The consolidated revenue of the companies operated by MAXIMA GRUPĖ, UAB in the Baltic States (hereinafter – the Group) increased by 2.8% year on year in the first half of 2026, reaching EUR 2.03 billion. Consolidated like-for-like retail revenue grew by 2.1%.
“The first half of 2026 stands out for MAXIMA retail chains reducing the regular prices of 9 thousand food products in Lithuania and 4 thousand in Latvia. This step strengthens our position as the low-price leader and enables customers to purchase products at lower prices every day without having to wait for special offers. This is a significant change for our business, partners and customers with established shopping habits,” emphasises Petras Jašinskas, Chief Financial Officer of MAXIMA GRUPĖ, UAB.
The Group’s revenue growth remained stable and exceeded food inflation in the Baltic States, which stood at approximately 2% in the first half of the year. Revenue increased across all country operators, with Lithuania contributing the most to the overall growth. Revenue in Lithuania grew by 4.6% to EUR 1.16 billion in the first half of the year. Retail revenue in Latvia increased by 0.6% to EUR 559.7 million, and by 1.3% to EUR 297.9 million in Estonia. Sales of goods through “Barbora’s” online stores in the Baltic States grew by 0.4% to EUR 75 million in the first half of the year.
The Group’s EBITDA increased by EUR 0.7 million to EUR 169.9 million. The EBITDA margin stood at 8.4%, down 0.2 percentage points year on year. The decline in the EBITDA margin was primarily driven by rising labour, energy and fuel costs. The Group continues to offset the impact of these costs on its results by consistently improving operational efficiency.
MAXIMA GRUPĖ, UAB allocated EUR 101 million from retained earnings as dividends to its sole shareholder, UAB “Vilniaus prekyba”.
In the first half of 2026, the Group increased its investments in expanding its network of owned stores. Investments in fixed assets amounted to EUR 63.8 million, an increase of EUR 30.9 million compared with the same period last year.
At the end of the first half of 2026, the Group’s net debt to EBITDA ratio stood at 2.0x. The ratio improved compared with the end of the first half of 2025, although the Group’s net debt increased to EUR 764.5 million.
Note: The first-half 2026 results in this release are compared with the corresponding continuing-operations results for the first half of 2025. Continuing operations comprise the Baltic retail chains that remained within the Group following the sale of its businesses in Poland and Bulgaria at the end of 2025.
