O`KEY Group S.A. (LSE, MOEX: OKEY; the “Group” or the “Company”), one of Russia’s largest food retailers, announces that Expert RA has affirmed the credit rating of O`KEY LLC, the main operating subsidiary of O`KEY Group S.A., at “ruA-”, outlook Stable.
The rating reflects the Group’s solid and stable operational and financial position in the market, low exposure to market risks, and high standards of corporate governance, risk management, strategic control and transparency.
The agency noted an improvement in the Group’s revenue and EBITDA under IFRS 16 in 2021, which grew to RUB 187.1 bn (+7.3%) and RUB 15.5 bn (+4.5%), respectively. The discounters' EBITDA more than doubled YoY to RUB 1.7 bn, bolstering further the Group’s margin.
The qualitative assessment of the Group’s liquidity is high, which is attributable to low leverage and diversified financing structure. These factors also had a positive effect on O`KEY’s rating.