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26/08/2014
13:59
Detsky Mir cuts 6-month net loss 1.8 times

US GAAP net loss of JSC Detsky mir for H1 2014 decreased 1.8-fold to RUB 315 million from RUB 570 million the year before, according to the company's press release.

Revenue went up 26.8% to RUB 18.1 billion, OIBDA increased to RUB 699 million against a loss of RUB 159 million in H1 2013; OIBDA margin reached 3.9%.

Gross profit increased by 24.7% year-on-year to RUB 6.3 billion; gross margin was 34.9% (compared with 35.5% in H1 2013).

As of June 30, 2014, the company's net debt increased against June 30, 2013 reaching RUB 7.7 billion, the main reasons being the fundraising for stock buy-back purposes in July 2013.

Detsky Mir Group is the largest Russian seller of children's goods. Today, the group unites national retail chain Detsky Mir, luxury-center Yakimanka Children's Gallery and ELC (Early Learning Centre) store chain. As of June 30, 2014, the chain comprises 232 stores in Russia and Kazakhstan, ELC has 32 stores in Russia. The total floor space of the group's retail outlets is 328,000 square meters. The major shareholder of JSC Detsky mir is Sistema JSFC.

US GAAP net profit of Detsky Mir Group for 2013 grew 2.46-fold to $36.2 million from $14.7 million in 2012. Revenue increased by 27.2% to $1.13 billion from $888.4 million, GP by 23.8% to $436.7 million from $352.8 million. Adjusted EBITDA grew by 61.7% to $91.5 million from $56.6 million. Net debt as of December 31, 2013 was $154.7 million.

According to the DataCapital information retrieval system, RAS net profit of JSC Detsky mir for 2013 grew by 172.2% year-on-year to RUB 1.3 billion from RUB 482.3 million. Revenue went up 31.8% to RUB 38.382 billion from RUB 29.121 billion, OIBDA by 97.3% to RUB 3.298 billion from RUB 1.671 billion.

The company's net loss for Q1 2014 was RUB 435 million against a loss of RUB 595.1 million in the first quarter of 2013. Revenue grew by 35% to RUB 9.141 billion from RUB 6.76 billion.



"AK&M", 26.08.2014

 

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