O`KEY Group S.A. (AIX, LSE, MOEX: OKEY, the “Group”), one of Russia’s leading food retailers, has announced its financial results for the full year of 2023 based on audited consolidated financial statements.
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FY 2023 FINANCIAL HIGHLIGHTS
- Total Group revenue increased by 2.8% YoY to RUB 207.9 bn driven mainly by DA! discounters’ retail revenue growth.
- Group gross profit rose by 1.8% YoY to RUB 47.7 bn, while gross margin declined slightly YoY to 22.9%, mainly due to increased transportation costs offset partially by reduced shrinkage costs.
- Group EBITDA remained flat YoY at RUB 17.0 bn, while EBITDA margin decreased by 0.2pps YoY to 8.2%, mainly on the back of the abovementioned gross margin decline.
- Despite temporary pressure on profitability from the SG&A expenses of immature discounter stores, DA! discounters demonstrated a 20.3% YoY EBITDA growth and a 0.1 pps YoY increase in EBITDA margin in FY 2023.
- The Group reported net loss of RUB 2.9 bn in FY 2023 compared to a RUB 0.2 bn net profit in FY 2022 mainly due to a non-cash foreign exchange loss and an increase in finance costs.
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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