DOCSLIB.ORG

Guide to Baltic Market 2004-2005

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Guide to Baltic Market 2004-2005 Guide to Baltic Market 2004-2005 EFFICIENT SECURITIES TRANSACTIONS Baltic Market Overview 2004-2005 Foreword 4 Apranga 40 Rokiškio Sūris 62 I-List companies 82 Joint Baltic market 7 Baltika 42 SAF Tehnika 64 List of members 84 Baltic macroeconomic overview 30 Eesti Telekom 44 Snaigė 66 Contacts 86 Taxation 35 Ekranas 46 Starman 68 Harju Elekter 48 Tallinna Kaubamaja 70 Latvijas Gāze 50 Tallinna Vesi 72 Latvijas kuģniecība 52 Utenos trikotažas 74 Lietuvos Telekomas 54 Ventspils nafta 76 Merko Ehitus 56 Vilniaus baldai 78 Norma 58 Vilniaus Vingis 80 Pieno Žvaigždės 60 2 GUIDE TO BALTIC MARKET 3 Dear reader, You are holding a fresh copy of an overview of the Baltic securities market. So what have we done thus far to make trading in the Baltics easier for our This marks the second time that the Tallinn, Riga and Vilnius stock exchanges customers? There are many milestones in our history, one of them is the join efforts to guide our readers through the Estonian, Latvian and Lithuanian migration of Vilnius to the SAXESSTM trading system in the spring of 2005, securities markets. which enabled all members of the Baltic and Nordic exchanges to trade in the same system, and our investors therefore have access to eight different markets The idea of integrating the three Baltic markets to provide a “one-stop-shop” for through one access point. The common blue-chip index BALTIX serves as a investors was born more than six years ago through a letter of intent signed by the benchmark indicator for the Baltic markets. Our rules are harmonized with Baltic exchanges. This was a natural step for us to take since most of the investors those of NOREX and in line with EU legislation. We established the delivery- see the three countries as a single investment area. Today, the Estonian, Latvian versus-payment settlement links between the Estonian, Latvian and Lithuanian and Lithuanian stock exchanges are closer to this goal than ever, forming a joint depositories to facilitate cross-border trading. The Baltic securities trading value offering to the customers - an offering, which reaches beyond the Baltic area information is published jointly at http://market.ee.omxgroup.com/. Finally, the and into the Nordic region through OMX our parent company and the leading introduction of MSCI’s Global Industry Classification Standard in mid-2005 has Nordic-Baltic securities market operator. meant that the companies listed on the Baltic exchanges can now be compared more easily with their global peers. Kaidi Oone Daiga Auziņa-Melalksne Dalia Jasulaitytė Chairman of the Tallinn Stock Exchange Management Board Chairman of the Riga Stock Exchange Management Board Chairman of the Vilnius Stock Exchange Management Board OMX Exchanges OMX Exchanges OMX Exchanges 4 GUIDE TO BALTIC MARKET FOREWORD 5 Joint Baltic market Less than a year after the introduction of the joint Baltic market concept, we now HISTORICAL HIGHLIGHTS have several members who actively trade pan-Baltic. The settlement links are among the busiest in the CEE and Nordic region. After regaining of independence in the beginning of the 1990s, Lithuania was the first of the three Baltic states to establish a national stock exchange and launch The economies of the Baltic region are among the fastest developing in the world. electronic securities trading in 1993. Latvia followed in 1995 and Estonia in 1996. In 2004, the GDP growth rates of Estonia, Latvia, and Lithuania were 7.8%, 8.5%, 6.7%, respectively. This remarkable development is also reflected on the stock In 2000, the Tallinn Stock Exchange acquired 100 percent of the Estonian Central markets: the BALTIX index is up 29% since the beginning of 2005. Sustainable Securities Depository (CSD). economics provide excellent opportunities for companies to raise new capital, and during the first half of 2005 the Baltic markets witnessed successful IPOs In April 2001, the Helsinki Stock Exchange (HEX) bought a majority stake in the of two Estonian companies Starman and Tallinna Vesi. We believe that more Tallinn Stock Exchange, and in February 2002, the two exchanges moved to the IPOs will follow this year, which will give a further boost to the Baltic securities same trading system. 