Expansion by group companies increased Vilniaus Prekyba’s profit by 31% to EUR 227.6 million
The Vilniaus Prekyba group’s audited consolidated turnover in 2018 was EUR 4.3 billion, or 28.9% more than in 2017, when it was EUR 3.3 billion. Companies in the Vilniaus Prekyba group employed 45 527 persons, compared with 34 798 in 2017. The number of employees grew significantly due to the acquisition of new subsidiaries in Poland, Sweden and Estonia. Vilniaus Prekyba’s audited net profit in 2018 was EUR 227.6 million and, compared to 2017, increased by EUR 54.4 million. The net profit increase was due to growth in the value of investment assets and to the operating results of subsidiaries acquired in 2018. The group had a tax bill of EUR 253.5 million in Lithuania last year.
“The year 2018 was intense for the Vilniaus Prekyba group. Since 2017 the group had been searching intensely for new opportunities to expand effectively in existing and new markets, giving special attention to realizing the group’s strategic goal of increasing the share of business in foreign markets. In 2018 the group expanded actively. Now we plan to grow organically and take a conservative, measured approach to future acquisitions,” says Mantas Kuncaitis, the CEO of the Vilniaus Prekyba holding company.
In 2018, Vilniaus Prekyba’s MAXIMA GRUPĖ subsidiary completed a transaction to acquire 100% of Emperia Holdings S.A, the owner of Poland’s Stokrotka retail chain. A nominal EUR 300 million of bonds were issued with a 3.25% annual coupon. The bonds trade on Ireland’s Euronext Dublin exchange and on the Nasdaq Vilnius exchange in Lithuania. They will be redeemed on 13 September 2023. During 2018, companies owned by MAXIMA GRUPĖ opened 107 new stores, of which 17 operate on a franchise basis.
The EUROAPOTHECA subsidiary last year completed the acquisition of Apoteksgruppen i Sverige Holding AB, a Swedish provider of management and franchise services for 189 Apoteksgruppen pharmacies, and of a chain of 159 pharmacies operating under the Apoteksgruppen name, control of which it assumed from private investors. The indirectly controlled company Euroapteek OÜ acquired a chain of 13 Ülikooli Apteek pharmacies in Estonia and began to offer franchise services to 11 pharmacies that operate under the name of Ülikooli Apteek. During 2018, companies owned by EUROAPOTHECA opened 28 new pharmacies, of which 16 operate on a franchise basis.
The ERMI GROUP UAB subsidiary acquired the Bauhof chain of stores for building materials and home improvement and household goods in Estonia.