O'KEY Group Reveals Q3 2024 Operating Results

O'KEY Group S.A., a prominent Russian food retailer, has disclosed its unaudited results for Q3 and the first nine months of 2024. The Group's net retail revenue for Q3 rose by 4.4% year-on-year, reaching RUB 51.0 billion. This growth was largely fueled by the performance of both O'KEY hypermarkets and DA! discounters.

O'KEY hypermarkets reported a modest 1.0% increase in net retail revenue, totaling RUB 33.3 billion. DA! discounters, however, experienced a significant boost, with their net retail revenue climbing 11.5% to RUB 17.7 billion, underpinned by a 7.8% rise in like-for-like (LFL) revenue and increased selling space, accounting for 34.7% of the Group's net retail revenue.

For the nine months ending in 2024, the Group's net retail revenue ascended by 5.6% to RUB 155.6 billion. Among the notable developments in Q3 was the completion of the Group's transition to a new depository, RCS Group, for its global depository receipts programs.