Obuv Rossii has summed up the financial results of the first half of the year. The company's net revenue during this period exceeded 700 million rubles, an increase compared to the same period of the 2010 year amounted to 8%. The company's net profit is 43 million rubles, an increase compared to the first half of 2010 of the year - 57,23%. EBITDA margin - 13,35%.
In the first half of the 2011 of the year, Obuv Rossii opened 25 of Westfalika stores and entered new regions such as Kazan, Izhevsk, St. Petersburg, Moscow Region, Kurgan, Kirov, Nizhny Novgorod, Vladivostok. The increase in the number of stores compared to the same period of the 2010 year was 27%.
At July 1 of 2011, the network consisted of 133 stores in 43 cities of Russia. Since 2010 of the year, “Shoes of Russia” has been actively developing the direction of related products. According to the results of the first half of 2011, the growth in sales of related products (leather goods, bags, shoe care products, hosiery) amounted to 150%. Now the share of sales of the “bundle” in the total retail turnover of the network is 7%.
In the first half of the year, the company worked under the installment plan and consumer lending. Installment sales and credit for the six months of the 2011 year amounted to 157 million rubles, 39 thousand contracts were concluded. Since the start of the “Installment Shoes” program (August 2009 of the year), 90 thousand of customers have used this service in stores of the Shoe of Russia network.
The company continued to operate in the open capital market. At the end of June, Obuv Rossii successfully placed a bond loan in the amount of 700 million rubles. The company directed the raised funds to finance the network development program until 2015.
Obuv Rossii Group of Companies is a federal shoe retail company, one of the ten largest shoe retailers in Russia. It develops two networks - Westfalika (single brand, mid-price segment) and Pedestrian (economy network), as well as the brand of inexpensive youth shoes Emilia Estra. Today, 143 store companies operate in 46 cities throughout Russia. The net revenue of Shoe of Russia in 2010 amounted to 1,6 billion rubles. The credit rating of Expert RA is B ++. Obuv Rossii became the laureate of the “Company of the Year-2010” award (organized by RBC) in the nomination “For Contribution to the Development of the Retail Market”.