Krasnodar, RUSSIA, 2015-8-26— /EPR Retail News/ — PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces its reviewed 1H 2015 results prepared in accordance with IFRS.
During 1H 2015 the Company added (net) 1,017 stores (546 convenience stores, 11 hypermarkets, 13 “Magnit Family” stores and 447 drogerie stores) and increased its selling space by 23.17% in comparison to 1H 2014 from 3,189.21 thousand sq. m. to 3,928.00 thousand sq. m. The total store base as of June 30, 2015 reached 10,728 stores (8,890 convenience stores, 201 hypermarkets, 110 “Magnit Family” stores and 1,527 drogerie stores).
Revenue increased by 30.30% YoY from 349,047.11 million RUR in 1H 2014 to 454,808.63 million RUR in 1H 2015. The top line growth was due to an increase in selling space as well as to an 11.47% increase of like-for-like sales.
Gross profit increased by 30.81% from 97,134.52 million RUR to 127,060.41 million RUR. Gross margin in 1H 2015 amounted to 27.94%
EBITDA increased by 33.05% from 36,549.60 million RUR in 1H 2014 to 48,627.66 million RUR in 1H 2015. EBITDA margin in the 1H of 2015 was 10.69%, which is 22 b. p. higher than 1H 2014 (10.47%). EBITDA margin in the 2Q of 2015 was 11.96%.
1H 2015 net income increased by 28.98% and amounted to 25,265.66 million RUR vs.19,588.07 million RUR in 1H 2014. Net income margin for 1H 2015 was 5.56%
Key figures presented in this press-release are immaterially higher compared to numbers under management accounts announced by the Company on July 22, 2015. Thus, according to the reviewed results for the 1H 2015 Gross, EBITDA, EBIT and Net Income margins are higher by 1 b.p
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 PR and GR 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 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.
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