The retail turnover (including VAT) of Apranga Group was EUR 81.2 million in 1st half 2021 or by 6.3% less than in 2020 and by 25.2% less than in 2019.
Due to epidemic coronavirus (COVID-19) infection, from 16 December 2020, all the Group’s stores in Lithuania were temporarily closed. Stores in Lithuania with a separate entrance from outside and a sales area not exceeding 300 square meters had been open since 15 February 2021. All stores with a separate entrance from outside had been open since 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 have been open in Lithuania as of 29 May 2021. In Latvia, stores were temporarily closed from 19 December 2020. Stores with a separate entrance from outside and an area not exceeding 7,000 square meters have been open in Latvia from 7 April 2021. Group‘s stores that operate in shopping malls and have separate entrance from outside were reopened as of 22 May 2021. Eventually, all Group’s stores have been open in Latvia as of 3 June 2021. In Estonia, all Group’s stores were temporarily closed from 11 March 2021, and from 6 March 2021 to 11 March 2021 stores were not allowed to work on weekends. All Group‘s stores have been reopened in Estonia from 3 May 2021.
These temporary store closures had a significant impact on the Group's generated turnover, earned profit and, accordingly, financial ratios for the first half of 2021. Management estimates that due to the COVID-19 pandemic and the temporary closure of stores, the Group lost about EUR 37-39 million of turnover (including VAT), out of which about EUR 50 million were lost in physical stores, the Group did not receive about EUR 15-16 million of gross profit and did not earn about 3.5 million of profit before income tax during the period of January-May 2021.
The unaudited consolidated profit before income tax of Apranga Group amounted to EUR 1.2 million in the six months of 2021, while the Group has made a loss of EUR 0.5 million in the same period of 2020. The Group had a profit before income tax of EUR 3.7 million in the same period of 2019.
EBITDA of Apranga Group reached EUR 11.2 million in the six months 2021 and increased by 10.1% comparing to corresponding period of 2020.
The unaudited interim consolidated financial statements and consolidated interim report of Apranga Group for six months of 2021, as well as managers’ confirmation letter are ready for acquaintance in the attachment. The interim information is also available at: http://aprangagroup.lt/en/investors.
„Apranga“ Group General Manager
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