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Magnit reports 27.7% total sales growth (13.0% adjusted for Dixy acquisition), 8.6% LFL sales growth and 7.2% EBITDA margin in 3Q 2021

Magnit reports 27.7% total sales growth (13.0% adjusted for Dixy acquisition), 8.6% LFL sales growth and 7.2% EBITDA margin in 3Q 2021

28-Oct-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.
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Magnit Reports 27.7% total sales growth (13.0% adjusted for dixy acquisition), 8.6% LFL Sales Growth and 7.2% EBITDA margin in 3Q 2021



Krasnodar, Russia (October 28, 2021): Magnit PJSC (MOEX and LSE: MGNT; Magnit, the Company), one of Russia's leading retailers, announces its 3Q and 9M 2021 operational and unaudited financial results.







3Q 2021 Key Operational and Financial Highlights

  • Total revenue increased by 27.7% y-o-y to RUB 489.3 billion. Total revenue adjusted for the Dixy acquisition increased by 13.0%;
  • Net retail sales reached RUB 475.5 billion increasing 28.2% y-o-y. Net retail sales growth adjusted for the Dixy acquisition was 13.8%;
  • LFL[1] sales growth of 8.6% driven by 8.3% average ticket growth and 0.3% traffic growth;


lfl sales growth


  • The Company opened 535 stores on gross basis (336 Magnit convenience stores, 194 drogeries and 5 Dixy convenience stores). As part of the Company's ongoing efficiency improvement campaign, 41 stores were closed resulting in a net store addition of 494. On top of the organic expansion Magnit consolidated 2,477 stores under the Dixy brand. As of September 30, 2021 the total store base was 25,315;
  • Selling space increase of 176 thousand sq. m., including selling space of the stores under the Dixy brand, bringing total selling space to 8,723 thousand sq. m. (18.4% y-o-y growth);
  • The Company redesigned 145 stores (113 convenience stores, 22 supermarkets and 10 drogeries). As at September 30, 2021, 75% of convenience stores, 39% of supermarkets and 60% of drogeries are either new or refurbished;
  • Gross profit increased by 26.6% y-o-y to RUB 115.4 billion. Gross profit margin stood at 23.6%;



EBITDA margin



  • EBITDA was RUB 35.0 billion with a 7.2% margin - an improvement q-o-q (flat y-o-y) after Dixy consolidation driven by sales density increase and lower SG&A costs;
  • Net income increased by 41.1% y-o-y to RUB 13.6 billion with a margin of 2.8% vs 2.5% a year ago.









Jan Dunning

Magnit's President

and CEO










"We are very pleased with Magnit's remarkable performance during the third quarter. We completed a unique strategic acquisition which dramatically changed our market positioning. Our initiatives, recognized by customers and supported by the favorable trading environment, resulted in strong net retail sales growth

Författare EQS Newswire