Maxima Grupė’s revenues grew 6.5% on strong Poland expansion and e-commerce

“Maxima Grupė consolidated revenue grew up by 6.5% in the first half of 2021 versus the same period last year, with continued growth in all countries and launched operations of e-grocer Barbora in Poland. Group was able to maintain its profitability levels stable, despite challenges of continued COVID-19 pandemic and increased tax burden due to the new retail tax in Poland” said Karolina Zygmantaitė, Maxima Grupė’s Chief Financial Officer.

Maxima Grupė consolidated revenue grew to EUR 2.18 billion. Consolidated like-for-like (LFL) retail revenue growth was 2.3% (2.5% at constant exchange rates), with all countries demonstrating positive LFL, despite COVID-19 related restrictions still having negative impact on sales results.

Revenue in Baltics grew by 5.7%. All Baltic countries demonstrated positive LFL: Lithuania’s LFL growth was 3.5%, Estonia’s – 1.6% and Latvia’s – 0.2%. LFL growth in Latvia remained to be impacted by strict measures related to COVID-19.

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