January 26, 2015 11:40 AM 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. Rimi Baltic also offers private labeling services. The company was founded in 2005 and is based in Riga, Latvia. Rimi Baltic, SIA operates as a subsidiary of ICA Baltic AB.

A. Deglava street 161

Riga,  1021

Latvia

Founded in 2005

Phone:

371 67 045 529

Fax:

371 6 7045 400

Key Executives for Rimi Baltic, SIA

Chief Executive Officer
Age: 53
Country Managing Director of Rimi Lietuva
Country Managing Director of Rimi Latvia
Deputy Director
Age: 46
Director of Saastumarket chain of discounter stores
Compensation as of Fiscal Year 2014.

Rimi Baltic, SIA Key Developments

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.

Rimi Baltic Announces Earnings Results for the First Quarter Ended March 31, 2014

Rimi Baltic announced earnings results for the first quarter ended March 31, 2014. For the quarter, the company's net sales were SEK 2,597 million compared with SEK 2,366 million a year ago. Sales in local currency was increased by 5.1%, mainly due to a good performance in Latvia and Lithuania. Easter had a negative effect on sales during the quarter. Operating profit excluding non-recurring items was SEK 59 million compared with SEK 38 million a year ago. The increase is mainly due to higher sales and improved margins.

Rimi Baltic Announces Earnings Results for the Fourth Quarter and Year Ended December 2013

Rimi Baltic announced earnings results for the fourth quarter and year ended December 2013. Rimi Baltic's net sales amounted to SEK 2,838 million in the fourth quarter against SEK 2,625 million a year ago. Sales in local currency increased by 5.2%, mainly due to a good performance in Latvia and Lithuania. Operating profit excluding non-recurring items amounted to SEK 113 million against SEK 101 million a year ago. The improvement is mainly due to higher sales and continued good control of costs. Rimi Baltic's net sales amounted to SEK 10,333 million during the year against SEK 10,050 million a year ago. Sales in local currency rose by 3.5%. Operating profit excluding non-recurring items amounted to SEK 308 million against SEK 259 million a year ago. The improvement is due to higher sales and improved gross margins in all countries.

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