Retailers in Estonia expect declining sales in the first half of 2024 amid lower consumer confidence, ERR reports. Many consumers plan to go shopping in neighbouring countries due to the rise in the VAT rate from 20% to 22% as of 1 January 2024, according to a Norstat poll for Citadele bank, BNS reports. The…
The Lithuanian fashion retailer, Apranga Group, posted an unaudited consolidated profit before income tax of EUR 9.0mn in the first half of 2023, which was up from EUR 7.1mn in the same period of 2022, GlobeNewswire reports. The group’s EBITDA amounted to EUR 18.9mn, which was up from EUR 17.1mn a year earlier. Six-month retail…
The number of real estate transactions in Estonia totalled 11,126 in the second quarter of 2023, with the total value amounting to EUR 1.25bn, according to data from the Estonian Land Board (Maa-amet), ERR reports. Apartments accounted for 58%, undeveloped land for 24%, and developed land for 17% of all real estate transactions. Apartment sales…
Estonian fish processing group PRFoods posted unaudited preliminary consolidated turnover of EUR 19.23mn in the financial year 2022/2023, which was down 6.6% from EUR 20.59mn in the year before, GlobeNewswire reports. Turnover from continuing operations amounted to EUR 19.08mn, which was up 30.2% from EUR 14.66mn in 2021/2022. In the fourth quarter of 2022/2023, the group’s…
Shorter alcohol sale hours in Lithuania have led to a decline in male deaths on Sundays and Mondays, according to a new study, BNS reports. Daumantas Stumbrys, senior researcher at the Lithuanian University of Health Sciences (LSMU), found that the mortality rate spiked on Sundays and Mondays, but had decreased to the weekly average since…
The Lithuanian tour operator, Novaturas Group, generated revenue of EUR 100mn in the first half of 2023, which was up 10% from the same period of 2022, GlobeNewswire reported. The company served a total of 125,000 customers, which was down from 128,000 a year earlier. Vitalij Rakovski, CEO of Novaturas Group, said that the company…
Newspaper and magazine sales in Estonia fell in June 2023 compared to the same period of 2022, according to data from the Estonian Association of Media Enterprises (EML), ERR reports. Õhtuleht sold 32,000 (35,000) copies, followed by Maaleht with 31,700 (33,600), Eesti Ekspress with 19,000 (20,600), and Eesti Päevaleht with 8,600 (10,000) copies. Postimees stopped…
Estonia’s retail group, Tallinna Kaubamaja Grupp (TKM Grupp), posted unaudited consolidated sales revenue of EUR 460.5mn in the first half of 2023, which was up 11.8% from EUR 411.9mn in the same period of 2022, GlobeNewswire reports. Sales of the group’s supermarkets amounted to EUR 301.7mn (up 6.5%), department stores to EUR 51.7mn (up 6.7%), car…
Estonia’s privately-owned energy group, Utilitas, posted sales revenue of EUR 255.9mn in 2022, which was up from EUR 159.9mn in 2021, ERR reports. Production and sale of heat and electricity accounted for 94% of total revenue. The rest came from renewable energy subsidies and other sales. Utilitas produced 2.2 TWh of heat and electricity in…