Turnover of Apranga Group in October 2022

The retail turnover (including VAT) of the Apranga Group amounted to EUR 28.4 million in October 2022 and has increased by 23.9% in comparison to October 2021.

Last year in October the Republic of Latvia introduced restrictions related to spreading coronavirus: the operation of stores in shopping malls on weekends were banned in Latvia from 14 October 2021, and later all Group’s stores in Latvia were temporarily closed from 21 October 2021 until 15 November. These restrictions had a significant impact on the generated turnover in October 2021 in Latvia.

In October 2022, the retail turnover of the Group in Lithuania increased by 17.3%, in Latvia surged by 57.6% and in Estonia grew by 10.6% year-to-year.

Due to epidemic coronavirus (COVID-19) infection, from 16 December 2020, all the Group’s stores in Lithuania were temporarily closed. Stores with a separate entrance from the outside and sales area not exceeding 300 square meters were open from 15 February 2021. Stores with a separate entrance from the outside and a sales area exceeding 300 square meters were open from 15 March 2021. All Group’s stores have been reopened in Lithuania from 19 April 2021, however, stores operating in shopping malls were not allowed to work on weekends, unless they had separate entrance from outside. Eventually, all Group’s stores had been open in Lithuania as of 29 May 2021. In Latvia, stores were temporarily closed from 19 December 2020. Group‘s stores that operate in shopping malls and have separate entrance from outside had been reopened in Latvia as of 22 May 2021. Eventually, all Group’s stores had been open in Latvia as of 3 June 2021. In Estonia, all Group’s stores were temporarily closed from 11 March 2021 until 3 May 2021. These temporary closures had a significant impact on the Group's generated turnover in January-May 2021.

The retail turnover (including VAT) of Apranga Group reached EUR 237.2 million in January through October 2022 and was by 31.0% higher than in 2021 and by 19.7% higher than in 2019.

In January-October 2022, the retail turnover of Apranga Group in Lithuania increased by 25.6% year-to-year, in Latvia increased by 52.3% and in Estonia increased by 24.6%.

Currently Apranga Group operates the chain of 168 stores (100 in Lithuania, 44 in Latvia and 24 in Estonia) covering the gross area of 90.6 thousand sq. m., or by 2.5% less than a year ago.

Gabrielius Morkūnas

Apranga Group CFO