Confirmed rating
27.09.2012 2536

Confirmed rating

The Expert RA rating agency has confirmed the credit rating of the Obuv Rossii group of companies at level A (high level of creditworthiness), with a positive outlook. Positive outlook means a high likelihood of a rating upgrade in the medium term.

The group's rating was positively influenced by the growth and high level of capital adequacy (the ratio of equity to assets as of 30.06.2012 was 0.6), as well as acceptable indicators of liquidity, profitability (at the end of 2011 for the group ROA = 9%, ROE = 17%) and debt burden (as of June 30.06.2012, 2011, the ratio of debt to revenue and gross profit at the end of 0.6 was 1.2 and 2, respectively). In addition, the rating was positively influenced by the growth of assets (an increase of more than 31.12.2009 times over the period from 30.06.2012-XNUMX), high diversification of revenue by regions and high indicators of business activity. The agency's analysts also noted the acceptable level of the group's currency risks. “The financial performance of Obuv Rossii has been steadily improving for several years now. During the rating period, the group plans to launch a major investment project. If after the launch of the project, the positive trend continues, the rating may be increased. This is the reason for the positive outlook, "says Pavel Mitrofanov, Head of the Corporate and Investment Ratings Department of Expert RA.

The factors limiting the rating were the narrow specialization of the business in the pro-cyclical sector of the economy (retail trade in footwear and related products), the high level of competition in the footwear industry, as well as the group's increased exposure to credit risks in connection with the retail sale of footwear by installments. In addition, a high probability of large one-time payments during the rating period (26.12.2012 must pass an offer on group bonds) and a significant share of receivables in the structure of assets and current assets had a restraining effect on the rating level. Plans to increase the debt burden in connection with the implementation of the investment project also limit the level of assessment.

The Obuv Rossii group of companies is a federal network of shoe stores, founded in 2003, with its head office in Novosibirsk. It has more than 190 stores, including franchised ones, in 56 cities of Russia. As of June 30.06.2012, 3.32, the group's assets were at the level of 2012 billion rubles, the revenue in the first half of 1.04 amounted to XNUMX billion rubles.

The Expert RA rating agency has confirmed the credit rating of the Obuv Rossii group of companies at level A (high level of creditworthiness), with a positive outlook. ...
5
1
Rating

Latest News

Larroudé x Markarian's Red Patchwork Boots Were a Notable Event at New York Fashion Week

A highlight of New York Fashion Week, which ran from September 4 to 11, was the collaboration between Brazilian shoe brand Larroudé and New York women's clothing label Markarian. The hit of the collection were knee-high boots with an upper made using the…
13.09.2024 326

Camper launches advertising campaign in support of Pelotas model

Spanish footwear brand Camper is putting the spotlight on its iconic Pelotas sneaker this season with a campaign that includes a series of photographs by Spanish photographer Aitor Laspiura. The shots feature carefree…
12.09.2024 329

Milan's MICAM to showcase collections from thousands of footwear and accessory brands

The international exhibition of footwear and accessories MICAM will be held in Milan from September 15 to 17 at the Fiera Milano Rho exhibition center. The number of exhibiting brands is approaching a thousand, of which 475 are Italian and 457 are international, in…
12.09.2024 356

Golden Goose Reports Revenue Growth in First Half of Year

Italian luxury sneaker maker Golden Goose reported revenues of €2024 million in the first half of 307, up 12% year-on-year. The revenue growth was driven by strong…
11.09.2024 352

Haider Ackermann to Become New Creative Director of Tom Ford

Haider Ackermann will replace Peter Hockings as creative director of the fashion house Tom Ford. This means that Tom Ford has chosen Chanel as its creative director, jokes the editors of laconceria.it . - Karl Lagerfeld,…
10.09.2024 1378
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning