Detskiy Mir Company News - Decent EBITDA margin thanks to efficiency gains
Today, Detskiy Mir released slightly positive 3Q 20 unaudited IFRS results. The companys EBITDA adj. for LTI was slightly ahead of our and Interfax consensus expectations. The 1.5% yoy decline in net profit caused by FX loss was not a surprise to us and should not affect the companys dividends which are paid out of RAS net profit. The latter for 1Q-3Q 20 increased by 0.4% yoy and the companys management recommended paying it out in full as dividends.Detskiy Mir PAO is a Russia-based company, which is primarily engaged in the children products retail sector. The Company offers a wide range of products, such as toys, clothing and footwear, baby goods, stationery, school and learning related products, creative kits, sport related products, food, car seats, furniture, among others. The Company's structure includes the chain of stores Detskiy Mir and the retail network ELC (Early Learning Center). The Company's Detskiy Mir chain comprises over 480 stores located on the territory of the Russian Federation and Kazakhstan, as well as more than 40 ECL stores. Detskiy Mir PAO is primarily active domestically and in the Commonwealth of Independent States (CIS) countries. In addition, the Company sells products online via its Website. The Company's major shareholder is AFK Sistema PAO.
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