O`KEY Group S.A. (AIX, 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 six months (6M) of 2024.
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Q2 2024 operating highlights
- Group net retail revenue rose by 5.2% YoY to RUB 52.3 bn, driven mainly by LFL revenue growth of O’KEY hypermarkets and DA! discounters, as well as by support from DA! chain expansion.
- O`KEY hypermarkets’ net retail revenue grew by 1.0% YoY to RUB 33.9 bn on the back of a 1.5% increase in LFL revenue.
- DA! discounters' net retail revenue went up 13.8% YoY to RUB 18.4 bn, led by a 6.3% increase in LFL revenue and the chain's organic growth.
- DA! discounters’ share in the Group’s net retail revenue grew by 2.7 pp YoY and reached 35.2%.
6M 2024 operating highlights
- Group net retail revenue grew by 6.2% YoY to RUB 104.6 bn.
- O`KEY hypermarkets’ net retail revenue was up 2.0% YoY to RUB 69.4 bn, thanks to a 2.6% increase in LFL revenue.
- DA! discounters’ net retail revenue rose by 15.7% YoY to RUB 35.2 bn, driven by a 6.9% LFL revenue growth and further boosted by the chain’s expansion.
Key events in 6M 2024 and after the reporting date
- In June, Expert RA affirmed a credit rating of ‘ruA-’ for O`KEY LLC, the main operating subsidiary of O`KEY Group S.A. The outlook of the rating remains Stable. The full text of the announcements is available at https://www.okeygroup.lu/press-center/press-releases/2024/1904/
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On 18 June 2024, the Group cancelled the listing of its GDRs on LSE. On 13 June, in preparation for the delisting from LSE, the Group transferred GDRs to Level II Quotation List on the Moscow Exchange. O'KEY Group GDRs are also listed on AIX. The Group plans to keep its listing on both MOEX and AIX.
The full text of the respective announcements is available at https://www.okeygroup.lu/press-center/press-releases/2024/1902/ and at https://www.okeygroup.lu/press-center/press-releases/2024/1906/ - In July, the Group announced that it had initiated a transition to a new depositary bank, replacing The Bank of NY Mellon with RCS Trust and Corporate Services Ltd., appointed as a successor for the Group’s GDR program. The full text of the announcements is available at https://www.okeygroup.lu/press-center/press-releases/2024/1908/
- In July, NCR rating agency affirmed a credit rating of ‘A.ru’ with Stable outlook for O`KEY LLC, the main operating subsidiary of O`KEY Group S.A. The full text of the announcements is available at https://www.okeygroup.lu/press-center/press-releases/2024/1911/
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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