AS Grenardi Group has published its unaudited condensed consolidated financial statements for the period ended on 31 March 2025.
Business results
In 3M 2025 the Group’s revenue reached € 6.8M, which is by 36% more than in 3M 2024. In 3M the Group’s gross profit was € 3.7M and gross margin 55%. The Group’s EBITDA and EBITDA margin for 3M 2025 was € 1.2M and 18% respectively.
On March 31, 2025 AS Grenardi Group executed a call option with respect to the bond issue with ISIN code LV0000860104, with the record date on 28 March 2025. According to the Terms of the Issue, bondholders (ISIN LV0000860104) received 102% of the nominal value of their bonds together with accrued and unpaid interest.
During Q1 2025 Grenardi Group closed four stores – three GIVEN stores in Lithuania and one Grenardi store in Estonia. Additionally, the Group converted a store in the Molas shopping centre, Klaipėda, Lithuania, into an island-format store.
About Grenardi Group
AS Grenardi Group is the parent company of GIVEN and GRENARDI in the Baltics. As of March 31, 2025, AS Grenardi Group operates a total of 88 stores – of which 72 GIVEN chain stores, 6 GRENARDI chain stores and 10 GOLDLIGHT chain stores. Additionally, the Group has six online stores: www.given.lv, www.given.ee, www.given.lt, www.grenardi.lv, www.grenardi.ee and www.goldlight.lv.
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.
GOLDLIGHT is a well-known jewellery retailer in Riga, Latvia offering its customers a wide assortment of gold, silver and diamond jewellery, as well as brands such as Nomination, Ti Sento, Mirco Visconti and others.
AS Grenardi Group unaudited condensed consolidated financial statements for the period ended in 31 March 2025 is attached to the announcement and is also published on NASDAQ Riga and AS Grenardi Group corporate web page https://grenardi.group/en/news/