PJSC "Magnit" Announces Unaudited FY 2016 Results
Krasnodar, Russia (January 27, 2017): Magnit PJSC, one of Russia's leading retailers (MOEX and LSE: MGNT) announces its unaudited FY 2016 results prepared in accordance with IFRS1.
During 2016 Magnit added 1,970 stores on a net basis (927 convenience stores, 18 hypermarkets, 39 Magnit Family stores, and 986 drogerie stores) and increased its selling space by 14.82% in comparison to 2015 from
4.41 million sq. m. to 5.07 million sq. m. The total store base as of December 31, 2016 reached 14,059 stores (10,521 convenience stores, 237 hypermarkets, 194 Magnit Family stores, and 3,107 drogerie stores).
Revenue increased by 13.07% YoY from 950.61 billion RUR in 2015 to 1.07 trillion RUR in 2016.
Gross Profit increased from 270.82 billion RUR in 2015 to 295.77 billion RUR in 2016. Gross Margin in 2016 was 27.52%.
EBITDA increased from 103.97 billion RUR in 2015 to 107.75 billion RUR in 2016. EBITDA Margin in 2016 was 10.02%. EBITDA Margin in the 4Q of 2016 was 9.66%.
Net Income was 54.36 billion RUR in 2016. Net Income Margin for 2016 was 5.06%.
According to Rosstat, general CPI in 12M 2016 was 5.4% compared to 12.9% in 12M 2015. In the month of December 2016 general CPI was 0.4% compared to 0.8% in December 2015.
Food inflation in 12M 2016 was 4.6% compared to 14.0% in 12M 2015. In the month of December 2016 food inflation was 0.6% compared to 1.2% in December 2015.
1 Based on management accounts
4Q and FY 2016 Key Operating Highlights:4Q 2016 | 4Q 2015 | Growth Rate | FY 2016 | FY 2015 | Growth Rate | |
Number of opened stores, NET | 695 | 701 | n/a | 1,970 | 2,378 | n/a |
convenience stores | 383 | 348 | n/a | 927 | 1,250 | n/a |
hypermarkets | 9 | 11 | n/a | 18 | 29 | n/a |
magnit family | 15 | 28 | n/a | 39 | 58 | n/a |
drogerie stores | 288 | 314 | n/a | 986 | 1,041 | n/a |
Total number of stores | 14,059 | 12,089 | n/a | 14,059 | 12,089 | n/a |
convenience stores | 10,521 | 9,594 | n/a | 10,521 | 9,594 | n/a |
hypermarkets | 237 | 219 | n/a | 237 | 219 | n/a |
magnit family | 194 | 155 | n/a | 194 | 155 | n/a |
drogerie stores | 3,107 | 2,121 | n/a | 3,107 | 2,121 | n/a |
Selling space, eop. th. sq. m. | 5,067.67 | 4,413.72 | 14.82% | 5,067.67 | 4,413.72 | 14.82% |
convenience stores | 3,452.40 | 3,119.56 | 10.67% | 3,452.40 | 3,119.56 | 10.67% |
hypermarkets | 683.67 | 639.14 | 6.97% | 683.67 | 639.14 | 6.97% |
magnit family | 212.76 | 170.18 | 25.02% | 212.76 | 170.18 | 25.02% |
drogerie stores | 718.84 | 484.84 | 48.26% | 718.84 | 484.84 | 48.26% |
Selling space growth, th. sq.m. | 242.28 | 258.73 | n/a | 653.95 | 823.08 | n/a |
convenience stores | 132.60 | 122.26 | n/a | 332.84 | 446.25 | n/a |
hypermarkets | 24.30 | 34.18 | n/a | 44.53 | 80.05 | n/a |
