O`KEY GROUP DELIVERS 7.9% EBITDA MARGIN IN H1 2020

O`KEY Group S.A. (LSE: OKEY, the ‘Group’), one of Russia’s leading food retailers, has announced its financial results for the first six months of 2020 based on condensed consolidated interim financial statements reviewed by auditors.

All results are presented under IFRS 16 unless stated otherwise.

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H1 2020 financial highlights

  • Total Group revenue increased by 6.5% YoY to RUB 85,059 mln

  • O`KEY revenue rose by 1.6% YoY to RUB 72,417 mln, driven by 4.3% LFL revenue growth

  • DA! revenue jumped by 46.8% YoY to RUB 12,642 mln, led by 31.3% LFL revenue growth and supported by selling space expansion

  • Group gross profit increased by 4.3% to RUB 19,654 mln

  • Group EBITDA grew by 5.6% YoY to RUB 6,698 mln, and EBITDA margin stood at 7.9%

  • DA! discounters EBITDA improved from negative RUB 169 mln in H1 2019 to positive RUB 459 mln in H1 2020, on the back of strong revenue performance and efficiency growth

  • Net debt position remained flat YoY at a 3.9x total interest bearing liabilities to EBITDA ratio, as of June 30, 2020

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