10th Mar 2016 07:00
PJSC MAGNIT - February 2016 ResultsPJSC MAGNIT - February 2016 Results
PR Newswire
London, March 10
Press-release
Krasnodar
March 10, 2016
PJSC “Magnit” Announces 19.46% Retail Sales Growth in Rubles for February 2016[1]
Krasnodar, March 10, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces 19.46% retail sales growth in rubles for February 2016.
During February 2016 the Company opened (net) 149 stores. The total store base reached 12,302 stores (9,663 convenience stores, 223 hypermarkets, 156 “Magnit Family” stores and 2,260 drogerie stores).
Preliminary consolidated unaudited net retail revenue (excl. VAT) in 2M 2016 increased by 17.28% in ruble terms (compared to 2M 2015) and stood at 164,470.72 million rubles.
According to Rosstat, general inflation in February 2016 amounted to 0.6% compared to 2.2% in February 2015, in 2M 2016 1.6% compared to 6.2% in 2M 2015.
Food inflation in February 2016 amounted to 0.7% compared to 3.3% in February 2015, in 2M 2016 1.9% compared to 9.1% in 2M 2015.
February and 2M 2016 Key Operating and Financial Highlights[2]:
| February 2016 | February 2015 | Growth Rate | 2? 2016 | 2? 2015 | Growth Rate | |
| Number of opened stores, NET | 149 | 145 | n/a | 213 | 222 | n/a |
| convenience stores | 57 | 91 | n/a | 69 | 135 | n/a |
| hypermarkets | 4 | 3 | n/a | 4 | 3 | n/a |
| magnit family | 2 | 1 | n/a | 1 | 1 | n/a |
| drogerie stores | 86 | 50 | n/a | 139 | 83 | n/a |
| Total number of stores | 12,302 | 9,933 | n/a | 12,302 | 9,933 | n/a |
| convenience stores | 9,663 | 8,479 | n/a | 9,663 | 8,479 | n/a |
| hypermarkets | 223 | 193 | n/a | 223 | 193 | n/a |
| magnit family | 156 | 98 | n/a | 156 | 98 | n/a |
| drogerie stores | 2,260 | 1,163 | n/a | 2,260 | 1,163 | n/a |
| Selling space, eop, th. sq. m. | 4,484.81 | 3,667.17 | 22.30% | 4,484.81 | 3,667.17 | 22.30% |
| convenience stores | 3,143.96 | 2,719.42 | 15.61% | 3,143.96 | 2,719.42 | 15.61% |
| hypermarkets | 652.47 | 570.51 | 14.37% | 652.47 | 570.51 | 14.37% |
| magnit family | 171.16 | 109.86 | 55.79% | 171.16 | 109.86 | 55.79% |
| drogerie stores | 517.23 | 267.38 | 93.45% | 517.23 | 267.38 | 93.45% |
| Selling space growth, th. sq. m. | 54.39 | 55.21 | n/a | 71.09 | 76.53 | n/a |
| convenience stores | 19.30 | 32.03 | n/a | 24.40 | 46.11 | n/a |
| hypermarkets | 13.33 | 11.42 | n/a | 13.33 | 11.42 | n/a |
| magnit family | 1.90 | 0.79 | n/a | 0.98 | 0.79 | n/a |
| drogerie stores | 19.87 | 10.97 | n/a | 32.39 | 18.21 | n/a |
| Net retail sales, million RUR | 84,002.48 | 70,318.28 | 19.46% | 164,470.72 | 140,237.04 | 17.28% |
| convenience stores | 61,641.01 | 52,224.67 | 18.03% | 121,142.41 | 104,767.88 | 15.63% |
| hypermarkets | 13,044.46 | 12,496.17 | 4.39% | 25,594.01 | 24,715.07 | 3.56% |
| magnit family | 4,508.85 | 3,116.23 | 44.69% | 8,779.50 | 6,151.75 | 42.72% |
| drogerie stores | 4,808.16 | 2,481.21 | 93.78% | 8,954.80 | 4,602.34 | 94.57% |
| Net retail sales, million US$[3] | 1,087.70 | 1,087.12 | 0.05% | 2,142.77 | 2,218.62 | (3.42)% |
| convenience stores | 798.15 | 807.39 | (1.14)% | 1,578.28 | 1,657.48 | (4.78)% |
| hypermarkets | 168.90 | 193.19 | (12.57)% | 333.45 | 391.01 | (14.72)% |
| magnit family | 58.38 | 48.18 | 21.18% | 114.38 | 97.32 | 17.53% |
| drogerie stores | 62.26 | 38.36 | 62.30% | 116.67 | 72.81 | 60.23% |
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:
Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2015, Magnit operated 33 distribution centers and 12,089 stores (9,594 convenience, 374 hypermarkets, and 2,121 drogerie stores) in 2,361 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 2015, Magnit had revenues of RUB 951 billion and an EBITDA of RUB 104 billion. Magnit's local shares are traded on the Moscow Stock 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] Please note that 2016 is a leap year and thus, February 2016 had 29 days (i.e. one extra day). In order to fairly compare it with February 2015 (a normal month with 28 days) the amount of 3.81% should be subtracted from the sales growth in February 2016, which would equal 15.65%.
[3] Based on the average exchange rate for February 2016 – 77.2298 RUB per 1 USD, February 2015 – 64.6833 RUB per 1 USD, 2M 2016 – 76.7560 RUB per 1 USD, 2M 2015 – 63.2090 RUB per 1 USD
Related Shares:
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