“We’ve coped well with the challenging pandemic years.
In 2020 we not only maintained our growth trajectory but also started our transformation from a mono-brand company into a platform for innovative restaurant brands. Our next target is to strengthen Dodo’s footing in Russia, expand the chain in Europe and Asia, and start scaling new concepts.”
MONTHLY TRADING UPDATE: December 2021
Our monthly trading update provides an overview of our chain’s performance over the past month. Here we highlight actual system sales, the chain growth pipeline, store count, like-for-likes, and startup results.
net new stores
771 stores in total
billion rubles system sales
in Russia, Kazakhstan,
in other markets
QUARTERLY RESULTS: 2021/Q3
In 2020, we started to issue quarterly consolidated financial statements in accordance with IFRS. This kind of reporting helps us track results promptly within a single framework. We don’t audit reports for interim dates.
Our first consolidated IFRS statements got off the ground in 2019 for the year 2018. Since then, we’ve been drawing up annual financial statements audited by Ernst & Young. Find all the reports below.
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Companies usually try not to announce their IPO plans until the last possible moment, because this process involves a lot of risk. That’s why IPO preparations are traditionally conducted somewhat secretively. However, being secretive is far from the Dodo spirit. That’s precisely why we talk about our plans openly. We publicly set extremely ambitious business goals for ourselves. By 2024, we expect our main region of interest, Eurasia, to almost triple its sales. International markets will move on to the scaling phase and generate more than 10% of the company’s revenue. Two new concepts, Drinkit and Doner 42, will also have to begin scaling and each surpass the one hundred shops mark. We believe that by 2024 our company will become a worthy candidate for the capital markets. Both in Russia and overseas, in pizza, and in other concepts.
A Russian IPO traditionally has three options: the stock exchange in
Moscow, London, or New York. Technically, the stock exchanges aren’t
mutually exclusive. There is a high probability that the Moscow
stock exchange will be one of the platforms that we’ll trade on.
Right now, it is one of the most dynamically developing platforms in
the world. Besides, we’re a Russian company, and we’re well known
among Russian investors. Therefore, it seems obvious for us to
choose the Moscow stock exchange as one of our platforms.
Will there be any other international platform? It’s a little too early to say. It’ll depend on the size of the issuance. The latest Russian companies to make an IPO, Ozon and Fix Price, are companies with enormous capitalization, around $10 billion, give or take. Even if everything goes perfectly, by 2024 we’re still going to be much smaller compared to these giants. That’s why we have to plan our stock issue correctly, so that the stocks are saleable enough on the platforms we go to, and, therefore, a fair assessment of our company can be made.
We’re not planning to pay dividends in the foreseeable future. We
consider it more prudent to reinvest funds into business growth.
It’s more profitable for our shareholders than quick dividends would
Perhaps at some point, we’ll be able to grow as well as pay dividends — we are going to see and act in accordance with shareholders’ best interests. For the past 3 years, we’ve offered audited financial reports and will continue to do so.