NOVOSIBIRSK, Russia--(BUSINESS WIRE)--Obuv Rossii Group (MOEX: OBUV/ hereinafter the "Company" or, together with its subsidiary and dependent companies, "Obuv Rossii" or the "Group"), ranked among top two Russian footwear retailers1, comprising 560 stores in 154 cities of Russia and two production facilities, announces audited financial results in accordance with IFRS for the full year ended 31 December 2017.
FY 2017 FINANCIAL HIGHLIGHTS:
- Group revenue increased by 8.4% year-on-year to RUB 10.801 bln.
- Gross profit slightly decreased by 0.1% year-on-year to RUB 5.853 bln.
- Gross profit margin declined by 4.6 p.p. and amounted to 54.2%.
- EBITDA grew by 7.8% year-on-year and accounted for RUB 2.737 bln.
- EBITDA margin slightly declined by 0.2 p.p. and amounted to 25.3%.
- Net profit rose by 10.8% year-on-year to RUB 1.310 bln.
- Net profit margin reached 12.1%, compared to 11.9% in 2016.
- Net debt / EBITDA ratio decreased to 1,7x as of 31 December 2017, from 2.8x as of 31 December 2016.
Anton Titov, CEO of Obuv Rossii Group, comments:
Obuv Rossii Group successfully completed its first year as a public company, demonstrating high performance indicators and meeting the guidance to the full extent. In 2017 our retail chain increased by 83 stores up to 535 stores. As a result, Obuv Rossii strengthened its position as a leader in the mid-price segment, lengthening its lead over competitors. In 2017 EBITDA margin amounted to 25.3%, it is a high result among leading global fashion retailers. Taking into account the favorable situation on the Russian footwear market, Obuv Rossii intends to further consolidate the market, using the advantages of the unique business model that includes the development of brand portfolio, diversified range of related goods and services, innovative loyalty program and omnichannel sales. In 2018, Obuv Rossii will open 100 stores, with 60 of them starting to operate already in the first half year.
About OBUV ROSSII (http://obuvrus.ru/en/)
Obuv Rossii Group is a federal retail shoe chain ranked among top two Russian footwear retailers. The Group is the leader of the mid-price segment of the shoe market. Obuv Rossii was established in 2003, it is headquartered in Novosibirsk with a representative office in Moscow.
1 In terms of the number of stores in 2017, according to Discovery Research Group