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August 31, 2015 2:19 PM ET

Food and Staples Retailing

Company Overview of Rimi Baltic, SIA

Company Overview

Rimi Baltic, SIA operates supermarkets, hypermarkets, and discount shops in Baltic States. It primarily offers food products, fancy brands, ecological products, and essentials. The company also offers private labeling services. Rimi Baltic, SIA was founded in 2005 and is based in Riga, Latvia. The company operates as a subsidiary of ICA Baltic AB.

A. Deglava street 161

Riga,  1021

Latvia

Founded in 2005

Phone:

371 67 045 409

Fax:

371 67 045 400

Key Executives for Rimi Baltic, SIA

Chief Executive Officer
Age: 54
Country Managing Director of Rimi Lietuva
Country Managing Director of Rimi Latvia
Deputy Director
Age: 47
Director of Saastumarket chain of discounter stores
Compensation as of Fiscal Year 2015.

Rimi Baltic, SIA Key Developments

Rimi Baltic Announces Earnings Results for the Second Quarter and First Six Months Ended June 30, 2015

Rimi Baltic announced earnings results for the second quarter and first six months ended June 30, 2015. For the quarter, the company announced net sales of SEK 3,136 million compared to SEK 2,888 million for the same period a year ago. Operating profit before depreciation (EBITDA) was SEK 235 million compared to SEK 156 million for the same period a year ago. Operating profit excluding non-recurring items was SEK 99 million compared to SEK 86 million for the same period a year ago. Higher sales volumes, lower purchasing prices and an increased proportion of private labels sales had a positive impact on earnings while higher store costs had the opposite effect. For the six months, the company announced net sales of SEK 6,068 million compared to SEK 5,485 million for the same period a year ago. Operating profit before depreciation (EBITDA) was SEK 385 million compared to SEK 284 million for the same period a year ago. Operating profit excluding non-recurring items was SEK 177 million compared to SEK 145 million for the same period a year ago.

Rimi Baltic Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014

Rimi Baltic reported earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net sales of SEK 3,195 million compared to net sales of SEK 2,838 million for the same period a year ago. Operating profit (EBIT) excluding non-recurring items was SEK 145 million compared to operating profit (EBIT) excluding non-recurring items of SEK 113 million last year. For the year, the company reported net sales of SEK 11,632 million compared to net sales of SEK 10,333 million for the same period a year ago. Operating profit (EBIT) excluding non-recurring items was SEK 383 million compared to SEK 308 million last year.

Rimi Baltic Reports Earnings Results for the Third Quarter and Nine Months Ended September 2014

Rimi Baltic reported earnings results for the third quarter and nine months ended September 2014. Rimi Baltic's net sales amounted to SEK 2,952 million against SEK 2,548 million in the third quarter. In local currency sales rose 9.2%, mainly due to a strong performance in Latvia and Lithuania. Like-for-like sales rose by 6.2%. Taken overall, Rimi Baltic continued to gain market shares during the third quarter. Operating profit excluding non-recurring items amounted to SEK 93 million against SEK 85 million. The positive effect, primarily in Latvia, from increased sales was partly offset by increased costs linked to a higher number of stores, store conversions and the establishment of new stores. Rimi Baltic's net sales amounted to SEK 8,437 million against SEK 7,495 million in the period January - September 2014. Sales in local currency rose 6.8%, mainly due to a good performance in Latvia and Lithuania. Like-for-like sales rose 4.3%. Operating profit excluding non-recurring items amounted to SEK 238 million against SEK 195 million. The improvement was mainly due to higher sales, better purchase prices and mix.

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