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At the same time, despite the impact of the Covid-19 pandemic, the company has invested more than 1.3 million euros in the development of the sales network and infrastructure last year.
“The past year has been full of challenges for Narvesen, both in terms of limiting the maximum number of visitors to retail premises and banning the provision of catering services at retail outlets, and in terms of a significant reduction in inbound and outbound tourist traffic. therefore, compared to 2019, when we operated under normal conditions, there is also a decrease in turnover and profit, “said Dace Dovidena, Chairman of the Board of Narvesen Baltija.
The company stated that in 2020, five new outlets and a new sales channel were opened – “Narvesen” and “Caffeine” products can be purchased online using “BoltFood” delivery services.
“We are constantly investing in business development, and last year the investments were directed not only to network expansion and development of information technology (IT) infrastructure, but also to the implementation of a new store concept, refreshing the facades and interiors of the store,” said Doviden.
The company also noted that in January 2020, one of the largest transactions of Narvesen in recent years was registered, when Narvesen’s parent company Reitan Convenience acquired SIA Coffee Inn owned by Lithuanian Keturi Rooms under the Caffeine brand. With the reorganization, Narvesen Baltija took over all the assets and liabilities of SIA Coffee Inn, but retained the Caffeine brand.
“We are optimistic about the future, expecting a resumption of customer flow, planning to introduce new offers to our customers and open new outlets and concepts. To reduce Covid-19’s impact on the company, we have adapted our operations to current outlets. adjusting working hours and reviewing administrative processes and costs, “said Doviden.
“Narvesen” has 216 sales outlets throughout Latvia.
In 2019, the turnover of Narvesen Baltija was 68.058 million euros, but the company’s profit was 813,711 euros.
The company “Narvesen Baltija” was registered in 1997 and its share capital is 10,592,672 euros. The company is owned by the Norwegian company Reitan, which is represented in the Nordic and Baltic countries by brands such as Narvesen, 7-eleven, Caffeine, R-kiosk and Pressbyrån, UnoX and REMA 1000. .
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