Estonia's Tallinna Kaubamaja Q2 sales rise, driven by car segment acquisitions

TKM Grupp AS

10/07/2026 14:42

Overview
Estonia retail conglomerate's Q2 sales rose 9.6% yr/yr, led by car segment growth
Q2 profit before tax fell 7.2% yr/yr as supermarket segment sales and profit declined
Net profit for H1 rose, helped by lower income tax expense

Outlook
Company plans to open new Selver stores in Loo and Papiniidu in second half of yr
Car segment to add new KIA and Škoda models towards end of yr
Company sees continued focus on cost efficiency and supply chain improvements

Result Drivers
CAR SEGMENT GROWTH - Car segment was main growth driver, with strong revenue and profit gains supported by market growth in Estonia and Lithuania and recent acquisitions
SUPERMARKETS DECLINE - Selver supermarkets segment saw declines in sales and profit, attributed to weakened consumer purchasing power, intensified competition, and no new store openings
DEPARTMENT STORE ACCESS ISSUES - Department stores segment's results were negatively affected by extensive traffic restrictions near the Tallinn store, limiting customer access

Company press release: ID:nGNE38C4nf

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
EUR 483.6 mln
 
H1 Net Income
 
EUR 1.4 mln
 
H1 Pretax Profit
 
EUR 8.2 mln
 

Analyst Coverage
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 17 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)