9th Sep 2015 08:03
PJSC MAGNIT - Magnit August/8M 2015 ResultsPJSC MAGNIT - Magnit August/8M 2015 Results
PR Newswire
London, September 9
Press-release
Krasnodar
September 9, 2015
PJSC “Magnit” Announces 20.76% Retail Sales Growth in Rubles for August 2015[1]
Krasnodar, September 9, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces 20.76% retail sales growth in rubles for August 2015.
During August 2015 the Company opened (net) 231 stores. The total store base reached 11,170 stores (9,127 convenience stores, 207 hypermarkets, 122 “Magnit Family” stores and 1,714 drogerie stores).
Preliminary consolidated unaudited net retail revenue (excl. VAT) in 8M 2015 increased by 27.98% in ruble terms (compared to 8M 2014) and stood at 614,549.68 million rubles.
According to Rosstat, general inflation in August 2015 amounted to 0.4% compared to 0.2% in August 2014, in 8M2015 9.8% compared to 5.6% in 8M2014.
Food inflation in August 2015 amounted to -0.7% (minus zero point seven) compared to -0.3% (minus zero point three) in August 2014, in 8M2015 9.8% compared to 7.3% in 8M2014.
August and 8M 2015 Key Operating and Financial Highlights:
| August 2015 | August 2014 | Growth Rate | 8M 2015 | 8M 2014 | Growth Rate | |
| Number of opened stores, NET | 231 | 166 | n/a | 1,459 | 806 | n/a |
| convenience stores | 129 | 126 | n/a | 783 | 612 | n/a |
| hypermarkets | 1 | 2 | n/a | 17 | 11 | n/a |
| magnit family | 7 | 1 | n/a | 25 | 16 | n/a |
| drogerie stores | 94 | 37 | n/a | 634 | 167 | n/a |
| Total number of stores | 11,170 | 8,899 | n/a | 11,170 | 8,899 | n/a |
| convenience stores | 9,127 | 7,812 | n/a | 9,127 | 7,812 | n/a |
| hypermarkets | 207 | 172 | n/a | 207 | 172 | n/a |
| magnit family | 122 | 62 | n/a | 122 | 62 | n/a |
| drogerie stores | 1,714 | 853 | n/a | 1,714 | 853 | n/a |
| Selling space, eop, th. sq. m. | 4,081.09 | 3,278.12 | 24.49% | 4,081.09 | 3,278.12 | 24.49% |
| convenience stores | 2,951.29 | 2,494.66 | 18.30% | 2,951.29 | 2,494.66 | 18.30% |
| hypermarkets | 603.12 | 512.23 | 17.74% | 603.12 | 512.23 | 17.74% |
| magnit family | 134.91 | 71.71 | 88.14% | 134.91 | 71.71 | 88.14% |
| drogerie stores | 391.77 | 199.51 | 96.36% | 391.77 | 199.51 | 96.36% |
| Selling space growth, th. sq.m. | 79.11 | 50.72 | n/a | 490.45 | 266.74 | n/a |
| convenience stores | 47.85 | 37.80 | n/a | 277.98 | 182.46 | n/a |
| hypermarkets | 2.59 | 4.27 | n/a | 44.03 | 29.35 | n/a |
| magnit family | 6.99 | 0.92 | n/a | 25.84 | 18.45 | n/a |
| drogerie stores | 21.68 | 7.73 | n/a | 142.60 | 36.47 | n/a |
| Net retail sales, million RUR | 79,181.71 | 65,569.62 | 20.76% | 614,549.68 | 480,181.89 | 27.98% |
| convenience stores | 58,274.92 | 49,790.82 | 17.04% | 457,194.22 | 366,932.88 | 24.60% |
| hypermarkets | 13,326.71 | 11,823.92 | 12.71% | 106,505.27 | 87,606.05 | 21.57% |
| magnit family | 3,721.70 | 2,211.58 | 68.28% | 27,805.36 | 14,384.94 | 93.29% |
| drogerie stores | 3,858.39 | 1,743.31 | 121.33% | 23,044.83 | 11,258.02 | 104.70% |
| Net retail sales, million US$[2] | 1,214.37 | 1,815.76 | (33.12)% | 10,531.73 | 13,688.00 | (23.06)% |
| convenience stores | 893.73 | 1,378.82 | (35.18)% | 7,835.08 | 10,459.74 | (25.09)% |
| hypermarkets | 204.38 | 327.43 | (37.58)% | 1,825.21 | 2,497.29 | (26.91)% |
| magnit family | 57.08 | 61.24 | (6.80)% | 476.51 | 410.06 | 16.21% |
| drogerie stores | 59.17 | 48.28 | 22.57% | 394.93 | 320.92 | 23.06% |
For further information, please contact:
| Timothy Post | Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 |
| Dina Svishcheva | Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 |
| 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 June 30, 2015, Magnit operated 29 distribution centers and over 10,700 stores (8,890 convenience, 311 hypermarkets, and 1,527 drogerie stores) in approximately 2,233 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 1H 2015, Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 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] Based on the average exchange rate for August 2015 - 65.2041 RUB per 1 USD, August 2014 – 36.1113 RUB per 1 USD, 8M 2015 – 58.3522 RUB per 1 USD, 8M 2014 – 35.0805 RUB per 1 USD
Related Shares:
MGNT.L