PJSC "Magnit" Announces Unaudited FY 2015 Results
Krasnodar, January 27, 2016: PJSC "Magnit", Russia's largest food retailer (the "Company"; MOEX and LSE: MGNT) announces its unaudited FY 2015 results prepared in accordance with IFRS1.
During 2015 the Company added (net) 2,378 stores (1,250 convenience stores, 29 hypermarkets, 58 "Magnit Family" stores and 1,041 drogerie stores) and increased its selling space by 22.92% in comparison to 2014 from 3,590.64 thousand sq. m. to 4,413.72 thousand sq. m. The total store base as of December 31, 2015 reached 12,089 stores (9,594 convenience stores, 219 hypermarkets, 155 "Magnit Family" stores and 2,121 drogerie stores).
Revenue increased by 24.50% YoY from 763,527.25 million RUR in 2014 to 950,613.34 million RUR in 2015. The top line growth was due to an increase in selling space as well as to a 6.21% increase in like-for-like sales.
Gross profit increased by 22.81% from 220,520.56 million RUR to 270,821.52 million RUR. Gross margin in 2015 amounted to 28.49%.
EBITDA increased by 20.95% from 85,909.67 million RUR in 2014 to 103,911.29 million RUR in 2015. EBITDA margin in 2015 was 10.93%, which is 32 b. p. lower than 11.25% in 2014. EBITDA margin in the 4Q of 2015 was 11.07%.
2015 net income increased by 23.40% and amounted to 58,846.66 million RUR vs. 47,685.84 million RUR in 2014. Net income margin for 2015 was 6.19%.
1 Based on management accounts
4Q and FY 2015 Key Operating Highlights:4Q 2015 | 4Q 2014 | Growth Rate | FY 2015 | FY 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% |
LFL Results
Formats | 4Q 2015 - 4Q 20142 | |||
# 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 20142 | |||
# 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% |
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 December 1, 2014.
4Q and FY 2015 Key Financial Results, million RUR4Q 2015 | 4Q 2014 | Growth Rate | FY 2015 | FY 2014 | Growth Rate | |
Net sales | 260,170.78 | 220,852.25 | 17.80% | 950,613.34 | 763,527.25 | 24.50% |
convenience stores | 188,929.35 | 163,402.85 | 15.62% | 701,274.95 | 577,775.77 | 21.37% |
hypermarkets | 43,310.51 | 41,305.33 | 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% |
wholesale | 1,018.01 | 419.21 | n/a | 2,812.35 | 805.94 | n/a |
Gross profit | 75,445.59 | 65,044.14 | 15.99% | 270,821.52 | 220,520.56 | 22.81% |
Gross margin, % | 29.00% | 29.45% | n/a | 28.49% | 28.88% | n/a |
EBITDAR | 37,373.79 | 31,251.81 | 19.59% | 134,107.36 | 106,483.50 | 25.94% |
EBITDAR margin, % | 14.37% | 14.15% | n/a | 14.11% | 13.95% | n/a |
EBITDA | 28,798.49 | 25,302.11 | 13.82% | 103,911.29 | 85,909.67 | 20.95% |
EBITDA margin, % | 11.07% | 11.46% | n/a | 10.93% | 11.25% | n/a |
EBIT | 23,228.24 | 20,615.00 | 12.68% | 82,830.86 | 68,300.00 | 21.28% |
EBIT margin, % | 8.93% | 9.33% | n/a | 8.71% | 8.95% | n/a |
Net income | 15,592.61 | 13,793.19 | 13.05% | 58,846.66 | 47,685.84 | 23.40% |
Net income margin, % | 5.99% | 6.25% | n/a | 6.19% | 6.25% | n/a |
Magnit OAO issued this content on 27 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 January 2016 08:29:23 UTC