NOVOSIBIRSK, Russia--(BUSINESS WIRE)--
Obuv Rossii Group (MOEX: OBUV), the first publicly traded company in the Russian fashion retail, comprising 794 stores in 290 cities of Russia and two production facilities, announces its unaudited financial results in accordance with IFRS for 1Q ended 31 March 2019.
1Q 2019 FINANCIAL HIGHLIGHTS:
- Group consolidated unaudited revenue increased by 13.1 % y-o-y to RUB 2.555 bln.
- LFL sales of Obuv Rossii Group increased by 2.1 % with LFL number of tickets growing by 0.3 % and LFL average ticket size rising by 1.8 %.
- Gross profit grew by 31.6% y-o-y to RUB 1.564.
- Gross profit margin reached 61.2% growing by 8.6 p.p.
- EBITDA increased by 77.5% y-o-y to RUB 0.613 bln.
- EBITDA margin grew by 8.7 p.p. and amounted to 24%.
- Net profit soared by 161.8% y-o-y to RUB 0.217 bln.
- Net profit margin amounted to 8.5% growing by 4.8 p.p.
Anton Titov, CEO of Obuv Rossii Group, comments:
In 1Q 2019, Obuv Rossii increased revenue by 13.1 y-o-y to 2.56 billion rubles. In addition to ramp-up of stores opened in 2018 the key driver of growth was LFL sales growth rate of 2.1%. In 1Q online sales of the company rose by 42%, their share in retail revenue reached 14%. In 1Q Obuv Rossii considerably increased its efficiency: EBITDA grew by 77.5%, the net profit soared by 2.6 times stemming from relocation of stores to places with higher foot traffic, rent cost cutting and significant growth of cash loans LFL of 26.3% and increase of interest income. In 2019 the Group intends to open 150 stores mainly in the towns with population from 15 to 250 ths. people. Most new sales points will start operation till autumn-winter season.
About OBUV ROSSII ()
Obuv Rossii Group is a federal retail shoe chain, the first publicly traded company in the Russian fashion retail. Obuv Rossii was established in 2003, it is headquartered in Novosibirsk with a representative office in Moscow.
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