MAGNIT Magnit Announces Unaudited 9M 2016 Results
Krasnodar (October 21, 2016): Magnit PJSC, one of Russia's leading retailers (the "Company"; MOEX and LSE: MGNT) announces its unaudited 9M 2016 results prepared in accordance with IFRS1.
During 9M 2016 the Company added (net) 1,275 stores (544 convenience stores, 9 hypermarkets, 24 "Magnit Family" stores and 698 drogerie stores) and increased its selling space by 16.13% in comparison to 9M 2015 from 4,154.99 thousand sq. m. to 4,825.39 thousand sq. m. The total store base as of September 30, 2016 reached 13,364 stores (10,138 convenience stores, 228 hypermarkets, 179 "Magnit Family" stores and 2,819 drogerie stores).
Revenue increased by 14.44% YoY from 690,442.57 million RUR in 9M 2015 to 790,136.88 million RUR in 9M 2016.
Gross profit increased by 11.29% from 195,375.92 million RUR in 9M 2015 to 217,431.15 million RUR in 9M 2016. Gross margin in 9M 2016 amounted to 27.52%.
EBITDA increased from 75,112.79 million RUR in 9M 2015 to 80,253.85 million RUR in 9M 2016. EBITDA margin in the 9M of 2016 was 10.16%. EBITDA margin in the 3Q of 2016 was 10.67%.
9M 2016 net income stood at 40,923.61 million RUR. Net income margin for 9M 2016 was 5.18%.
According to Rosstat, general inflation in September 2016 stood at 0.2% compared to 0.6% in September 2015, in 9M 2016 it was 4.1% compared to 10.4% in 9M 2015.
Food inflation in September 2016 was -0.1% compared to 0.4% in September 2015, in 9M 2016 it was 2.4%
compared to 10.2% in 9M 2015.
1 Based on management accounts
3Q and 9M 2016 Key Operating Highlights:3Q 2016 | 3Q 2015 | Growth Rate | 9M 2016 | 9M 2015 | Growth | |
Number of opened stores, | 476 | 660 | n/a | 1,275 | 1,677 | n/a |
convenience stores | 236 | 356 | n/a | 544 | 902 | n/a |
hypermarkets | 0 | 7 | n/a | 9 | 18 | n/a |
magnit family | 9 | 17 | n/a | 24 | 30 | n/a |
drogerie stores | 231 | 280 | n/a | 698 | 727 | n/a |
Total number of stores | 13,364 | 11,388 | n/a | 13,364 | 11,388 | n/a |
convenience stores | 10,138 | 9,246 | n/a | 10,138 | 9,246 | n/a |
hypermarkets | 228 | 208 | n/a | 228 | 208 | n/a |
magnit family | 179 | 127 | n/a | 179 | 127 | n/a |
drogerie stores | 2,819 | 1,807 | n/a | 2,819 | 1,807 | n/a |
Selling space, eop. th. sq. | 4,825.39 | 4,154.99 | 16.13% | 4,825.39 | 4,154.99 | 16.13% |
convenience stores | 3,319.80 | 2,997.30 | 10.76% | 3,319.80 | 2,997.30 | 10.76% |
hypermarkets | 659.37 | 604.96 | 8.99% | 659.37 | 604.96 | 8.99% |
magnit family | 196.31 | 139.82 | 40.40% | 196.31 | 139.82 | 40.40% |
drogerie stores | 649.91 | 412.92 | 57.40% | 649.91 | 412.92 | 57.40% |
Selling space growth, th. | 148.19 | 226.99 | n/a | 411.67 | 564.35 | n/a |
convenience stores | 83.67 | 131.05 | n/a | 200.24 | 323.99 | n/a |
hypermarkets | (1.14) | 15.15 | n/a | 20.23 | 45.87 | n/a |
