The sales revenue of TKM Grupp amounted to 447.8 million euros in the first half of the year
09.07.2025The consolidated unaudited sales revenue of the group in the second quarter of 2025 was 232.8 million euros, which was 1.9% less than in the previous year. The sales revenue in the first half of the year was 447.8 million euros, which was a 2.4% decrease in comparison with the result of the first half of the year in 2024, when the sales revenue was 458.8 million euros. The consolidated unaudited pre-tax profit of the group in the second quarter of 2025 was 6.6 million euros, which was 32.7% lower than the profit of the comparable period last year. The pre-tax profit of the group for the first six months of 2025 was 7.9 million euros, which was 5.8 million euros less than the result of the comparable previous period.
Raul Puusepp, Chairman of the Management Board of TKM Grupp, pointed out that although the supermarket and real estate segments showed a growth in turnover in the first half of the year, overall consumer purchasing power is still under pressure and price sensitivity has increased. The economic uncertainty has been long-lasting, and for several years now all traders have been facing the daily challenge of finding ways to optimise operations and increase efficiency. ‘It is no surprise to anyone that general consumer uncertainty, decreased purchasing power, tax increases and wage pressures are making it difficult to maintain profitability levels in the current environment,’ Puusepp said. He added that the current top priority of the group is to maintain the trust of its loyal customers and to offer an acceptable price level to the 750,000 Partner Card holders in a difficult situation, which in turn has an impact on the sales margin.
‘The biggest increase in input prices has been in grocery – we are clearly seeing a preference for promotional products in Selver customers’ shopping baskets and a continued decline in volume sales. In order to adapt even better to the changed demand, we have significantly increased the number of promotional products, and in the first half of the year Selver also started selling products of the Scandinavian white label brand First Price, which represents affordable prices and reliable Scandinavian quality,’ Puusepp said. ‘Although the group is seeing the first signs of recovery, it will not be quick as it takes time for customer confidence to recover. The general economic uncertainty and conflicting global situations undoubtedly continue to have a negative impact,’ Puusepp added.
Commenting on the results of the car segment, Puusepp said that the negative impact of car tax in Estonia was somewhat mitigated by the results of Latvian and Lithuanian companies. ‘We are building a new multi-brand car showroom in Lithuania, and in addition to the KIA brand, Škoda dealerships and servicing will be an important business line in both countries,’ he added.
As for the future plans of the group, Puusepp points out that the development of convenience services for customers will definitely continue in the Partner Card App and the electronic channels of the group. In the second half of this year, Jõgeva Selver will be renovated. Preparations have started for the opening of Pärnu Papiniidu Selver in 2026 and the expansion and renovation of Laulasmaa Selver.
Supermarket segment
The consolidated sales revenue of the supermarket business segment in the second quarter of 2025 was 155.7 million euros, increasing by 3.6% compared to the same period of the previous year. The consolidated sales revenue was 304.0 million euros in the first half of the year, increasing by 2.5% year on year. In the second quarter of 2025, both the pre-tax profit and net profit were 3.4 million euros, which is 1.8 million euros less than in the reference period. The consolidated pre-tax profit of the supermarket segment in the first half of the year was 4.0 million euros, decreasing by 2.2 million euros compared to the reference base. In the first half of 2025, 22.1 million purchases were made from the stores, which is 1.8% more than in the previous year.
As at the end of June, the supermarket segment includes 72 Selver stores, two Delice stores, the Rändpood mobile store, and a café, with a total sales area of 123.8 thousand m2. In addition, it includes e-Selver, which is 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 Kaubamaja department stores segment in the second quarter of 2025 was 25.7 million euros, which was 1.0% better than in the previous comparable period. The sales revenue of the first six months was 48.4 million euros, which was 2.0% less than in the same period of the previous year. The Kaubamaja department stores segment did not generate a pre-tax profit in the second quarter and was 0.2 million euros below the result of the previous period. The pre-tax loss in the first six months of 2025 was 1.7 million euros, which was 0.7 million euros less than a year ago.
In the second quarter of 2025, the sales revenue of OÜ TKM Beauty Eesti, which operates the I.L.U. cosmetics stores, amounted to 1.9 million euros – 2.9% less than in the second quarter of 2024. In the second quarter of 2025, the loss was 0.1 million euros, which was 0.1 million euros less when compared to the comparable period of 2024. The sales revenue in the first six months of 2025 was 3.7 million euros, which is 4.8% less than in the same period of 2024. In the first six months of 2025, the loss amounted to 0.1 million euros, or 0.2 million euros more than during the same period in 2024.
Car trade segment
The sales revenue of the car trade segment in the second quarter of 2025 was 45.1 million euros, which was 16.6% less than the sales revenue of the second quarter of 2024. The pre-tax profit of the second quarter of 2025 amounted to 1.6 million euros, which is 1.7 million euros less than the profit of the same period of the year before. The sales revenue of the first six months was 82.5 million euros, decreasing by 16.7% in comparison with the same period of last year. In the first six months of 2025, the pre-tax profit of the segment amounted to 2.3 million euros, which is 3.3 million euros less year on year.
During the first six months, a total of 2433 new vehicles were sold, which was 23.3% less than the sales in previous year. In the second quarter, 1403 new vehicles were sold.
Security segment
The non-group sales revenue of the security segment for the second quarter of 2025 amounted to 4.4 million euros, decreasing by 24.1% compared to the same period last year. The non-group sales revenue of the security segment in the first half of 2025 amounted to 9.0 million euros, decreasing by 12.8% in comparison with the same period last year. The pre-tax loss of the second quarter of the segment was 0.3 million euros, increasing by 0.3 million euros compared to the same period last year. In the first half of the year, the pre-tax loss of the segment amounted to 0.4 million euros, increasing by 0.3 million euros compared to the same period last year.
Real estate segment
In the second quarter, the sales revenue earned in the real estate segment outside the group was 1.9 million euros. The sales revenue grew by 9.5% compared to the previous year. The sales revenue outside the group in the first half of 2025 was 3.9 million euros. The sales revenue increased by 12.6% compared to the same period last year. The pre-tax profit earned in the segment was 2.4 million euros in the second quarter. The pre-tax profit increased by 39.0% compared to the reference period. The pre-tax profit of the real estate segment in the first half of 2025 was 4.6 million euros, with the profit increasing by 17.5%.