magnit family | 16.45 | 30.36 | n/a | 42.58 | 61.11 | n/a |
drogerie stores | 68.93 | 71.92 | n/a | 234.00 | 235.67 | n/a |
Number of customers, million | 966.69 | 895.82 | 7.91% | 3,817.13 | 3,376.86 | 13.04% |
convenience stores | 809.30 | 754.72 | 7.23% | 3,220.10 | 2,874.00 | 12.04% |
hypermarkets | 64.05 | 68.76 | (6.86)% | 262.10 | 263.05 | (0.36)% |
magnit family | 32.60 | 29.08 | 12.10% | 127.00 | 100.30 | 26.62% |
drogerie stores | 60.74 | 43.26 | 40.39% | 207.93 | 139.51 | 49.04% |
LFL Results
Formats | 4Q 2016 - 4Q 20152 | |||
# of Stores | Average Ticket | Traffic | Sales | |
Convenience Stores | 9,020 | 1.99% | (0.68)% | 1.30% |
Hypermarkets | 214 | 1.00% | (12.23)% | (11.35)% |
Magnit Family | 133 | 0.06% | (9.79)% | (9.74)% |
Drogeries | 1,967 | 3.91% | 0.37% | 4.29% |
Total | 11,334 | 0.56% | (1.84)% | (1.30)% |
Formats | 12M 2016 - 12M 20152 | |||
# of Stores | Average Ticket | Traffic | Sales | |
Convenience Stores | 8,663 | 0.32% | 2.05% | 2.38% |
Hypermarkets | 211 | (0.85)% | (9.32)% | (10.09)% |
Magnit Family | 133 | (1.08)% | (6.04)% | (7.05)% |
Cosmetics Stores | 1,911 | 7.55% | (2.50)% | 4.87% |
Total | 10,918 | (0.90)% | 0.65% | (0.26)% |
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, 2015.
4Q and FY 2016 Key Financial Results, million RUR4Q 2016 | 4Q 2015 | Growth Rate | FY 2016 | FY 2015 | Growth Rate | |
Net sales | 284,674.68 | 260,170.78 | 9.42% | 1,074,811.55 | 950,613.34 | 13.07% |
convenience stores | 207,440.08 | 188,929.35 | 9.80% | 790,157.07 | 701,274.95 | 12.67% |
hypermarkets | 40,394.25 | 43,310.51 | (6.73)% | 157,688.53 | 161,578.67 | (2.41)% |
magnit family | 15,161.85 | 13,509.11 | 12.23% | 56,910.82 | 44,825.31 | 26.96% |
drogerie stores | 19,468.53 | 13,403.80 | 45.25% | 64,449.43 | 40,122.06 | 60.63% |
wholesale | 2,209.97 | 1,018.01 | 117.09% | 5,605.71 | 2,812.35 | 99.32% |
Gross profit | 78,338.85 | 75,444.88 | 3.84% | 295,770.00 | 270,820.81 | 9.21% |
Gross margin, % | 27.52% | 29.00% | n/a | 27.52% | 28.49% | n/a |
EBITDAR | 37,784.53 | 37,416.36 | 0.98% | 146,225.97 | 134,149.92 | 9.00% |
EBITDAR margin, % | 13.27% | 14.38% | n/a | 13.60% | 14.11% | n/a |
EBITDA | 27,495.26 | 28,860.14 | (4.73)% | 107,749.11 | 103,972.93 | 3.63% |
EBITDA margin, % | 9.66% | 11.09% | n/a | 10.02% | 10.94% | n/a |
EBIT | 20,561.44 | 23,253.59 | (11.58)% | 81,889.96 | 82,856.21 | (1.17)% |
EBIT margin, % | 7.22% | 8.94% | n/a | 7.62% | 8.72% | n/a |
Net income | 13,439.11 | 15,807.15 | (14.98)% | 54,362.72 | 59,061.20 | (7.96)% |
Net income margin, % | 4.72% | 6.08% | n/a | 5.06% | 6.21% | n/a |
Magnit OAO published this content on 27 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 January 2017 19:05:05 UTC.
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