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Losses were caused by investments and related processes. The company plans to cover the losses using future years’ profits, the report said.
In total, since 2016, “Lidl” has invested 111.1 million euros in long-term assets in Estonia. In the last financial year, the company invested 25.1 million euros. In order to finance the investments of 2022, the owner of “Lidl Eesti”, the German “CE-Beteiligungs-GmbH”, increased the company’s share capital by 40 million euros.
In the last financial year, “Lidl Eesti” had an average of 740 employees, and the cost of salaries reached approximately 15.3 million euros.
This year, the company plans to focus on its core retail business and continue expansion efforts. The management report of the annual report indicates that the company’s price positioning in the low price segment allows it to attract long-term customers.
“Lidl” started its core business in Estonia in March 2022, simultaneously opening eight stores in several cities. Since then, it continues to open new stores and will soon open its 13th store in Estonia.
In the financial year that ended on February 28, 2022, “Lidl Eesti” suffered a loss of 24.8 million euros.
2023-08-31 05:31:00
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