MTS Bank entered into an agreement with the Obuv Rossii group of companies (hereinafter referred to as the Group or Obuv Rossii) to increase the limit on the credit line opened by the bank in August 2016 for 3, from 500 to 700 million rubles. The funds raised will be used to replenish working capital and finance the current activities of the group.
“MTS Bank offers its customers high-quality and convenient service on favorable terms,” said Mikhail Yatsenko, Head of the Corporate Unit, Vice President of MTS Bank. - We are pleased to continue cooperation with Shoe of Russia, a leading player in the shoe market. The company invests in its own production, which allows it to increase competitiveness in the current difficult macroeconomic conditions. ”
“Developing relationships with key financial partners is an important part of our business strategy. Therefore, we highly appreciate that MTS Bank supports us and expands the volume of cooperation with the company, ”said Anton Titov, Director of Obuv Rossii Group of Companies. “This gives us the opportunity to implement new projects, modernize our factory and expand production facilities.”
For the 9 months of the 2016 of the year, Obuv Rossii increased revenue by 13% to 6,3 billion rubles, net profit by 0,8% to 741 million rubles .; EBITDA margin was 25,3%. As part of the seven-year production development program in 2016, Obuv Rossii opened a new workshop for the production of special and military footwear, began modernizing the cutting and sewing workshop - acquired two sets of Orisol automated sewing systems; 1,5 times increased production facilities at a factory in the city of Berdsk, Novosibirsk Region. In 2017, the company will continue to increase production capacity and develop new markets.
MTS-Bank Public Joint-Stock Company (MTS-Bank PJSC) is a universal commercial bank, one of the 50 leading Russian banks and an Authorized Bank of the Moscow Government. General license of the Bank of Russia for banking operations No. 2268 of 17.12.2014 of the year. The network of MTS Bank service offices covers 49 cities in 30 in the largest regions of Russia. The main shareholders are PJSC AFK Sistema and PJSC MTS.
The Obuv Rossii group of companies was founded in 2003; its head office is located in Novosibirsk. The main business areas are footwear production, retail and wholesale of footwear and related goods. Obuv Rossii develops five shoe chains: Westfalika (mono-brand, mid-price segment), Pedestrian (multi-brand shoe supermarket), Emilia Estra (shoes boutique), Rossita (store for the whole family) and Lisette (fashion shoe salons). The shoe chain "Obuv Rossii" today has more than 450 stores in more than 100 cities. RAEX (Expert RA) assigned the Group an 'A +' credit rating (very high level of creditworthiness), the third sublevel, with a stable outlook. The company's revenue in 2015 according to RAS amounted to 9 billion rubles, net profit - 1,3 billion rubles.