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Magnit
Earnings Release • Jan 11, 2016
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Earnings Release
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PJSC MAGNIT - December/12M 2015 Results
PR Newswire
London, January 11
Press-release
Krasnodar
January 11, 2016
PJSC “Magnit” Announces 16.68% Retail Sales Growth in Rubles for December 2015[1]****
Krasnodar, January 11, 2016: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces 16.68% retail sales growth in rubles for December 2015.
During December 2015 the Company opened (net) 164 stores. The total store base reached 12,089 stores (9,594 convenience stores, 219 hypermarkets, 155 “Magnit Family” stores and 2,121 drogerie stores).
Preliminary consolidated unaudited net retail revenue (excl. VAT) in 12M 2015 increased by 24.27% in ruble terms (compared to 12M 2014) and stood at 947,800.99 million rubles.
December 2015 Key Operating and Financial Highlights:
| December 2015 | December 2014 | Growth Rate | |
| Number of opened stores, NET | 164 | 204 | n/a |
| convenience stores | 69 | 111 | n/a |
| hypermarkets | 2 | 9 | n/a |
| magnit family | 17 | 19 | n/a |
| drogerie stores | 76 | 65 | n/a |
| Total number of stores | 12,089 | 9,711 | n/a |
| convenience stores | 9,594 | 8,344 | n/a |
| hypermarkets | 219 | 190 | n/a |
| magnit family | 155 | 97 | n/a |
| drogerie stores | 2,121 | 1,080 | n/a |
| Selling space, eop, th. sq. m. | 4,413.72 | 3,590.64 | 22.92% |
| convenience stores | 3,119.56 | 2,673.31 | 16.69% |
| hypermarkets | 639.14 | 559.09 | 14.32% |
| magnit family | 170.18 | 109.07 | 56.03% |
| drogerie stores | 484.84 | 249.17 | 94.58% |
| Selling space growth, th. sq.m. | 68.63 | 96.05 | n/a |
| convenience stores | 24.11 | 41.63 | n/a |
| hypermarkets | 9.04 | 21.36 | n/a |
| magnit family | 17.83 | 19.09 | n/a |
| drogerie stores | 17.65 | 13.97 | n/a |
| Number of customers, million | 326.15 | 282.35 | 15.51% |
| convenience stores | 271.14 | 240.45 | 12.76% |
| hypermarkets | 26.61 | 24.04 | 10.73% |
| magnit family | 11.41 | 7.79 | 46.54% |
| drogerie stores | 16.99 | 10.07 | 68.61% |
| Net retail sales, million RUR | 101,922.70 | 87,355.88 | 16.68% |
| convenience stores | 71,908.81 | 62,684.52 | 14.72% |
| hypermarkets | 18,505.93 | 17,621.14 | 5.02% |
| magnit family | 5,844.09 | 4,019.29 | 45.40% |
| drogerie stores | 5,663.87 | 3,030.93 | 86.87% |
| Net retail sales, million US$[2] | 1,462.72 | 1,572.88 | (7.00)% |
| convenience stores | 1,031.98 | 1,128.66 | (8.57)% |
| hypermarkets | 265.58 | 317.28 | (16.29)% |
| magnit family | 83.87 | 72.37 | 15.89% |
| drogerie stores | 81.28 | 54.57 | 48.95% |
4Q and 12M 2015 Key Operating and Financial Highlights:
| 4Q 2015 | 4Q 2014 | Growth Rate | 12? 2015 | 12? 2014 | Growth Rate | |
| Number of opened stores, NET | 701 | 691 | n/a | 2,378 | 1,618 | n/a |
| convenience stores | 348 | 453 | n/a | 1,250 | 1,144 | n/a |
| hypermarkets | 11 | 15 | n/a | 29 | 29 | n/a |
| magnit family | 28 | 29 | n/a | 58 | 51 | n/a |
| drogerie stores | 314 | 194 | n/a | 1,041 | 394 | n/a |
| Total number of stores | 12,089 | 9,711 | n/a | 12,089 | 9,711 | n/a |
| convenience stores | 9,594 | 8,344 | n/a | 9,594 | 8,344 | n/a |
| hypermarkets | 219 | 190 | n/a | 219 | 190 | n/a |
| magnit family | 155 | 97 | n/a | 155 | 97 | n/a |
| drogerie stores | 2,121 | 1,080 | n/a | 2,121 | 1,080 | n/a |
