July 11, 2014 6:58 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. 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 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.

RIMI Baltic Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2013

RIMI Baltic announced earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company announced net sales of SEK 2,581 million compared to SEK 2,589 million for the same period a year ago. Operating profit excl. non-recurring items was SEK 72 million compared to SEK 60 million for the same period a year ago. For the six months, the company announced net sales of SEK 4,947 million compared to SEK 5,007 million for the same period a year ago. Operating profit excl. non-recurring items was SEK 112 million compared to SEK 89 million for the same period a year ago. The improvement is mainly due to higher sales and improved gross margins.

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