Business description
Comfy is a leading Ukrainian retailer in the electronics and household appliances segment with a turnover of over UAH 19 billion per year.
According to Forbes the closest competitor, Foxtrot, fell behind by half a billion hryvnia at the end of 2019.
The Comfy brand emerged in 2005 as a result of the rebranding of the Domotechnika retail chain. In 2007, there was a merger with the Byttekhnika company, as a result, Comfy became one of the three leaders among household appliances and electronics retailers in Ukraine.
During the crisis years of 2008-2009, when many retailers were forced to slow down the pace of development or even leave the market, the Comfy chain became the most dynamic in terms of development - growth in the number of stores in 2 years made almost 65%.
Since then, the company has established itself as one of the most efficient on the market. Comfy very quickly adapts to changes in the market situation, adjusting both the number of stores and its inventory policy.
Comfy key financials according to the official statements of its main operating company are presented below. But here we especially note one of the indicators - Inventory Period, which during several last years made 35-40 days - at the level of grocery retail chains. But of course, electronics and household appliances can hardly be classified as essential goods (as opposed to food). In our opinion, this parameter is one of the keys to Comfy's success.
The owners of the chain are Stanislav Ronis (70%) and Svetlana Gutsul (30%).
The dynamics of the chain stores number is presented in the following chart:
The main operating company of the group at the moment is Comfy-Trade LLC. The company's revenues dynamics in recent years look as follows:
Key financials of Comfy-Trade which is main operating entity of the group:
UAH mn
2016
2017
2018
2019
2020
Revenues (VAT excl)
6 050
9 150
12 150
13 650
16 171
EBITDA
152
172
83
267
310
EBITDA margin, %
2.5%
1.9%
0.7%
2.0%
1.9%
Net Income
42
60
-13
14
81
Average Inventory Period, days
35-40
