9th Sep 2016 08:01
PJSC MAGNIT - August 2016 ResultsPJSC MAGNIT - August 2016 Results
PR Newswire
London, September 9
Press Release
Krasnodar
September 9, 2016
Magnit Announces 13.83% Retail Sales Growth in Rubles for August 2016[1]
Krasnodar, Russia (September 9, 2016): Magnit PJSC, one of Russia’s leading retailers (the “Company”; MOEX and LSE: MGNT), announces 13.83% retail sales growth in rubles for August 2016.
During August 2016 the Company opened (net) 220 stores. The total store base reached 13,241 stores (10,072 convenience stores, 231 hypermarkets, 176 “Magnit Family” stores and 2,762 drogerie stores).
Preliminary consolidated unaudited net retail revenue (excl. VAT) in 8M 2016 increased by 14.31% in ruble terms (compared to 8M 2015) and stood at 702,506.32 million rubles.
According to Rosstat, general inflation in August 2016 amounted to 0.0% compared to 0.4% in August 2015, in 8M 2016 it was 3.9% compared to 9.8% in 8M 2015.
Food inflation in August 2016 amounted to -0.6% (minus zero point six) compared to -0.7% (minus zero point seven) in August 2015, in 8M 2016 it was 2.6% compared to 9.8% in 8M 2015.
August and 8M 2016 Key Operating and Financial Highlights[2]:
| August 2016 | August 2015 | Growth Rate | 8? 2016 | 8? 2015 | Growth Rate | |
| Number of opened stores, NET | 220 | 231 | n/a | 1 152 | 1,459 | n/a |
| convenience stores | 117 | 129 | n/a | 478 | 783 | n/a |
| hypermarkets | 1 | 1 | n/a | 12 | 17 | n/a |
| magnit family | 2 | 7 | n/a | 21 | 25 | n/a |
| drogerie stores | 100 | 94 | n/a | 641 | 634 | n/a |
| Total number of stores | 13,241 | 11,170 | n/a | 13,241 | 11,170 | n/a |
| convenience stores | 10,072 | 9,127 | n/a | 10,072 | 9,127 | n/a |
| hypermarkets | 231 | 207 | n/a | 231 | 207 | n/a |
| magnit family | 176 | 122 | n/a | 176 | 122 | n/a |
| drogerie stores | 2,762 | 1,714 | n/a | 2,762 | 1,714 | n/a |
| Selling space, eop, th. sq. m. | 4,791.80 | 4,081.09 | 17.41% | 4,791.80 | 4,081.09 | 17.41% |
| convenience stores | 3,297.15 | 2,951.29 | 11.72% | 3,297.15 | 2,951.29 | 11.72% |
| hypermarkets | 665.46 | 603.12 | 10.34% | 665.46 | 603.12 | 10.34% |
| magnit family | 193.27 | 134.91 | 43.26% | 193.27 | 134.91 | 43.26% |
| drogerie stores | 635.92 | 391.77 | 62.32% | 635.92 | 391.77 | 62.32% |
| Selling space growth, th. sq. m. | 69.47 | 79.11 | n/a | 378.08 | 490.45 | n/a |
| convenience stores | 38.82 | 47.85 | n/a | 177.59 | 277.98 | n/a |
| hypermarkets | 3.72 | 2.59 | n/a | 26.32 | 44.03 | n/a |
| magnit family | 2.00 | 6.99 | n/a | 23.09 | 25.84 | n/a |
| drogerie stores | 24.93 | 21.68 | n/a | 151.08 | 142.60 | n/a |
| Net retail sales, million RUR | 90,131.43 | 79,181.71 | 13.83% | 702,506.32 | 614,549.68 | 14.31% |
| convenience stores | 66,528.33 | 58,274.92 | 14.16% | 520,377.20 | 457,194.22 | 13.82% |
| hypermarkets | 12,943.96 | 13,326.71 | (2.87)% | 105,447.90 | 106,505.27 | (0.99)% |
| magnit family | 4,801.13 | 3,721.70 | 29.00% | 37,286.10 | 27,805.36 | 34.10% |
| drogerie stores | 5,858.02 | 3,858.39 | 51.83% | 39,395.12 | 23,044.83 | 70.95% |
| Net retail sales, million US$ | 1,388.15 | 1,214.37 | 14.31% | 10,206.46 | 10,531.73 | (3.09)% |
| convenience stores | 1,024.63 | 893.73 | 14.65% | 7,560.37 | 7,835.08 | (3.51)% |
| hypermarkets | 199.35 | 204.38 | (2.46)% | 1,532.01 | 1,825.21 | (16.06)% |
| magnit family | 73.94 | 57.08 | 29.55% | 541.72 | 476.51 | 13.68% |
| drogerie stores | 90.22 | 59.17 | 52.47% | 572.36 | 394.93 | 44.93% |
For further information, please contact:
| Timothy Post | Head of Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 |
| Investor Relations Office | [email protected] Direct Line: +7-861-277-4562 Website: ir.magnit.com/ |
| Media Inquiries | Media Relations Department [email protected] |
Company description:
Public Joint Stock Company “Magnit” is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2016, Magnit operated 34 distribution centers and 12,888 stores (9,902 convenience, 398 hypermarkets and 2,588 drogerie stores) in 2,397 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2016, Magnit had revenues of RUB 522 billion and an EBITDA of RUB 52 billion. Magnit's local shares are traded on the Moscow Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.
[1] According to management accounts
[2] Based on the average exchange rate for August 2016 – 64.9293 RUB per 1 USD, August 2015 – 65.2041 RUB per 1 USD, 8M 2016 –68.8296 RUB per 1 USD, 8M 2015 – 58.3522 RUB per 1 USD
Related Shares:
MGNT.L