par O'KEY Group S.A. (isin : US6708662019)
O`KEY GROUP REPORTS 5.2% NET RETAIL REVENUE GROWTH IN Q2 2024
O'KEY Group S.A. Press release 31 July 2024 O`KEY GROUP REPORTS 5.2% NET RETAIL REVENUE GROWTH IN Q2 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 second quarter (Q2) and the six months (6M) of 2024.
All materials published by the Group are available on its website at www.okeygroup.lu.
Q2 2024 operating highlights
6M 2024 operating highlights[2]
Key events in 6M 2024 and after the reporting date
The full text of the respective announcements is available at https://www.okeygroup.lu/press-center/press-releases/2024/1902/ and at https://www.okeygroup.lu/press-center/press-releases/2024/1906/
Operating review Group Net Retail Revenue in Q2 and 6M 2024
Group Like-for-Like Net Retail Revenue Performance in Q2 and 6M 2024
Note: Q2 2024 LFL metrics are calculated based on 77 O`KEY and 202 DA! stores.
In Q2 2024, the Group’s net retail revenue increased by 5.2% YoY to RUB 52,316 mln, led mainly by LFL revenue growth of the two chains, as well as the discounter business expansion. Net retail revenue of O`KEY hypermarkets rose by 1.0% YoY to RUB 33,896 mln on the back of a 1.5% LFL net retail revenue increase in Q2 2024. Over the first half of 2024, O’KEY management team has been significantly strengthened with seasoned professionals in store operations, commercial, marketing, real estate, non-commercial purchases and more. In Q2 2024, O'KEY initiated a thorough review of assortment and suppliers portfolio to further strengthen customer proposition and build long-term and mutually beneficial strategic partnerships at the same time. The process is being backed by updating the promotional, pricing and marketing concepts as the basis for the development of renewed strategy for O’KEY hypermarkets. In Q2 2024, DA! discounters’ net retail revenue grew by 13.8% YoY to RUB 18,420 mln, driven by a 6.3% LFL revenue growth and a 6.9% YoY increase in selling space. The discounters’ share in the Group’s revenue grew by 2.7 p.p. YoY to 35.2% in Q2 2024. The DA! discount chain continued to work on providing the best value for money proposition to our customers, with an emphasis on the range of fresh and ultra-fresh products and further improving the portfolio of its own brands.
Group Stores and Selling Space in 6M 2024
In Q2 2024, the Group closed three and opened two DA! stores. As of 30 June 2024, the Group operated a total of 77 O`KEY hypermarkets and 219 DA! discounters with a total selling space of 659,973 sq |