Lidl Lietuva, a leading supermarket chain in Lithuania, is reducing its authorized share capital by 30 million euros, with the funds to be paid to its sole shareholder, the German retail management and real estate and financial services company CE-Beteiligungs.
The shareholder approved the share capital cut from 67.7 million euros to 37.7 million euros on June 30, according to its decision filed with the Lithuanian Center of Registers.
CE-Beteiligungs also decided to forgo dividends and to carry over the entire distributable profit for 2023 – 107.57 million euros – into the financial year ending in March 2025.
Lidl Lietuva’s net profit in the 2023-2024 financial year slumped down to 16.3 million euros, from the previous year’s 46.6 million euros. Annual revenue rose by 6.2 percent to 870.57 million euros.
The company has said the results were due to reduced product prices, increased wages, the expansion of its retail chain, and investments in a new logistics center in Lentvaris, which opened in May.
Lidl operates 74 stores in 28 Lithuanian cities and towns, four of which were opened in the last financial year.
Source: BNS
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