In the third quarter of 2025, the consolidated unaudited sales revenue of TKM Group amounted to 232.7 million euros

In the third quarter of 2025, the consolidated unaudited sales revenue of the Group was 232.7 million euros, which was 1.5% more than the sales revenue of the same period last year. The sales revenue in the nine months was 680.4 million euros, which was a 1.1% decrease in comparison with the result of the first nine months of 2024, when the sales revenue was 687.9 million euros. In the third quarter of 2025, the consolidated unaudited pre-tax profit of the Group was 8.1 million euros, which was 5.7% less than the profit of the same period last year. In the first nine months, the pre-tax profit was 16.0 million euros, down 28.1% compared to last year.
 
‘The first nine months of the year have presented many challenges and required us to adapt to turbulent times,’ commented Raul Puusepp, Chairman of the Management Board of TKM Group. ‘Like all other Estonian companies, we have faced instability in the general economic environment and a decline in consumer confidence. Mixed messages from the government about the future of the motor vehicle tax have not helped business, either,’ he added. Consumers remain price-sensitive, retail chains are engaged in fierce competition with campaigns, and pressure on margins is persistent. ‘However, we dare to look to the future with a little more optimism, primarily thanks to the tax changes announced in the state budget for next year. At the same time, it is still important that the discussion on reducing value-added tax on food continues,’ said Puusepp. ‘In Estonia’s competitive retail market, lowering the VAT on food would mean a clear win for consumers and would significantly improve people’s quality of life and day-to-day coping,’ he added.

Among the group’s most significant developments, Puusepp highlights the renovation of several Selver stores: the renovation of the Jõgeva Selver began in October, and plans for next year include the renovation of the Laulasmaa Selver, along with an expansion of its sales area. The new Papiniidu Selver is planned to open in Pärnu by early 2027 at the latest. Commenting on developments in the car trade segment, Puusepp spoke about the construction of a new KIA and Škoda showroom and service centre in Vilnius. The completion and commissioning of the building is planned for the last quarter of 2025. Construction work is also underway in Peetri, Estonia, where a bodywork shop is being built next to the KIA sales and service centre.

Puusepp added that despite the difficult times, the loyalty of the group’s regular customers remains high at Selver, Kaubamaja, as well as I.L.U. ‘The user convenience and satisfaction survey conducted in September among users of the Partner Card application gave us confidence that we are moving in the right direction in terms of both content and form,’ said Puusepp. By the end of September, the number of currently valid Partner Cards exceeded 750,000.

Supermarket segment
The consolidated sales revenue of the supermarket business segment in the third quarter of 2025 was 150.9 million euros, increasing by 0.9% compared to the same period of the previous year. The consolidated sales revenue of the first nine months of the year was 454.9 million euros, increasing by 1.9% year on year. In the third quarter of 2025, both the pre-tax profit and net profit were 4.7 million euros, which is 0.6 million euros less than in the reference period. The consolidated pre-tax profit of the supermarket segment in the first nine months of 2025 was 8.7 million euros, which is a decrease of 2.8 million euros in comparison with the reference year. In the first nine months of 2025, 33.5 million purchases were made from the stores, which is 1.3% more than in the previous year.
As at the end of September, the supermarkets segment included 72 Selver stores, two Delice stores, the mobile shop, and a café, with a total sales area of 123.8 thousand m², as well as e-Selver, the e-shop with the largest service area in Estonia, and the central kitchen Kulinaaria OÜ.

Kaubamaja department stores segment
The sales revenue of the third quarter of 2025 in the Kaubamaja department stores business segment was 22.4 million euros, which was 3.8% more than during the reference period last year. The sales revenue of the first nine months was 70.8 million euros, which was 0.2% less than last year. The pre-tax loss of the Kaubamaja department store segment in the third quarter of 2025 was 1.0 million euros. The pre-tax loss decreased by 0.1 million euros. The pre-tax loss for the nine months was 2.7 million euros, which was 0.6 million euros lower than the result of last year.

In the third quarter of 2025, the sales revenue of OÜ TKM Beauty Eesti, which operates the I.L.U. cosmetics stores, was 1.9 million euros, which is 4.6% less than in the third quarter of 2024. The loss in the third quarter was 0.02 million euros, a decline of 0.1 million euros compared to the reference period in 2024. The sales revenue in the first nine months of 2025 was 5.6 million euros, which is 4.7% less than in the same period of 2024. The loss in the first nine months of 2025 was 0.2 million euros, which was a decline of 0.3 million euros compared to the same period in 2024.

Car trade segment
The sales revenue of the car trade segment in the third quarter of 2025 was 52.7 million euros, which was 4.1% more than the sales revenue of the third quarter of 2024. The sales revenue of the first nine months was 135.2 million euros, decreasing by 9.6% in comparison with the same period of last year. The segment’s pre-tax profit in the third quarter of 2025 amounted to 2.5 million euros, which is 0.7 million euros less than the profit of the same period of the year before. The pre-tax profit for the nine months was 4.8 million euros, which was 4.1 million euros lower than the result of last year. In the third quarter, 1,592 new vehicles were sold – 1.4% more than in the same period last year. During the first nine months, a total of 4,025 new vehicles were sold, which was 15.1% less compared to the previous year.

Security segment
The non-group sales revenue of the security segment for the third quarter of 2025 amounted to 4.8 million euros, decreasing by 15.4% compared to the same period last year. The segment’s pre-tax profit in the third quarter was 0.2 million euros, marking a decline of 0.2 million euros compared to the same period last year. The non-group sales revenue of the security segment in the first nine months of 2025 amounted to 13.7 million euros, decreasing by 13.7% in comparison with the same period last year. The pre-tax loss of the segment in the first nine months of the year was 0.2 million euros, a downturn of 0.5 million euros compared to the same period last year.

Real estate segment
The sales revenue earned in the real estate segment outside the group was 1.9 million euros in the third quarter of 2025. Sales revenue increased by 12.1% compared to the previous year. The sales revenue of the segment outside the Group in the first nine months was 5.8 million euros. Sales revenue increased by 12.4% compared to the same period last year. The pre-tax profit earned in the real estate segment was 2.4 million euros in the third quarter of 2025. The pre-tax profit increased by 45.4% compared to the reference period. The pre-tax profit of the real estate segment in the first nine months of 2025 was 7.0 million euros, increasing by 25.8%.