Fix Price PJSC · RUS:FIXR
Fix Price PJSC — Fix Price — FY2024 Earnings Presentation
13 slides from Fix Price PJSC's earnings presentation, February 2025
Slide 1: Q4 and FY 2024 Operating and Financial Results
Q4 AND FY 2024 OPERATING AND FINANCIAL RESULTS February 2025
Slide 2: Disclaimer
DISCLAIMER IMPORTANT: This document does not constitute or form part of, and should not be because they relate to events and depend on circumstances that may or may not occur the results of the Company's operations presented under IAS 17 after 1 January 2019 construed as an offer for sale or subscri
Slide 3: Key Achievements in Q4 / 12M 2024
KEY ACHIEVEMENTS IN Q4 / 12M 2024 RUB 87.7bn / 314.9bn 274 / 751 11.9% Revenue Net store openings (1) Loyal customer base growth year-on-year 35.1% / 33.9% RUB 18.2bn / 53.1bn RUB 7.1bn / 22.2bn Gross margin EBITDA Net profit Source: Company information, Audited IFRS accounts for FY 2024; Management
Slide 4: Continuous Store Expansion: Geographical Coverage
CONTINUOUS STORE EXPANSION GEOGRAPHICAL COVERAGE (2023 and 2024, eop) LEGEND KEY RUSSIA NORTH-WESTERN FD(1) SIBERIAN FD(1) Russia (Number of stores) +644 +36 +97 CENTRAL FD(1) +xx 6,400 612 699 796 576 +210 xx 5,756 xx 1,650 1,860 FAR-EASTERN FD(1) +7 SOUTHERN FD(1) 126 +76 119 794 718 URALS FD(1) +
Slide 5: Continuous Store Expansion: Portfolio Growth and Selling Space
CONTINUOUS STORE EXPANSION FIX PRICE STORE PORTFOLIO GROWTH SELLING SPACE EXPANSION(1) (Number of stores) (Thous. sqm) +11.7% +11.5% 7,165 6,414 722 1,551 703 1,391 161 156 6,443 5,711 1,390 1,234 31 December 2023 31 December 2024 31 December 2023 31 December 2024 Company-operated Franchised Company
Slide 6: LFL Performance
LFL PERFORMANCE 2-YEAR STACKED LFL SALES DYNAMICS(1)(2) COMMENTS ON QUARTERLY DYNAMICS LFL Sales (Current Year) LFL Sales (Prior Year) 8.0% • In Q4 2024, LFL sales rose by 2.3%, while the LFL 2-year average ticket increased by 4.1%, and LFL traffic stacked LFL sales 7.2% 5.9% 6.3% 8.0% 3.0% (4.7)% (
Slide 7: Extended CVP and Continued Robust Price Advantage
EXTENDED CVP AND CONTINUED ROBUST PRICE ADVANTAGE 87% OF ASSORTMENT UNDER RUB 199(1)(2) RETAIL SALES MIX(2) % of retail sales % of SKU Q4 2023 Q4 2024 0.1% 0.1% 0.03% 0.3% 4% 15% 19% 8% 16% 25% 27% 18% 14% 13% Food 37% 26% 36% 26% 20% 25% 25% Drogerie 32% 36% 21% 10% 8% 31% 9% 50% 48% Non-food Q4 20
Slide 8: Revenue Growth and Robust Profitability
REVENUE GROWTH AND ROBUST PROFITABILITY TOTAL REVENUE GROSS PROFIT (RUBm) (RUBm) LFL Sales Gross profit (0.9)% 2.3% (4.1)% 1.5% 35.3% 35.1% 34.0% 33.9% dynamics margin + 7.9% 314,938 + 7.6% + 7.4% 291,865 30,083 32,898 + 6.9% 106,746 99,172 87,748 81,669 7,183 30,773 28,794 8,907 284,855 258,967 80,
Slide 9: Revenue Growth and Robust Profitability (Cont'd)
REVENUE GROWTH AND ROBUST PROFITABILITY (CONT’D) ADJUSTED EBITDA (IFRS 16)(1) OPERATING PROFIT (RUBm) (RUBm) Adjusted 19.5% 20.6% 18.6% 17.0% Operating 14.2% 15.7% 13.0% 11.5% EBITDA margin profit margin (IFRS 16) (1.5)% (4.7)% + 13.3% 54,212 53,403 + 18.6% 37,927 36,135 18,055 13,800 15,938 11,632
Slide 10: SG&A Expenses Analysis
SG&A EXPENSES ANALYSIS SG&A BREAKDOWN(1) COMMENTS (% of revenue) • SG&A costs (excl. LTIP(2) and D&A expenses) , decreased by 129 bps y-o-y to 14.7% of IFRS 16 revenue, mainly attributable to the decrease in the share of staff costs, bank charges, security services and advertising costs 22.6% 21.2%
Slide 11: Capital Expenditures to Support Further Growth
CAPITAL EXPENDITURES TO SUPPORT FURTHER GROWTH CAPEX(1) CAPEX COMPOSITION (RUBm) (Q4 2024, %) 12% New stores openings CAPEX 1.9% 4.9% 2.2% 2.8% 37% (% of revenue) RUB DC 4.3bn 51% IT and Other 8,763 COMMENTS 6,558 4,310 • CAPEX for Q4 2024 amounted to 4.3 billion, versus RUB 1.5 billion in Q4 2023,
Slide 12: Net Working Capital Dynamics
NET WORKING CAPITAL DYNAMICS NET TRADE WORKING CAPITAL DEVELOPMENT(1) ROBUST INVENTORY DAYS AND DAYS PAYABLE LEVELS (RUBm) Inventory days(3) (days) and Days payable(4) (days) Inventory days Days payable NTWC as % of revenue (2) 5.0% 7.1% FY 2023 84 FY 2023 67 56,727 47,957 22,321 FY 2024 92 FY 2024
Slide 13: Conservative Debt Level and Solid Cash Flow Generation
CONCERVATIVE DEBT LEVEL AND SOLID CASH FLOW GENERATION NET DEBT / (CASH)(1) FCF DYNAMICS(3) (RUBm) (RUBm) Leverage % of ratio(2) (0.6)x 0.2x revenue 11.2% 6.7% 32,572 11,441 21,045 10 ,0 00 6,808 5, 00 0 12,464 -- 21,131 (5, 000 ) (10 ,00 0) 8,581 (15 ,00 0) (20 ,00 0) (22,644) (25 ,00 0) FY 2023 FY