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Norway's Reitan Convenience Sees Turnover Up In Full-Year 2018

Published on Apr 9 2019 8:20 AM in Retail tagged: Featured Post / Norway / Reitangruppen / Reitan Convenience

Norway's Reitan Convenience Sees Turnover Up In Full-Year 2018

Reitan Convenience, the convenience arm of Norway’s Reitangruppen, posted turnover of NOK 16.1 billon (€1.67 billion) in full-year 2018 – up from NOK 15.9 billion (€1.66 billion) the previous year.

The group, which operates the Narvesen, Pressbyrån, 7-Eleven and R-kiosk banners (among others) in Norway, Denmark, Sweden, and a number of CEE markets, posted EBITDA of NOK 783 million (€81.72 million) and an operating profit of NOK 569 million (€59.38 million) for the period.

“We are well positioned in all seven markets in which we operate, and are looking to drive continued growth,” commented the CEO of Reitan Convenience, Johannes Sangnes.

New Acquisition

Last year, the business bought the coffee chain Caffeine (pictured), which operates 60 outlets in Lithuania, Estonia and Latvia – a deal that was completed in February of this year.

This year, the business plans to roll out a new forecourt chain, under the banner YX 7-Eleven.

“YX will be the company’s fuel partner at its forecourt sites across Norway,” said Sangnes.“We look forward to this cooperation, and to expanding the station network for our customers.”

© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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