AS Grenardi Group has published its unaudited quarterly report.

Business results

In 6M 2024 the Group’s revenue reached € 10.2M, which is by 42% more than in 6M 2023. In 6M the Group’s gross profit was € 5.9M and gross margin 58%. The Group’s EBITDA and EBITDA margin for 6M 2024 was € 1.1M and 11% respectively.

In 2024 the Group has successfully raised € 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 Q2 2024 Grenardi Group opened 1 new GIVEN store in Estonia, Rocca Al Mare shopping mall in Tallin, and closed 4 GIVEN stores – 1 store in Latvia, 1 store in Lithuania and 2 stores in Estonia.

About Grenardi Group

AS Grenardi Group is the parent company of GIVEN and GRENARDI in the Baltics. As of June 30, 2024, AS Grenardi Group operates a total of 81 stores – of which 74 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 Q2 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