Okey Company News - 2H 19 EBITDA in-line, net income affected by impairments
Yesterday, Okey released neutral 2H 19 IFRS results. The results were in line with our expectations on revenue (-0.1%), slightly higher on EBITDA (+3.8%) and significantly below on net income (-51.2%), mostly due to impairment charges. There are no consensus expectations available. There are no comparable figures under IFRS 16 for 2H 18, hence yoy comparison of profit and loss items is done on a full-year basis, except for revenue which is unaffected by the adoption of IFRS 16. The 2018 cash flow statement and balance sheet were not reported under IFRS 16, hence no yoy comparison is possible.O'key Group is a Russian retailer. Co.'s principal business activity is operation of retail chain in Russia under brand name O'KEY. Co. provides customers with fresh produce (fresh foods and delicatessen products) and non-food goods (cosmetics, clothing, shoes, household cleaning products, domestic appliances, toys, sports and fitness products, etc.). Co.'s stores follow two formats: hypermarkets and supermarkets. Co. manages approximately 71 stores (42 hypermarkets and 29 supermarkets) across North Western, Southern, Central, Urals and Siberian regions.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.