Fix Price PJSC · RUS:FIXR
Fix Price PJSC — Fix Price — Q1 2025 Earnings Presentation
13 slides from Fix Price PJSC's earnings presentation, April 2025
Slide 1: Q1 2025 Operating and Financial Results
Q1 2025 OPERATING AND FINANCIAL RESULTS April 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 Q1 2025
KEY ACHIEVEMENTS IN Q1 2025 RUB 74.4bn 117 13.1% Revenue Net store openings (1) Loyal customer base growth year-on-year 33.3% RUB 10.0bn RUB 3.4bn Gross margin EBITDA Net profit Source: Company information, Management accounts for Q1 2025 Notes: 1 Including Company-operated and franchise stores Q1 2
Slide 4: Continuous Store Expansion
CONTINUOUS STORE EXPANSION GEOGRAPHICAL COVERAGE (2024 and 3М 2025, eop) LEGEND KEY RUSSIA NORTH-WESTERN FD(1) SIBERIAN FD(1) Russia (Number of stores) +99 +2 +16 CENTRAL FD(1) +xx 6,499 614 812 612 796 +33 xx 6,400 xx 1,860 1,893 FAR-EASTERN FD(1) +2 SOUTHERN FD(1) +11 126 128 794 805 URALS FD(1) +
Slide 5: Continuous Store Expansion
CONTINUOUS STORE EXPANSION FIX PRICE STORE PORTFOLIO GROWTH SELLING SPACE EXPANSION(1) (Number of stores) (Thous. sq. m) +11.3% +11.0% 7,282 6,545 721 1,575 709 1,419 160 158 6,561 5,836 1,415 1,262 31 March 2024 31 March 2025 31 March 2024 31 March 2025 Company-operated Franchised Company-operated
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) • In Q1 2025, adjusted LFL sales grew by 1.6%, due 2-year to the LFL average ticket increase by 3.1% and LFL stacked LFL sales 5.9% 6.3% 8.0% 3.0% (4.7)% (5.0)% (2.8
Slide 7: Extended CVP and Continued Robust Price Advantage
EXTENDED CVP AND CONTINUED ROBUST PRICE ADVANTAGE 83% OF ASSORTMENT UNDER RUB 199(1)(2)(3) RETAIL SALES MIX(2) % of retail sales % of SKU Q1 2024 Q1 2025 0.1% 0.2% 0.3% 15% 20% 12% 17% 15% 26% 30% 17% 12% 12% Food 22% 32% 22% 31% 26% 26% Drogerie 38% 28% 39% 26% 10% 8% 13% 10% 49% 45% Non-food Q1 20
Slide 8: Revenue Growth and Robust Profitability
REVENUE GROWTH AND ROBUST PROFITABILITY TOTAL REVENUE GROSS PROFIT (RUBm) (RUBm) LFL Sales (1) Gross profit 0.4% 0.4% 32.7% 33.3% dynamics margin + 3.9% + 5.8% 74,444 71,684 5,753 24,800 23,434 8,335 68,691 63,349 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Retail Wholesale Source: Management accounts for Q1 20
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 13.9% 13.7% Operating 8.0% 7.5% EBITDA margin profit margin (IFRS 16) + 2.3% 9,988 10,215 (2.9)% 5,730 5,561 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Source: Management accounts for Q1 2024 a
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), increased by 254 bps y-o-y to 21.5% of IFRS 16 revenue, mainly due to higher staff costs, repair and maintenance costs, utilities and other expenses 27.8% 0.2% 24.9% 3.5% • Staff costs exc
Slide 11: Capital Expenditures to Support Further Growth
CAPITAL EXPENDITURES TO SUPPORT FURTHER GROWTH CAPEX(1) CAPEX COMPOSITION (RUBm) (Q1 2025, %) New stores openings 30% CAPEX 1.9% 3.0% 39% (% of revenue) RUB DC 2.2bn IT and Other 31% COMMENTS 2,206 • CAPEX for Q1 2025 amounted to 2.2 billion, versus RUB 1.4 billion in Q1 2024, driven by investment i
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) 5.4% 7.1% 7.9% Q1 2024 92 Q1 2024 68 55,859 56,727 49,632 25,229 Q1 2025
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) (0.3)x 0.2x revenue 2.8% 6.7% 2.2% 0.2x 21,045 8,321 12,464 6,808 10 ,0 00 5, 00 0 -- 2,012 1,648 (5, 000 ) 8,581 3,017 3,328 (1,005) (10 ,00 0) (1,680) (13,203) (15 ,00 0