23 Mar 2018 07:00
MAGNIT PJSC (MGNT) PJSC 'Magnit' Announces Audited FY 2017 Results 23-March-2018 / 08:00 CET/CEST Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
Press Release Krasnodar March 23, 2018
PJSC "Magnit" Announces Audited FY 2017 Results
Krasnodar, Russia (March 23, 2018): Magnit PJSC, one of Russia's leading retailers (MOEX and LSE: MGNT) announces its audited FY 2017 results prepared in accordance with IFRS.
During 2017 Magnit added (net) 2,291 stores. The total store base as of December 31, 2017 reached 16,350 stores (12,125 convenience stores, 243 hypermarkets, 208 "Magnit Family" stores and 3,774 drogerie stores). Selling space increased by 13.56% in comparison to 2016 from 5.07 million sq. m. to 5.75 million sq. m.
Revenue increased by 6.37% from 1,074.81 billion RUR in 2016 to 1,143.31 billion RUR in 2017.
Gross Profit increased from 295.76 billion RUR in 2016 to 304.64 billion RUR in 2017. Gross Margin in 2017 was 26.65%.
EBITDA in 2017 was 91.78 billion RUR. EBITDA margin in 2017 was 8.03%.
Net Income in 2017 was 35.54 billion RUR. Net Income Margin in 2017 was 3.11%.
According to Rosstat, CPI for the last 12M (January - December 2017) was 2.5% compared to 5.4% for the same period in the previous year.
According to Rosstat, food inflation for the last 12M (January - December 2017) was 1.1% Y-o-Y vs 4.6% for the same period in the previous year.
Key figures presented in this press release immaterially differ from the numbers under management accounts announced by Magnit on January 26, 2018. 4Q and 12M 2017 Operating Highlights:
LFL Results
4Q[2] and FY 2017 Key Financial Results, million RUR[3]
4Q2 and FY 20173 Key Financial Results, USD million[4]
Notes:
1) Net revenue in USD terms is calculated using the average exchange rate for the period. 2) This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016. 3) Please note that there may be small variations in calculation of totals, subtotals and/ or percentage change due to rounding of decimals. For further information, please contact:
Company description: Public Joint Stock Company "Magnit" is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2017, Magnit operated 37 distribution centers and 16,350 stores (12,125 convenience, 243 hypermarkets, 208 Magnit Family stores and 3,774 drogerie stores) in 2,709 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS results for 2017, Magnit had revenues of RUB 1,143 billion and an EBITDA of RUB 92 billion. Magnit's local shares are traded on the Moscow 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] 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 December 1, 2016. [2] Unaudited results [3] Please follow the link to view FY 2017 financial report http://ir.magnit.com/en/financial-reports/ or http://www.morningstar.co.uk/uk/NSM [4] Based on the average exchange rate for 4Q 2017 - 58.4080 RUB per 1 USD, 4Q 2016 - 63.0685 RUB per 1 USD, FY 2017 - 58.3529 RUB per 1 USD, FY 2016 - 67.0349 RUB per 1 USD | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ISIN: | US55953Q2021 |
| Category Code: | ACS |
| TIDM: | MGNT |
| LEI Code: | 2534009KKPTVL99W2Y12 |
| OAM Categories: | 1.1. Annual financial and audit reports |
| Sequence No.: | 5327 |
| End of Announcement | EQS News Service |
667935 23-March-2018
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.