O'KEY Group Reports 5.2% Retail Revenue Growth in Q2 2024

O'KEY Group S.A., one of Russia's prominent food retailers, revealed a 5.2% year-on-year increase in net retail revenue, reaching RUB 52.3 billion for the second quarter of 2024. The growth was primarily driven by the strong performance of O'KEY hypermarkets and DA! discounters, alongside the expansion of the DA! chain.

O'KEY hypermarkets experienced a 1.0% rise in net retail revenue to RUB 33.9 billion, with a like-for-like revenue increase of 1.5%. Meanwhile, DA! discounters saw robust growth, with net retail revenue climbing 13.8% year-on-year to RUB 18.4 billion, propelled by a 6.3% rise in like-for-like revenue.

For the first six months of 2024, the Group's net retail revenue grew by 6.2% year-on-year to RUB 104.6 billion. The DA! discounters played a significant role in this growth, with their revenue increasing by 15.7% year-on-year.

Key developments in 2024 include O'KEY Group's completion of the listing transfer of its GDRs to the Moscow Exchange and the AIX, as well as transitioning to a new depositary bank.