2002 was also the year when the Helsinki Stock Exchange market. acquired a majority stake in the Riga Stock Exchange and the Latvian CSD. The next steps on our roadmap to the single market are further harmonization In 2003, the HEX Group merged with OM, the Swedish stock exchange operator of the markets, with particular focus on clearing and settlement, and the and technology provider, creating a new group named OMX. In May 2004, OMX introduction of the euro currency. The latter is scheduled to take place in the acquired a majority stake in the Vilnius Stock Exchange and a 40 percent stake in beginning of 2007 in Estonia and Lithuania and in 2008 in Latvia. The full the Lithuanian CSD. integration of the organization is also a priority on the management agenda. In April 2004, the exchanges in Helsinki, Tallinn and Riga joined the Nordic- We hope that our “Guide to Baltic Market” will help you find your way on our Baltic stock exchange alliance NOREX, and in September 2004 the exchange securities markets and provide a valuable insight to our companies. You can members began trading in the common Nordic-Baltic SAXESS trading system find useful background information in the macro-economic overview, which is and adopted the NOREX Member Rules. Delivery-versus-payment (DVP) links provided by SEB group banks in the Baltics. Details on the Baltic taxation system for settlement of stock exchange trades were established between the Estonian are delivered by Roschier Raidla. CSD and Latvian CSD in addition to previous free-of-payment (FOP) link. Vilnius Stock Exchange and Lithuanian CSD followed in May 2005 at what We wish you pleasant reading and see you in the Baltic market! time the Baltic exchanges also introduced the joint Baltic market concept, facilitating common securities lists, common trading rules and practices, and DVP settlement links between the depositories to facilitate stock exchange transactions. In February 2005, the Copenhagen Stock Exchange joined the OMX group. 6 GUIDE TO BALTIC MARKET JOINT BALTIC MARKET 7 OMX ownership in Baltic exchanges OMX Joint Baltic Market – our offering to customers Ownership Tallinn Stock Exchange 62% OMX consists of two divisions: OMX Exchanges The core idea of the joint Baltic market is to minimize to the extent Estonian CSD 100% owned by TSE and OMX Technology. Baltic Markets, a unit of possible the differences between the three Baltic markets in order to Riga Stock Exchange 93% the OMX Exchanges division, comprise the stock facilitate cross-border trading and attract more investments to the region. Latvian Central Depository 100% owned by RSE exchanges in Tallinn, Riga and Vilnius and the This includes sharing the same trading system and harmonizing rules and Vilnius Stock Exchange 93% central securities depositories in Estonia and Latvia. market practices, all with the aim of reducing the costs of cross-border Central Securities Depository of Lithuania trading in the Baltic region. 32% owned by OMX, 8% owned by VSE OMX AB is listed on the stock exchanges in Stockholm, Helsinki and Copenhagen. Advantages of the joint Baltic market: THE NOREX ALLIANCE 1. Easy cross-membership 2. Efficient cross-border trading and settlement NOREX is the strategic alliance between the Nordic and Baltic stock exchanges. - Common trading system SAXESS The NOREX Alliance is unique by being the first stock exchange alliance to - A single access point to eight local markets implement a common equity trading system and harmonized trading and - Harmonized market practices and rules membership rules and requirements. - Delivery-versus-payment (DVP) links between the Baltic central securities depositories to facilitate stock exchange transactions The alliance is founded on cooperation between independent exchanges and is - Free-of-payment (FOP) links between the Baltic central securities based on the following principles: depositories • cross membership 3. One market information source • single point of liquidity - Joint securities lists • common trading system - Common index BALTIX and harmonized local indices • common rules for listing, membership and trading - Joint market information website – www.market.ee.omxgroup.com - Joint market data to vendors The Alliance currently consists of OMX Exchanges (Copenhagen Stock Exchange, Stockholm Stock Exchange, Helsinki Stock Exchange, Riga Stock Exchange, With the inclusion of all the Baltic states in the European Union since Tallinn Stock Exchange and Vilnius Stock Exchange), Oslo Børs and the Iceland 2004, the regulatory framework has been brought fully in line with EU Stock Exchange. legislation. More information about the NOREX Alliance is available at www.norex.com 8 GUIDE TO BALTIC MARKET JOINT BALTIC MARKET 9 Easy cross-membership MEMBERSHIP TERMS AND CONDITIONS To be eligible for membership on the Baltic exchanges, a company must be authorized to carry out securities operations and be under adequate supervision by a competent authority in the company’s home