Russia’s largest retailer PJSC Magnit announces its audited FY 2015 results

Krasnodar, Russia, 2016-Mar-28 — /EPR Retail News/ — , March 24, 2016: PJSC “Magnit”, Russia’s largest retailer (the “Company”; MOEX and LSE: MGNT) announces its audited FY 2015 results prepared in accordance with IFRS.

During 2015 the Company added (net) 2,378 stores (1,250 convenience stores, 29 hypermarkets, 58 “Magnit Family” stores and 1,041 drogerie stores) and increased its selling space by 22.92% in comparison to 2014 from 3,590.64 thousand sq. m. to 4,413.72 thousand sq. m. The total store base as of December 31, 2015 reached 12,089 stores (9,594 convenience stores, 219 hypermarkets, 155 “Magnit Family” stores and 2,121 drogerie stores).

Revenue increased by 24.50% YoY from 763,527.25 million RUR in 2014 to 950,613.34 million RUR in 2015. The top line growth was due to an increase in selling space as well as to a 6.21% increase in like-for-like sales.

Gross profit increased by 22.81% from 220,520.56 million RUR to 270,820.81 million RUR. Gross margin in 2015 amounted to 28.49%.

EBITDA increased by 21.03% from 85,909.67 million RUR in 2014 to 103,972.93 million RUR in 2015. EBITDA margin in 2015 amounted to 10.94%. EBITDA margin in the 4Q of 2015 was 11.09%. Net Debt / EBITDA ratio (in ruble terms) for 2015 amounted to 0.92.

2015 net income increased by 23.85% and amounted to 59,061.20 million RUR vs. 47,685.84 million RUR in 2014. Net income margin for 2015 was 6.21%.

Key figures presented in this press release are immaterially higher compared to numbers under management accounts announced by the Company on January 27, 2016. Thus, according to the audited FY 2015 results EBITDA and EBIT margins are higher by 1 b. p., while Net Income margin is higher 2 b.p

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: http://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 December 31, 2015, Magnit operated 33 distribution centers and about 12,089 stores (9,594 convenience, 374 hypermarkets, and 2,121 drogerie stores) in 2,361 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.

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