OJSC DIXY Group: DIXY GROUP ANNOUNCES UNAUDITED CONSOLIDATED IFRS RESULTS FOR THE FULL YEAR OF 2011
EquityStory.RS, LLC-News: OJSC DIXY Group / Key word(s): Statement
OJSC DIXY Group: DIXY GROUP ANNOUNCES UNAUDITED CONSOLIDATED IFRS
RESULTS FOR THE FULL YEAR OF 2011
15.05.2012 / 08:31
---------------------------------------------------------------------
DIXY Group (RTS, MICEX: DIXY) - one of Russia's leading retailers of foods
and everyday products - announces unaudited consolidated IFRS results for
the full year of 2011.
Key Results of the Full Year and the Fourth Quarter of 2011:
* During the full year of 2011, the combined Company opened 255 new stores,
having increased pro-forma selling space (including Victoria Group from the
beginning of 2010 and 2011) by 15% year-on-year, while DIXY Group standalone
selling space increased by 25% year-on-year.
* Consolidated Revenue for the fourth quarter 2011 increased by 87.8%
(87.5% in USD) year-on-year to RUR 34.0 bln (USD 1.1 bln). Consolidated
Revenue for the full year increased by 59.3% (64.6% in USD) to RUR 102.3bln
(USD 3.5 bln).
* Consolidated Gross Profit for the fourth quarter increased by 107.9%
(108.1% in USD) to RUR 9.7 bln (USD 318 mln), while Gross Margin increased
by 277 bp year-on-year to 28.6% of sales compared to 25.8% for the same
period of 2010. Consolidated Gross Profit for the full year increased by
79.3% (85.3% in USD) to RUR 27.7 bln (USD 944 mln), while respective Gross
Margin increased by 303 bp year-on-year to 27.1% of sales compared to 24.1%
for the same period of 2010.
* Consolidated EBITDA for the fourth quarter increased by 68.7% (68.3% in
USD) year-on-year to RUR to 2.2 bln (USD 73 mln), while EBITDA margin
decreased by 75 bp to the level of 6.6% of sales from 7.4% for the same
period of 2010. Consolidated EBITDA for the full year of 2011 increased by
78.5% (84.5% in USD) year-on-year to RUR 6.5 bln (USD 221 mln), while EBITDA
margin increased by 68 bp year-on-year to the level of 6.3% from 5.7% in the
same period of 2010.
* Consolidated Net Profit for the fourth quarter increased by 6.8% (4.4% in
USD) and amounted to RUR 315 mln (USD 10 mln). Net Margin decreased by 70 bp
to 0.9% of sales compared to 1.6% for the same period of 2010. Net Profit
for the full year increased by 327% (342% in USD) and amounted to RUR 1.1
bln (USD 37 mln), while Net Margin increased by 68 bp and amounted to 1.1%
of sales compared to 0.4% for the same period of 2010.
* Consolidated Net Cash from Operating Activities for the fourth quarter
increased by 167% (173% in USD) over the same period of 2010 to RUR 3.2 bln
(USD 109 mln). Net Cash from Operating Activities for the full year
increased by 164% (173% in USD) over the same period of 2010 to RUR 5.2 bln
(USD 178 mln).
New stores were opened in the Central, Northwest and Urals Federal Districts
through long-term lease agreements, except for twelve acquired stores (4
hypermarkets Megamart in the Urals, 7 neighborhood stores DIXY in the
Central Federal District and one sup[ermarket Victoria in the Northwest
Federal District). As of December 31, 2011, the Company operated 1,119
stores.
In the fourth quarter of 2011 the Company conducted a significant part of
the neighborhood stores Kvartal rebranding in the Northwest region, planned
for 2011, resulting in 19 stores rebrandings in the fourth quarter of 2011.
As of full year end all 37 Kvartal stores in the Northwest region were
successfully rebranded into DIXY format.
In the fourth quarter of 2011 DIXY Group continued to implement marketing
initiatives on optimization of assortment and floor space, improvement of
external and internal design of stores and their clearer positioning, as
well as on improvement of customer service and marketing communications (in
particular, in September the advertising campaign developed jointly by DIXY
and Saatch&Saatchi and launched in June 2011, was named best in the industry
at the retail chain competition held during 10th annual Retail Business
Russia 2011 international summit). These efforts have led to a 4.6% increase
in like-for-like sales for the core DIXY format, and to a 5.4% increase in
average ticket (with the highest ticket growth of 7.8% in the Urals Federal
District).
