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WKN: A0MVY2 ISIN: US55953Q2021 Ticker-Symbol: 5M71 
Stuttgart
27.09.21
16:04 Uhr
13,800 Euro
-0,200
-1,43 %
1-Jahres-Chart
MAGNIT PJSC GDR Chart 1 Jahr
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MAGNIT PJSC GDR 5-Tage-Chart
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13,90014,10027.09.
14,00014,10027.09.
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Magnit reports 9.6% total sales growth, 5.2% LFL sales growth and 7.1% EBITDA margin in 2Q 2021

DJ Magnit reports 9.6% total sales growth, 5.2% LFL sales growth and 7.1% EBITDA margin in 2Q 2021

MAGNIT PJSC (MGNT) 
Magnit reports 9.6% total sales growth, 5.2% LFL sales growth and 7.1% EBITDA margin in 2Q 2021 
29-Jul-2021 / 09:59 MSK 
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. 
=---------------------------------------------------------------------------------------------------------------------- 
 
 
 
Magnit Reports 9.6% total sales growth, 5.2% LFL Sales Growth and 7.1% EBITDA margin in 2Q 2021 
 
 
Krasnodar, Russia (July 29, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, 
announces its 2Q and 1H 2021 operational and unaudited financial results. 
 
 
 
       2Q 2021 Key Operational and Financial Highlights 
 
        - Total revenue increased by 9.6% y-o-y to RUB 424.3 billion; 
9.6%      - Net retail sales reached RUB 413.7 billion increasing 9.1% y-o-y; 
        - LFL[1] sales growth of 5.2% driven by 10.0% traffic growth and 4.4% reduction in average ticket; 
TOTAL REVENUE 
growth 
        - The Company opened 519 stores on gross basis (308 convenience stores, one supermarket and 210 
         drogeries). As part of the Company's ongoing efficiency improvement campaign, 75 stores were closed 
5.2%       resulting in a net store addition of 444. As of June 30, 2021 the total store base was 22,344; 
        - Selling space increase of 142 thousand sq. m. bringing total selling space to 7,748 thousand sq. m. 
lfl sales     (6.3% y-o-y growth); 
growth     - The Company redesigned 143 stores (131 convenience stores and 12 supermarkets). As at June 30, 2021, 
         74% of convenience stores, 34% of supermarkets and 59% of drogeries are either new or refurbished; 
        - Gross profit increased by 5.5% y-o-y to RUB 99.5 billion with a margin of 23.4% as a result of better 
         promo margin, lower shrinkage and favorable format mix partially offset by slightly higher supply 
         chain costs and promotional share; 
 
7.1%      - EBITDA was RUB 30.3 billion with a 7.1% margin driven by gross margin dynamics and strict cost 
         control; 
EBITDA margin  - Net income of RUB 12.1 billion with a margin of 2.8%. 
 
 
       "Despite the strong comparable performance last year we delivered a very good set of results for the 
«       second quarter. Sales growth accelerated across all formats, underpinned by further growth in LFL sales 
       and rapid expansion. I am pleased to see mature stores as a key driver of these improvements. 
 
 
 
       Consumer behavior and shopping patterns are now normalizing. Since June we have seen healthy LFL 
       performances, with positive ticket and traffic development. Magnit continues gaining market share, and 
       our engagement with existing customers is positive, reflected by increased frequency, increased spend per 
       visit and 'trading up' behaviours. 
 
       In delivering a 7.1% EBITDA margin with sustainable q-o-q improvement we are on track to perform in line 
       with our strategy both this year and beyond, having already made excellent progress as evidenced by 
Jan Dunning  improvements across margin and working capital cycle as well as very comfortable levels of leverage 
       already achieved. 
Magnit's 
President 
and CEO    Continuous improvement of sales densities, sustainable margins, better cash generation and flexible 
       financial position allowed us to speed up organic expansion and take advantage of a unique and 
       value-accretive M&A opportunity through the acquisition of Dixy. This is a strategically important 
       transaction for Magnit that dramatically changes our market positioning. Integration of such large 
       business and extraction of synergies will, of course, take time and effort, however, our ambitious 
       long-term targets remain unchanged and may be achieved even a bit earlier". 
» 
 
 
 
