O'KEY Group S.A.
O`KEY GROUP REPORTS OPERATING RESULTS FOR Q3 2024
06-Nov-2024 / 07:45 CET/CEST
The issuer is solely responsible for the content of this announcement.
Press release
6 November 2024
O`KEY GROUP REPORTS OPERATING RESULTS FOR Q3 2024
O`KEY Group S.A. (AIX, MOEX: OKEY, the “Group” or the “Company”), one of Russia’s leading food retailers, has announced its unaudited operating results for the third quarter (Q3) and the nine months (9M) of 2024.
All materials published by the Group are available on its website at www.okeygroup.lu.
Q3 2024 operating highlights
- Group net retail revenue[1] increased by 4.4% YoY to RUB 51.0 bn, driven mainly by LFL revenue growth of both O’KEY hypermarkets and DA! discounters.
- O`KEY hypermarkets’ net retail revenue grew by 1.0% YoY to RUB 33.3 bn on the back of a 1.0% increase in LFL revenue.
- DA! discounters' net retail revenue went up 11.5% YoY to RUB 17.7 bn, led by a 7.8% increase in LFL revenue and the selling space growth.
- DA! discounters’ share in the Group’s net retail revenue amounted to 34.7%.
9M 2024 operating highlights[2]
- Group net retail revenue rose by 5.6% YoY to RUB 155.6 bn.
- O`KEY hypermarkets’ net retail revenue was up by 1.6% YoY to RUB 102.7 bn, led by a 2.1% increase in LFL revenue.
- DA! discounters’ net retail revenue grew by 14.3% YoY to RUB 52.9 bn, driven by a 7.2% LFL revenue growth and the chain’s expansion.
Key events in Q3 2024
- In August, the Group completed the process of changing its depositary for the global depositary receipts (GDR) programs and appointed RCS Group as a new depositary effective from August 12, 2024.
The full text of the announcements is available at https://www.okeygroup.lu/press-center/press-releases/2024/1917/
[1] Hereinafter the net retail revenue, LFL net retail revenue, and online revenue metrics are provided net of VAT.
[2] Hereinafter the net retail revenue and LFL net retail revenue for 9M 2024 vs 9M 2023 is not adjusted for a leap-year effect, i.e. there was an additional trading day in February 2024 compared to February 2023.
Operating review
Group Net Retail Revenue in Q3 and 9M 2024
Net Retail Revenue, RUB mln (excl. VAT) | Q3 2024 | Q3 2023 | YoY, % | 9M 2024 | 9M 2023 | YoY, % |
O`KEY Group | 51,009 | 48,849 | 4.4% | 155,576 | 147,312 | 5.6% |
O`KEY hypermarkets | 33,287 | 32,960 | 1.0% | 102,670 | 101,013 | 1.6% |
DA! discounters | 17,722 | 15,889 | 11.5% | 52,907 | 46,298 | 14.3% |
Group Net Retail Revenue Monthly Dynamics in Q3 2024
| July | Aug | Sept | Q3 2024 | 9M 2024 |
Net retail revenue, % YoY |
O’KEY Group | 4.9% | 5.0% | 3.3% | 4.4% | 5.6% |
O'KEY hypermarkets | 0.2% | 2.3% | 0.4% | 1.0% | 1.6% |
DA! discounters | 14.3% | 10.7% | 9.4% | 11.5% | 14.3% |
Customer traffic, % YoY |
O’KEY Group | 1.9% | (2.5%) | (1.6%) | (0.7%) | (0.2%) |
O'KEY hypermarkets | (3.6%) | (5.2%) | (4.3%) | (4.4%) | (4.7%) |
DA! discounters | 8.3% | 0.7% | 1.4% | 3.4% | 5.3% |
Average ticket, % YoY |
O’KEY Group | 2.9% | 7.7% | 5.0% | 5.2% | 5.8% |
O'KEY hypermarkets | 3.9% | 7.9% | 4.9% | 5.6% | 6.7% |
DA! discounters | 5.5% | 9.9% | 8.0% | 7.8% | 8.5% |
Group Like-for-like Net Retail Revenue Performance in Q3 and 9M 2024
LFL Net Retail Revenue, % | Q3 2024 vs. Q3 2023 | 9M 2024 vs. 9M 2023 |
Net retail revenue | Traffic | Average ticket | Net retail revenue | Traffic | Average ticket |
O’KEY Group | 3.2% | (2.5%) | 5.8% | 3.7% | (3.0%) | 6.9% |
O'KEY hypermarkets | 1.0% | (4.4%) | 5.6% | 2.1% | (4.4%) | 6.8% |
DA! discounters | 7.8% | (0.4%) | 8.2% | 7.2% | (1.2%) | 8.5% |
Note: Q3 2024 LFL metrics are calculated based on 77 O`KEY and 210 DA! stores.
Group Stores and Selling Space in 9M 2024
Stores and Selling Space | 9M 2024 | 9M 2023 | Net change | Change, % |
Number of stores, EoP | 296 | 296 | - | - |
O`KEY hypermarkets | 77 | 77 | - | - |
DA! discounters | 219 | 219 | - | - |
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