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Photo by Vladimir Ivanovo (V)
Maxima Group’s revenue during the first 2020 In the first half of the year, compared to the same period of the previous year, it grew 6.3% and reached 2,050 million. EUR. This was mainly due to the continued development of the group in Poland.
The good results of the first quarter and the successful control of ilaid resulted in 163 million. EUR EBITDA, says Vitalijus Rakovski, Chief Financial Officer of Maxima Group.
Consolidated comparable semi-annual revenues (LFL like for like) grew 1.2%: the result was significantly positive in the first quarter (5.2%) and negative in the second quarter (-3.4%). The COVID-19 pandemic negatively affected the revenue growth of the entire group of companies in the second quarter, the report emphasizes.
Revenue growth in the Baltic countries was modest at 3.9% and the LFL was negative (-1.5%), with store revenues growing in Lithuania but declining in Latvia and Estonia.
IBaltijosali, Latvian Economy 2020 Kenya more. It has been doing so in part since 2019. Conditions like full freight transit and structural changes will shrink the financial sector. The impact of COVID-19 on Maxima Latvia will further contribute to the negative LFL revenue rate of -1.6%. The LFL company remained negative in the Estonian competitive environment, says V. Rakovski.
mon reports that revenue growth was strong in Poland and Bulgaria, at 12.2% and 23.4% respectively. Much of this result has been due to the evolution of these countries. However, both parties’ growth in LFL’s revenues was due more to high inflation than real growth.
The COVID-19 pandemic accelerated the transition of consumers to electronic commerce, so that the results of this commercial channel in the first 2020 in the first half of the year doubled compared to the same period last year.
Ilaid control
Despite the negative impact of COVID-19, the Maxima Group’s semester in 2020 As of June 30, the consolidated EBITDA increased to $ 21 million. EUR compared to the same period last year and amounted to 163 million. EUR.
The EBITDA margin improved from 7.4% in 2019. in the first half of the year to 8.0% compared to the same period of 2020. Said EBITDA growth will be very solid in 2020. First quarter results and good control of the activity in Lithuania and Poland.
The negative impact of COVID-19 on the group’s earnings before taxes is estimated to range from 5 million to 10 million. EUR.
The level of capital investment in the first 2020 remained stable in the first half of the year and reached 47 million. EUR, compared to EUR 50 million. 2019 in the first half of the year, as during the quarantine period, the group reinvested in all countries where the group’s companies operate.
The Group’s indebtedness also remained stable: the ratio of net debt (including lease liabilities) to EBITDA in 2020 reached 3.2x at the end of June. This shows that the group’s business model is resistant to adverse economic cycles.
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