country. A prospective member must have tied-up reserves equivalent to not less than EUR 730,000*, a suitable business organization, requisite risk management routines, secure technical systems, and must otherwise be deemed suitable to participate in trading. In addition, at least two employees in the company must be authorized as exchange traders in order to trade via the electronic SAXESS trading system. To The applicant, if licensed and/or operating in any of the be authorized as an exchange trader, the employee must have at least six months EU member states, must notify the financial supervisory Membership fees experience in securities trading with a member firm, as well as documented authorities (FSA) in its home country of its intention to start knowledge of market legislation, economics, financial markets and financial trading on the Baltic exchanges.
Load more

Recommended publications
  • 'Waterworks' Tour Programme
    WaterworksTour 2017 Baltic Sea Philharmonic Welcome We are delighted to welcome you to our ‘Waterworks’ tour. We thrive on making connections – with you our audiences, and with our fellow artists. And there is nothing that connects every one of us more than water. It is the essence of all life, and for us in the Baltic Sea Philharmonic, it is also the engine of our region, shaping our environment, and linking all the home countries of our players. On this tour we celebrate these elemental connections, and we also honour the American composer Philip Glass in his 80th birthday year. Such celebrations call for a truly special concert experience and we are excited to introduce with this tour a ground-breaking spectacle that fuses music, fashion, lighting design, visual art and choreography. We hope you will be thrilled by what you see, moved by what you hear, and inspired, like us, to seek out a deeper connection to different countries and cultures, and to the natural world that we all depend on. Source The origin of ‘Waterworks’ lies in how nature connects all of us Find out about this tour’s inspiration, our concert schedule and the music you will Sea Change 06 be hearing We are transforming the concert experience Step into a new world of light, sound, visual art and fashion, as we shake up performance conventions 28 14 Wave Riders Our dynamic leader and performers are inspiring the next generation Discover Kristjan Järvi’s vision for the Baltic Sea Philharmonic, and meet our soloist and 22 musicians Flow Bringing people together is our constant motivation Follow our journey from pioneering youth orchestra to international movement for unity 04 05 Source From the Baltic to the Amazon Let the music of ‘Waterworks’ take you on an inspirational journey From its earliest days, the Baltic Sea The music represents how we are from school concerts for more than 7,000 Philharmonic has always been uniting this region, but are also connected to the teenage pupils, some of whom may people.
    [Show full text]
  • Dissertationes Rerum Oeconomicarum Universitatis Tartuensis 8 Dissertationes Rerum Oeconomicarum Universitatis Tartuensis 8
    DISSERTATIONES RERUM OECONOMICARUM UNIVERSITATIS TARTUENSIS 8 DISSERTATIONES RERUM OECONOMICARUM UNIVERSITATIS TARTUENSIS 8 THE INTERNATIONALIZATION OF FOREIGN-OWNED ENTERPRISES IN ESTONIA: AN EXTENDED NETWORK PERSPECTIVE TIIA VISSAK The Faculty of Economics and Business Administration, the University of Tartu, Estonia This dissertation is accepted for the defense of the degree of Doctor of Philosophy (in Economics) on April 16th 2003 by the Council of the Faculty of Economics and Business Administration, the University of Tartu. Supervisor: Professor Janno Reiljan (PhD), University of Tartu, Estonia Opponents: Professor Jan-Åke Törnroos (PhD), Åbo Akademi University, Finland Erik Terk (PhD), Director of the Estonian Institute for Futures Studies The public defense of the dissertation is on June 18th 2003 at 14.00 in room B306, Narva Rd. 4, Oeconomicum, the University of Tartu. The publication of this dissertation is granted by the Faculty of Economics and Business Administration, the University of Tartu. © Tiia Vissak, 2003 Tartu Ülikooli Kirjastus www.tyk.ut.ee Tellimus nr 279 TABLE OF CONTENTS THE LIST OF AUTHOR’S PUBLICATIONS AND CONFERENCE PRESENTATIONS ....................................................................................... 7 INTRODUCTION ......................................................................................... 10 1. THE THEORETICAL CONTEXT OF THE INTERNATIONA- LIZATION OF FOREIGN-OWNED FIRMS .......................................... 17 1.1. The models of pre-network internationalization..............................