| Selling space, eop. th. sq. m. | 4,413.72 | 3,590.64 | 22.92% | 4,413.72 | 3,590.64 | 22.92% |
| convenience stores | 3,119.56 | 2,673.31 | 16.69% | 3,119.56 | 2,673.31 | 16.69% |
| hypermarkets | 639.14 | 559.09 | 14.32% | 639.14 | 559.09 | 14.32% |
| magnit family | 170.18 | 109.07 | 56.03% | 170.18 | 109.07 | 56.03% |
| drogerie stores | 484.84 | 249.17 | 94.58% | 484.84 | 249.17 | 94.58% |
| Selling space growth, th. sq.m. | 258.73 | 263.64 | n/a | 823.08 | 579.26 | n/a |
| convenience stores | 122.26 | 153.60 | n/a | 446.25 | 361.11 | n/a |
| hypermarkets | 34.18 | 37.11 | n/a | 80.05 | 76.21 | n/a |
| magnit family | 30.36 | 30.24 | n/a | 61.11 | 55.81 | n/a |
| drogerie stores | 71.92 | 42.69 | n/a | 235.67 | 86.13 | n/a |
| Number of customers, million | 895.82 | 785.28 | 14.08% | 3,376.86 | 2,944.12 | 14.70% |
| convenience stores | 754.72 | 676.19 | 11.61% | 2,874.00 | 2,567.15 | 11.95% |
| hypermarkets | 68.76 | 64.50 | 6.60% | 263.05 | 237.59 | 10.72% |
| magnit family | 29.08 | 19.67 | 47.81% | 100.30 | 60.93 | 64.60% |
| drogerie stores | 43.26 | 24.91 | 73.65% | 139.51 | 78.45 | 77.82% |
| Net retail sales, million RUR | 259,152.76 | 220,433.04 | 17.57% | 947,800.99 | 762,721.31 | 24.27% |
| convenience stores | 188,929.34 | 163,402.86 | 15.62% | 701,274.95 | 577,775.77 | 21.37% |
| hypermarkets | 43,310.51 | 41,305.34 | 4.85% | 161,578.67 | 139,655.12 | 15.70% |
| magnit family | 13,509.11 | 9,023.09 | 49.72% | 44,825.31 | 25,533.74 | 75.55% |
| drogerie stores | 13,403.80 | 6,701.76 | 100.00% | 40,122.06 | 19,756.68 | 103.08% |
| Net retail sales, million US$[3] | 3,929.93 | 4,648.10 | (15.45)% | 15,548.45 | 19,851.32 | (21.68)% |
| convenience stores | 2,865.02 | 3,445.55 | (16.85)% | 11,504.25 | 15,037.75 | (23.50)% |
| hypermarkets | 656.78 | 870.97 | (24.59)% | 2,650.66 | 3,634.80 | (27.08)% |
| magnit family | 204.86 | 190.26 | 7.67% | 735.35 | 664.57 | 10.65% |
| drogerie stores | 203.26 | 141.31 | 43.84% | 658.19 | 514.21 | 28.00% |
LFL results
| Formats | 4Q 2015 - 4Q 2014[4] | |||
| # of Stores | Average Ticket | Traffic | Sales | |
| Convenience Stores | 7,798 | 3.33% | (1.45)% | 1.83% |
| Hypermarkets | 181 | (0.28)% | (7.36)% | (7.63)% |
| Magnit Family | 77 | (0.97)% | (6.53)% | (7.44)% |
| Drogeries | 973 | 13.72% | (1.63)% | 11.86% |
| Total | 9,029 | 2.07% | (2.09)% | (0.07)% |
| Formats | 12M 2015 - 12M 20144 | |||
| # of Stores | Average Ticket | Traffic | Sales | |
| Convenience Stores | 7,287 | 8.14% | (0.79)% | 7.29% |
| Hypermarkets | 179 | 5.53% | (3.80)% | 1.51% |
| Magnit Family | 76 | 4.33% | (3.55)% | 0.62% |
| Cosmetics Stores | 910 | 13.24% | 5.62% | 19.61% |
| Total | 8,452 | 7.23% | (0.96)% | 6.21% |
For further information. please contact:
| Timothy Post | Head of Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 |
| Investor Relations Office | [email protected] Direct Line: +7-861-277-4562 Website: ir.magnit.com/ |
| Media Inquiries | Media Relations Department [email protected] |
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 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.
[1] According to management accounts
[2] Based on the average exchange rate for December 2015 - 69.6801 RUB per 1 USD, December 2014 – 55.5389 RUB per 1 USD
[3] Based on the average exchange rate for 4Q 2015 - 65.9434 RUB per 1 USD, 4Q 2014 – 47.4243 RUB per 1 USD, 12M 2015 – 60.9579 RUB per 1 USD, 12M 2014 – 38.4217 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 December 1, 2014.
