Fix Price Group PLC (FIXP)
Fix Price opens distribution centre in Domodedovo
16-March-2023 / 10:00 MSK
The issuer is solely responsible for the content of this announcement.
Fix Price opens distribution centre in Domodedovo
The new facility takes up an area of 68 thous. sq.m
16March 2023– Fix Price, one of the leading variety value retailers globally and the largest in Russia, has launched a new distribution centre (DC) with a total area of 68 thous. sq. m at PNK Park Domodedovo 1. It is the chain’s eleventh and largest DC. The facility is a built-to-suit property developed by PNK Group and owned by the Company.
Fix Price invested circa RUB3.5bn (net of VAT) in the construction and outfitting of the distribution centre in Domodedovo, with a target to reach a break-even point in approximately seven years. The DC will create 400jobs.
“Fix Price continues its active expansion in Russia. It is our third large distribution centre in the Moscow Region, which will contribute to the chain's robust growth in both central and southern Russia.
The new economic realities of 2022 challenged our choice of DC equipment, so we had to source it from Chinese suppliers instead of European ones, which thankfully did not affect the project's opening date and economics. We are happy to continue expanding our logistics infrastructure to effectively serve our stores and, accordingly, our customers.”
Oleg Shtainagel, Logistics Department Director at Fix Price.
The distribution centre is already up and running, with the first consignment of goods shipped on 15March 2023.
About the Company
Fix Price (LSE and MOEX: FIXP), one of the leading variety value retailers globally and the largest in Russia, has helped its customers save money every day since 2007. Fix Price offers shoppers a unique and constantly refreshed product assortment of non-food goods, personal care and household products and food items at low fixed price points.
As of 31December 2022, Fix Price was operating 5,663stores in Russia and neighbouring countries, each of them stocking approximately 2,000SKUs across around 20product categories. As well as its own private brands, Fix Price sells products from leading global names and smaller local suppliers. As of 31December 2022, the Company was operating 10DCs covering 80regions of Russia and 6neighbouring countries.
In2022, the Company recorded revenue of RUB277.6billion, EBITDA of RUB54.2billion and net profit of RUB21.4billion, in accordance with IFRS.
Contacts
Fix Price Investor Relations
Fix Price Media Relations
Elena Mironova
ir@fix-price.com
Ekaterina Goncharova
pr@fix-price.com
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The issuer is solely responsible for the content of this announcement.
ISIN:
US33835G2057
Category Code:
MSCU
TIDM:
FIXP
LEI Code:
549300EXJV1RPGZNH608
OAM Categories:
3.1. Additional regulated information required to be disclosed under the laws of a Member State
Fix Price Group PLC is one of Russia's leading convenience store operating groups. Net sales break down by activity as follows
- retail distribution (88.7%);
- wholesale distribution (11.3%).
At the end of 2022, products marketing is ensured through a network of 5,663 stores, divided between directly-owned stores (5,039) and franchised stores (624).