R-Kiosk retail chain has reported 2020 losses of EUR 4.1 million.
Taken with previous accounting periods, the company had accumulated losses of EUR 5.8 million as of the end of the 2020 accounting year.
In 2019, the company lost EUR 2.2 million and EUR 1.6 million in the previous year.
Sales revenue fell by 18.1%, to EUR 26.4 million, over the same period.
91% of sales revenue (EUR 24.1 million) derived from retail sales of groceries, beverages and tobacco products, down by 16%.
Newspapers and stationery made up 4% of total sales, falling by as much as 35.7%, while retail sale of other goods came to 2.2% of the total and brokerage services to 1.8%.
Wages grew by 8.2%, to EUR 3.7 million.
R-Kiosk, owned by Norwegian firm Reitan Convenience AS, had 91 outlets across Estonia in 2020, 22 of them operated by franchisees. The company employed 277 people, 15 more than in the previous year.
Reitan Convenience AS operates 7-Eleven, Narvesen, Pressbyran, R-Kioski, R-Kiosk, Lietuvos Spauda and Northland outlets across Scandinavia and the Baltic States.
It also runs 10 Caffeine cafes in Estonia. (ERR/Business World Magazine)
