NOVOSIBIRSK, Russia--(BUSINESS WIRE)--
Obuv Rossii Group (MOEX: OBUV), the first publicly traded company in the Russian fashion retail, comprising 850 stores in 341 cities of Russia and two production facilities, announces its unaudited financial results in accordance with IFRS for 1H ended 30 June 2020.
1H 2020 FINANCIAL HIGHLIGHTS:
- Group unaudited consolidated revenue decreased by 26.4% y-o-y to RUB 3.963 bln as a result of lockdown in April and May.
- Net loss amounted to RUB 0.306 bln, which primarily stems from revenue decrease during lockdown period.
- Gross profit amounted to RUB 2.278 bln. Gross profit margin was 57.5%.
- EBITDA accounted for RUB 0.426 bln. EBITDA margin amounted to 10.7%.
- Cash flow recovered: RUB -0.156 bln in 1H 2020 compared with RUB -1.059 bln in 1H 2019.
- Cash assets and its equivalents grew up to RUB 0.776 bln compared to RUB 0.713 bln in the previous year.
- As of 30 June 2020 Group’s total credit and interest debt amounted to RUB 12.921 bln.
- As of 30 June 2020 Group’s undrawn credit line accounted for RUB 2.875 bln.
- Total LFL revenue rose by 0.2%.
- Portfolio size in installment payments decreased by 7.1% to RUB 2.195 bln, portfolio size in cash loans increased by 23.2% to RUB 2.529 bln.
- Revenue of Prodayom platform amounted to RUB 277 mln. Prodayom project includes the sales of partner goods under marketplace model in retail chain and on westfalika.ru online platform.
Anton Titov, CEO of Obuv Rossii Group, commented:
The downturn has confirmed the efficiency and has triggered the changes in Group’s business. OR PJSC is mostly accomplishing its transformation from the retail chain of classical fashion stores into the generalist retail company which creates infrastructure for development of modern retail formats integrating online and offline, innovating elements in cooperation with partners, add-on services for clients. In autumn 2020 we will present the strategy of Group’s development for 2021-2023.
About OBUV ROSSII ()
Obuv Rossii Group is a nationwide retail 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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