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O'KEY Group S.A. (OKEY)
O'KEY Group S.A.: RAEX (EXPERT RA) assigns O'KEY a 'ruA-' rating with a
positive outlook
06-Jul-2018 / 18:12 CET/CEST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Press release
6 July 2018
RAEX (EXPERT RA) ASSIGNS O'KEY A 'ruA-' RATING WITH A POSITIVE OUTLOOK
O'KEY Group S.A. (LSE: OKEY, the 'Group'), one the leading food retailers in
Russia, announces that RAEX (Expert RA) has assigned O'KEY LLC, the main
operating subsidiary of O'KEY Group S.A., a credit rating of 'ruA-'. The
outlook of the rating is Positive.
All materials published by the Group are available on its website
www.okeyinvestors.ru [1].
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 2018-2019 the Group will demonstrate higher
profitability driven by a recovery in operating cash flow and the
continuation of positive trends within the discounter business.
COMPANY OVERVIEW
O'KEY Group S.A. (LSE: OKEY, Fitch - 'B+', RAEX - 'ruA-') is one of the
largest retail chains in Russia. The Group operates under two main formats:
hypermarkets, under the 'O'KEY' brand and discounters, under the 'DA!'
brand.
As at July 6, 2018, the Group operates 147 stores across Russia. 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 four distribution centres across the
Russian Federation.
For the full year 2017, revenue totalled RUB 177,454,848 thousand, EBITDA
reached RUB 9,334,993 thousand, and the net income for the period amounted
to RUB 3,166,913 thousand.
The O'KEY shareholder structure is as follows: NISEMAX Co Ltd - 50.95%, GSU
Ltd - 29.52%, free float - 19.53%.
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 [1]
ISIN: US6708662019
Category Code: MSCM
TIDM: OKEY
Sequence No.: 5722
EQS News ID: 702481
End of Announcement EQS News Service
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=84b74359656d56d98d524fc5103bc088&application_id=702481&site_id=vwd&application_name=news
(END) Dow Jones Newswires
July 06, 2018 12:12 ET (16:12 GMT)
