10 Aug 2015 07:58
PJSC MAGNIT - Magnit July/7M 2015 ResultsPJSC MAGNIT - Magnit July/7M 2015 Results
PR Newswire
London, August 10
Press-release
Krasnodar
August 10, 2015
PJSC “Magnit” Announces 24.29% Retail Sales Growth in Rubles for July 2015[1]
Krasnodar, August 10, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces 24.29% retail sales growth in rubles for July 2015.
During July 2015 the Company opened (net) 211 stores. The total store base reached 10,939 stores (8,998 convenience stores, 206 hypermarkets, 115 “Magnit Family” stores and 1,620 drogerie stores).
Preliminary consolidated unaudited net retail revenue (excl. VAT) in 7M 2015 increased by 29.12% in ruble terms (compared to 7M 2014) and stood at 535,367.97 million rubles.
According to Rosstat, general inflation in July 2015 amounted to 0.8% compared to 0.5% in July 2014, in 7M2015 9.4% compared to 5.3% in 7M2014.
Food inflation in July 2015 amounted to -0.3% (minus zero point three) compared to -0.1% (minus zero point one) in July 2014, in 7M2015 10.5% compared to 7.6% in 7M2014.
July and 7M 2015 Key Operating and Financial Highlights:
| July 2015 | July 2014 | Growth Rate | 7? 2015 | 7? 2014 | Growth Rate | |
| Number of opened stores, NET | 211 | 115 | n/a | 1,228 | 640 | n/a |
| convenience stores | 108 | 72 | n/a | 654 | 486 | n/a |
| hypermarkets | 5 | 1 | n/a | 16 | 9 | n/a |
| magnit family | 5 | 4 | n/a | 18 | 15 | n/a |
| drogerie stores | 93 | 38 | n/a | 540 | 130 | n/a |
| Total number of stores | 10,939 | 8,733 | n/a | 10,939 | 8,733 | n/a |
| convenience stores | 8,998 | 7,686 | n/a | 8,998 | 7,686 | n/a |
| hypermarkets | 206 | 170 | n/a | 206 | 170 | n/a |
| magnit family | 115 | 61 | n/a | 115 | 61 | n/a |
| drogerie stores | 1,620 | 816 | n/a | 1,620 | 816 | n/a |
| Selling space, eop, th. sq. m. | 4,001.98 | 3,227.40 | 24.00% | 4,001.98 | 3,227.40 | 24.00% |
| convenience stores | 2,903.44 | 2,456.86 | 18.18% | 2,903.44 | 2,456.86 | 18.18% |
| hypermarkets | 600.53 | 507.96 | 18.22% | 600.53 | 507.96 | 18.22% |
| magnit family | 127.92 | 70.79 | 80.69% | 127.92 | 70.79 | 80.69% |
| drogerie stores | 370.09 | 191.78 | 92.98% | 370.09 | 191.78 | 92.98% |
| Selling space growth, th. sq.m. | 73.98 | 38.19 | n/a | 411.34 | 216.02 | n/a |
| convenience stores | 37.19 | 23.20 | n/a | 230.13 | 144.66 | n/a |
| hypermarkets | 10.72 | 3.42 | n/a | 41.44 | 25.08 | n/a |
| magnit family | 5.19 | 3.76 | n/a | 18.85 | 17.53 | n/a |
| drogerie stores | 20.88 | 7.79 | n/a | 120.92 | 28.74 | n/a |
| Net retail sales, million RUR | 81,669.91 | 65,708.54 | 24.29% | 535,367.97 | 414,612.27 | 29.12% |
| convenience stores | 60,485.54 | 50,160.02 | 20.59% | 398,919.29 | 317,142.07 | 25.79% |
| hypermarkets | 13,807.44 | 11,773.83 | 17.27% | 93,178.57 | 75,782.13 | 22.96% |
| magnit family | 3,746.84 | 2,091.65 | 79.13% | 24,083.66 | 12,173.35 | 97.84% |
| drogerie stores | 3,630.09 | 1,683.04 | 115.69% | 19,186.45 | 9,514.71 | 101.65% |
| Net retail sales, million US$[2] | 1,430.83 | 1,896.95 | (24.57)% | 9,335.07 | 11,869.87 | (21.35)% |
| convenience stores | 1,059.69 | 1,448.08 | (26.82)% | 6,955.85 | 9,079.41 | (23.39)% |
| hypermarkets | 241.90 | 339.90 | (28.83)% | 1,624.73 | 2,169.56 | (25.11)% |
| magnit family | 65.64 | 60.38 | 8.71% | 419.94 | 348.51 | 20.50% |
| drogerie stores | 63.60 | 48.59 | 30.89% | 334.55 | 272.40 | 22.82% |
For further information, please contact:
| Timothy Post | Director, Investor Relations Email: post@magnit.ru 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: Chistyak@magnit.ru Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 |
| 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 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 July 2015 - 57.0787 RUB per 1 USD, July 2014 – 34.6390 RUB per 1 USD, 7M 2015 – 57.3502 RUB per 1 USD, 7M 2014 – 34.9298 RUB per 1 USD