magnit family | 9.26 | 17.09 | n/a | 26.13 | 30.75 | n/a |
drogerie stores | 56.39 | 63.71 | n/a | 165.07 | 163.75 | n/a |
Number of customers, mn | 985.87 | 863.42 | 14.18% | 2,850.44 | 2,481.04 | 14.89% |
convenience stores | 831.52 | 732.07 | 13.58% | 2,410.80 | 2,119.29 | 13.76% |
hypermarkets | 65.78 | 66.38 | (0.90)% | 198.05 | 194.29 | 1.94% |
magnit family | 33.02 | 25.89 | 27.51% | 94.40 | 71.22 | 32.55% |
drogerie stores | 55.55 | 39.08 | 42.15% | 147.19 | 96.24 | 52.94% |
LFL Results
Formats | 3Q 2016 - 3Q 20152 | |||
# of Stores | Average Ticket | Traffic | Sales | |
Convenience Stores | 8,694 | (0.14)% | 3.88% | 3.73% |
Hypermarkets | 204 | 0.67% | (8.80)% | (8.20)% |
Magnit Family | 119 | 0.06% | (5.65)% | (5.59)% |
Drogeries | 1,639 | 7.19% | (4.00)% | 2.90% |
Total | 10,656 | (0.98)% | 2.24% | 1.23% |
Formats | 9M 2016 - 9M 20152 | |||
# of Stores | Average Ticket | Traffic | Sales | |
Convenience Stores | 8,486 | (0.29)% | 2.88% | 2.59% |
Hypermarkets | 203 | (1.44)% | (8.28)% | (9.60)% |
Magnit Family | 119 | (1.48)% | (4.70)% | (6.12)% |
Cosmetics Stores | 1,606 | 9.34% | (3.91)% | 5.07% |
Total | 10,414 | (1.37)% | 1.48% | 0.09% |
2 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 September 1, 2015.
3Q and 9M 2016 Key Financial Results, million RUR3Q 2016 | 3Q 2015 | Growth Rate | 9M 2016 | 9M 2015 | Growth Rate | |
Net sales | 268,609.30 | 235,633.94 | 13.99% | 790,136.88 | 690,442.57 | 14.44% |
convenience stores | 197,689.55 | 173,911.85 | 13.67% | 582,716.99 | 512,345.61 | 13.74% |
hypermarkets | 38,338.25 | 38,897.03 | (1.44)% | 117,294.28 | 118,268.16 | (0.82)% |
magnit family | 14,255.56 | 10,979.38 | 29.84% | 41,748.97 | 31,316.20 | 33.31% |
drogerie stores | 16,998.98 | 11,161.91 | 52.29% | 44,980.90 | 26,718.26 | 68.35% |
wholesale | 1,326.96 | 683.77 | 94.07% | 3,395.74 | 1,794.34 | 89.25% |
Gross profit | 75,368.16 | 68,315.51 | 10.32% | 217,431.15 | 195,375.92 | 11.29% |
Gross margin, % | 28.06% | 28.99% | n/a | 27.52% | 28.30% | n/a |
EBITDAR | 38,479.48 | 34,442.20 | 11.72% | 108,441.45 | 96,733.56 | 12.10% |
EBITDAR margin, % | 14.33% | 14.62% | n/a | 13.72% | 14.01% | n/a |
EBITDA | 28,654.01 | 26,485.13 | 8.19% | 80,253.85 | 75,112.79 | 6.84% |
EBITDA margin, % | 10.67% | 11.24% | n/a | 10.16% | 10.88% | n/a |
EBIT | 21,830.05 | 21,008.58 | 3.91% | 61,328.52 | 59,602.61 | 2.90% |
EBIT margin, % | 8.13% | 8.92% | n/a | 7.76% | 8.63% | n/a |
Net income | 14,816.36 | 17,988.39 | (17.63)% | 40,923.61 | 43,254.05 | (5.39)% |
Net income margin, % | 5.52% | 7.63% | n/a | 5.18% | 6.26% | n/a |
Magnit OAO published this content on 21 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 October 2016 20:08:04 UTC.
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