10th Nov 2015 07:02
PJSC MAGNIT - Magnit October/10M 2015 ResultsPJSC MAGNIT - Magnit October/10M 2015 Results
PR Newswire
London, November 10
Press-release
Krasnodar
November 10, 2015
PJSC “Magnit” Announces 19.36% Retail Sales Growth in Rubles for October 2015[1]
Krasnodar, November 10, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces 19.36% retail sales growth in rubles for October 2015.
During October 2015 the Company opened (net) 203 stores. The total store base reached 11,591 stores (9,349 convenience stores, 212 hypermarkets, 133 “Magnit Family” stores and 1,897 drogerie stores).
Preliminary consolidated unaudited net retail revenue (excl. VAT) in 10M 2015 increased by 26.16% in ruble terms (compared to 10M 2014) and stood at 767,689.25 million rubles.
According to Rosstat, general inflation in October 2015 amounted to 0.7% compared to 0.8% in October 2014, in 10M 2015 11.2% compared to 7.1% in 10M 2014.
Food inflation in October 2015 amounted to 1.0% compared to 1.2% in October 2014, in 10M 2015 11.4% compared to 9.6% in 10M 2014.
October and 10M 2015 Key Operating and Financial Highlights:
| October 2015 | October 2014 | Growth Rate | 10M 2015 | 10M 2014 | Growth Rate | |
| Number of opened stores, NET | 203 | 183 | n/a | 1,880 | 1,110 | n/a |
| convenience stores | 103 | 127 | n/a | 1,005 | 818 | n/a |
| hypermarkets | 4 | 4 | n/a | 22 | 18 | n/a |
| magnit family | 6 | 4 | n/a | 36 | 26 | n/a |
| drogerie stores | 90 | 48 | n/a | 817 | 248 | n/a |
| Total number of stores | 11,591 | 9,203 | n/a | 11,591 | 9,203 | n/a |
| convenience stores | 9,349 | 8,018 | n/a | 9,349 | 8,018 | n/a |
| hypermarkets | 212 | 179 | n/a | 212 | 179 | n/a |
| magnit family | 133 | 72 | n/a | 133 | 72 | n/a |
| drogerie stores | 1,897 | 934 | n/a | 1,897 | 934 | n/a |
| Selling space, eop, th. sq. m. | 4,227.79 | 3,394.98 | 24.53% | 4,227.79 | 3,394.98 | 24.53% |
| convenience stores | 3,033.35 | 2,560.93 | 18.45% | 3,033.35 | 2,560.93 | 18.45% |
| hypermarkets | 613.87 | 534.01 | 14.96% | 613.87 | 534.01 | 14.96% |
| magnit family | 146.72 | 83.16 | 76.44% | 146.72 | 83.16 | 76.44% |
| drogerie stores | 433.85 | 216.89 | 100.03% | 433.85 | 216.89 | 100.03% |
| Selling space growth, th. sq.m. | 72.80 | 67.98 | n/a | 637.15 | 383.60 | n/a |
| convenience stores | 36.05 | 41.22 | n/a | 360.04 | 248.73 | n/a |
| hypermarkets | 8.91 | 12.03 | n/a | 54.78 | 51.13 | n/a |
| magnit family | 6.90 | 4.33 | n/a | 37.65 | 29.90 | n/a |
| drogerie stores | 20.93 | 10.42 | n/a | 184.68 | 53.86 | n/a |
| Net retail sales, million RUR | 79,041.02 | 66,222.76 | 19.36% | 767,689.25 | 608,511.04 | 26.16% |
| convenience stores | 58,788.32 | 50,437.17 | 16.56% | 571,133.93 | 464,810.09 | 22.87% |
| hypermarkets | 12,518.15 | 11,589.89 | 8.01% | 130,786.31 | 109,939.68 | 18.96% |
| magnit family | 3,830.65 | 2,415.42 | 58.59% | 35,146.85 | 18,926.07 | 85.71% |
| drogerie stores | 3,903.91 | 1,780.27 | 119.29% | 30,622.17 | 14,835.19 | 106.42% |
| Net retail sales, million US$[2] | 1,252.89 | 1,624.26 | (22.86)% | 12,866.40 | 16,932.86 | (24.02)% |
| convenience stores | 931.86 | 1,237.08 | (24.67)% | 9,572.15 | 12,934.13 | (25.99)% |
| hypermarkets | 198.43 | 284.27 | (30.20)% | 2,191.97 | 3,059.26 | (28.35)% |
| magnit family | 60.72 | 59.24 | 2.49% | 589.06 | 526.65 | 11.85% |
| drogerie stores | 61.88 | 43.67 | 41.72% | 513.22 | 412.81 | 24.32% |
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 October 2015 - 63.0871 RUB per 1 USD, October 2014 – 40.7710 RUB per 1 USD, 10M 2015 – 59.6662 RUB per 1 USD, 10M 2014 – 35.9367 RUB per 1 USD
Related Shares:
MGNT.L