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O'KEY Group S.A. (OKEY)

28-Oct-2021 / 08:45 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

Press release
28 October 2021




O'KEY Group S.A. (LSE, 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 the first nine months (9M) of 2021.

All materials published by the Group are available at


Q3 2021 operating highlights

  • Group net retail revenue[1] grew by 10.1% YoY to RUB 43,451 mln.
  • The Group like-for-like (LFL) net retail revenue increased by 6.6% YoY, driven by both hypermarkets' and discounters' performance.
  • O'KEY hypermarkets' net retail revenue rose by 4.6% YoY to RUB 34,777 mln, led mainly by a 3.8% YoY LFL revenue growth.
  • DA! discounters' net retail revenue showed a 40.0% YoY increase to RUB 8,673 mln, driven by a 21.6% LFL revenue growth and a 21.4% YoY selling space expansion.
  • DA! discounters' share in the Group's revenue rose by 4.3 pps YoY to 20.0%.
  • Total online sales showed a 139.8% YoY growth to RUB 1,096 mln and reached 3.2% of O'KEY's revenue.


9M 2021 operating highlights

  • Group net retail revenue increased by 5.9% YoY to RUB 131,149 mln.
  • O'KEY hypermarkets' net retail revenue grew by 1.8% YoY to RUB 106,839 mln.
  • DA! discounters' net retail revenue rose by 29.2% YoY to RUB 24,310 mln.
  • Total online sales grew by 90.3% YoY to RUB 3,190 mln and accounted for 3.0% of O'KEY's revenue.


Armin Burger, Chief Executive Officer at O'KEY Group, commented:

"The Group reported strong operational results in both the hypermarket and discounter businesses in Q3 2021. O'KEY hypermarkets showed a 3.8% like-for-like revenue growth in Q3 2021, a speed-up compared to the Q2 2021 results. We are very pleased with the O'KEY performance, especially given the challenging comparable period of Q3 2020 that saw the easing of the pandemic-related lockdown and start of recovery in customer traffic. O'KEY continuously works to enhance its competitive edge and boost the efficiency of selling space use. We also keep redesigning our hypermarkets and are going to reopen under the new concept two stores in St Petersburg, as well as relaunch a newly acquired hypermarket in Moscow in Q4 2021.

"DA! discounters also demonstrated accelerated growth compared to Q2 2021 and delivered an impressive 40.0% YoY revenue increase, with 21.6% LFL performance in Q3 2021. Remarkably, DA! achieved these results on top of the chain's 45.7% YoY revenue growth and 26.8% LFL growth in the comparable Q3 2020. DA! continues to be one of the fastest-growing grocery retailers in the country. The share of DA! in the Group's revenue reached 20% in Q3 2021. As we communicated earlier, we plan to open 35-40 discounters this year and speed up our expansion starting next year. We expect the discounters' share in the Group's revenue to reach up to 50% in the medium term.

"In Q3 2021, the Group's total online sales more than doubled YoY to account for 3.2% of O'KEY's revenue.

"We confirm our previously announced guidance for 2021, expecting a low-single-digit LFL growth at O'KEY hypermarkets and a double-digit LFL growth at DA! discounters."


Operating review

Group Net Retail Revenue in Q3 and 9M 2021

Net Retail Revenue, RUB mln (excl. VAT)

Q3 2021

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