April 11 (SeeNews) - Lithuanian retailer Maxima Group said that its revenue from operations on the Bulgarian market increased by 8% on the year in 2021, to 197 million euro ($214.9 million).
Maxima Group’s consolidated like-for-like (LFL) revenue in Bulgaria edged up by 0.4% last year, the company said in a statement on Friday.
The group, which is active in Bulgaria through its T-Market brand, grew its overall revenue by an annual 6.1% to 4.5 billion euro in 2021.
The group's consolidated earnings before interest, taxes, depreciation and amortization (EBITDA), excluding non-recurring items, amounted to 364.5 million euro, which was 10.1 million euro lower than in the prior year.
"EBITDA was impacted by increasing salaries and employee benefits, Polish e-commerce market entry costs, as well as taxation changes in Poland," Maxima Group said.
The e-commerce sales of the group went up by 48.8% in 2021 compared to 2020.
Maxima Grupe is managing over 1,400 supermarkets in Lithuania, Latvia, Estonia, Bulgaria and Poland. The group has over 16 years of experience in the Bulgarian market through the T-Market brand.
($ = 0.9169 euro)