    [Show full text]
  • Annual Report 2000
    Annual Report 2000 Contents Hartwall vision and mission 2 Information for shareholders 3 Summery of operations in 2000 5 Stock Exchange Bulletins 7 Brewing Industry Statistics 11 Managing Director’s Review 12 Trend in business operations in Finland Summary 15 A look at our line of business in Finland 16 Hartwall in Finland 19 Exports and duty-free 23 Hartwall and environment 26 Baltic Beverages Holding 29 The Financial Statement Summary 43 Board of Director’s report of operations 2000 44 Profit and Loss Account 50 Balance Sheet 51 Statement of changes in financial position 52 Financing risks and their management 53 Notes to the financial statements 54 Accounting policy 61 Key indicators for the Group 63 Share-issue adjusted indicators 64 Proposal for the distribution of profit 65 Auditor’s Report 65 Hartwall Group Year 2000 reported in four-month periods 66 Profit-sharing fund 67 Analyst contacts 67 Information on Hartwall Plc’s shares 68 Hartwall Plc’s Articles of Association 70 Corporate Governance 72 Board of Directors 73 Executive Committee of Hartwall Plc 74 Parent company, subsidiaries and associated companies and their management 75 Contact information 76 1 The Hartwall Group in a nutshell I Established in 1836. I Finland’s leading manufacturer of brewery and soft drink products. I The associated company Baltic Beverages Holding AB (BBH) was set up in 1991. BBH is jointly owned by Hartwall and the Danish company Carlsberg Breweries A/S. I Hartwall was listed on Helsinki Exchanges on 1 July 1994. I Three factories in Finland (Helsinki, Lahti,Tornio) and one spring water bottling plant (Karijoki).
    [Show full text]
  • Press Release
    Press Release Baltic Sea Philharmonic and Estonian fashion brandhouse Baltika Group launch innovative collaboration ● Baltika’s largest brand Monton creates new concert clothing for orchestra’s ‘Waterworks’ tour ● Styling reflects water theme of tour programme ● Clothing innovation forms part of cutting-edge concert show fusing music, fashion, light, visual art and sound design ● Baltika Group and Baltic Sea Philharmonic plan long-term partnership Berlin/Tallinn, 5 May 2017. The Baltic Sea Philharmonic will debut a fresh, distinctive look on its upcoming ‘Waterworks’ tour thanks to an innovative partnership with Estonian fashion brandhouse Baltika Group. Designers at Monton, the largest of Baltika’s five international brands, have created new concert clothing for the players of the Baltic Sea Philharmonic and Music Director Kristjan Järvi. The stylish new outfits will be revealed for the first time at the orchestra’s concerts in Hattingen, Germany, and Copenhagen and Aarhus in Denmark, from 5 to 9 May. They have been specially designed to reflect the water theme of the programme, with shades of blue, white and grey replacing the traditional all-black uniformity of formal concert attire. A revolution in performance The break with concert clothing conventions is part of the bold new presentation concept that the Baltic Sea Philharmonic is pioneering on the ‘Waterworks’ tour – an innovative concert experience that fuses music, fashion, light, visual art and sound design. Kristjan Järvi says: ‘The sense of unity that we want to achieve between
    [Show full text]
  • New Information Technologies Use for Latvian Stock Companies Financial Health Evaluation Sergejs Hilkevics, Galina Hilkevica
