TKM1T H1 2010 Sales Update and Comment, Target Price 07/27/10

Contents:
- SHARE PRICE BECAME UNDERESTIMATED;
- H1 2010 UPDATE INDICATES END OF DECLINE;
- THE WORST IS OVER;
- FOOTWEAR SEGMENT IS ON A POSITIVE RUN;
- BUSINESS RISK IS EXPECTED TO REMAIN HIGH IN MID-TERM;
- BBA INVESTMENT RATING
10 pages

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Tallinna Kaubamaja
AS Tallinna Kaubamaja, together with its subsidiaries, primarily engages in the retail and wholesale trade through its retail stores and super markets in Estonia, Latvia, and Lithuania. It operates through five segments: Supermarkets, Department Stores, Vehicle Trade, Footwear, and Real Estate. The Supermarkets segment involves in the sale of food products and basic commodities. The Department Stores segment focuses on beauty products and fashion items. This segment operates various beauty, women’s fashion, women’s shoe, men’s fashion, youth fashion, kids wear and toys, home, sports, technology, music shop, and gourmet department stores. The companys Vehicle Trade segment involves in the sale of vehicles and spare parts. Its Footwear segment focuses on the retail sale of men’s and women’s footwear. The companys Real Estate segment engages in the real estate management, maintenance, and lease of commercial space. The company was founded in 1960 and is based in Tallinn, Estonia. AS Tallinna Kaubamaja operates as a subsidiary of NG lnvesteeringud AS.

Year Q1 Q2 Q3 Q4 Annual
1996          
1997          
1998          
1999         EEK
2000  
 
 
  EEK
2001  
 
 
  UNI
2002  
 
 
  UNI
2003  
 
UNI
  UNI
2004 UNI
UNI
UNI
UNI
EUR
2005 UNI
UNI
UNI
UNI
UNI
2006 UNI
UNI
UNI
UNI
UNI
2007 UNI
UNI
UNI
UNI
UNI
2008 UNI
UNI
UNI
UNI
UNI
2009 UNI
UNI
     

Explanations:

1 - consolidated report
2 - prepared according IAS
3 - prepared according LAS


Latest Research Reports
Latest News
BBA: Tallinna Kaubamaja’s (TKM1T) H1 2010 Update Indicates End Of Decline
The non-audited sales revenue of Tallinna Kaubamaja Group for the first half-year of 2010 was 3.0 billion kroons
Tallinna Kaubamaja`s (TKM1T) Revenues Continued To Decrease In Q1 2010
In the first quarter of 2010, the consolidated non-audited sales revenue of Tallinna Kaubamaja Group amounted to 1.4 billion EEK.
Tallinna Kaubamaja`s (TKM1T) Revenue In Q4 2009 Declined By 10% Y-O-Y
In 2009, the consolidated non-audited sales revenue of Tallinna Kaubamaja Group amounted to 6.4 billion kroons (408.3 million euros).
Tallinna Kaubamaja Reported Negative Q4 2009 Sales Update
The consolidated unaudited sales revenue of Tallinna Kaubamaja Group totaled 408.5 million euros, 104.6 million euros of it was earned in the fourth quarter.
BBA: THE DROP OF TALLINNA KAUBAMAJA`S Q3 2009 REVENUE IS JUST THE BEGINNING
In the first nine months of 2009, the consolidated non-audited sales revenue of Tallinna Kaubamaja Group totaled 4.8 billion EEK
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