OREANDA-NEWS. DIXY Group - one of Russia's leading retailers of foods and everyday products – today announced audited IFRS results for the fourth quarter and the full year of 2014.

Key highlights of the fourth quarter and the full year of 2014:
* In the full year of 2014, the Company opened 396 stores on net basis. As of December 31, 2014, the Company operated 2,195 stores in Central, North-West, Volga and Urals federal districts of Russia.
* Selling Space increased by 21% year-on-year to 746,509 sq. m as of December 31, 2014.
* Revenue increased by 31.0% (declined by 10.1% in USD) year-on-year to RUB 64.1 bln (USD 1.4 bln) in the fourth quarter of 2014, and grew by 26.9% (5.2% in USD) year-on-year to RUB 229.0 bln (USD 6.0 bln) for the full year 2014.
* Gross Profit grew by 24.4% (declined by 14.7% in USD) year-on-year to RUB 19.6 bln (USD 412.6 mln) in the fourth quarter of 2014, and grew by 25.5% (4.0% in USD) year-on-year to RUB 69.5 bln (USD 1.8 bln) for the full year 2014. Gross Margin decreased by 40 basis points year-on-year to 30.3% for the full year 2014.
* EBITDA grew by 27.9% (6.0% in USD) year-on-year to RUB 16.3 bln (USD 425.3 mln) for the full year 2014. EBITDA Margin remained flat year-on-year at 7.1% for the full year 2014.
* Operating Profit grew by 35.9% (12.7% in USD) year-on-year to RUB 10.3 bln (USD 267.4 mln) for the full year 2014. Operating Margin increased by 30 basis points year-on-year to 4.5% for the full year 2014.
* Net Profit grew by 47.0% (21.8% in USD) to RUB 4.5 bln (USD 116.9 mln) for the full year 2014. Net Profit Margin grew by 30 basis points year-on-year to 2.0% for the full year 2014.

In the fourth quarter of 2014, DIXY continued ticket and traffic driving promotional activity in its stores.

The Company demonstrated 14.6% like-for-like sales growth on Group level, and record 17.0% like-for-like sales growth for DIXY banner in the fourth quarter of 2014.

The Company improved further the centralization level (deliveries through own distribution centers) for its DIXY neighborhood stores to 91% in the fourth quarter of 2014. The logistic service level (success of deliveries ratio) stoodat 88% in the fourth quarter of 2014.

The Company refinanced its debt portfolio in December 2014, and has changed the interest rate from floating to fixed.

The Company also accomplished the major part of legal and corporate restructuring program, and brought the effective tax rate below 25% in the full year of 2014.