R-Kiosk reports €4.1 million loss for 2020

Inside an R-Kiosk in Estonia.
Inside an R-Kiosk in Estonia. Source: R-Kiosk

R-Kiosk retail chain has reported 2020 losses of €4.1 million.

Taken with previous accounting periods, the company had accumulated losses of €5.8 million by the end of the 2020 accounting year.

In 2019 the company lost €2.2 million, and €1.6 million the previous year.

Sales revenue fell by 18.1 percent, to €26.4 million, over the same period.

Ninety-one percent of sales revenue (€24.1 million) derived from retail sales of groceries, beverages and tobacco products, a fall of over 16 percent on year.

Newspapers and stationery made up 4 percent of total sales, falling by as much as 35.7 percent on year, while retail sale of other goods came to 2.2 percent of the total, and brokerage services 1.8 percent.

Wages grew by 8.2 percent on year, to €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 the previous year.

Reitan Convenience AS operates 7-Eleven, Narvesen, Pressbyran, R-Kioski, R-Kiosk, Lietuvos Spauda and Northland outlets across Scandinavia and the Baltics.

It also runs 10 Caffeine cafes in Estonia.

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Editor: Andrew Whyte

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