The TsentrObuv company, the largest shoe retailer in the Russian market, for the first time in its history presented the financial results of the year. It is reported that the company's sales revenue for the year increased by 37% and amounted to $ 720 million.
CenterObuv's EBITDA margin in 2010 was 20 − 22%, and the net debt to EBITDA ratio was around 1,25. Comparable company sales in 2010 year increased by 24%. According to the results of the year, TsentrObuv sold 26 million pairs of shoes, and in 2011 this figure may grow to 35 million.
Recall that in the fall of 2011 of the year, TsentrObuv plans an initial placement in London or Hong Kong. Among the possible organizers of the IPO are Renaissance Capital, VTB Capital, Morgan Stanley and Bank of China, Vedomosti writes.
According to experts, TsentrObuv, which owns the largest network of shoe stores in Russia, can be valued in the range of $ 1,5 to 3 billion. In the future, the company expects to enter the international level and begin working in the CIS, the Baltic countries, Western Europe and China.