O`KEY Group S.A. (AIX, MOEX: OKEY, the “Group” or the “Company”), one of Russia’s leading food retailers, announces that NCR rating agency (the ‘Agency’) has affirmed a credit rating of ‘A.ru’ for O`KEY LLC, the main operating subsidiary of O`KEY Group S.A.
Download full press release >>
The Agency rated the Company's business profile moderately high due to the wide geographical presence, diversified customer base, and low assets concentration risks.
The Agency positively assessed the Group's strategy with a focus on developing the discounter business in response to the growing consumer sensitivity to prices. Over the past five years, the share of DA! discounters in the Group's revenue has grown from 15% to 33%. The Agency expects discounters to remain a key driver of the Group's growth in 2025.
According to the Agency, the assessment of the Company's financial profile is supported by strong debt service indicators. According to the Agency's calculations, the total amount of cash and operating profit (OIBDA) of the Group in 2023-2024 was 1.2-1.5 times higher than the total amount of short-term debt and net interest expenses. The share of short-term debt ranged from 17-24% of the Group's total debt.
The Agency highly appreciated the Group's level of corporate governance and transparency, as well as low shareholder risks. The Company's credit history and payment discipline were also positively assessed.
Download full press release >>
For further information please contact:
Natalya Belyavskaya
Head of Investor Relations
+7 495 663 6677 ext. 266
natalya.belyavskaya@okmarket.ru
www.okeygroup.lu