25 Oct 2017 14:38

Dixy swings to 469 mln rubes IFRS profit in Q3, sales decline slows

MOSCOW. Oct 25 (Interfax) - Dixy had net profit of 469 million rubles to International financial reporting Standards (IFRS) in Q3 2017, compared to losses of 1.59 billion rubles in the same period of 2016, the Russian retailer said in a statement.

Sales fell 8.3% year-on-year to 68.8 billion rubles, after plummeting 15.2% in Q2 2017.

EBITDA nearly tripled to 3.37 billion rubles in Q3, from 1.14 billion rubles a year previously. The EBITDA margin rose to 4.9% from 1.5%.

CAPEX fell 23.2% to 683 million rubles, mainly due to lower organic expansion as the company opened three stores (gross) in Q3 2017 compared to 18 (gross) in Q3 2016 and lower logistics CAPEX.

CEO Sergei Belyakov said on a conference call that CAPEX for the year would not exceed 5 billion rubles.