CenterObuv, the largest footwear retailer on the Russian market, presented the financial results of the year for the first time in its history. It is reported that the company's sales revenue for the year increased by 37% to $ 720 million.
CenterObuv's EBITDA margin in 2010 was 20-22%, and the ratio of net debt to EBITDA was about 1,25. Like-for-like sales of the company in 2010 increased by 24%. By the end of the year, CenterObuv sold 26 million pairs of shoes, and in 2011 this figure may grow to 35 million.
Let us remind you that in the fall of 2011, CenterObuv is planning 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, writes Vedomosti.
According to experts, TsentrObuv, which owns the largest chain of shoe stores in Russia, can be valued in the range of $ 1,5 to 3 billion. In the future, the company expects to go international and start working in the CIS, Baltic countries, Western Europe and China ...