The consolidated non-audited sales revenue of the Tallinna Kaubamaja Group for the 1st half-year of 2011 was 206.2 million euros, having grown by 4.6% compared to the results of the 1st half-year of 2010, when the sales revenue was 197.2 million euros. In the 2nd quarter, the Group’s sales revenue was 110.1 million euros, thus exceeding the sales revenues of the same period last year by 6.5%. The reference base was influenced by the sales tax, levied in Tallinn since June 2010, which decreased the Group’s sales revenue for the 1st half-year of 2011 by 1.0 million euros (by 0.2 million euros during the 1st half-year of 2010). As of 01.01.2011, the principles for calculating the sales revenue of the Group changed and the reference data of 2010 have been adapted to the new principles. As a result, an additional 4.8 million euros have been recorded in the sales revenue of the 1st half-year of 2010.
The consolidated sales revenue of the business segment of supermarkets in the 1st half-year of 2011 was 153.3 million euros, having grown by 2.9% compared to the same period of the previous year. The consolidated sales revenue of the 2nd quarter was 81.2 million euros, having grown by 4.4% compared to the same period of the previous year. The month’s average sales revenue of goods per one square metre of selling space in the 1st half-year of 2011 was 0.36 thousand euros, having grown compared to 2011 by 3.3% in the consolidated view and 2.5 % in the view of the Estonian market. In the 2nd quarter, the sales revenue per one square metre of selling space was 0.38 thousand euros, thus showing an increase of 4.9% in both consolidated data and the Estonian market. The sales revenue of goods per one square metre of selling space in the comparable stores was an average of 0.37 thousand euros in the 1st half-year of 2011 and 0.39 thousand euros in the 2nd quarter, thus displaying an increase of 3.2% and 5.4%, respectively. In the Selver stores located in Estonia, 16.3 million purchases were made in the 1st half-year of 2011, which is 0.1% lower than the number of purchases made a year before. The sales revenue of Selver’s goods is mainly due to successful sales campaigns and the successful sales during the week of St John’s Day, supported by fine weather. In addition, the increase in the sales revenue of goods is influenced by the overall increase in the price of food products that has occurred in Estonia, resulting in a decrease of sales volumes all over the country and in Selver stores. From the second half of the 2nd quarter, the bulk turnover growth became positive. Compared to the previous year, the sales revenue growth has been negatively affected by the continued tight competition on the retail market and the levy of the sales tax in Tallinn. In addition, closing the Kadaka Selver for a 1-month period of repair works had a negative influence on the sales revenue. The renewed Kadaka Selver was opened to customers on 21 April. Due to the closing of Latvian stores, the sales revenue of Selver in Latvia was 0.8 thousand euros in the 1st half-year, while there was no sales revenue of goods in Latvia during the period surveyed. The sales revenue in Latvia in the 1st half-year of 2010 was 29.1 thousand euros. The Selver chain includes 35 stores and a central kitchen.
In the 1st half-year of 2011, the sales revenue of the business segment of department stores was 36.3 million euros, having increased by 4.2% compared to the same period of the previous year. Of that, the sales revenue of the 2nd quarter was 19.4 million euros, which was 6.2% higher than the sales revenue of the 2nd quarter of 2010. The sales revenue of department stores per square metre of selling space in the 1st half-year was 238 euros per month, 3.4% more than in the same period of the previous year. In the second quarter, the results of the department stores were positively influenced by successful selection of seasonal goods and different campaigns – during the annual discount event Osturalli in April, the sales revenue of the previous year was exceeded by 10%. In addition, during Ostuöö in May, the level of the previous year was exceeded by 17%. In the 1st half-year of 2011, the sales revenue of OÜ TKM Beauty Eesti, which operates the I.L.U. beauty stores, was 1.2 million euros, having grown by 33.3% compared to the same period of the previous year. Of that, the sales revenue of the 2nd quarter was 0.7 million euros, 39.8% higher than the corresponding period of 2010. Compared to the second quarter of the previous year, in September 2010 the I.L.U. chain opened a fourth store in Tallinn in the Kristiine Centre and a fifth store has been open in the Ülemiste Centre in Tallinn since April.
The external sales revenue of the real estate business segment for the 1st half-year of 2011 was 1.4 million euros, having increased by 5.2% compared to the same period of the previous year. The sales revenue of the second quarter of the accounting year was 0.7 million euros, which is 10.4% more than the result of the 2nd quarter of 2010. Increase in revenues is mainly due to increased rental rates.
The sales revenue of the vehicle segment for the 1st half-year without inter-segment transactions was 9.0 million euros, thus exceeding the sales revenue of the same period of the previous year by 44.6%. The sales revenue of 5.1 million euros earned in the second quarter exceeded the sales revenue of a year earlier by 56.5%.
The turnover for the footwear segment in the 1st half-year of 2011 was 6.2 million euros, having grown by 5.8% in a year. In the 2nd quarter, the turnover was 3.6 million euros, exceeding the same period of 2010 by 7.8%. In the second quarter, liquidating the stores operating under the brand Suurtüki/Stepperi was concluded – in April, the last Suurtüki store was closed. At the moment, the Group’s footwear chain includes 9 ABC King stores in Estonia and 2 in Latvia, 2 Nero stores in Estonia and 1 in Latvia and 13 Shu stores in Estonia. In the third quarter, the focus will be on improving the efficiency indicators of the footwear segment. There are no plans to open new stores in the 3rd quarter, but a project is being prepared in Estonia. During the project, one ABC store will be renovated and a new Shu store will be opened. According to plans, the project will end in the 4th quarter of 2011.
Raul Puusepp
Chairman of the Board
Phone +372 731 5000