The efficiency of the promotional activities was made possible also by means
of increased levels of centralization of deliveries (rate of deliveries
through own distribution centers) and logistical service (success of
delivery rate) with DIXY format centralization rate at 85% in the fourth
quarter of 2011, and general logistics service level reaching 90% in
December 2011.
DIXY Group unaudited consolidated financial results, including Victoria
Group results from the date of acquisition on 15 June 2011
Full Year 2011 Year-on-year:
Revenue increased by 59.3% (64.6% in USD) to RUR 102.3 bln (USD 3.5 bln).
Cost of Sales as a percentage of Revenue decreased by 303 bp to 72.9%
compared to 75.9% for the same period of 2010.
Gross Profit increased by 79.3% (85.3% in USD) to RUR 27.7 bln (USD 944
mln). Gross Margin increased by 303 bp year-on-year to 27.1% of sales
compared to 24.1% for the same period of 2010.
EBITDA increased by 78.5% (84.5% in USD) to RUR 6.5 bln (USD 221 mln).
EBITDA margin increased by 68 bp year-on-year to the level of 6.3% from 5.7%
in the same period of 2010.
Net Profit increased by 327% (342% in USD) to RUR 1.1 bln (USD 37 mln),
while Net
Margin increased by 68 bp to 1.1% of sales compared to 0.4% for the same
period last year.
Net Cash from Operating Activities increased by 164% (173% in USD) over the
same period of 2010 to RUR 5.2 bln (USD 178 mln).
The detailed press-release can be found here:
http://dixy.ru/sites/default/files/news/dixy_group_ifrs_audit_4qfy2011_eng_
v5.pdf
End of Corporate News
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15.05.2012 Dissemination of a Corporate News, transmitted by
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The issuer is solely responsible for the content of this announcement.
EquityStory.RS, LLC's Distribution Services include Regulatory
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Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: OJSC DIXY Group
47A Bolshaya Ochakovskaya, build. 1
119361 Moscow
Russia
Phone: +7 495 933-14-50
Fax: +7 495 933-02-59
E-mail: info@dixy.ru
Internet: www.dixy.ru
End of News EquityStory.RS, LLC News-Service
---------------------------------------------------------------------
169889 15.05.2012
EquityStory.RS, LLC-News: OJSC DIXY Group / Key word(s): Statement
OJSC DIXY Group: DIXY GROUP ANNOUNCES UNAUDITED CONSOLIDATED IFRS
RESULTS FOR THE FULL YEAR OF 2011
15.05.2012 / 08:31
---------------------------------------------------------------------
DIXY Group (RTS, MICEX: DIXY) - one of Russia's leading retailers of foods
and everyday products - announces unaudited consolidated IFRS results for
the full year of 2011.
Key Results of the Full Year and the Fourth Quarter of 2011:
* During the full year of 2011, the combined Company opened 255 new stores,
having increased pro-forma selling space (including Victoria Group from the
beginning of 2010 and 2011) by 15% year-on-year, while DIXY Group standalone
selling space increased by 25% year-on-year.
* Consolidated Revenue for the fourth quarter 2011 increased by 87.8%
(87.5% in USD) year-on-year to RUR 34.0 bln (USD 1.1 bln). Consolidated
Revenue for the full year increased by 59.3% (64.6% in USD) to RUR 102.3bln
(USD 3.5 bln).
* Consolidated Gross Profit for the fourth quarter increased by 107.9%
(108.1% in USD) to RUR 9.7 bln (USD 318 mln), while Gross Margin increased
by 277 bp year-on-year to 28.6% of sales compared to 25.8% for the same
period of 2010. Consolidated Gross Profit for the full year increased by
79.3% (85.3% in USD) to RUR 27.7 bln (USD 944 mln), while respective Gross
Margin increased by 303 bp year-on-year to 27.1% of sales compared to 24.1%
for the same period of 2010.
* Consolidated EBITDA for the fourth quarter increased by 68.7% (68.3% in
USD) year-on-year to RUR to 2.2 bln (USD 73 mln), while EBITDA margin
decreased by 75 bp to the level of 6.6% of sales from 7.4% for the same
period of 2010. Consolidated EBITDA for the full year of 2011 increased by
78.5% (84.5% in USD) year-on-year to RUR 6.5 bln (USD 221 mln), while EBITDA
margin increased by 68 bp year-on-year to the level of 6.3% from 5.7% in the
same period of 2010.
