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MAGNIT PJSC (MGNT)
PJSC 'Magnit' Announces Unaudited 1Q 2018 Results
20-Apr-2018 / 09:00 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Press Release
Krasnodar
April 20, 2018
PJSC "Magnit" Announces Unaudited 1Q 2018 Results
Krasnodar, Russia (April 20, 2018): Magnit PJSC, one of Russia's leading
retailers (MOEX and LSE: MGNT) announces its unaudited 1Q 2018 results
prepared in accordance with IFRS[1].
During 1Q 2018 Magnit added (net) 275 stores. The total store base as of
March 31, 2018 reached 16,625 stores (12,283 convenience stores, 242
hypermarkets, 210 "Magnit Family" stores and 3,890 drogerie stores). Selling
space increased by 13.24% in comparison to 1Q 2017 from 5.15 million sq. m.
to 5.83 million sq. m.
Revenue increased by 8.08% from 266.98 billion RUR in 1Q 2017 to 288.56
billion RUR in 1Q 2018.
Gross Profit increased from 69.82 billion RUR in 1Q 2017 to 71.90 billion
RUR in 1Q 2018. Gross Margin in 1Q 2018 was 24.92%.
EBITDA in 1Q 2018 was 20.50 billion RUR. EBITDA margin in 1Q 2018 was 7.10%.
Net Income in 1Q 2018 was 7.41 billion RUR. Net Income Margin in 1Q 2018 was
2.57%.
According to Rosstat, CPI for the last 12M (April 2017 - March 2018) was
2.4% compared to 4.3% for the same period in the previous year.
According to Rosstat, food inflation for the last 12M (April 2017 - March
2018) was 1.3% Y-o-Y vs 3.5% for the same period in the previous year.
1Q 2018 Monthly Operating Highlights:
**************************************
January Y-o-Y, February Y-o-Y, March Y-o-Y, %
% %
New Store 61 n/a 67 n/a 147 n/a
Openings
(NET)
Convenience 26 n/a 40 n/a 92 n/a
stores
Hypermarkets 0 n/a (1) n/a 0 n/a
Magnit 0 n/a 1 n/a 1 n/a
Family
Drogerie 35 n/a 27 n/a 54 n/a
Stores
Number of 16,411 n/a 16,478 n/a 16,625 n/a
Stores (EOP)
Convenience 12,151 n/a 12,191 n/a 12,283 n/a
stores
Hypermarkets 243 n/a 242 n/a 242 n/a
Magnit 208 n/a 209 n/a 210 n/a
Family
Drogerie 3,809 n/a 3,836 n/a 3,890 n/a
Stores
New Selling 18.49 n/a 14.95 n/a 41.32 n/a
Space, th.
sq. m.
Convenience 10.30 n/a 12.67 n/a 30.04 n/a
stores
Hypermarkets 0.00 n/a (5.90) n/a (1.99) n/a
Magnit 0.00 n/a 0.95 n/a 0.53 n/a
Family
Drogerie 8.19 n/a 7.23 n/a 12.74 n/a
Stores
Total 5,773.43 13.77% 5,788.37 13.49% 5,829. 13.24%
Selling 70
Space (EOP),
th. sq. m.
Convenience 3,968.36 14.70% 3,981.03 14.30% 4,011. 14.00%
stores 07
Hypermarkets 701.62 2.86% 695.72 1.63% 693.73 1.34%
Magnit 229.01 8.82% 229.96 10.16% 230.49 10.50%
Family
Drogerie 874.44 21.05% 881.67 21.75% 894.41 21.48%
Stores
Number of 328.46 9.72% 315.95 8.13% 360.31 7.71%
Customers,
million
Convenience 277.98 10.54% 266.00 8.84% 303.28 8.29%
stores
Hypermarkets 19.18 0.45% 18.58 (0.40%) 21.54 0.21%
Magnit 10.60 4.07% 10.28 5.15% 11.93 6.05%
Family
Drogerie 20.69 11.34% 21.10 8.86% 23.57 8.48%
Stores
Retail 91,649.1 7.58% 90,618.9 6.27% 102,65 9.09%
Sales[2], 3 4 9.09
million RUR
Convenience 69,887.4 9.26% 68,121.2 7.69% 77,291 10.32%
stores 8 9 .68
Hypermarkets 10,713.5 (3.34%) 10,756.9 (4.48%) 12,386 (0.52%)
4 6 .39
Magnit 4,642.28 4.04% 4,672.58 4.76% 5,379. 9.01%
Family 52
Drogerie 6,405.82 12.80% 7,068.11 12.33% 7,601. 14.08%
Stores 49
Retail 1,613.90 13.59% 1,595.06 9.24% 1,799. 11.14%
Sales2, 95
million
USD[3]
Convenience 1,230.68 15.36% 1,199.06 10.69% 1,355. 12.40%
stores 18
Hypermarkets 188.66 2.05% 189.34 (1.82%) 217.17 1.35%
Magnit 81.75 9.85% 82.25 7.68% 94.32 11.07%
Family
Drogerie 112.80 19.10% 124.41 15.47% 133.28 16.23%
Stores
1Q 2018 Operating Highlights:
******************************
1Q 2018 1Q 2018 Y-o-Y, %
New Store 275 250 n/a
Openings (NET)
Convenience 158 188 n/a
stores
Hypermarkets (1) 0 n/a
Magnit Family 2 (5) n/a
Drogerie Stores 116 67 n/a
Number of Stores 16,625 14,309 n/a
(EOP)
Convenience 12,283 10,709 n/a
stores
Hypermarkets 242 237 n/a
Magnit Family 210 189 n/a
Drogerie Stores 3,890 3,174 n/a
New Selling 74.76 80.32 n/a
Space, th. sq. m.
