Magnit Announces 35% Retail Sales Growth in Rubles for December 2012
OREANDA-NEWS. January 15, 2013. OJSC “Magnit” (the “Company”; MICEX and LSE: MGNT) announces 35% retail sales growth in rubles for December 20121.
During 12M 2012 the Company opened (net) 1,575 stores. The total store base reached 6,884 stores (6,046 convenience stores, 126 hypermarkets, 20 “Magnit Family” stores and 692 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 12M 2012 increased by 33.63% in ruble terms (compared to 12M 2011) and stood at 448,486.20 million rubles.
December 2012 Key Operating and Financial Highlights:
December 2012 |
December 2011 |
Growth Rate | |
Number of opened stores, NET |
407 |
286 |
n/a |
convenience stores |
293 |
223 |
n/a |
hypermarkets |
13 |
13 |
n/a |
magnit family |
3 |
0 |
n/a |
cosmetics stores |
98 |
50 |
n/a |
Total number of stores |
6,884 |
5,309 |
n/a |
convenience stores |
6,046 |
5,006 |
n/a |
hypermarkets |
126 |
90 |
n/a |
magnit family |
20 |
3 |
n/a |
cosmetics stores |
692 |
210 |
n/a |
Selling space, thousand sq. m. |
2,549.26 |
1,970.16 |
29.39% |
convenience stores |
1,977.46 |
1,637.83 |
20.74% |
hypermarkets |
387.62 |
278.45 |
39.21% |
magnit family |
24.36 |
3.80 |
n/a |
cosmetics stores |
159.83 |
50.09 |
n/a |
Number of customers, million |
196.11 |
162.30 |
20.83% |
convenience stores |
175.30 |
149.91 |
16.94% |
hypermarkets |
15.35 |
10.73 |
43.01% |
magnit family |
1.81 |
0.29 |
n/a |
cosmetics stores |
3.65 |
1.37 |
n/a |
Net retail sales, million RUR |
51,779.25 |
38,472.95 |
34.59% |
convenience stores |
39,895.20 |
31,254.32 |
27.65% |
hypermarkets |
10,129.09 |
6,759.60 |
49.85% |
magnit family |
732.01 |
112.47 |
n/a |
cosmetics stores |
1,022.96 |
346.55 |
n/a |
Net retail sales, million US\\$ |
1,684.38 |
1,223.11 |
37.71% |
convenience stores |
1,297.79 |
993.62 |
30.61% |
hypermarkets |
329.50 |
214.90 |
53.33% |
magnit family |
23.81 |
3.58 |
n/a |
cosmetics stores |
33.28 |
11.02 |
n/a |
4Q and 12M 2012 Key Operating and Financial Highlights:
4Q 2012 |
4Q 2011 |
Growth Rate |
12M 2012 |
12M 2011 |
Growth Rate | |
Number of opened stores, NET |
765 |
542 |
n/a |
1,575 |
1,254 |
n/a |
conveni ence stores |
523 |
413 |
n/a |
1,040 |
1,004 |
n/a |
hypermarkets |
21 |
17 |
n/a |
36 |
40 |
n/a |
magnit family |
9 |
0 |
n/a |
17 |
2 |
n/a |
cosmeti cs stores |
212 |
112 |
n/a |
482 |
208 |
n/a |
Total number of stores |
6,884 |
5,309 |
n/a |
6,884 |
5,309 |
n/a |
conveni ence stores |
6,046 |
5,006 |
n/a |
6,046 |
5,006 |
n/a |
hypermarkets |
126 |
90 |
n/a |
126 |
90 |
n/a |
magnit family |
20 |
3 |
n/a |
20 |
3 |
n/a |
cosmeti cs stores |
692 |
210 |
n/a |
692 |
210 |
n/a |
Selling space, thousand sq. m. |
2,549.26 |
1,970.16 |
29.39% |
2,549.26 |
1,970.16 |
29.39% |
conveni ence stores |
1,977.46 |
1,637.83 |
20.74% |
1,977.46 |
1,637.83 |
20.74% |
hypermarkets |
387.62 |
278.45 |
39.21% |
387.62 |
278.45 |
39.21% |
magnit family |
24.36 |
3.80 |
n/a |
24.36 |
3.80 |
n/a |
cosmeti cs stores |
159.83 |
50.09 |
n/a |
159.83 |
50.09 |
n/a |
Number of customers, million |
549.44 |
445.77 |
23.26% |
2,033.43 |
1,644.43 |
23.66% |
conveni ence stores |
497.07 |
415.46 |
19.64% |
1,863.62 |
1,550.28 |
20.21% |
hypermarkets |
39.47 |
26.81 |
47.22% |
137.69 |
87.97 |
56.53% |
magnit family |
4.34 |
0.82 |
n/a |
8.87 |
2.20 |
n/a |
cosmeti cs stores |
8.56 |
2.68 |
n/a |
23.25 |
3.98 |
n/a |
Net retail sales, million RUR |
129,153.84 |
95,500.24 |
35.24% |
448,486.20 |
335,607.39 |
33.63% |
conveni ence stores |
102,481.13 |
79,660.18 |
28.65% |
364,236.40 |
287,731.79 |
26.59% |
hypermarkets |
22,881.23 |
14,925.23 |
53.31% |
75,418.70 |
46,185.07 |
63.30% |
magnit family |
1,583.85 |
286.17 |
n/a |
3,098.58 |
797.71 |
n/a |
cosmeti cs stores |
2,207.63 |
628.66 |
n/a |
5,732.51 |
892.82 |
n/a |
Net retail sales, million US\\$ |
4,155.97 |
3,057.93 |
35.91% |
14,424.02 |
11,420.11 |
26.30% |
conveni ence stores |
3,297.68 |
2,550.73 |
29.28% |
11,714.42 |
9,790.99 |
19.64% |
hypermarkets |
736.28 |
477.91 |
54.06% |
2,425.58 |
1,571.59 |
54.34% |
magnit family |
50.97 |
9.16 |
n/a |
99.66 |
27.14 |
n/a |
cosmeti cs stores |
71.04 |
20.13 |
n/a |
184.37 |
30.38 |
n/a |
LFL results
LFL growth 4Q 2012 - 4Q 2011 |
Convenience stores |
Hypermarkets |
Total |
Average ticket (excluding VAT), RUR |
7.60% |
6.19% |
7.83% |
Traffic |
0.38% |
4.93% |
0.62% |
Revenue, RUR |
8.01% |
11.43% |
8.50% |
LFL growth 12M 2012 to 12M 2011 |
Convenience stores |
Hypermarkets |
Total |
Average ticket (excluding VAT), RUR |
5.73% |
3.23% |
5.63% |
Traffic |
(0.46)% |
2.07% |
(0.35)% |
Revenue, RUR |
5.25% |
5.36% |
5.26% |
Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX: MGNT) is the holding company for a group of entities that operate in the retail trade under the “Magnit” brand. The chain of “Magnit” stores is one of the leading food retail networks in Russia. As of December 31, 2012 the chain consisted of 6,046 convenience stores, 126 hypermarkets, 20 “Magnit Family” stores and 692 cosmeti cs stores (drogeri e) in 1,605 citi es and towns throughout the Russi an Federati on.
Approximately two-thirds of the Magnit's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions.
As of December 31, 2012 Magnit operated an in-house logistics system consisting of 18 distribution centers, employing automated stock replenishment systems and a fleet of 4,401 vehicles.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2012, the Magnit recorded consolidated revenues of approximately \\$6.7 billion USD and a consolidated EBITDA of \\$671 million USD.
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