Magnit · RUS:MGNT
Magnit — FY2024 Earnings Presentation
48 slides from Magnit's earnings presentation, Apr 28, 2025
Slide 1: Investor Presentation FY 2024 Results
Investor Presentation FY 2024 RESULTS
Slide 2: Disclaimer
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Disclaimer This presentation ("Company Presentation") comprises certain written materials/ No representation or warranty, express or implied, is given by or on behalf of the Certain statements in this Company Pres
Slide 3: Magnit at a Glance
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Magnit at a Glance #1 retailer in Russia by number of stores with unrivalled infrastructure platform Key differentiation 31,483 10,934 51 7,255 Total Number Selling Space, Distribution Trucks points of Stores thou
Slide 4: Geographical Coverage
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Geographical Coverage North Central North Far Caucasus Southern Volga West Urals Siberian Eastern Total 687 4 594 Convenience 20 268 Cities stores 3 138 5 337 5 230 2 323 2 112 1 441 & Towns Magnit 19 Supermarkets
Slide 5: Operating Highlights
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Operating Highlights 1 Net retail sales, RUB bln1 2 Number of stores, EOP 3 Selling space, th. sq. m Net retail sales YoY growth, % Selling space YoY growth, % 3,018 29,165 31,483 10,053 10,934 27,405 9,472 2,509
Slide 6: Financial Performance
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Financial Performance Concise Profit & Loss Core 2022 2023 2024 YoY achievements Sales, bn Rub 2,352.0 2,544.7 3,043.4 +19.6% Gross margin, % 22.8 22.7 22.5 -0.2pp SG&A, % (21.0) (20.1) (20.7) -0.6pp Improvement o
Slide 7: Russian Market Overview
Russian Market Overview Russian Macro Environment • Top-10 Russian Food Retailers and Market Share Breakdown
Slide 8: Russian Macro Environment
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Russian Macro Environment 4.3% 6.0% Real GDP accelerated y-o-y Real food retail sales 1 4 growth accelerated y-o-y in 2024 in 2024. Market leaders are gaining market share Real GDP YoY change, % YoY YoY in FY 2024
Slide 9: Top-10 Russian Food Retailers and Market Share Breakdown
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Top-10 Russian Food Retailers and Market Share Breakdown Magnit is a leading company on the growing Russian food retail market Russian market share breakdown X5 Group 15.6% 100% Magnit 13.2% Mercury Retail 6.2% 45
Slide 10: Strategy
Strategy Our Strategic Ambition • Our Strategy at a Glance Sustainability
Slide 11: Our Strategic Ambition
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Our Strategic Ambition Achieve market leadership through a unique multiformat offering, supported by a broad ecosystem of tech-driven services, all integrated under a single loyalty programme We implement our stra
Slide 12: Our Strategy at a Glance
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Out Strategy at a Glance The Company focuses on continuously enhancing its value proposition for customers and improving the efficiency of internal processes Key focus areas To address structural challenges, we pl
Slide 13: Sustainability Strategic Framework
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Sustainability Strategic Framework To Become #1 Retailer with Purpose in Russia Ambitions 1. 2. 3. 4. 5. Leader Positive impact Fully Improvement of Employer #1 in reducing the on the whole responsible the quality
Slide 14: 2025 Sustainability Commitments
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix 2025 Sustainability Commitments Sustainable Health and 1 Environment 2 sourcing 3 Employees 4 Communities 5 well-being 50% 100% 70% 10% Healthy Private labels and own production packaging to be recyclable, Respons
Slide 15: Magnit Today
Magnit Today Magnit Umbrella Brand • Convenience Store • Supermarket • Drogerie Dixy Convenience Store Other Small Formats and Pilots E-commerce • Own Production & Private Label • Suppliers • Supply Chain • Employees
Slide 16: Magnit Umbrella Brand — Consumer Missions and Formats
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Magnit Umbrella Brand — Consumer Missions and Formats Everything that Core offline formats incl. pharmacies in grocery and drogerie stores New promising ventures matters is close to you Focus Near home Family Extr
Slide 17: Magnit Convenience Store
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Magnit Convenience Store 01 A convenient store for everyday shopping offering a broad range of food and non-food essentials at 3D-tour attractive prices Size of the Store, sq. m Overview Total size, 473 Evening me
Slide 18: Magnit Convenience Store Key Operating Statistics
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Magnit Convenience Store 02 Key operating statistics Store openings Selling space, thousand sq. m Payback period 7,113 Leased 9.0% 87% leased Increase YoY 13% owned 3-4 years CAPEX th RUB Average ticket Number of
Slide 19: Magnit Supermarket
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Magnit Supermarket 01 Comfortable and affordable store offering an extended product range, enhanced service quality, and reasonable prices 3D-tour Overview Evening meals Size of the Store, sq. m Everyday purchases
Slide 20: Magnit Supermarket Key Operating Statistics
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Magnit Supermarket 02 Key operating statistics Store redesign Selling space, thousand sq. m 938 -4.6% Increase YoY 46% leased 54% owned 26 Average ticket Number of tickets LTM - sales density*, CAPEX th RUB (excl.
