9th Oct 2015 08:00
PJSC MAGNIT - Magnit September / 9M 2015 ResultsPJSC MAGNIT - Magnit September / 9M 2015 Results
PR Newswire
London, October 9
Press-release
Krasnodar
October 9, 2015
PJSC “Magnit” Announces 19.31% Retail Sales Growth in Rubles for September 2015[1]
Krasnodar, October 9, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces 19.31% retail sales growth in rubles for September 2015.
During September 2015 the Company opened (net) 218 stores. The total store base reached 11,388 stores (9,246 convenience stores, 208 hypermarkets, 127 “Magnit Family” stores and 1,807 drogerie stores).
Preliminary consolidated unaudited net retail revenue (excl. VAT) in 9M 2015 increased by 26.99% in ruble terms (compared to 9M 2014) and stood at 688,648.23 million rubles.
According to Rosstat, food inflation in September 2015 amounted to 0.4%, which is 60 b. p. lower than in September 2014 (1.0%). Food inflation in 9M2015 stood at 10.2% compared to 8.4% in 9M2014.
General inflation in September 2015 amounted to 0.6% compared to 0.7% in September 2014, in 9M2015 10.4% compared to 6.3% in 9M2014.
September 2015 Key Operating and Financial Highlights:
| September 2015 | September 2014 | Growth Rate | |
| Number of opened stores, NET | 218 | 121 | n/a |
| convenience stores | 119 | 79 | n/a |
| hypermarkets | 1 | 3 | n/a |
| magnit family | 5 | 6 | n/a |
| drogerie stores | 93 | 33 | n/a |
| Total number of stores | 11,388 | 9,020 | n/a |
| convenience stores | 9,246 | 7,891 | n/a |
| hypermarkets | 208 | 175 | n/a |
| magnit family | 127 | 68 | n/a |
| drogerie stores | 1,807 | 886 | n/a |
| Selling space, eop, th. sq. m. | 4,154.99 | 3,327.00 | 24.89% |
| convenience stores | 2,997.30 | 2,519.71 | 18.95% |
| hypermarkets | 604.96 | 521.98 | 15.90% |
| magnit family | 139.82 | 78.83 | 77.36% |
| drogerie stores | 412.92 | 206.48 | 99.98% |
| Selling space growth, th. sq.m. | 73.90 | 48.88 | n/a |
| convenience stores | 46.01 | 25.05 | n/a |
| hypermarkets | 1.84 | 9.75 | n/a |
| magnit family | 4.91 | 7.12 | n/a |
| drogerie stores | 21.15 | 6.97 | n/a |
| Number of customers, million | 279.58 | 245.11 | 14.06% |
| convenience stores | 237.62 | 213.55 | 11.27% |
| hypermarkets | 20.71 | 19.01 | 8.95% |
| magnit family | 8.47 | 5.25 | 61.19% |
| drogerie stores | 12.78 | 7.30 | 75.16% |
| Net retail sales, million RUR | 74,098.54 | 62,106.39 | 19.31% |
| convenience stores | 55,151.39 | 47,440.04 | 16.25% |
| hypermarkets | 11,762.88 | 10,743.74 | 9.49% |
| magnit family | 3,510.84 | 2,125.71 | 65.16% |
| drogerie stores | 3,673.43 | 1,796.90 | 104.43% |
| Net retail sales, million US$[2] | 1,109.68 | 1,639.70 | (32.32)% |
| convenience stores | 825.93 | 1,252.49 | (34.06)% |
| hypermarkets | 176.16 | 283.65 | (37.90)% |
| magnit family | 52.58 | 56.12 | (6.32)% |
| drogerie stores | 55.01 | 47.44 | 15.96% |
3Q and 9M 2015 Key Operating and Financial Highlights:
| 3Q 2015 | 3Q 2014 | Growth Rate | 9M 2015 | 9M 2014 | Growth Rate | |
| Number of opened stores, NET | 660 | 402 | n/a | 1,677 | 927 | n/a |
| convenience stores | 356 | 277 | n/a | 902 | 691 | n/a |
| hypermarkets | 7 | 6 | n/a | 18 | 14 | n/a |
| magnit family | 17 | 11 | n/a | 30 | 22 | n/a |
| drogerie stores | 280 | 108 | n/a | 727 | 200 | n/a |
| Total number of stores | 11,388 | 9,020 | n/a | 11,388 | 9,020 | n/a |
| convenience stores | 9,246 | 7,891 | n/a | 9,246 | 7,891 | n/a |
| hypermarkets | 208 | 175 | n/a | 208 | 175 | n/a |
