O`KEY Group S.A. (AIX, MOEX: OKEY, the “Group” or the “Company”), one of Russia’s leading food retailers, announces that Expert RA (the ‘Agency’) has 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.
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The credit rating confirmed by the Agency reflects, among other things, the Company's strong market position, moderate debt burden, strong liquidity indicators and low level of corporate risks.
The Agency noted the Group's stable competitive position among the 10 largest food retailers in Russia, as well as its diversified geographical presence and balanced retail formats portfolio.
The Group's revenue growth of 5.5% to RUB 219.4 billion and an increase in EBITDA profitability (according to IFRS 16) to 9.1% in 2024 support the assessment of the Group profitability. The Agency also noted a 4.1% increase in the Group's LFL revenue by the end of 2024 as one of the positive factors.
The Agency assessed the Group's debt burden as average: 75% of the loan portfolio is represented by long-term loans, which is positively assessed by the Agency.
The Agency highly appreciated the Company's liquidity indicators, which, according to Expert RA, is due to the diversified financing structure and the absence of repayment peaks in the medium term.
The Agency also notes that the Group has a low exposure to market risks due to the low volume of purchases denominated in foreign currency, as well as the absence of external debt in foreign currency.
The rating was also influenced by the Agency's high assessment of the quality of corporate governance, transparency, risk management and strategic assurance, as well as the transparent ownership structure of the Group.
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For further information please contact:
For investors:
Natalya Belyavskaya
Head of Investor Relations
+7 495 663 6677 ext. 266
natalya.belyavskaya@okmarket.ru
www.okeygroup.lu
For the media:
pr@okmarket.ru
EM (communications consultants to O’KEY Group)
Valeria Andreeva
+7 916 978 02 10
andreeva@em-comms.com