Slide 21: Magnit Drogerie Store
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Magnit Drogerie Store 01 Store nearby with a wide variety of everyday essentials, including cosmetics, household chemicals, and home goods, offered at affordable prices 3D-tour Size of the Store, sq. m Overview To
Slide 22: Magnit Drogerie Store Key Operating Statistics
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Magnit Drogerie Store 02 Key operating statistics Store openings Selling space, thousand sq. m Payback period 1,834 3.5% Leased 93% leased 7% owned Increase YoY 3-4 years CAPEX th RUB sq. m of selling space Averag
Slide 23: Dixy Convenience Store
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Dixy Convenience Store A convenient and affordable store for everyday shopping Key operating statistics Selling space, thousand sq. m 785 6.2% Size of the Store, sq. m 92% leased Increase YoY 8% owned Total size,
Slide 24: Other Small Formats and Pilots 01
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Appendix Other Small Formats and Pilots 01 M City Magnit Go Convenience Small-size store with a cosy interior and a café area where customers can charge their phones, connect to Kiosks catering to impulse purchase
Slide 25: Other Small Formats and Pilots 02
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Other Small Formats and Pilots 02 Soft Hard discounter discounter My Price First Choice(V1) Pharmacy A no-frills, low-price store with a cosy Technologically advanced and atmosphere and a small yet high-quality in
Slide 26: Roll-Out of E-commerce Across All Missions
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Roll-Out of E-commerce Across All Missions Missions Own service Partners • Magnit delivery Express • Self-pickup available 100.6 bn₽ online GMV1 for FY 2024 Stock-up 189,340 avg. # of orders per day in FY 2024 E-P
Slide 27: Magnit Delivery
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Magnit Delivery Magnit Delivery integrates our own and partner delivery services +81% >26.6 thous. YoY growth in Magnit Delivery orders1 stores covered by the delivery service by year-end3 х2.5 >140 thous.SKUs gro
Slide 28: Magnit Market
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Magnit Market Additional sales channel featuring an extensive product range and a unique value proposition 275 top-3 cities and townships(+124% vs 2023) marketplace by the number of pick-up points in major cities
Slide 29: Private Label & Own Production as Differentiation Pillars
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Private Label & Own Production as Differentiation Pillars Private Label Own production Private Label Share of Revenue Improve own brand portfolio to support to provide exclusive goods with better quality and price
Slide 30: Development of Own Production in 2024
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Development of own production in 2024 Magnit launched a leaf vegetable growing center “Zelen Yuga” The Company received certification for compliance of vegetables, grown at its Green Line greenhouse complex, with
Slide 31: Suppliers
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Suppliers Magnit differentiates its product offering through tailored procurement initiatives, including strategic partnerships with suppliers 5.2 thous. ~2.4 thous. suppliers local suppliers >750 >15 thous. Russi
Slide 32: Partnership with Farmers
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Partnership with farmers The Company actively cooperates with farmers producing unique, high-quality products >166 ~2.5 bln RUB partner farmers turnover of farm products in the retail 24% chain >1.3 thous. 41% 76%
Slide 33: Supply Chain
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Supply Chain Centralization Ratio Southern North Far North Urals Siberian Eastern Caucasus Total FY 2024 Central Volga West 92% Delivered from DC Distribution 8% Centers* 15 12 8 5 4 3 3 1 51 Direct supplies 679 5
Slide 34: Employees
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Appendix Employees 368 thousand Headcount of Employees 45 Distribution 291 9 Regional In-store branches 19 Head Office 5 Other Samberi Dixy Super- Drogerie Convenience formats markets Stores Stores Production & ot
Slide 35: Operating and Financial Results
Operating and Financial Results Key Operating Highlights • Summary Profit & Loss Revenue & Costs • Gross Margin & EBITDA • Balance Sheet Debt Portfolio • CAPEX Analysis • Free Cash Flow
Slide 36: Key Operating Highlights
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Key Operating Highlights Return to parent slide 1 Net retail sales, RUB bln 2 Number of visits, mln A LFL sales growth, % Net retail sales YoY growth, % Number of visits YoY growth, % 12.1 10.7 11.2 12.6 1 569 3 4
Slide 37: Summary Profit & Loss
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Summary Profit & Loss RUB mln pre-IFRS 16 IFRS 16 2024 2023 YoY Growth 2024 2023 YoY Growth Net sales 3,043,434 2,544,689 19.6% 3,043,434 2,544,689 19.6% Cost of sales -2,359,065 -1,967,428 19.9% -2,356,611 -1,965
Slide 38: Revenue & Costs
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Revenue & Costs Revenue SG&A Expense YoY growth, % Structure Dynamics, 3,043.4 % % of sales of SG&A RUB bln 2,544.7 RUB bln 19.6% Total 630.3 20.7% 100.0% Staff costs 278.0 9.1% 44.1% 2023 2024 Rent 126.3 4.1% 20.
