The Obuv Rossii group of companies, which manages the retail brands Westfalika, Pedestrian and Emilia Estra, has summed up its financial results for the first half of 2013. According to the report, revenue increased by 87% compared to the same period in 2012 to 1,95 billion rubles. Net profit increased 2,6 times compared to the first half of 2012 to 203 million rubles. EBITDA increased 2,3 times to RUB 338 million, while EBITDA margin reached 17,3%.
The significant increase in profit and EBITDA is due to qualitative changes in the assortment - an increase in the share of more expensive fashion shoes in collections (over 50%); growth in sales of a high-margin product category - related products (now the share in revenue is 12%); as well as the development of the Westfalika store format for shopping centers and the distribution of new financial services for buyers - microloans.
“Along with the plan for the dynamic expansion of the retail network, we are successfully implementing a program to increase customer loyalty, increase the number of repeat purchases and requests for installment and microloan services. All this helps us to increase the profitability and profitability of the business, ”comments Anton Titov, Director of the Obuv Rossii Group of Companies.
In the first half of the 2013 year, the Group opened the 32 store as part of the annual investment program, which involves the opening of more than 60 retail outlets and investments in the amount of 700 million rubles, and entered the 10 markets of new cities and new regions such as the Khanty-Mansi Autonomous Okrug, Republic Buryatia, Trans-Baikal Territory. Newly opened stores are mainly Westfalika stores in the format for shopping centers. In March, Obuv Rossii went to Moscow with a new format and opened a store in the Filion shopping center. In total, the Group estimates the capacity of the capital market for the Westfalika brand in 80 stores.