| magnit family | 127 | 68 | n/a | 127 | 68 | n/a |
| drogerie stores | 1,807 | 886 | n/a | 1,807 | 886 | n/a |
| Selling space, eop. th. sq. m. | 4,154.99 | 3,327.00 | 24.89% | 4,154.99 | 3,327.00 | 24.89% |
| convenience stores | 2,997.30 | 2,519.71 | 18.95% | 2,997.30 | 2,519.71 | 18.95% |
| hypermarkets | 604.96 | 521.98 | 15.90% | 604.96 | 521.98 | 15.90% |
| magnit family | 139.82 | 78.83 | 77.36% | 139.82 | 78.83 | 77.36% |
| drogerie stores | 412.92 | 206.48 | 99.98% | 412.92 | 206.48 | 99.98% |
| Selling space growth, th. sq.m. | 226.99 | 137.79 | n/a | 564.35 | 315.62 | n/a |
| convenience stores | 131.05 | 86.05 | n/a | 323.99 | 207.51 | n/a |
| hypermarkets | 15.15 | 17.44 | n/a | 45.87 | 39.10 | n/a |
| magnit family | 17.09 | 11.80 | n/a | 30.75 | 25.57 | n/a |
| drogerie stores | 63.71 | 22.49 | n/a | 163.75 | 43.44 | n/a |
| Number of customers, million | 863.42 | 758.35 | 13.86% | 2,481.04 | 2,158.82 | 14.93% |
| convenience stores | 732.07 | 661.02 | 10.75% | 2,119.29 | 1,890.94 | 12.08% |
| hypermarkets | 66.38 | 60.13 | 10.38% | 194.29 | 173.08 | 12.25% |
| magnit family | 25.89 | 15.85 | 63.36% | 71.22 | 41.26 | 72.61% |
| drogerie stores | 39.08 | 21.35 | 83.08% | 96.24 | 53.54 | 79.77% |
| Net retail sales, million RUR | 234,950.17 | 193,384.54 | 21.49% | 688,648.23 | 542,288.27 | 26.99% |
| convenience stores | 173,911.85 | 147,390.87 | 17.99% | 512,345.61 | 414,372.92 | 23.64% |
| hypermarkets | 38,897.03 | 34,341.49 | 13.27% | 118,268.16 | 98,349.79 | 20.25% |
| magnit family | 10,979.38 | 6,428.94 | 70.78% | 31,316.20 | 16,510.65 | 89.67% |
| drogerie stores | 11,161.91 | 5,223.24 | 113.70% | 26,718.26 | 13,054.92 | 104.66% |
| Net retail sales, million US$[3] | 3,730.65 | 5,343.46 | (30.18)% | 11,617.32 | 15,324.16 | (24.19)% |
| convenience stores | 2,761.45 | 4,072.59 | (32.19)% | 8,643.14 | 11,709.49 | (26.19)% |
| hypermarkets | 617.62 | 948.90 | (34.91)% | 1,995.15 | 2,779.20 | (28.21)% |
| magnit family | 174.34 | 177.64 | (1.86)% | 528.30 | 466.56 | 13.23% |
| drogerie stores | 177.23 | 144.32 | 22.80% | 450.73 | 368.91 | 22.18% |
LFL results
| Formats | 3Q 2015 - 3Q 2014[4] | |||
| # of Stores | Average Ticket | Traffic | Sales | |
| Convenience Stores | 7,359 | 6.40% | (2.10)% | 4.16% |
| Hypermarkets | 171 | 4.01% | (4.63)% | (0.81)% |
| Magnit Family | 60 | 2.98% | (4.38)% | (1.53)% |
| Drogeries | 812 | 15.20% | 5.79% | 21.88% |
| Total | 8,402 | 5.80% | (2.14)% | 3.54% |
| Formats | 9M 2015 - 9M 2014[4] | |||
| # of Stores | Average Ticket | Traffic | Sales | |
| Convenience Stores | 7,087 | 10.06% | (0.74)% | 9.24% |
| Hypermarkets | 170 | 8.04% | (2.46)% | 5.38% |
| Magnit Family | 60 | 7.18% | (2.24)% | 4.78% |
| Cosmetics Stores | 764 | 13.35% | 8.99% | 23.54% |
| Total | 8,081 | 9.44% | (0.69)% | 8.69% |
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 | PR and GR 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 approximately 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 September 2015 - 66.7749 RUB per 1 USD, September 2014 – 37.8766 RUB per 1 USD
[3] Based on the average exchange rate for 3Q 2015 - 62.9784 RUB per 1 USD, 3Q 2014 – 36.1909 RUB per 1 USD, 9M 2015 – 59.2777 RUB per 1 USD, 9M 2014 – 35.3878 RUB per 1 USD
[4] LFL calculation base includes stores (all formats), which have been opened 12 months prior to the last month of the reporting period. i.e. by September 1, 2014.
Related Shares:
MGNT.L