Net profit of Obuv Rossii GC in 2017 increased by 10,8%
Obuv Rossii GC reported financial results under IFRS for the 2017 year.
The Group’s revenue in 2017 increased by 8,4% and amounted to 10,801 billion rubles, compared to 9,965 billion rubles. in 2016 year. Comparable sales of the Obuv Rossii group of companies increased by 2,8%: - a comparable number of checks decreased by 3,7%; - The comparable average check size increased by 6,8%. Net profit increased by 10,8% to 1,310 billion rubles, compared to 1,183 billion rubles. in 2016 year.
EBITDA increased by 7,8% and amounted to 2,737 billion rubles, compared with 2,540 billion rubles. in 2016 year. EBITDA margin decreased by 0,2 percentage points and amounted to 25,3%.
“Obuv Rossii Group of Companies successfully completed its first year in the status of a public company, demonstrating high performance and fully fulfilling its plans,” said Anton Titov, Director of Obuv Rossii Group of Companies. - In the 2017 year, the Group's retail network grew with 83 stores and at the end of the year there were 535 outlets. The company's revenue for the year increased by 8,4% - up to 10,8 billion rubles. As a result, Obuv Rossii strengthened its leadership in the mid-price segment, increasing the gap from competitors. EBITDA margin - in 2017, amounted to 25,3%, which is a high result among the world's leading fashion retailers. In 2017, Obuv Rossii increased its net profit by 10,8% to 1,31 billion rubles. This was made possible thanks to several factors: “Shoes of Russia” in the 2017 year continued to develop collections, increasing the share of more fashionable shoes of interesting design and casual style shoes; The company expanded its range of high-margin related products (their share in retail revenue reached 31%). Also, “Shoes of Russia” in the 2017 year improved the work of online stores and launched updated mobile versions of sites, which increased the revenue in e-commerce by 56%. ”
The company believes that the growth of business indicators is also associated with positive dynamics in the Russian shoe market: “The 2017 year was a turning point for the industry: for the first time since the 2014 year, the shoe market returned to growth in kind, demand began to recover gradually.”
The Obuv Rossii GC plans for 2018 to continue developing its own retail and open more 100 stores, 60 of which will be launched in the first half of the year.
Obuv Rossii GC reported financial results under IFRS for the 2017 year.
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