Skip to content Skip to sidebar Skip to footer

Magnit unaudited 9M 2015 results: Revenue up 27.23% YoY; 1,677 stores added and gross profit increased by 25.66%

Krasnodar, RUSSIA, 2015-10-26 — /EPR Retail News/ — PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces its unaudited 9M 2015 results prepared in accordance with IFRS¹ .

During 9M 2015 the Company added (net) 1,677 stores (902 convenience stores, 18 hypermarkets, 30 “Magnit Family” stores and 727 drogerie stores) and increased its selling space by 24.89% in comparison to 9M 2014 from 3,327.00 thousand sq. m. to 4,154.99 thousand sq. m. The total store base as of September 30, 2015 reached 11,388 stores (9,246 convenience stores, 208 hypermarkets, 127 “Magnit Family” stores and 1,807 drogerie stores).

Revenue increased by 27.23% YoY from 542,675.00 million RUR in 9M 2014 to 690,442.57 million RUR in 9M 2015. The top line growth was due to an increase in selling space as well as to an 8.69% increase of like-for-like sales.

Gross profit increased by 25.66% from 155,476.42 million RUR to 195,375.92 million RUR. Gross margin in 9M 2015 amounted to 28.30%.

EBITDA increased by 23.93% from 60,607.56 million RUR in 9M 2014 to 75,112.79 million RUR in 9M 2015. EBITDA margin in the 9M of 2015 was 10.88%, which is 29 b. p. lower than 9M 2014 (11.17%). EBITDA margin in the 3Q of 2015 was 11.24%.

9M 2015 net income increased by 27.62% and amounted to 43,254.05 million RUR vs. 33,892.65 million RUR in 9M 2014. Net income margin for 9M 2015 was 6.26%.

¹Based on management accounts

For further information, please contact:
Timothy Post Director, Investor Relations
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562

Dina Svishcheva Deputy Director, Investor Relations
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

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.

EPR Retail News