Slide 39: Gross Margin & EBITDA
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Gross Margin & EBITDA Pre-IFRS 16 IFRS 16 Gross -20 b.p. Margin Bridge, As % 22,8% 22,7% 22,5% 22,6% of revenue YoY decrease Trading Transport margin -8 b.p. 2022 2023 2024 2024 9,6% EBITDA -89 b.p. Margin Bridge,
Slide 40: Balance Sheet
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Balance Sheet RUB mln ASSETS 31.12.2024 31.12.2023 EQUITY AND LIABILITIES 31.12.2024 31.12.2023 Equity attributable to the Property, plant and equipment 451,406 367,050 shareholders of the parent company 174,275 1
Slide 41: Debt Portfolio
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Debt Portfolio Debt portfolio maturity2 RUB bln 412.2 Low Currency Risk Debt Level Dynamics, No loans denominated in foreign currency RUB bln Short-term debt 948.4 260.4 Long-term debt 894.6 Bonds 867.1 159.5 8% 2
Slide 42: CAPEX Analysis
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix CAPEX Analysis 2024 2023 RUB mln RUB mln Total 160,503 73,413 Construction in progress 25,293 and buildings 69,181 34.5% 43.1% 31,840 Machinery and 43.4% equipment 60,195 37.5% Other 1,005 assets 30,122 Land 0.6%
Slide 43: Free Cash Flow
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Free Cash Flow 273,684 (42,306) (61,846) 2023, RUB mln (26,500) 143,033 (67,091) Working Capital (7,493) (13,657) 54,792 (157,961) Analysis 37 (93,626) Adjusted Change Net Taxes OCF Capex Business Other FCF EBITDA
Slide 44: Appendix
Appendix Russian Macro Environment Operating Data Summary
Slide 45: Russian Macro Environment
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Russian Macro Environment Return to parent slide Real GDP accelerated to 4.3% y-o-y in 2024 Real disposable income grew y-o-y in 2024. 1 2 Inflation in 2024 accelerated y-o-y 3 Unemployment level improved to 2.5%
Slide 46: Operating Data Summary
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Operating Data Summary RUB bln 1Q 2022 2Q 2022 3Q 2022 4Q 2022 FY 2022 1Q 2023 2Q 2023 1H 2023 3Q 2023 4Q 2023 FY 2023 1H 2024 FY 2024 SALES TOTAL 547.7 588.6 594.4 621.3 2,352.0 596.8 632.7 1,229.5 628.5 686.7 2,
Slide 47: Operating Data Summary
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Operating Data Summary 1Q 2022 2Q 2022 3Q 2022 4Q 2022 2022 1Q 2023 2Q 2023 1H 2023 3Q 2023 4Q 2023 2023 1H 2024 2024 LFL sales growth 12.0% 13.1% 13.8% 10.0% 12.1% 6.1% 4.7% 5.4% 3.1% 8.0% 5.5% 10.7% 11.2% Magnit
Slide 48: Contact Information
Russian Market Overview Strategy Magnit Today Operating and Financial Results Appendix Contact Information Magnit Investor Relations Team magnitIR@magnit.ru magnit.com/en 15/2 Solnechnaya Street, Krasnodar, 350072, Russian Federation