Core Points - MAXIMA GRUPĖ exercised its early redemption right and redeemed all bonds with a nominal value of EUR 240 million [1][2] - The bonds had a fixed annual interest rate of 6.25% and an actual annual yield of 8.40% upon early redemption [1] - The decision to redeem the bonds early is part of the restructuring process of the "Vilniaus prekyba" group of companies [2] Company Overview - MAXIMA GRUPĖ manages retail chains including "Maxima" in the Baltic countries, "Stokrotka" in Poland, "T Market" in Bulgaria, and the online food store "Barbora" [3] - MAXIMA GRUPĖ is part of the "Vilniaus prekyba" group, which controls investments in retail, pharmacy chains, and real estate development across the Baltic countries, Sweden, Poland, and Bulgaria [4]

On October 20, 2025, UAB “Vilniaus prekyba“, the sole shareholder of MAXIMA GRUPĖ, UAB (hereinafter - MAXIMA GRUPĖ), elected the MAXIMA GRUPĖ audit committee for a new four-year term. The term of office of MAXIMA GRUPĖ’s Audit Committee, comprising Chairwoman Irena Petruškevičienė, Eglė Čiužaitė, and Matas Kasperavičius was due to expire in March 2026, at the end of their four-year term, before the completion of the audit of MAXIMA GRUPĖ‘s 2025 financial statements. In order to ensure the continuity of the ...

Core Viewpoint - S&P Global Ratings has maintained MAXIMA GRUPĖ's BB+ credit rating with a stable outlook despite planned operational separations in Poland and Bulgaria, which may impact the group's size and growth prospects [1][2] Group 1: Credit Rating and Financial Impact - The planned separation of operations in Poland and Bulgaria will reduce MAXIMA GRUPĖ's geographical diversification and growth prospects, but it will also allow for the transfer of lease and financial obligations, potentially lowering financial leverage from a previously forecasted 2.4x in 2025 [1] - The transaction is not expected to have a direct impact on MAXIMA GRUPĖ's individual credit profile of 'bb+' or its issuer credit rating of 'BB+' [2] - MAXIMA GRUPĖ has decided to redeem €240 million worth of bonds maturing in July 2027 ahead of schedule prior to the transfer of the spun-off companies [2] Group 2: Company Overview - MAXIMA GRUPĖ, UAB operates retail chains including "Maxima" in the Baltic countries, "Stokrotka" in Poland, "T Market" in Bulgaria, and the online food store "Barbora" in the Baltic countries [3] - MAXIMA GRUPĖ is part of the "Vilniaus prekyba" group, which controls investments in retail, pharmacy chains, and real estate development across the Baltic countries, Sweden, Poland, and Bulgaria [4]

Management Rotation at Three MAXIMA GRUPĖ Companies MAXIMA GRUPĖ announces that, as of 13 October 2025, Jolanta Bivainytė is appointed as CEO of MAXIMA GRUPĖ, Kristupas Buzys – as CEO of MAXIMA LT, UAB and Tomas Bazys – as CEO of FRANMAX, UAB. Jolanta Bivainytė will take over as Chairwoman of the Board and CEO of MAXIMA GRUPĖ on October 13, replacing Manfredas Dargužis. M. Dargužis is appointed as the Head of Expansion of “Vilniaus prekyba“ and will continue to serve as a member of the Board of “Vilniaus pr ...

MAXIMA GRUPĖ Borrows EUR 260 Million from SEB and ING Banks to Redeem Bonds MAXIMA GRUPĖ, UAB (hereinafter – MAXIMA GRUPĖ) announces that it has signed a short-term 2-year financing agreement for a total amount of EUR 260 million with Skandinaviska Enskilda Banken AB, AB SEB bankas (together EUR 130 million) and ING Belgium SA/NV (EUR 130 million). The funds received from the banks will be used for the early redemption of the MAXIMA GRUPĖ issued long-term bonds and for its related expenses. The credit agree ...

Core Insights - The consolidated revenue of MAXIMA GRUPĖ, UAB in the first half of 2025 reached €3.07 billion, reflecting a 3.5% growth year-on-year, with like-for-like retail revenue increasing by 2.3% [1] - EBITDA improved by €17 million to €226 million, with the EBITDA margin rising by 0.3 percentage points to 7.3%, driven by better cost management in Estonia and Poland [2] - Net debt remained stable at €1,176.1 million, while the financial leverage ratio decreased to 2.5x [4] Revenue Performance - Revenue growth was hindered by market slowdowns in Latvia and Estonia, ongoing store renovations, and lower growth in Poland and Bulgaria due to network expansion challenges and competition [1] - Lithuania was the strongest contributor to revenue growth, with a 4.5% increase to €1.1 billion and a 5.2% rise in like-for-like revenue [1] - Retail revenue in Latvia grew by 2.4%, while Estonia experienced a 0.2% decline [1] Investment and Expansion - Investments in fixed assets totaled €67 million, down €30 million from the previous year, primarily due to the completion of a logistics center and store acquisitions [3] - The company opened 23 new stores in the first half of 2025, with 14 in Poland, 7 in Bulgaria, and 2 in Lithuania [3] E-commerce Performance - Gross sales in Barbora's e-stores in the Baltics increased by nearly 4% year-on-year, reaching €77 million in the first half of 2025 [1]

Group 1 - S&P Global Ratings conducted its annual review of MAXIMA GRUPĖ on July 31, 2025, and the credit rating remained unchanged, indicating stable financial health despite competitive pressures [1] - The report noted that MAXIMA GRUPĖ experienced growing revenues, attributed to strong private label positioning, expansion of managed retail chains, and good diversification of store formats [1] - The financial leverage of MAXIMA GRUPĖ was reported at 2.4x, an increase from 2.2x in 2023, suggesting a slight rise in debt relative to equity [1] Group 2 - MAXIMA GRUPĖ's bond issuance also retained a BB+ rating, which has been consistent since it was first assigned in 2018 [2] - The company successfully issued €300 million in bonds in 2018, which were redeemed in 2023, and issued a second bond offering of €240 million in 2022 with a 5-year term [2] Group 3 - MAXIMA GRUPĖ, UAB operates several retail chains including "Maxima" in the Baltic countries, "Stokrotka" in Poland, "T Market" in Bulgaria, and the online food store "Barbora" in the Baltic countries [3] - MAXIMA GRUPĖ is part of the "Vilniaus prekyba" group, which controls investments in retail, pharmacy chains, and real estate development across the Baltic countries, Sweden, Poland, and Bulgaria [4]