O`KEY Group S.A. (LSE: OKEY, the ‘Group’) announces that RAEX (Expert RA, the ‘Agency’) has affirmed O`KEY LLC, the main operating subsidiary of O`KEY Group S.A., a credit rating of ‘ruA-’. The outlook of the rating is Stable.
All materials published by the Group are available on its website www.okeygroup.lu
The rating reflects the Group’s stable position in Russian food retail and strong liquidity metrics, as well as high quality of corporate governance and risk management.
The Agency noted an improvement in the Group's revenue and profitability indicators for 2019, as well as a decrease of the total debt level and improved diversification of the debt portfolio.
O`KEY Group S.A. (LSE: OKEY, RAEX – ‘ruA-’) operates under two main formats: hypermarkets under the ‘O’KEY’ brand and discounters under the ‘DA!’ brand.
As of July 3, 2020, the Group operates 176 stores across Russia (77 hypermarkets and 99 discounters). The Group opened its first hypermarket in St. Petersburg in 2002 and has since demonstrated continuous growth. O`KEY is the first among Russian food retailers to launch and actively develop e-commerce operations in St. Petersburg and Moscow, offering a full range of hypermarket products for home delivery. The Group operates six e-commerce pick-up points in Moscow and six e-commerce pick-up points in St. Petersburg. The Group operates four distribution centres across the Russian Federation – two in Moscow and two in St. Petersburg. The Group employs more than 20,000 people.
For the full year of 2019, revenue totalled RUB 165,086,202 thousand, EBITDA reached RUB 14,061,431 thousand, and net income for the period amounted to RUB 746,958 thousand.
The O`KEY shareholder structure is as follows: NISEMAX Co Ltd – 44.79%, GSU Ltd – 29.52%, free float – 25.69%.
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