Dixy might open over 300 stores in 2012, expects sales revenue to go up 20%-25%
MOSCOW. Dec 7 (Interfax) - Russian retailer OJSC Dixy Group plans to open 250-300 same-named stores in 2012, as well as five Minimart supermarkets, five Megamart hypermarkets and around five Victoria supermarkets, the company's president, Ilya Yakubson, said during a conference call on Wednesday.
Over 200 new stores will be opened this year, Yakubson said.
This only concerns new retail outlets, excluding Kvartal stores, which the company is rebranding as Dixy stores.
The company's capex for 2011 are planned for 10 billion rubles. Capex in 2012 is planned around the same level (9 billion-10 billion rubles).
In addition to expenditures for new store openings, 2011 invested 1.3 billion rubles in the construction of a new distribution center, which will be opened in the Moscow region in July-August of next year.
Dixy will continue to finance new construction in 2012. In addition, around 1 billion rubles will go to integrating Victoria chain stores (including Kvartal discounters) while 1.5 billion rubles will go to purchasing new trucks.
According to Dixy management's forecast, the increase for sales revenue in 2012 will come to 20%-25%.
The company also has confirmed a previous EBITDA forecast at 6.1%-6.2% for 2011.
The EBITDA margin trend for 2012 will depend on how fast the chain expands, Yakubson. If the company opens around 250 new stores this figure will hold at 2011's level. However, if more stores are opened the EBITDA margin might come to under 6%.
Dixy manages the same-named chain of neighborhood stores, as well as the Megamart hypermarket and Minimart supermarket chains in the Urals. Victoria Group unifies the Deshevo and Kvartal discounter chains, as well as the Victoria supermarket chain.
Dixy closed its acquisition of the Victoria Group in June, paying for the retailer in funds and its own shares.
As of November 30, the unified company had around 1,050 stores under its management.
Dixy has opened 154 stores since the start of the year. An additional 50 or so should be opened by year's end (excluding Kvartal stores, which will be rebranded as Dixy). Therefore, the organic development of the chain is now faster that the planned rate of expansion. At the start of the year, Yakubson said that Dixy planned to open at least 150 retail outlets. At the start of last month, a company spokesperson told Interfax around 50 stores would be opened in November and December (at that moment 132 new stores had been opened).
