Unaudited consolidated interim accounts for the fourth quarter and twelve months of 2019

In the fourth quarter of 2019, the unaudited consolidated sales revenue of Tallinna Kaubamaja Group was 192.6 million euros, exceeding the results of the previous year by 5.6%. The sales revenue of twelve months was 717.2 million euros, showing a growth of 5.3% compared to the result of 2018, when the comparable sales revenue was 681.2 million euros. In the fourth quarter of 2019, the Group’s unaudited consolidated net profit was 14.1 million euros, which was 22.0% higher than the profit of the comparable period in the previous year. The Group’s net profit was 31.1 million euros in 2019, which is 2.3% higher than the previous year. The pre-tax profit earned in twelve months was 37.7 million euros, showing a 2.5% increase compared to last year. The net profit was influenced by a dividend payment, on which income tax in the amount of 6.3 million euros was calculated in the first quarter of 2019, compared to the income tax of 6.7 million euros calculated a year earlier. Accounting for leases in compliance with IFRS 16 (Leases) was first introduced in 2019, which resulted in net profit reduction by 1.5 million euros.

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