O`KEY GROUP REPORTS BUSINESS RESULTS FOR Q3 2024 | 06.11.24

Press release

November 6, 2024

O`KEY GROUP REPORTS OPERATING RESULTS FOR THE THIRD QUARTER 2024

O`KEY Group SA (AIX, MOEX: OKEY, the “Group” or the “Company”), one of Russia’s leading food retailers, has announced its unaudited operating results for the third quarter (Q3) and nine months (9M) . from 2024.

All materials published by the Group are available on its website at www.okeygroup.lu.

Q3 2024 Operational Highlights

• Net retail sales of the group(1) rose 4.4% year-on-year to RUB 51.0 billion, mainly driven by LFL sales growth from both O’KEY hypermarkets and DA! discounters.
• Net retail sales of O`KEY hypermarkets grew by 1.0% year-on-year to RUB 33.3 billion thanks to a 1.0% increase in LFL revenues.
• DA! Discounters’ net retail sales rose 11.5% year-on-year to RUB 17.7 billion, led by a 7.8% increase in LFL revenues and retail space growth.
• DA! The share of discounters in the Group’s net retail turnover was 34.7%.

9M 2024 Operational Highlights(2)

• The Group’s net retail sales increased by 5.6% year-on-year to RUB 155.6 billion.
• O`KEY Net retail turnover of hypermarkets increased by 1.6% Annualized up to RUB 102.7 billion, led by a 2.1% increase in LFL revenues.
• DA! Discounters’ net retail sales grew 14.3% year-on-year to RUB 52.9 billion, driven by 7.2% comparable sales growth and the expansion of the chain.

Key events in the third quarter 2024

• In August, the Group completed the process of changing the custodian for the Global Depositary Receipts (GDR) programs and appointed RCS Group as the new custodian with effect from August 12, 2024.

The full text of the announcements is available at https://www.okeygroup.lu/press-center/press-releases/2024/1917/

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Company overview

Net retail turnover of the Group in Q3 and 9M 2024

Net retail turnover, RUB million (excl. VAT)	Q3 2024	Q3 2023	YY, %	9M 2024	9M 2023	YY, %
O`KEY group	51,009	48,849	4.4%	155,576	147,312	5.6%
O`MAIN hypermarkets	33,287	32,960	1.0%	102,670	101,013	1.6%
DA! discounters	17,722	15,889	11.5%	52,907	46,298	14.3%

Group net retail sales, monthly dynamics in Q3 2024

	July	August	September	Q3 2024	9M 2024
Net retail sales, % annualized
O’KEY Group	4.9%	5.0%	3.3%	4.4%	5.6%
O’KEY hypermarkets	0.2%	2.3%	0.4%	1.0%	1.6%
DA! discounters	14.3%	10.7%	9.4%	11.5%	14.3%
Customer traffic, % annualized
O’KEY Group	1.9%	(2.5%)	(1.6%)	(0.7%)	(0.2%)
O’KEY hypermarkets	(3.6%)	(5.2%)	(4.3%)	(4.4%)	(4.7%)
DA! discounters	8.3%	0.7%	1.4%	3.4%	5.3%
Average ticket, % annualized
O’KEY Group	2.9%	7.7%	5.0%	5.2%	5.8%
O’KEY hypermarkets	3.9%	7.9%	4.9%	5.6%	6.7%
DA! discounters	5.5%	9.9%	8.0%	7.8%	8.5%

Group like-for-like net retail sales performance in Q3 and 9M 2024

Net retail sales at LFL, %	Q3 2024 vs Q3 2023			9M 2024 vs. 9M 2023
	Net retail sales	Traffic	Average ticket	Net retail sales	Traffic	Average ticket
O’KEY Group	3.2%	(2.5%)	5.8%	3.7%	(3.0%)	6.9%
O’KEY hypermarkets	1.0%	(4.4%)	5.6%	2.1%	(4.4%)	6.8%
DA! discounters	7.8%	(0.4%)	8.2%	7.2%	(1.2%)	8.5%

Note: Q3 The LFL statistics for 2024 are calculated based on 77 O`KEY and 210 DA! shops.

Group stores and sales space in 9M 2024

Shops and sales area	9M 2024	9M 2023	Net change	Change, %
Number of stores, EoP	296	296	–	–
O`MAIN hypermarkets	77	77	–	–
DA! discounters	219	219	–	–
Total sales area (m²), EoP	659,973	663,419	(3,446)	(0.5%)
O`MAIN hypermarkets	512,329	515,893	(3,564)	(0.7%)
DA! discounters	147,644	147,526	118	0.1%

From 30 As of September 2024, the Group operated 77 O`KEY hypermarkets and 219 DA! discounters with a total sales area of ​​659,973 square meters M.

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ABOUT O`KEY GROUP

O`KEY Group SA (AIX, MOEX: OKEY) is one of the leading supermarkets in Russia, operating hypermarkets under the O`KEY brand and discounters under the DA! brand.

From 30 In September 2024, the Group had 296 stores throughout Russia (77 hypermarkets and 219 discounters) with a total sales area of ​​659,973 square meters M. O`KEY opened his first hypermarket in St Petersburg in 2002 and has shown continued growth since then. It was the first Russian food retailer to launch e-commerce operations with a full range of hypermarket products for home delivery. The Group operates e-commerce pick-up and drop-off points in 72 O’KEY hypermarkets nationwide. In 2015 we launched the first discount chain in Russia under the DA! brand. The Group operates five distribution centers in Russia – three in Moscow and two in St Petersburg – and employs 19,200 people people.

In 2023, the Group’s revenues amounted to RUB 207.9 billion, and EBITDA reached RUB 17.0 billion.

The shareholder structure of O`KEY Group is as follows: NISEMAX Co Ltd – 49.11%. G.S.U Ltd – 34.14%, free float and other holders – 16.75%.

INDEMNIFICATION

These materials contain statements about future events and expectations that are forward-looking statements. These statements usually contain words such as ‘expects’ and ‘anticipates’ and words of similar meaning. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements performance expressed or implied by such forward-looking statements.

None of the future projections, expectations, estimates or prospects contained in this announcement should be construed as predictions or promises, nor should they be construed as any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects are based will prepared are correct or complete or, in the case of the assumptions, fully stated in this announcement. We assume no obligation to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.