Shoe of Russia provided credit lines for 1,5 billion rubles
20.07.2016 2056

Shoe of Russia provided credit lines for 1,5 billion rubles

VTB Bank and Obuv Rossii Group of Companies continue to cooperate within the established credit limit. The Bank opens two revolving unsecured credit lines for the Group for a total amount of RUB 1,5 billion for a period of 3 years. Obuv Rossii will use the raised funds to implement the production development program and finance the current activities of the Group.

“VTB is one of our key financial partners, and we are pleased to continue working together,” comments Anton Titov, Director of Obuv Rossii Group of Companies. - Now our company is actively developing production, investing in capacity building. Our task is to increase the share of our own production in the total volume of our products to 50%. In particular, thanks to the financial support of the bank, we solve the tasks and implement our business strategy. ”

The head of the VTB corporate branch in Novosibirsk, Vyacheslav Bryukhanov, in turn, noted: “Obuv Rossii Group of Companies is an excellent example of an enterprise that clearly understands its goals, strengths and development strategy, which allows it to successfully develop in any conditions. It’s important for us to support companies that invest in production projects, increase domestic production volumes and contribute to the implementation of the national import substitution program. ”

In the 1 quarter of 2016, Obuv Rossii increased revenue by 11% to 1,98 billion rubles, net profit amounted to 234 million rubles, EBITDA - 25,2%. At the end of May, Obuv Rossii announced a program to develop production for the next 7 years in the amount of 5 billion rubles, of which 2 billion was its own funds. This year, Obuv Rossii opened a new workshop for the production of special and military footwear and began modernizing the cutting and sewing workshop at a factory in the city of Berdsk, Novosibirsk Region.

VTB Bank and Obuv Rossii Group of Companies continue cooperation within the established limit ...

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