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11 Apr 2016 08:00
PJSC MAGNIT - March 2016 ResultsPJSC MAGNIT - March 2016 Results
PR Newswire
London, April 11
Press-release
Krasnodar
April 11, 2016
PJSC “Magnit” Announces 15.35% Retail Sales Growth in Rubles for March 2016[1]
Krasnodar, April 11, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces 15.35% retail sales growth in rubles for March 2016.
During March 2016 the Company opened (net) 132 stores. The total store base reached 12,434 stores (9,715 convenience stores, 225 hypermarkets, 157 “Magnit Family” stores and 2,337 drogerie stores).
Preliminary consolidated unaudited net retail revenue (excl. VAT) in 3M 2016 increased by 16.59% in ruble terms (compared to 3M 2015) and stood at 254,435.00 million rubles.
According to Rosstat, food inflation in March 2016 amounted to 0.4% compared to 1.6% in March 2015, in 3M 2016 2.3% compared to 10.9% in 3M 2015.
General inflation in March 2016 amounted to 0.5% compared to 1.2% in March 2015, in 3M 2016 2.1% compared to 7.4% in 3M 2015.
March and 3M 2016 Key Operating and Financial Highlights:
| March 2016 | March 2015 | Growth Rate | 3M 2016[2] | 3M 2015 | Growth Rate | |
| Number of opened stores, NET | 132 | 187 | n/a | 345 | 409 | n/a |
| convenience stores | 52 | 102 | n/a | 121 | 237 | n/a |
| hypermarkets | 2 | 3 | n/a | 6 | 6 | n/a |
| magnit family | 1 | 6 | n/a | 2 | 7 | n/a |
| drogerie stores | 77 | 76 | n/a | 216 | 159 | n/a |
| Total number of stores | 12,434 | 10,120 | n/a | 12,434 | 10,120 | n/a |
| convenience stores | 9,715 | 8,581 | n/a | 9,715 | 8,581 | n/a |
| hypermarkets | 225 | 196 | n/a | 225 | 196 | n/a |
| magnit family | 157 | 104 | n/a | 157 | 104 | n/a |
| drogerie stores | 2,337 | 1,239 | n/a | 2,337 | 1,239 | n/a |
| Selling space, eop, th. sq. m. | 4,523.63 | 3,732.73 | 21.19% | 4,523.63 | 3,732.73 | 21.19% |
| convenience stores | 3,162.88 | 2,754.69 | 14.82% | 3,162.88 | 2,754.69 | 14.82% |
| hypermarkets | 653,65 | 577.03 | 13.28% | 653.65 | 577.03 | 13.28% |
| magnit family | 172.03 | 116.12 | 48.15% | 172.03 | 116.12 | 48.15% |
| drogerie stores | 535.07 | 284.90 | 87.81% | 535.07 | 284.90 | 87.81% |
| Selling space growth, th. sq.m. | 38.81 | 65.56 | n/a | 109.91 | 142.09 | n/a |
| convenience stores | 18.92 | 35.27 | n/a | 43.32 | 81.38 | n/a |
| hypermarkets | 1.18 | 6.52 | n/a | 14.51 | 17.94 | n/a |
| magnit family | 0.87 | 6.26 | n/a | 1.85 | 7.05 | n/a |
| drogerie stores | 17.84 | 17.52 | n/a | 50.23 | 35.73 | n/a |
| Number of customers, million | 321.07 | 275.49 | 16.55% | 893.52 | 766.34 | 16.60% |
| convenience stores | 271.22 | 235.87 | 14.99% | 754.01 | 658.09 | 14.58% |
| hypermarkets | 23.22 | 22.21 | 4.55% | 65.42 | 61.01 | 7.23% |
| magnit family | 10.51 | 7.59 | 38.54% | 29.66 | 20.89 | 41.95% |
| drogerie stores | 16.12 | 9.82 | 64.17% | 44.44 | 26.35 | 68.65% |
| Net retail sales, million RUR | 89,964.28 | 77,994.74 | 15.35% | 254,435.00 | 218,231.77 | 16.59% |
| convenience stores | 66,367.33 | 57,828.25 | 14.77% | 187,509.74 | 162,596.12 | 15.32% |
| hypermarkets | 13,878.89 | 14,015.68 | (0.98)% | 39,472.89 | 38,730.75 | 1.92% |
| magnit family | 4,735.59 | 3,450.15 | 37.26% | 13,515.09 | 9,601.90 | 40.75% |
| drogerie stores | 4,982.48 | 2,700.66 | 84.49% | 13,937.28 | 7,303.00 | 90.84% |
| Net retail sales, million US$[3] | 1,275.91 | 1,294.38 | (1.43)% | 3,409.36 | 3,509.01 | (2.84)% |
| convenience stores | 941.25 | 959.70 | (1.92)% | 2,512.58 | 2,614.43 | (3.90)% |
| hypermarkets | 196.84 | 232.60 | (15.38)% | 528.93 | 622.76 | (15.07)% |
| magnit family | 67.16 | 57.26 | 17.30% | 181.10 | 154.39 | 17.30% |
| drogerie stores | 70.66 | 44.82 | 57.66% | 186.76 | 117.43 | 59.04% |
LFL results
| Formats | 1Q 2016 - 1Q 2015[4] | |||
| # of Stores | Average Ticket | Traffic | Sales | |
| Convenience Stores | 8,154 | 0.32% | 2.34% | 2.67% |
| Hypermarkets | 192 | (3.90)% | (5.32)% | (9.01)% |
| Magnit Family | 97 | (3.79)% | (1.00)% | (4.76)% |
| Drogeries | 1,114 | 11.51% | (2.56)% | 8.66% |
| Total | 9,557 | (1.01)% | 1.46% | 0.44% |
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] Please note that February 2016 had 29 days when comparing 3M 2016 with 3M 2015
[3] Based on the average exchange rate for March 2016 - 70.5101 RUB per 1 USD, March 2015 – 60.2563 RUB per 1 USD, 3M 2016 – 74.6283 RUB per 1 USD, 3M 2015 – 62.1919 RUB per 1 USD
[4] LFL calculation base includes stores (all formats), which have been opened 12 months prior to the last month of the reporting period. i.e. by March 1, 2015.
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