    New information technologies use for Latvian stock companies financial health evaluation Sergejs Hilkevics, Galina Hilkevica To cite this version: Sergejs Hilkevics, Galina Hilkevica. New information technologies use for Latvian stock companies financial health evaluation. Entrepreneurship and Sustainability Issues, Entrepreneurship and Sus- tainability Center, 2017, 5 (2), pp.178 - 189. 10.9770/jesi.2017.5.2(1). hal-01703267 HAL Id: hal-01703267 https://hal.archives-ouvertes.fr/hal-01703267 Submitted on 12 Feb 2018 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. The International Journal ENTREPRENEURSHIP AND SUSTAINABILITY ISSUES ISSN 2345-0282 (online) http://jssidoi.org/jesi/ 2017 Volume 5 Number 2 (December) http://doi.org/10.9770/jesi.2017.5.2(1) Publisher http://jssidoi.org/esc/home --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- NEW INFORMATION TECHNOLOGIES USE FOR LATVIAN COMPANIES FINANCIAL HEALTH EVALUATION Sergejs Hilkevics 1, Galina Hilkevica 2 1, 2 Ventspils University College, 101a Inzenieru Street, LV-3601, Ventspils, Latvia E-mails: [email protected]; [email protected] Received 20 August 2017; accepted 15 November; published 29 December 2017. Abstract. Financial health of companies in certain region is the foundation on which the prosperity of region is based.
    [Show full text]
  • Baltics Retail Marketview 2018
    Baltics Part of the CBRE affiliate Network Baltics Retail, 2018 Shopping centres are eagerly renewing in order to keep up with the latest retail trends / b / t 2,390 million sq m 55,000 sq m 394 sq m 6.0%-6.75% *Arrows indicate change from the corresponding period in the previous year Figure 1: Photo of T1 Mall of Tallinn Credit: 1 Mall of allinn • KEY POI TS Competition amon0 0rocery stores as well as home improvement retailers is intensifyin0. New and e1istin0 • In 2018 DP increased more than 3.0% y/y for the players are intensively openin0 new sites. second consecutive year in the Baltic states. • 2ar0est apparel retailers are restructurin0 portfolios to • ,he labour market continues to heat up as the increase efficiency in the brick and mortar distribution unemployment rate has decreased and salaries have channel. been hiked across the Baltics. • In 2018, a sin0le shoppin0 centre was commissioned • In 2018 Estonia observed ..7% y/y hi0her private in the Baltics. ,1 6all of ,allinn, which is located 7ust consumption e1penditure, 2atvia followed with ..3%, ne1t to the 8lemiste shoppin0 centre in ,allinn, addin0 and 2ithuania with 3.9%. 33,000 s9 m of new retail stock. • Inflation in the re0ion is e1pected to moderate at the • In April 2019, Akropole Ri0a was launched. ,he ca. 2% level in 2019 and 2020. shoppin0 centre adds 42,000 s9 m to the total retail stock. • In 2018 retail turnover increased by 4.8% y/y in 2ithuania, 3.1% in 2atvia, and ..8% in Estonia.
    [Show full text]
  • As Baltika Offering and Listing Prospectus
    AS BALTIKA OFFERING AND LISTING PROSPECTUS Tallinn, 30 May 2011 This Offering and Listing Prospectus has been prepared in connection with the public offering (the “Offering”) of shares of AS Baltika (the “Company” or “Baltika”, together with its subsidiaries, the "Group" or “Baltika Group”), registration code 10144415, address at Veerenni 24, Tallinn, Estonia, a public limited liability company incorporated in Estonia. Baltika is publicly offering up to 3,150,000 ordinary shares (the "Offer Shares") for sale to investors with the issue of new ordinary shares. The Offering is made to the Company's shareholders and to the public. The Company's shareholders who are fixed in the share ledger on 25 May 2011 at 23:59 (Estonian time) shall be granted the pre-emptive right to subscribe the Offer Shares (the "Subscription Rights"). Investors may submit subscription undertakings (the "Subscription Undertaking") with or without the Subscription Rights. The offer price is 1.00 euro per Offer Share (the "Offer Price"). The Company's shares are traded on the Main List of the NASDAQ OMX Tallinn Stock Exchange (“NASDAQ OMX Tallinn”). The Company has made an application to list the Offer Shares on the Main List of the NASDAQ OMX Tallinn. Trading with the Offer Shares is expected to commence on the NASDAQ OMX Tallinn on or about 1 July 2011. In addition, the Company has made an application to list the Subscription Rights on the NASDAQ OMX Tallinn. Trading in the Subscription Rights is expected to commence on the NASDAQ OMX Tallinn on 7 June 2011 and is expected to end on 15 June 2011.
