11 May 2016 08:02
PJSC MAGNIT - April 2016 ResultsPJSC MAGNIT - April 2016 Results
PR Newswire
London, May 11
Press Release
Krasnodar
May 11, 2016
PJSC “Magnit” Announces 14.67% Retail Sales Growth in Rubles for April 2016[1]
Krasnodar, May 11, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces 14.67% retail sales growth in rubles for April 2016.
During April 2016 the Company opened (net) 143 stores. The total store base reached 12,577 stores (9,771 convenience stores, 227 hypermarkets, 161 “Magnit Family” stores and 2,418 drogerie stores).
Preliminary consolidated unaudited net retail revenue (excl. VAT) in 4M 2016 increased by 16.09% in ruble terms (compared to 4M 2015) and stood at 342,591.71 million rubles.
According to Rosstat, general inflation in April 2016 amounted to 0.4% compared to 0.5% in April 2015, in 4M 2016 it was 2.5% compared to 7.9% in 4M 2015.
Food inflation in April 2016 amounted to 0.4% compared to 0.3% in April 2015, in 4M 2016 it was 2.7% compared to 11.2% in 4M 2015.
April and 4M 2016 Key Operating and Financial Highlights[2]:
| April 2016 | April 2015 | Growth Rate | 4M 2016 | 4M 2015 | Growth Rate | |
| Number of opened stores, NET | 143 | 163 | n/a | 488 | 572 | n/a |
| convenience stores | 56 | 83 | n/a | 177 | 320 | n/a |
| hypermarkets | 2 | 2 | n/a | 8 | 8 | n/a |
| magnit family | 4 | 2 | n/a | 6 | 9 | n/a |
| drogerie stores | 81 | 76 | n/a | 297 | 235 | n/a |
| Total number of stores | 12,577 | 10,283 | n/a | 12,577 | 10,283 | n/a |
| convenience stores | 9,771 | 8,664 | n/a | 9,771 | 8,664 | n/a |
| hypermarkets | 227 | 198 | n/a | 227 | 198 | n/a |
| magnit family | 161 | 106 | n/a | 161 | 106 | n/a |
| drogerie stores | 2,418 | 1,315 | n/a | 2,418 | 1,315 | n/a |
| Selling space, eop, th. sq. m. | 4,574.34 | 3,786.89 | 20.79% | 4,574.34 | 3,786.89 | 20.79% |
| convenience stores | 3,185.12 | 2,785.07 | 14.36% | 3,185.12 | 2,785.07 | 14.36% |
| hypermarkets | 658.43 | 581.46 | 13.24% | 658.43 | 581.46 | 13.24% |
| magnit family | 176.34 | 118.46 | 48.86% | 176.34 | 118.46 | 48.86% |
| drogerie stores | 554.45 | 301.90 | 83.66% | 554.45 | 301.90 | 83.66% |
| Selling space growth, th. sq. m. | 50.71 | 54.16 | n/a | 160.62 | 196.25 | n/a |
| convenience stores | 22.24 | 30.38 | n/a | 65.56 | 111.76 | n/a |
| hypermarkets | 4.78 | 4.43 | n/a | 19.29 | 22.37 | n/a |
| magnit family | 4.31 | 2.34 | n/a | 6.16 | 9.39 | n/a |
| drogerie stores | 19.38 | 17.00 | n/a | 69.61 | 52.73 | n/a |
| Net retail sales, million RUR | 88,156.70 | 76,881.84 | 14.67% | 342,591.71 | 295,113.61 | 16.09% |
| convenience stores | 65,548.99 | 57,448.07 | 14.10% | 253,058.73 | 220,044.19 | 15.00% |
| hypermarkets | 13,461.97 | 13,454.00 | 0.06% | 52,934.86 | 52,184.75 | 1.44% |
| magnit family | 4,697.46 | 3,499.34 | 34.24% | 18,212.55 | 13,101.24 | 39.01% |
| drogerie stores | 4,448.28 | 2,480.44 | 79.33% | 18,385.56 | 9,783.44 | 87.93% |
| Net retail sales, million US$ | 1,321.85 | 1,452.42 | (8.99)% | 4,714.96 | 4,928.64 | (4.34)% |
| convenience stores | 982.86 | 1,085.29 | (9.44)% | 3,482.75 | 3,674.92 | (5.23)% |
| hypermarkets | 201.85 | 254.17 | (20.58)% | 728.52 | 871.53 | (16.41)% |
| magnit family | 70.44 | 66.11 | 6.55% | 250.65 | 218.80 | 14.56% |
| drogerie stores | 66.70 | 46.86 | 42.34% | 253.03 | 163.39 | 54.86% |
For further information, please contact:
| Timothy Post | Head of Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 |
| Investor Relations Office | MagnitIR@magnit.ru Direct Line: +7-861-277-4562 Website: ir.magnit.com/ |
| Media Inquiries | Media Relations Department press@magnit.ru |
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 March 31, 2016, Magnit operated 34 distribution centers and about 12,434 stores (9,715 convenience, 382 hypermarkets, and 2,337 drogerie stores) in 2,385 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS results 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] Based on the average exchange rate for April 2016 – 66.6921 RUB per 1 USD, April 2015 – 52.9336 RUB per 1 USD, 4M 2016 – 72.6606 RUB per 1 USD, 4M 2015 – 59.8773 RUB per 1 USD