Baltika’s fourth quarter and especially December sales results in the reporting currency (i.e. Estonian kroon) were significantly impacted by the weakening of the Ukrainian hryvnia and Russian rouble against the Estonian kroon. Excluding currency rate changes, Ukraine and Russia achieved good sales results in December. Negative impact came mostly from weaker sales in the Baltic region, particularly in Estonia and Latvia.
In the month of December, Baltika’s retail sales decreased by 14% and total sales were down by 13% yoy. Comparable store sales which declined by 19% in December were impacted by currency rate changes as well as weaker sales in the Baltic region.
Sales in December
|
EEK million |
12/2008 |
12/2007 |
Change |
|
Retail |
90.7 |
105.0 |
-14% |
|
Wholesale |
2.5 |
2.8 |
-9% |
|
Other |
0.34 |
0.16 |
113% |
|
Total |
93.6 |
107.9 |
-13% |
In terms of regions, Baltika’s Q4 retail sales grew by 32% in Central European region, by 10% in Eastern European region and declined by 5% in the Baltic region. In December, retail sales increased by 24% in Central Europe and decreased by 16% in Eastern Europe (excluding currency rate changes, sales grew by 7% in Ukraine and declined by 4% in Russia). In the Baltics, retail sales declined by 15% in December.
In full year 2008, the preliminary unaudited sales of Baltika Group amounted to 1,194 million kroons (+4% yoy), including retail sales of 1,059 million kroons (+7%) and wholesale of 133 million kroons (-8%).
At the end of December 2008, Baltika Group had 134 stores with a total sales area of 27,068 square metres. In December, one store was opened in Ukraine. The net growth of the retail system in 2008 was six stores and 2,800 square metres. The sales area operated by the Group increased by 11% over the year.
EUR 1 = EEK 15.6466
Triin Palge
Head of investor relations +372 630 2886 |