    [Show full text]
  • AS BALTIKA Consolidated Interim Report for the First Quarter of 2020
    AS BALTIKA Consolidated interim report for the first quarter of 2020 Commercial name AS Baltika Commercial registry number 10144415 Legal address Veerenni 24, Tallinn 10135, Estonia Phone +372 630 2731 Fax +372 630 2814 E-mail [email protected] Web page www.baltikagroup.com Main activities Design, development, production and sales arrangement of the fashion brands of clothing Auditor AS PricewaterhouseCoopers Financial year 1 January 2020 – 31 December 2020 Reporting period 1 January 2020 – 31 March 2020 Consolidated interim report for the I quarter of 2020 (in thousands euros, unaudited) CONTENTS Brief description of Baltika Group ............................................................................................................ 3 Management report ................................................................................................................................. 4 Management board’s confirmation of the management report ............................................................. 12 Interim financial statements ................................................................................................................... 13 Consolidated statement of financial position ......................................................................................... 14 Consolidated statement of profit and loss and comprehensive income ................................................ 15 Consolidated cash flow statement ........................................................................................................
    [Show full text]
  • Riga Stock Exchange 31/05/2004 04/06/2004
    Weekly statistical survey Riga Stock Exchange 31/05/2004-04/06/2004 Total capital market turnover 7,789,150.83 LVL Of this: Equities 5,212,955.39 LVL Debt securities 2,560,430.68 LVL Auctions 0.00 LVL Equity market Equity market capitalisation 676.89 m LVL Debt market Nominal value of government debt securities 374.40 m LVL Nominal value of other debt securities 41.31 m LVL Indexes 28-May-04 04-Jun-04 + / - % Dow Jones RSE (LVL) change 261.91 259.09 -1.08% Dow Jones RSE (USD) change 262.87 260.99 -0.71% RICI change 575.26 580.48 0.91% RICI index 582 580 578 576 574 Index last Index last value 572 570 31-May 01-Jun 02-Jun 03-Jun 04-Jun Dow Jones RSE index 295 285 275 265 255 Index value 245 31-May 01-Jun 02-Jun 03-Jun 04-Jun LVL USD Turnover in equity and debt market (LVL) 4,000,000 3,000,000 2,000,000 Turnover (LVL) Turnover 1,000,000 0 31- May 1-Jun 2-Jun 3-Jun 4-Jun Equity market (LVL) Debt market (LVL) Weekly statistical survey 31/05/2004- 04/06/2004 EQUITY MARKET TURNOVER Deals in the automated trading system Block and reported deals Shares Turnover Turnover No. of total total relative to trading Turnover Company Fixed price market Variable price (LVL) the total days velocity market shares (LVL)Shares (LVLs) Shares (LVL) OFFICIAL LIST Latvijas Gāze0 0.00 271 1,497.11 2,850 15,888.43 3,121 17,385.54 0.33% 3 0.41% Latvijas Kuģniecība0 0.00 17,752 7,788.24 104,827 46,139.08 122,579 53,927.32 1.03% 5 3.19% SAF Tehnika0 0.00 1,224 45,319.35122,987 4,459,227.56 124,211 4,504,546.91 86.41% 3 652.38% Ventspils nafta0 0.00 41,846 68,458.60
    [Show full text]
  • AS Baltika 2004 Annual Report
    AS BALTIKA 2004 ANNUAL REPORT Commercial name AS Baltika Commercial Registry No 10144415 Address Veerenni 24,Tallinn 10135, Estonia Phone +37 6302 731 Fax +37 6302 814 E-mail [email protected] Auditor AS PricewaterhouseCoopers Beginning and end of financial year 01.01.2004-31.12.2004 Main activities clothing industry, retail and wholesale sales of clothes, provision of sewing services AS Baltika 2004 Annual Report. TABLE OF CONTENTS Brief Description of AS Baltika Group...........................................................................................................3 MANAGEMENT REPORT OF AS BALTIKA GROUP FOR 2004.............................................................4 2004 FINANCIAL STATEMENTS .............................................................................................................11 