In 2024, the sales revenue of TKM Grupp amounted to 944.6 million euros

In 2024, the unaudited sales revenue of TKM Grupp was 944.6 million euros – a 0.3% decrease in comparison with the result of 2023. In the fourth quarter of 2024, the consolidated unaudited sales revenue of TKM Grupp was 256.6 million euros, which was 1.6% more than the sales revenue of the year before.

The pre-tax profit of 2024 was 35.5 million euros, which is a 17.5% decline compared to the year before. The consolidated unaudited pre-tax profit of Q4 was 13.2 million euros, an increase of 1.0%, supported by the sale of real estate not essential for the main activity.

‘2024 was a difficult year for Estonian merchants. Due to the tense geopolitical situation and the anticipation of various domestic tax increases, customer confidence continues to be low. The drawn-out crisis, spanning years by now, inhibits consumption and forces to consider any purchase decisions more carefully as well as postpone them if possible. Regardless, TKM Grupp can look back on the year with a certain amount of satisfaction. We continued with the planned activities based on our long-term strategy and invested 36.6 million euros in our future,’ said Raul Puusepp, Chairman of the Management Board of TKM Grupp.

Among major projects, Puusepp highlighted the completion of the new logistics centre of the group. The centre, constructed in Maardu near Tallinn, is one of the largest strategic investments of the group in the last few years. ‘The new logistics centre allows to plan the procurement of goods and the optimal level of stock better. For customers, this would mean that stores carry the right quantity of high-quality inspected goods at the right time. Similarly to our other investments, sustainability was essential in the completion of the logistics centre. The goal was to construct a building that would be as energy-efficient as possible, and therefore, creating a solar park, for example, was a natural part of the process. The BREEAM certificate gives confidence to us as well as our partners. The fact that we want to reduce the number of kilometres travelled by freight lorries by 1 million kilometres a year is also important for us,’ stated Puusepp.

In 2024, two new Selver Hypermarkets were opened – one in Rocca al Mare shopping centre in Tallinn and the other in Raadi in Tartu. In Tartu, the Toidumaailm grocery department of Kaubamaja was overhauled with a new concept and the process of updating the I.L.U. beauty stores was also completed. A contemporary Viking Motors dealership in Peetri was added to the car trade segment of the group. In addition, the construction of a new multi-brand car trade centre began in Lithuania.

‘This year is largely impacted by decreased purchase power due to tax hikes and inflation, diminishing people’s confidence and making them cautious in purchase decisions. Regardless, we are moderately optimistic and looking for opportunities to grow our business in the long run. 744 thousand loyal customers holding a Partner Card gives us a good position for facing the coming challenges,’ said Puusepp. ‘Although a small economic growth is predicted, I dare guess that merchants will not feel any alleviation in the situation this year just yet,’ added Puusepp.

The consolidated sales revenue of the supermarket business segment in 2024 was 610.4 million euros, decreasing by 1.6% compared to last year. The consolidated sales revenue of Q4 was 164.1 million euros, decreasing by 0.5% compared to last year. In the fourth quarter of 2024, the pre-tax profit was 4.6 million euros, which is 2.8 million euros less than in the base period. The consolidated pre-tax profit of the supermarket segment in 2024 was 16.0 million euros, decreasing by 4.0 million euros in comparison with the previous year. At Selver stores, 44.4 million purchases were made in 2024. The number of purchases remains on the same level as the previous year (+0.4% change). As at the end of 2024, the supermarket segment includes 73 Selver stores, 2 Delice stores, the Rändpood mobile store, and a café, with a total sales area of 124.8 thousand m². In addition, it includes e-Selver, which is the e-shop with the largest service area in Estonia, and the central kitchen Kulinaaria OÜ.

In 2024, the sales revenue of the Kaubamaja department stores segment was 104.2 million euros, which was 5.7% less than in the same period of the previous year. The sales revenue of the fourth quarter was 33.2 million euros, which was 4.7% less than last year. In 2024, the pre-tax loss of the Kaubamaja department stores segment was 0.3 million euros – 2.0 million euros lower than the year before. In the fourth quarter, the pre-tax profit was 1.8 million euros, which was 7.2% lower than in the comparable period last year.

The 2024 sales revenue of OÜ TKM Beauty Eesti, which operates the I.L.U. cosmetics stores, was 8.7 million euros, which was 3.0% more than in 2023. The sales revenue of Q4 2024 was 2.8 million euros, which is 2.1% less than in the same period in 2023. In the fourth quarter of 2024, the pre-tax profit was 0.1 million euros, which is 0.1 million euros less than in the fourth quarter of 2023. The pre-tax profit in 2024 was 0.2 million euros, which was 0.2 million euros less than in 2023.

The sales revenue of the car trade segment in 2024 was 200.8 million euros, which was 3.3% higher than the same result of the previous year. The sales revenue of 51.2 million euros in the fourth quarter exceeded the sales revenue of the same period in the previous year by 12.0%. During the year, a total of 6,619 new vehicles were sold, 1,878 of them in the fourth quarter. In 2024, the pre-tax profit of the segment was 11.1 million euros, which is 16.1% lower than the year before. The pre-tax profit of the fourth quarter of 2024 was 2.3 million euros, which was 0.4 million euros more than the profit of the same period of the year before.

The external sales revenue of the security segment in 2024 was 21.9 million euros, increasing by 39.6% compared to the year before. The non-group sales revenue of the fourth quarter of 2024 was 6.0 million euros, increasing by 13.5% compared to the same period last year. The pre-tax loss of the fourth quarter of the segment was 0.1 million euros, decreasing by 0.1 million euros compared to the same period last year. In 2024, the pre-tax profit of the segment was 0.2 million euros, increasing by 0.3 million euros compared to last year.

The sales revenue earned in the real estate segment outside the group was 7.3 million euros in 2024. The sales revenue increased by 10.8% compared to the previous year. In the fourth quarter, the sales revenue earned by the segment outside the group was 2.1 million euros. The sales revenue grew by 23.7% compared to the previous year. The pre-tax profit of the real estate segment in 2024 was 11.1 million euros, with the profit increasing by 6.0%. In Q4, the pre-tax profit of the segment was 5.5 million euros. The pre-tax profit increased by 2.7 million euros compared to the reference period.