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PJSC “OR”. IFRS for 2020

OR Group (before the rebranding of Obuv Rossii Group of Companies) on Monday published its consolidated results for 2020

Main factors:
⁃ Net profit for the year amounted to 563 million rubles
⁃ EBITDA for the year decreased by 35.8% to 2.3 billion rubles, while the EBITDA margin in the second half of the year increased to 27.5%
⁃ Revenue decreased by 21.4% to 10.7 billion rubles. At the same time, in the second half of the year, revenue decreased by 18% compared to the same period in 2019, that is, the decline slowed down
⁃ In 2020, the debt grew by 5%, to 13 billion rubles
⁃ Net debt / EBITDA increased to 5.47x from 3.27x a year earlier. The growth was mainly due to a decrease in EBITDA
⁃ In the second half of the year, the growth of inventories began to be funded not by debt, but by accounts payable, which is free for the issuer. It grew from 0.6 billion to 2.6 billion rubles
⁃ Microfinance revenue grew by 27% to RUB 2.7 billion
⁃ At the end of 2020, the Group had 434 million rubles of cash in its accounts, as well as 1.96 billion rubles of free limbs in banks. In January 2021, the Group attracted a bond loan for 1.5 billion rubles in order to increase the cash cushion before etchings for issues 001Р-01, 001Р-02 and BO-07

OR Group management will hold a video conference with investors on the results of 2020 on April 2 at 12:00 Moscow time. Information about the conference is here: https://t.me/martynovtim/343

/ Bonds and shares of OR Group are included in PRObonds portfolios for 11% of assets /

TELEGRAM t.me/probonds
YOUTUBE https://www.youtube.com/c/PRObonds


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