AS Grenardi Group unaudited quarterly report for Q1 2024
AS Grenardi Group has published its unaudited quarterly report.
Business results
In 3M 2024 the Group’s revenue reached € 5.0M, which is by 41% more than in 3M 2023. In 3M the Group’s gross profit was € 2.9M and gross margin 58%. The Group’s EBITDA and EBITDA margin for 3M 2024 was € 0.4M and 9% respectively.
In 2024 the Group has successfully raised EUR 12 million in a public bond offering, and has been strengthening its market position, promoting its brand awareness, developing its online shops and launching new ESG initiatives.
In Q1 2024 Grenardi Group opened 2 new stores in Lithuania. The new stores are located in Kaunas MEGA shopping mall and in Gedimino proscpect in Vilnius center.
About Grenardi Group
AS Grenardi Group is the parent company of GIVEN and GRENARDI in the Baltics. As of March 31, 2024, AS Grenardi Group operates a total of 84 stores – of which 77 GIVEN chain stores and 7 GRENARDI chain stores. Additionally, the Group has five online stores: www.given.lv, www.given.ee, www.given.lt, www.grenardi.lv and www.grenardi.ee.
GIVEN is a jewellery brand that stands for joy, beauty, love, creativity, and sustainability by expressing this in its jewellery – through design, unique collections of brands, and carefully considered details, making the valuable accessible.
GRENARDI has been the leading luxury jewellery retail chain in Latvia and Estonia for more than 20 years. GRENARDI offers an extensive assortment of world-renowned luxury jewellery brands and sophisticated private collections.
AS Grenardi Group unaudited financial report for Q1 2024 is attached to the announcement and is also published on NASDAQ Riga and AS Grenardi Group corporate web page https://grenardi.group/en/news/
Dāvis Cēderštrēms
Deputy CFO
info@grenardi.group
Tel: +371 67 796 000
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