O`KEY Group S.A. (AIX, LSE, MOEX: OKEY, the “Group” or the “Company”), one of Russia’s leading food retailers, today announces its unaudited operating results for the third quarter (Q3) and the first nine months (9M) of 2023.
Q3 2023 OPERATING HIGHLIGHTS
- Group net retail revenue increased by 2.2% YoY to RUB 48.8 bn in Q3 2023, driven by discounter and online revenue growth.
- O`KEY hypermarkets’ net retail revenue decreased by 4.1% YoY to RUB 33.0 bn in Q3 2023 on the back of a 2.9% YoY selling space and a 1.8% LFL revenue decrease.
- O`KEY’s total online sales grew by 16.9% YoY to RUB 1.5 bn and accounted for 4.6% of the hypermarkets’ net retail revenue in Q3 2023.
- DA! discounters’ net retail revenue increased by 18.3% YoY to RUB 15.9 bn in Q3 2023, led mainly by store openings.
- DA! discounters’ share in the Group’s revenue rose by 4.4 pps YoY and reached 32.5% in Q3 2023.
9M 2023 OPERATING HIGHLIGHTS
- Group net retail revenue rose by 1.9% YoY to RUB 147.3 bn.
- O`KEY hypermarkets’ net retail revenue declined by 4.4% YoY to RUB 101.0 bn.
- O`KEY’s total online sales grew by 23.2% YoY to RUB 5.3 bn and reached 5.3% of O`KEY's net retail revenue.
- DA! discounters’ net retail revenue rose by 18.9% YoY to RUB 46.3 bn, driven by a 2.0% LFL net retail revenue increase and the chain’s selling space growth.
- In 9M 2023, the Group opened 25 DA! stores. As of 30 September 2023, the Group operated 219 DA! discounters and 77 O’KEY hypermarkets with a total selling space of 659 thousand sq m.