Polish oil company Orlen has signed a five-year agreement with the Lithuanian oil and gas terminal operator, KN Energies, for exclusive use of a LNG reloading station in Klaipeda, Reuters reports. Under the agreement, the LNG will be delivered to the station on small ships and then transported by truck to clients in the Baltic…
Lithuanian supermarket operator Maxima Group generated consolidated revenue totalling EUR 3bn in the first half of 2024, which was up 4.7% from the same period of 2023, GlobeNewswire reported. Like-for-like retail sales rose by 2.2% over a year, including by 4.7% in the Baltic States. Online sales dropped by EUR 8mn. The group’s six-month EBITDA…
Swedish telecommunications group Telia Company plans to lay off 400 people in Lithuania, BNS reports. The company intends to lay off 200 employees at telecommunications operator Telia Lietuva and another 200 at its Vilnius-based competence centre, Telia Global Services Lithuania. The group will decentralise most of its operations, with decision-making moved to each country, as…
Lithuanian fashion retail group Apranga Group posted a retail turnover (including VAT) of EUR 161.6mn in the first half of 2024, which was up 9.4% from the same period of 2023, GlobeNewswire reports. Sales in Lithuania amounted to EUR 96.4mn (up 7.5%), in Latvia to EUR 41.0mn (up 17.1%), and in Estonia to EUR 24.1mn (up…
Estonian investment holding company Infortar has announced a voluntary takeover offer to acquire all remaining shares of shipping and tourism group Tallink Grupp for EUR 0.55 per share, GlobeNewswire reports. Infortar currently owns 46.76% of Tallink’s shares and seeks to acquire the remaining 53.24%. The offer period runs from 2 July 2024 to 5 August…
Lithuanian tour operator Novaturas Group’s total revenue amounted to EUR 208mn in 2023, which was up 6% from EUR 197mn in 2022, GlobeNewswire reported. The group served around 259,000 customers in 2023, which was down from 267,000 a year earlier. Novaturas Group appointed Kristijonas Kaikaris as its new CEO in December 2023. Prior to his…
Lithuania’s state-owned oil and gas terminal operator, Klaipedos Nafta, has changed its name to KN Energies, GlobeNewswire reports. The company will continue to use the KN brand, however. At the same time, Klaipedos Nafta’s subsidiary, SGD Logistika, changed its name to KN Global Terminals. KN Energies announced that it would focus on liquid and alternative…
Estonian capital Tallinn’s water supplier, Tallinna Vesi, generated sales of EUR 30.01mn in the first half of 2023, which was up 19.8% from EUR 25.05mn in the same period of 2022, GlobeNewswire reports. The company’s gross profit amounted to EUR 11.52mn (up 30.8%), operating profit to EUR 8.20mn (up 34.7%), and net profit to EUR…
Estonia’s Bigbank posted a net profit of EUR 17.0mn in the first half of 2023, which was up 21% from EUR 14.1mn in the same period of 2022, GlobeNewswire reports. Net interest income amounted to EUR 46.7mn (EUR 39.7mn) and net fee and commission income to EUR 4.0mn (EUR 3.6mn). In the second quarter of…