News
In the third quarter of 2021, the consolidated unaudited sales revenue of the Group was 206.2 million euros, which was 6.2% more than the sales revenue of the same period in 2020. The sales revenue in the nine months was 604.1 million euros, which was an 11.7% increase in comparison with the result of the first nine months of 2020, when the sales revenue was 540.7 million euros. In the third quarter of 2021, the Group’s unaudited consolidated net profit was 12.6 million euros, which was 69.1% higher than the profit of the comparable period in the previous year. The Group’s net profit of the first nine months of 2021 was 20.3 million euros, which was 76.4% higher than the result of the comparable period in the previous year. In the first nine months, the pre-tax profit was 24.6 million euros, increasing by 42.2% compared to the year before. Net profit was affected by the dividend payment, from which 4.3 million euros of income tax was calculated in the first quarter of 2021; 5.8 million euros of income tax was calculated a year before.
Gradual closure of stores specialised in footwear sales
TKM King AS, subsidiary of Tallinna Kaubamaja Group, will gradually close its ABC KING and SHU physical stores that are specialised in footwear sales during 2022. The Group will continue footwear sales through e-channels, in Kaubamaja and in larger Selver stores. At present, there are no plans to sell shares of TKM King AS, termination of the company neither change the composition of the management board. The closure decision does not have significant impact on the Group’s financial results. Read more
Unaudited consolidated interim accounts for the second quarter and first six months of 2021
As of the interim reports for the second quarter and the first six months of 2021, the Group has decided to make a change in the structure of the reporting of operating segments. A new security segment has been brought out and the former footwear segment is added to the segment of department stores. The respective comparative data is adjusted retrospectively. In the second quarter of 2021, the consolidated unaudited sales revenue of the Group was 207.2 million euros, which was 21.2% more than the sales revenue of the same period in 2020. The sales revenue in the first half of the year was 398.0 million euros, showing a growth of 14.8% compared to the result of the first half of 2020, when the sales revenue was 346.5 million euros. In the second quarter of 2021, the Group’s unaudited consolidated net profit was 9.9 million euros, which was 70.3% higher than the profit of the comparable period in the previous year. The Group’s net profit of the first six months of 2021 was 7.7 million euros, which was 89.9% higher than the result of the previous comparable period. The pre-tax profit earned in in the first half was 12.0 million euros, showing a 21.9% increase compared to last year. Net profit was affected by the dividend payment, from which 4.3 million euros of income tax was calculated in the first quarter of 2021; 5.8 million euros of income tax was calculated a year before. Read more