Estonia: Grocery sales up sharply, profits down in 2022

The total turnover of Estonia’s food retail chains rose by 12.4% in 2022, according to data from Statistics Estonia, ERR reports. Coop’s net retail sales amounted to EUR 805.9mn (up 7.2%) and operating profit to EUR 12.6mn (EUR 29.2mn). Selver’s sales stood at EUR 601.9mn (up 4.7%) and pre-tax net profit at EUR 11.2mn (down EUR 7.7mn). Maxima’s turnover was EUR 546mn (up 5.2%), while annual net profit was EUR 1.9mn (EUR 6.5mn). Rimi Eesti Food’s turnover amounted to EUR 440.7mn (up 7.8%) and profit to EUR 7mn (EUR 2.17mn). Prisma Peremarket’s sales increased by 7.9% to EUR 253.6mn. The chain suffered a loss of EUR 5.76mn, compared to a profit of EUR 2.86mn in 2021. OG Elektra’s turnover amounted to EUR 207.6mn (up over 13%) and net profit to EUR 12.7mn (EUR 11.4mn). RRLektus (Meie Toidukaubad) reported a turnover of EUR 67.12mn (up over 8%) and an operating profit of EUR 3.05mn (down over 22%). Lidl will publish its annual results for 2022 in August 2023.