Last checked at 8 Jul 2019 12:29
O'KEY Group S.A. (OKEY) O'KEY Group S.A.: RAEX (Expert RA) affirms O'KEY 'ruA-' rating with a stable outlook 08-Jul-2019 / 13:29 CET/CEST Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
Press release 8 July 2019
RAEX (EXPERT RA) AFFIRMS O'KEY 'ruA-' RATING WITH A STABLE OUTLOOK
O'KEY Group S.A. (LSE: OKEY, the 'Group') announces that RAEX (Expert RA) has affirmed O'KEY LLC, the main operating subsidiary of O'KEY Group S.A., a credit rating of 'ruA-'. The outlook of the rating is Stable. All materials published by the Group are available on its website www.okeyinvestors.ru. The rating reflects the Group's stable position within the Russian food retail market, its strong liquidity and debt repayment capacity as well as high standards of corporate governance and risk management. RAEX (Expert RA) expects that in 2019-2020 the Group will demonstrate higher profitability driven by the continuation of positive trends within the discounter business.
OVERVIEW O'KEY Group S.A. (LSE: OKEY, RAEX - 'ruA-') operates under two main formats: hypermarkets under the 'O'KEY' brand and discounters under the 'DA!' brand. As at 08 July 2019, the Group operates 164 stores across Russia (78 hypermarkets and 86 discounters). The Group opened its first hypermarket in St. Petersburg in 2002 and has since demonstrated continuous growth. O'KEY is the first among Russian food retailers to launch and actively develop e-commerce operations in St. Petersburg and Moscow, offering a full range of hypermarket products for home delivery. The Group operates six e-commerce pick-up points in Moscow and six e-commerce pick-up points in St. Petersburg. The Group operates four distribution centres across the Russian Federation - two in Moscow and two in St. Petersburg. As at 31 December 2018 the Group employs more than 20,000 people. For the full year 2018, revenue totalled RUB 161,303,411 thousand, EBITDA reached RUB 8,644,008 thousand, and net loss for the period amounted to RUB 599,755 thousand. The O'KEY shareholder structure is as follows: NISEMAX Co Ltd - 44.79%, GSU Ltd - 29.52%, free float - 25.69%.
DISCLAIMER These materials contain statements about future events and expectations that are forward-looking statements. These statements typically contain words such as 'expects' and 'anticipates' and words of similar import. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. None of the future projections, expectations, estimates or prospects in this announcement should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct or exhaustive or, in the case of the assumptions, fully stated in this announcement. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.
For further information please contact:
Veronika Kryachko
Head of Investor Relations +7 495 663 6677 ext. 404 Veronika.Kryachko@okmarket.ru www.okeyinvestors.ru
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| ISIN: | US6708662019 |
| Category Code: | MSCM |
| TIDM: | OKEY |
| LEI Code: | 213800133YYU23T4L791 |
| Sequence No.: | 12687 |
| EQS News ID: | 837769 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.