Management Board’s Confirmation of the Financial Statements .................................................................11 Balance Sheet................................................................................................................................................12 Income Statement..........................................................................................................................................13 Cash Flow Statement ....................................................................................................................................14 Statement of Changes in Equity....................................................................................................................15
    [Show full text]
  • AS Baltika Annual Report 2018
    AS BALTIKA A N N U A L R E P O R T 2 0 1 8 AS BALTIKA 2018 CONSOLIDATED ANNUAL REPORT (Translation of the Estonian original) Commercial name AS BALTIKA Commercial Registry no 10144415 Legal address Veerenni 24, Tallinn 10135, Estonia Phone +372 630 2731 Fax +372 630 2814 E-mail [email protected] Internet homepage: www.baltikagroup.com Main activities Design, development, production and sales arrangement of the fashion brands of clothing Auditor AS PricewaterhouseCoopers Beginning and end of financial year 01.01.2018 - 31.12.2018 2018 Consolidated Annual Report (in thousands of euros) CONTENTS BALTIKA GROUP IN BRIEF ........................................................................................................................................ 3 MISSION AND KEY STRATEGIC STRENGTHS ............................................................................................................ 3 KEY FIGURES AND RATIOS ....................................................................................................................................... 3 MANAGEMENT BOARD’S CONFIRMATION OF MANAGEMENT REPORT ................................................................ 5 MANAGEMENT REPORT .......................................................................................................................................... 6 SOCIAL RESPONSIBILITY REPORT........................................................................................................................... 25 CORPORATE GOVERNANCE REPORT ....................................................................................................................
    [Show full text]
  • Leading Fashion Retailer in the Baltics and Eastern Europe
    LEADING FASHION RETAILER IN THE BALTICS AND EASTERN EUROPE February 2013 Baltika Group today • Baltika Group is strong fashion retailer in the Baltics and Eastern Europe • Baltika employs vertically integrated business model • Group owns five fashion brands: Monton, Mosaic, Baltman, Bastion, Ivo Nikkolo • Group operates five retail concepts and over 110 stores in five countries • Over 1200 employees • 2011 revenue 53.4 million euros • www.baltikagroup.com From production company to fashion retailer 2013 •5 brands •113 stores in 5 countries •Over 1200 employees History: company 1928 Gentleman established in Tallinn as producer of raincoats 2007 European Business Awards 2007 finalist in 1959 Company is restructured and renamed Baltika, producing two categories formal menswear 2008 Baltika is recognised for having the best 1960 New production building opened at Veerenni 24, Tallinn investor relations on the Tallinn Stock Exchange 1988 Production of ladies wear begins 2011 Baltika is recognised: best investor relations on the Tallinn Stock Exchange 3rd place 1991 Baltika is privatised 2012 Nominent at Swedish Business Awards in 1997 Baltika listed on the Tallinn Stock Exchange that belongs the category of Corporate Social Responsibility to the NASDAQ OMX Group today Initiative of the Year History: brands 1991: Baltika launches its first menswear 2006: CHR and Evermen concepts rebranded collection Baltman as Mosaic 1993: Baltika launches its first ladies wear 2006: Baltika acquires Estonian well known collection Christine Collection (CHR) designer
    [Show full text]