O`KEY GROUP REPORTS UNAUDITED FINANCIAL RESULTS FOR H1 2021, DA! DISCOUNTERS SHOW A 46.1% EBITDA GROWTH

O`KEY Group S.A. (LSE, MOEX: OKEY, the “Group” or the “Company”), one of Russia’s leading food retailers, today announces its financial results for the first six months of 2021 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 2021 FINANCIAL HIGHLIGHTS

  • Group revenue increased by 4.2% YoY to RUB 88,662 mln
  • O`KEY revenue grew by 0.8% YoY to RUB 73,001 mln from the high base of H1 2020
  • DA! revenue rose by 23.9% YoY to RUB 15,661 mln, driven by a 10.2% LFL revenue growth and the expansion programme
  • Group gross profit increased by 2.6% YoY to RUB 19,486 mln, while gross profit margin stood at 22.0%
  • Group EBITDA amounted to RUB 6,575 mln, and EBITDA margin was 7.4%
  • O`KEY hypermarkets EBITDA reached RUB 5,904 mln, with EBITDA margin of 8.1%
  • DA! discounters EBITDA improved by 46.1% YoY to RUB 671 mln, led by the chain’s ramp-up

Armin Burger, O`KEY Group CEO, commented:

“The Group delivered a strong set of financial results fully in-line with our expectations. The revenue growth was driven by both hypermarkets and discounters. Our strategy based on a combination of clearly positioned store formats enables us to cover all customer segments and benefit from the synergies.

“O`KEY hypermarkets demonstrated decent results, especially given the challenging base of H1 2020. The Group is strongly positioned as one of the leading hypermarket players in Russia, and continued to improve the store portfolio to enhance sales density and streamline the cost base. We are also reformatting and renovating hypermarkets in our core regions to further strengthen their competitiveness in a fast-changing environment. O`KEY is developing a multi-channel e-commerce shopping model with its own platform in efficient collaboration with delivery operators. We are pleased to post a 62.6% YoY online revenue growth in H1 2021.

“DA! discounters continued to outperform the market and increased their revenue by almost 24% YoY with an impressive 10% like-for-like growth in H1 2021 delivered on top of their 31.3% LFL performance in H1 2020. As the chain keeps ramping-up, we see a substantial profitability improvement. We expect discounters to grow further their top- and bottom-line and reach up to 50% of the Group’s revenue in a four-year horizon.

“We reiterate our guidance and expect a low-single-digit LFL growth at hypermarkets and a double-digit LFL growth at DA! discounters in 2021. We plan to open 35–40 DA! discounters, and O`KEY will relaunch 3 newly renovated hypermarkets by the end of 2021.”

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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 media
Alla Golovatenko
Head of Public Relations
+7 495 663 6677 ext. 496
alla.golovatenko@okmarket.ru
www.okeygroup.lu