The revenue of Detsky Mir Group in the first quarter of 2018 amounted to 24 billion rubles
Detsky Mir Group reported on the results of operations in the first quarter of 2018.
The group's consolidated unaudited revenue in the reporting period increased by 14% to RUB 24,0 billion. compared to 21,1 billion rubles. in the first quarter of 2017. Including the volume of revenue of the online store increased by 64,9% to 1,5 billion rubles. compared to the same period last year.
At the same time, like-for-like sales of the Detsky Mir chain of stores in Russia increased by 5,1% (the number of receipts increased by 8,8%; the average check decreased by 3,4%).
Gross profit increased by 10% to 7,1 billion rubles. Compared to the profit received in the 1 quarter of 2017, the gross margin amounted to 29,6%.
Adjusted EBITDA increased by 30,0% to RUB 1,4 billion. compared to 1,1 billion rubles. in 1Q 2017, Adjusted EBITDA margin increased to 6,0%. EBITDA indicator[amounted to 1,3 billion rubles (+ 56,5% year-on-year).
Adjusted profit in the reporting period grew more than three times to 0,5 billion rubles. compared with the first quarter of 2017. Profit for the period without adjustments amounted to 0,3 billion rubles. Net debt / adjusted EBITDA LTM decreased to 1,5x compared to 1,9x at the end of March 2017.
According to Vladimir Chirakhov, Director General of Detsky Mir PJSC, management policy to reduce transaction costs helps to maintain high operational efficiency of the business and increase its margin. “According to the results of the first quarter, the share of rental expenses from revenue decreased by 1,3 pp year-on-year. The company's management continues to implement the best practices in the field of IT and personnel management, optimizing the staffing of the retail network. As a result, administrative and other operating expenses as a percentage of revenue decreased by 1,9 pp year-on-year, increasing adjusted EBITDA by 30% year-on-year.
The company continues to focus on optimizing its debt burden, ensuring continuity of financing of operating activities on the best market conditions with a high level of diversification of the loan portfolio. The weighted average cost of debt capital fell to 9,5% at the end of the reporting period, which contributed to a threefold increase in adjusted net profit relative to the first quarter of last year, ”he commented.
Detsky Mir Group reported on the results of operations in the first quarter of 2018.
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