18 April 2023

O`KEY GROUP REPORTS NET PROFIT GROWTH OF 16.2%, 
DA! DISCOUNTERS EBITDA MORE THAN DOUBLES IN FY 2022

O`KEY Group S.A. (AIX, LSE, MOEX: OKEY, the “Group”), one of Russia’s leading food retailers, has announced its financial results for the full year of 2022 based on audited consolidated financial statements.

All materials published by the Group are available on its website okeygroup.lu.

All results are according to IFRS 16, unless stated otherwise.

FY 2022 financial highlights
 

• Total Group revenue increased by 8.1% YoY to RUB 202.2 bn
• Group gross profit rose by 11.1% to RUB 46.8 bn, and gross margin improved by 0.7 pps YoY to 23.2%
• Group EBITDA grew by 9.8% YoY to RUB 17.0 bn, and EBITDA margin increased by 0.1 pps YoY to 8.4%
• DA! discounters EBITDA surged 2.2 times YoY to RUB 3.6 bn, and EBITDA margin reached 6.8%
• The Group’s operating profit grew by 15.2% YoY to RUB 5.8 bn
• The Group’s net profit increased by 16.2% YoY and amounted to RUB 242 mln

Key events after the reporting period
 

• In March 2023, the Group’s global depositary receipts (GDRs) were admitted to the quotation list in the main market segment on the Astana International Exchange (AIX).

The full announcement is available at https://www.okeygroup.lu/press-center/press-releases/2023/1836/.

Group Profit and Losses Highlights for FY 2022
 

Group Revenue
 

In FY 2022, Group retail revenue grew by 8.1% YoY to RUB 200,201 mln, driven by the expansion of the two chains, as well as DA! discounters' LFL revenue and O`KEY's online revenue growth.

The Group’s rental income increased by 2.3% YoY and amounted to RUB 1,970 mln in FY 2022. Total Group revenue was up by 8.1% YoY to RUB 202,171 mln in FY 2022.

Group Net Retail Revenue and LFL Revenue
 

For more details, please refer to the Group’s Q4 and 12M 2022 Trading Update.

Group Gross Profit
 

In FY 2022, Group gross profit rose by 11.1% YoY to RUB 46,808 mln, while gross margin improved by 0.7 pps YoY to 23.2%. The improvement was made possible by the Group’s effective procurement and logistics management, timely efforts in reshaping the supply of products on offer, and operational synergies between the formats.

In 2022, thanks to our long-term partnership with local suppliers, we introduced new SKUs into our offering. Additionally, we successfully phased out some of the imported SKUs, ensuring a diverse selection of products at reasonable prices without sacrificing our margins.

Group Selling, General and Administrative Expenses