O`KEY Group S.A. (AIX, LSE, MOEX: OKEY, the “Group” or the “Company”), one of Russia’s leading food retailers, has announced its unaudited operating results for the second quarter (Q2) and the first six months (H1) of 2023.
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Q2 2023 OPERATING HIGHLIGHTS
- Group net retail revenue remained almost flat showing a 0.4% YoY increase to RUB 49.7 bn in Q2 2023.
- O`KEY hypermarkets’ net retail revenue decreased by 5.3% YoY to RUB 33.5 bn in Q2 2023, mainly due to a 4.8% YoY LFL revenue decrease. The decline was primarily attributable to a high comparable revenue base in Q2 2022, as food inflation peaked at 19.5% in Q2 2022 compared to 0.3% deflation in Q2 2023. In addition, in Q2 2022, we saw a temporary shift in the volume and structure of consumption, with further normalisation in H1 2023.
- O`KEY’s total online sales grew by 34.4% YoY to RUB 1.9 bn and accounted for 5.7% of the hypermarkets’ net retail revenue in Q2 2023.
- DA! discounters’ net retail revenue grew by 14.4% YoY to RUB 16.2 bn in Q2 2023, led by store openings, and offset partially by a high comparable base (DA! showed a record high net retail revenue growth of 68.5% in Q2 2022).
- DA! discounters’ share in the Group’s revenue rose by 4.0 pps YoY and reached 32.6% in Q2 2023. The Company expects the discounter segment to lead the Group’s growth in 2023 and in the mid-term.
H1 2023 OPERATING HIGHLIGHTS
- Group net retail revenue increased by 1.7% YoY to RUB 98.5 bn.
- O`KEY hypermarkets’ net retail revenue declined by 4.6% YoY to RUB 68.1 bn.
- O`KEY total online sales grew by 26.3% YoY to RUB 3.8 bn and reached 5.6% of O`KEY's net retail revenue.
- DA! discounters’ net retail revenue rose by 19.2% YoY to RUB 30.4 bn, driven by a 3.1% LFL net retail revenue growth and the chain’s expansion.
- In H1 2023, the Group opened 11 DA! stores. As of 30 June 2023, the Group operated 205 DA! discounters
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For further information please contact:
Natalya Belyavskaya
Head of Investor Relations
+7 495 663 6677 ext. 266
natalya.belyavskaya@okmarket.ru
www.okeygroup.lu