O'Key Group S.A. Reports Unaudited Sales Results for the First Quarter of 2018; Provides Earnings Guidance for the Year 2018
The company expects net retail revenue generated by hypermarkets business (excluding the supermarkets business) to grow by low single digits in 2018, with new stores openings limited to two. The company anticipates the EBITDA margin will be within a range of 7-8% in 2018-2020. The company forecasts net retail revenue generated by discounters business to grow by approximately 50% year over year in 2018, driven by the opening of up to 30 new stores and improved sales density. EBITDA loss is expected to decline by up to 50% year over year.