9th Dec 2015 07:04
PJSC MAGNIT - Magnit November/11M 2015 ResultsPJSC MAGNIT - Magnit November/11M 2015 Results
PR Newswire
London, December 9
Press-release
Krasnodar
December 9, 2015
PJSC “Magnit” Announces 16.95% Retail Sales Growth in Rubles for November 2015[1]
Krasnodar, December 9, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces 16.95% retail sales growth in rubles for November 2015.
During November 2015 the Company opened (net) 334 stores. The total store base reached 11,925 stores (9,525 convenience stores, 217 hypermarkets, 138 “Magnit Family” stores and 2,045 drogerie stores).
Preliminary consolidated unaudited net retail revenue (excl. VAT) in 11M 2015 increased by 25.25% in ruble terms (compared to 11M 2014) and stood at 845,878.29 million rubles.
According to Rosstat, general inflation in November 2015 amounted to 0.8% compared to 1.3% in November 2014, in 11M 2015 12.1% compared to 8.5% in 11M 2014.
Food inflation in November 2015 amounted to 1.2% compared to 2.0% in November 2014, in 11M 2015 12.7% compared to 11.8% in 11M 2014.
Sergey Galitskiy, the Company's CEO, provided the following comments on the published results:
“Starting from December, the Company’s main priority is the sales growth rate increase. We already see the positive results.”
November and 11M 2015 Key Operating and Financial Highlights:
| November 2015 | November 2014 | Growth Rate | 11M 2015 | 11M 2014 | Growth Rate | |||||
| Number of opened stores, NET | 334 | 304 | n/a | 2,214 | 1,414 | n/a | ||||
| convenience stores | 176 | 215 | n/a | 1,181 | 1,033 | n/a | ||||
| hypermarkets | 5 | 2 | n/a | 27 | 20 | n/a | ||||
| magnit family | 5 | 6 | n/a | 41 | 32 | n/a | ||||
| drogerie stores | 148 | 81 | n/a | 965 | 329 | n/a | ||||
| Total number of stores | 11,925 | 9,507 | n/a | 11,925 | 9,507 | n/a | ||||
| convenience stores | 9,525 | 8,233 | n/a | 9,525 | 8,233 | n/a | ||||
| hypermarkets | 217 | 181 | n/a | 217 | 181 | n/a | ||||
| magnit family | 138 | 78 | n/a | 138 | 78 | n/a | ||||
| drogerie stores | 2,045 | 1,015 | n/a | 2,045 | 1,015 | n/a | ||||
| Selling space, eop, th. sq. m. | 4,345.09 | 3,494.59 | 24.34% | 4,345.09 | 3,494.59 | 24.34% | ||||
| convenience stores | 3,095.45 | 2,631.68 | 17.62% | 3,095.45 | 2,631.68 | 17.62% | ||||
| hypermarkets | 630.10 | 537.73 | 17.18% | 630.10 | 537.73 | 17.18% | ||||
| magnit family | 152.35 | 89.98 | 69.31% | 152.35 | 89.98 | 69.31% | ||||
| drogerie stores | 467.19 | 235.20 | 98.64% | 467.19 | 235.20 | 98.64% | ||||
| Selling space growth, th. sq.m. | 117.30 | 99.61 | n/a | 754.45 | 483.21 | n/a | ||||
| convenience stores | 62.10 | 70.75 | n/a | 422.14 | 319.48 | n/a | ||||
| hypermarkets | 16.23 | 3.72 | n/a | 71.01 | 54.85 | n/a | ||||
| magnit family | 5.63 | 6.82 | n/a | 43.28 | 36.72 | n/a | ||||
| drogerie stores | 33.34 | 18.31 | n/a | 218.02 | 72.16 | n/a | ||||
| Net retail sales, million RUR | 78,189.04 | 66,854.40 | 16.95% | 845,878.29 | 675,365.44 | 25.25% | ||||
| convenience stores | 58,232.21 | 50,281.17 | 15.81% | 629,366.14 | 515,091.26 | 22.19% | ||||
| hypermarkets | 12,286.43 | 12,094.30 | 1.59% | 143,072.74 | 122,033.98 | 17.24% | ||||
| magnit family | 3,834.37 | 2,588.38 | 48.14% | 38,981.22 | 21,514.45 | 81.19% | ||||
| drogerie stores | 3,836.02 | 1,890.56 | 102.90% | 34,458.19 | 16,725.75 | 106.02% | ||||
| Net retail sales, million US$[2] | 1,202.28 | 1,456.07 | (17.43)% | 14,063.21 | 18,335.93 | (23.30)% | ||||
| convenience stores | 895.42 | 1,095.11 | (18.23)% | 10,463.57 | 13,984.54 | (25.18)% | ||||
| hypermarkets | 188.92 | 263.41 | (28.28)% | 2,378.67 | 3,313.18 | (28.21)% | ||||
| magnit family | 58.96 | 56.37 | 4.59% | 648.09 | 584.11 | 10.95% | ||||
| drogerie stores | 58.99 | 41.18 | 43.25% | 572.89 | 454.10 | 26.16% | ||||
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 September 30, 2015, Magnit operated 29 distribution centers and about 11,400 stores (9,246 convenience, 335 hypermarkets, and 1,807 drogerie stores) in 2,297 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements 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 November 2015 – 65.0337 RUB per 1 USD, November 2014 – 45.9143 RUB per 1 USD, 11M 2015 – 60.1483 RUB per 1 USD, 11M 2014 – 36.8329 RUB per 1 USD
Related Shares:
MGNT.L