50 
RUB billion 
total amount 
of dividends 
announced 
for 2020 
       Key events in 2Q 2021 and after the Reported Period 
        - Magnit completed its strategic acquisition of the DIXY retail chain comprising 2,477 stores in Russia 
         significantly strengthening competitive positions in the Moscow and St. Petersburg markets; 
        - A new Board of Directors consisting of nine members, including five independent non-executive 
         directors, were elected at the Company's AGM. For the fourth consecutive year Charles Ryan was 
         elected a Chairman of the Board of Directors; 
        - The Board called an EGM with a view to increasing the size of the Board of Directors from 9 to 11 
         members; 
        - Magnit announced FY 2020 dividends of c. RUB 25 billion or RUB 245.31 per one ordinary share bringing 
         the total dividend payment to RUB 50 billion (RUB 490.62 per ordinary share), which is 61% higher 
         than in the previous year; 
        - Two issues of the exchange-traded bonds in a value of RUB 10 billion each with an interest rate of 
         7.05% per annum were placed on MoEx. Analytical Credit Rating Agency ACRA assigned credit rating AA 
         (RU) to each bond issue; 
        - Magnit increased its discounter pilot to 76 stores and reported 20-30% LFL sales growth across 
         discounter stores converted from convenience stores; 
        - Magnit continued developing its super app and became the first retailer in Russia to introduce a 
         Credit Broker online service; 
        - Magnit launched its own delivery service from Magnit Cosmetic stores and superstores across numerous 
         regions; 
        - Magnit and Wildberries launched express delivery partnership. 
 
76 
hard 
disounters in 
operation 
 
 
 
 2Q and 1H 2021 Operating Results 

Retail Sales

2Q 2021 2Q 2020 Change Change, % 1H 2021 1H 2020 Change Change, % 
Total Net Retail Sales, million RUB 413,693 379,174 34,519 9.1%   801,592 743,959 57,634 7.7% 
Convenience Stores[2]        324,476 295,796 28,680 9.7%   624,418 575,591 48,827 8.5% 
Supermarkets[3]           51,513 49,992 1,521 3.0%   101,628 100,955 673  0.7% 
Drogerie Stores           35,240 30,876 4,365 14.1%   70,252 62,282 7,970 12.8% 
Other Formats[4]          2,464  2,511  -47  -1.9%   5,295  5,131  163  3.2% 
Number of Tickets, mln       1,243  1,092  151  13.8%   2,346  2,287  59   2.6% 
Convenience Stores         1,051  920   132  14.3%   1,974  1,922  52   2.7% 
Supermarkets            86   78   8   10.0%   164   168   -3   -2.0% 
Drogerie Stores           99   87   12   14.4%   193   181   12   6.5% 
Other Formats            7    7    -1   -10.6%  14   16   -1   -9.3% 
Average Ticket[5], RUB       333   347   -14  -4.2%   342   325   16   5.0% 
Convenience Stores         309   322   -13  -4.0%   316   300   17   5.6% 
Supermarkets            602   643   -41  -6.4%   618   602   17   2.8% 
Drogerie Stores           356   356   -1   -0.2%   364   344   20   5.9% 
Other Formats            356   326   30   9.2%   357   315   42   13.3% Stores and Selling Space 
                    2Q 2021 2Q 2020 Change Change, % 1H 2021 1H 2020 Change Change, % 
Number of Stores (EOP)         22,344 20,894 1,450 6.9%   22,344 20,894 1,450 6.9% 
Convenience Stores           15,348 14,581 767  5.3%   15,348 14,581 767  5.3% 
Supermarkets              469   472   -3   -0.6%   469   472   -3   -0.6% 
Drogerie Stores            6,527  5,841  686  11.7%   6,527  5,841  686  11.7% 
Store Openings (Net)          444   34   410  n/a    780   169   611  361.5% 
Convenience Stores           250   -13   263  n/a    437   -41   478  n/a 
Supermarkets              -2   0    -2   n/a    -1   -1   0   0.0% 
Drogerie Stores            196   47   149  317.0%  344   211   133  63.0% 
Total Selling Space (EOP), th. sq.m  7,748  7,290  458  6.3%   7,748  7,290  458  6.3% 
Convenience Stores           5,275  4,956  320  6.4%   5,275  4,956  320  6.4% 
Supermarkets              943   944   -1   -0.1%   943   944   -1   -0.1% 
Drogerie Stores            1,500  1,350  151  11.2%   1,500  1,350  151  11.2% 
Other formats             30   41   -11  -26.9%  30   41   -11  -26.9% 
Selling Space Addition (Net), th. sq.m 142   14   129  n/a    252   52   200  n/a 
Convenience Stores           106   4    102  n/a    186   4    182  n/a 
Supermarkets              -1   -3   3   n/a    1    -5   6   n/a 
Drogerie Stores            40   11   29   n/a    72   47   25   n/a 
Other formats             -4   2    -5   n/a    -8   5    -13  n/a 2Q and 1H 2021 LFL Results 
          2Q 2021           1H 2021 
          Average Ticket Traffic Sales Average Ticket Traffic Sales 
Total       -4.4%     10.0%  5.2% 4.7%      0.0%  4.7% 
Convenience Stores -4.4%     10.5%  5.7% 5.1%      0.2%  5.3% 

(MORE TO FOLLOW) Dow Jones Newswires

July 29, 2021 02:59 ET (06:59 GMT)

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