O`KEY Group S.A. (AIX, MOEX: OKEY, the “Group”), one of Russia’s leading food retailers, has announced its financial results for the first half (H1) of 2024 based on condensed consolidated interim financial statements.
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H1 2024 financial highlights
- Total Group revenue increased by 6.2% YoY to RUB 105.7 bn driven mainly by retail revenue growth from both O’KEY hypermarkets and DA! discounters. The two formats demonstrated LFL revenue growth for the reporting period.
- Group gross profit rose by 6.7% YoY to RUB 24.2 bn, while gross margin grew by 0.1 pps to 22.9% mainly due to efficient procurement and shrinkage cost management.
- Group EBITDA increased by 35.4% YoY to RUB 9.6 bn, while EBITDA margin grew by 2.0 pps to 9.1% due to improved profitability in both business segments.
- O’KEY hypermarkets EBITDA grew by 18.6% YoY to RUB 6.5 bn, while EBITDA margin was up by 1.3 pps to 9.2% driven by revenue growth combined with optimised operating expenses.
- DA! discounters EBITDA nearly doubled YoY to RUB 3.2 bn, while EBITDA margin increased to 9.0% from 5.4% in the prior year. This was driven by both operating expenses optimisation and maturation of DA! stores opened in previous years.
- The Group posted a net profit of RUB 78 mln for H1 2024 compared to a net loss of about RUB 3.0 bn a year earlier.
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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