Convenience 53.01 66.22 n/a
stores
Hypermarkets (7.88) 0.87 n/a
Magnit Family 1.47 (4.17) n/a
Drogerie Stores 28.16 17.40 n/a
Total Selling 5,829.70 5,147.99 13.24%
Space (EOP), th.
sq. m.
Convenience 4,011.07 3,518.62 14.00%
stores
Hypermarkets 693.73 684.54 1.34%
Magnit Family 230.49 208.59 10.50%
Drogerie Stores 894.41 736.24 21.48%
Number of 1,004.72 926.08 8.49%
Customers,
million
Convenience 847.26 775.95 9.19%
stores
Hypermarkets 59.30 59.24 0.10%
Magnit Family 32.80 31.20 5.12%
Drogerie Stores 65.36 59.69 9.49%
LFL Results
Formats 1Q 2018 - 1Q 2017[4]
# of Stores Average Ticket Traffic Sales
Convenience Stores 9,614 (0.07%) (3.76%) (3.83%)
Hypermarkets 228 (2.96%) (1.96%) (4.86%)
Magnit Family 173 (0.35%) (2.81%) (3.15%)
Drogerie 2,947 4.53% (4.24%) 0.10%
Total 12,962 (0.01%) (3.64%) (3.65%)
1Q 2018 Key Financial Results, million RUR
1Q 2018 1Q 2017 Growth Rate
Net Sales 288,561.37 266,983.08 8.08%
Convenience stores 215,300.46 197,282.06 9.13%
Hypermarkets 33,856.90 34,797.73 (2.70%)
Magnit Family 14,694.38 13,857.09 6.04%
Drogerie Stores 21,075.42 18,634.44 13.10%
Wholesale 3,634.21 2,411.76 50.69%
Gross Profit[5] 71 902.52 69 822.56 2.98%
Gross Margin, % 24.92% 26.15% n/a
EBITDAR 33,090.23 31,621.20 4.65%
EBITDAR Margin, % 11.47% 11.84% n/a
EBITDA 20,500.38 20,995.41 (2.36%)
EBITDA Margin, % 7.10% 7.86% n/a
EBIT 11,727.76 12,910.15 (9.16%)
EBIT Margin, % 4.06% 4.84% n/a
Net Income 7,405.13 7,543.09 (1.83%)
Net Income Margin, % 2.57% 2.83% n/a
1Q 2018 Key Financial Results, USD million[6]
1Q 2018 1Q 2017 Growth Rate
Net sales 5,073.13 4,537.70 11.80%
Convenience stores 3,785.15 3,353.05 12.89%
Hypermarkets 595.23 591.43 0.64%
Magnit Family 258.34 235.52 9.69%
Drogerie Stores 370.52 316.72 16.99%
Wholesale 63.89 40.99 55.87%
Gross Profit 1 264.10 1 186.72 6.52%
Gross Margin, % 24.92% 26.15% n/a
EBITDAR 581.75 537.44 8.24%
EBITDAR Margin, % 11.47% 11.84% n/a
EBITDA 360.41 356.84 1.00%
EBITDA Margin, % 7.10% 7.86% n/a
EBIT 206.18 219.42 (6.03%)
EBIT Margin, % 4.06% 4.84% n/a
Net Income 130.19 128.20 1.55%
Net Income Margin, % 2.57% 2.83% n/a
Notes:
1) Net revenue in USD terms is calculated using the average exchange rate
for the period.
2) This announcement contains inside information which is disclosed in
accordance with the Market Abuse Regulation which came into effect on 3 July
2016.
3) Please note that there may be small variations in calculation of totals,
subtotals and/ or percentage change due to rounding of decimals.
For further information, please contact:
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