvia, 71 – in Estonia; 42 – in Bulgaria; and 21 – in Poland. Altogether, Maxima Group's companies in all the countries have over 30 thousand employees.
