Maxima Group turnover rises 3.6% to €2.7bn

All of the group’s companies, operating in five countries, reported growth last year.
Maxima Group said it invested €75.2 million in expansion of the chain, opening 25 new supermarkets.

“Consistent implementation of Maxima’s business strategy resulted in steadily growing performance in all of the group’s companies. Economic growth in the countries and positive outlook on personal finance fuelled consumption, which in turn increased our sales,” said Maxima Group CEO Neringa Janavičiūtė.

Investment in Estonia

Over half of Maxima’s investment last year, €35.8 million, went to Estonia, where the group opened a new 45,000 square metre logistics centre. The turnover of Maxima Eesti grew 9.7%, hitting €440.8 million in 2015.

The group’s biggest company Maxima LT, which manages 233 Maxima supermarkets in Lithuania, reported a turnover of €1,443 billion and with growth of 1.8% year-on-year. Maxima Latvija’s turnover grew 2.3% to €676.1 million.

Expansion plans in Poland

Maxima Group also operates in Bulgaria and Poland. Maxima Bulgaria, operating 48 grocery stores T-Market, reported a turnover of €72.4 million in 2015, 10.4% up on the year before.

Maxima Group invested €8.2 million in Poland and is planning to continue expansion in the country. The turnover of its Polish subsidiary Aldik Nova hit €44.8 million, an increase of 18.9% from 2014.

Maxima Group was founded in 2007. Its companies run 233 supermarkets in Lithuania, 148 in Latvia, 75 in Estonia, 48 in Bulgaria, and 31 in Poland.