* Consolidated Net Profit for the fourth quarter increased by 6.8% (4.4% in
USD) and amounted to RUR 315 mln (USD 10 mln). Net Margin decreased by 70 bp
to 0.9% of sales compared to 1.6% for the same period of 2010. Net Profit
for the full year increased by 327% (342% in USD) and amounted to RUR 1.1
bln (USD 37 mln), while Net Margin increased by 68 bp and amounted to 1.1%
of sales compared to 0.4% for the same period of 2010.
* Consolidated Net Cash from Operating Activities for the fourth quarter
increased by 167% (173% in USD) over the same period of 2010 to RUR 3.2 bln
(USD 109 mln). Net Cash from Operating Activities for the full year
increased by 164% (173% in USD) over the same period of 2010 to RUR 5.2 bln
(USD 178 mln).
New stores were opened in the Central, Northwest and Urals Federal Districts
through long-term lease agreements, except for twelve acquired stores (4
hypermarkets Megamart in the Urals, 7 neighborhood stores DIXY in the
Central Federal District and one sup[ermarket Victoria in the Northwest
Federal District). As of December 31, 2011, the Company operated 1,119
stores.
In the fourth quarter of 2011 the Company conducted a significant part of
the neighborhood stores Kvartal rebranding in the Northwest region, planned
for 2011, resulting in 19 stores rebrandings in the fourth quarter of 2011.
As of full year end all 37 Kvartal stores in the Northwest region were
successfully rebranded into DIXY format.
In the fourth quarter of 2011 DIXY Group continued to implement marketing
initiatives on optimization of assortment and floor space, improvement of
external and internal design of stores and their clearer positioning, as
well as on improvement of customer service and marketing communications (in
particular, in September the advertising campaign developed jointly by DIXY
and Saatch&Saatchi and launched in June 2011, was named best in the industry
at the retail chain competition held during 10th annual Retail Business
Russia 2011 international summit). These efforts have led to a 4.6% increase
in like-for-like sales for the core DIXY format, and to a 5.4% increase in
average ticket (with the highest ticket growth of 7.8% in the Urals Federal
District).
The efficiency of the promotional activities was made possible also by means
of increased levels of centralization of deliveries (rate of deliveries
through own distribution centers) and logistical service (success of
delivery rate) with DIXY format centralization rate at 85% in the fourth
quarter of 2011, and general logistics service level reaching 90% in
December 2011.
DIXY Group unaudited consolidated financial results, including Victoria
Group results from the date of acquisition on 15 June 2011
Full Year 2011 Year-on-year:
Revenue increased by 59.3% (64.6% in USD) to RUR 102.3 bln (USD 3.5 bln).
Cost of Sales as a percentage of Revenue decreased by 303 bp to 72.9%
compared to 75.9% for the same period of 2010.
Gross Profit increased by 79.3% (85.3% in USD) to RUR 27.7 bln (USD 944
mln). Gross Margin increased by 303 bp year-on-year to 27.1% of sales
compared to 24.1% for the same period of 2010.
EBITDA increased by 78.5% (84.5% in USD) to RUR 6.5 bln (USD 221 mln).
EBITDA margin increased by 68 bp year-on-year to the level of 6.3% from 5.7%
in the same period of 2010.
Net Profit increased by 327% (342% in USD) to RUR 1.1 bln (USD 37 mln),
while Net
Margin increased by 68 bp to 1.1% of sales compared to 0.4% for the same
period last year.
Net Cash from Operating Activities increased by 164% (173% in USD) over the
same period of 2010 to RUR 5.2 bln (USD 178 mln).
The detailed press-release can be found here:
http://dixy.ru/sites/default/files/news/dixy_group_ifrs_audit_4qfy2011_eng_
v5.pdf
End of Corporate News
---------------------------------------------------------------------
15.05.2012 Dissemination of a Corporate News, transmitted by
EquityStory.RS, LLC - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
EquityStory.RS, LLC's Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: OJSC DIXY Group
47A Bolshaya Ochakovskaya, build. 1
119361 Moscow
Russia
Phone: +7 495 933-14-50
Fax: +7 495 933-02-59
E-mail: info@dixy.ru
Internet: www.dixy.ru
End of News EquityStory.RS, LLC News-Service
---------------------------------------------------------------------
169889 15.05.2012