Slide 1: Q4 and 12M 2022 Operating and Financial Results
Q4 AND 12M 2022 OPERATING AND FINANCIAL RESULTS February 2023
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 Financials & Operational Targets
KEY FINANCIALS & OPERATIONAL TARGETS Key metric IPO guidance 2021 fact 2022 fact Net store openings(1) ~700 in 2021, ~750 in 2022 ✓ 737 ✓ 759 LFL(2) growth ~10% area in 2021-2022 ✓ 9.0%(3) ✓ 10.1% 19.2%, unchanged from the average level for FY 2019-2020, ✓ ✓ Consistent with latest historical perform
Slide 4: Key Achievements in Q4 / 12M 2022
KEY ACHIEVEMENTS IN Q4 / 12M 2022 13.9% / 20.5% 201 / 759 5.2% / 11.0% Revenue growth Net store openings(1) Adj. LFL sales year-on-year growth (2) RUB 15bn / RUB 54bn 19.9% / 19.5% 28.7% EBITDA EBITDA margin Loyal customer base growth year-on-year Source: Company information, Management Accounts for
Slide 5: Continuous Store Expansion
CONTINUOUS STORE EXPANSION GEOGRAPGICAL COVERAGE (2021 and 2022, eop) Russia LEGEND KEY RUSSIA SIBERIAN FD(1) (Number of stores) +653 +83 CENTRAL FD(1) +xx 595 +177 xx 5,098 xx 512 1,468 4,445 1,291 NORTH-WESTERN FD(1) SOUTHERN FD(1) +60 +84 521 461 636 552 FAR-EASTERN FD(1) VOLGA FD(1) +23 +136 100
Slide 6: Continuous Store Expansion
CONTINUOUS STORE EXPANSION FIX PRICE STORE PORTFOLIO GROWTH SELLING SPACE EXPANSION (Number of stores) (Thous. sqm) +15.9% +15.5% 1,225 5,663 138 1,057 4,904 624 118 536 1,087 5,039 938 4,368 31 December 2021 31 December 2022 31 December 2021 31 December 2022 Company-operated Franchised Company-oper
Slide 7: LFL Performance
LFL PERFORMANCE LFL SALES (1) REMAINED STRONG DRIVEN BY COMPELLING CVP COMMENTS ON QUARTERLY DYNAMICS Adjusted for the rouble • LFL sales increased by 3.9% y-o-y (by 5.2% appreciation(2) adjusted for the rouble appreciation effect) 15.7% 15.4% Adjusted for the • The LFL average ticket was up 8.3% y-
Slide 8: Extended CVP and Continued Robust Price Advantage
EXTENDED CVP AND CONTINUED ROBUST PRICE ADVANTAGE 84% OF ASSORTMENT UNDER RUB 100(1) RETAIL SALES MIX % of retail sales % of SKU Q4 2021 Q4 2022 0.4% 0.1% 1.3% 0.1% 4% 12% 15% 11% 11% 27% 26% 20% 20% Food 24% 47% 45% 43% 20% 25% Drogerie 48% 22% 24% 37% 53% 48% 12% Non-food Q4 2021 Q4 2022 Q4 2021 Q
Slide 9: Strong Revenue Growth and Robust Profitability
STRONG REVENUE GROWTH AND ROBUST PROFITABILITY TOTAL REVENUE GROSS PROFIT (RUBm) (RUBm) LFL Sales growth Gross profit margin 10.1% 32.9% 34.0% 31.8% 33.1% 3.2% 3.9% 7.2% + 20.5% + 25.3% 277,644 91,994 31,432 230,473 73,400 + 13.9% 27,145 + 17.9% 75,757 25,789 66,507 8,406 21,866 7,421 246,212 203,32
Slide 10: Strong Revenue Growth and Robust Profitability (Cont'd)
STRONG REVENUE GROWTH AND ROBUST PROFITABILITY (CONT’D) EBITDA (IFRS 16) OPERATING PROFIT (RUBm) (RUBm) EBITDA margin (IFRS 16 ) Operating profit margin 20.1% 19.9% 19.2% 19.5% 15.5% 15.3% 14.0% 14.8% + 22.7% + 27.0% 54,198 41,060 44,155 32,326 + 12.8% + 12.9% 15,071 11,623 13,363 10,294 Q4 2021 Q4
Slide 11: SG&A Expenses Analysis
SG&A EXPENSES ANALYSIS SG&A BREAKDOWN COMMENTS (% of revenue) • Selling, general and administrative expenses (SG&A) excluding D&A grew by 139 bps y-o-y to 14.6% of revenue in Q42022 on the back of the increase in the shares of staff costs, bank IFRS 16 charges, security services, rental and other ex
Slide 12: Capital Expenditures to Support Further Growth
CAPITAL EXPENDITURES TO SUPPORT FURTHER GROWTH CAPEX(1) CAPEX COMPOSITION (RUBm) (Q4 2022, %) 19% 14% New stores openings CAPEX 2.7% 4.3% 1.6% 8.6% (% of revenue) RUB DC 6.5bn IT and Other 68% 12,015 COMMENTS 6,518 • CAPEX for Q4 2022 amounted to RUB 6.5 billion, up from RUB 1.1 billion 6,279 in Q4
Slide 13: Net Working Capital Dynamics
NET WORKING CAPITAL DYNAMICS NET TRADE WORKING CAPITAL DEVELOPMENT(1) ROBUST INVENTORY DAYS AND DAYS PAYABLE LEVELS (RUBm) Inventory days(2) (days) and Days payable(3) (days) % of Inventory days Days payable 3.4% 3.3% revenue 12M 2021 78 12M 2021 71 41,020 40,566 12M 2022 80 12M 2022 68 7,946 9,075
Slide 14: Conservative Debt Level and Superior Cash Flow Generation
CONCERVATIVE DEBT LEVEL AND SUPERIOR CASH FLOW GENERATION NET DEBT / (CASH)(1) FCF DYNAMICS(3) (RUBm) (RUBm) Leverage % of ratio(2) 0.5x 0.4x (0.04)x revenue 16.1% 13.1% 15.6% 43,276 9,903 30,628 30,290 14000 13500 12,963 12,744 13000 7,518 12500 9,197 12000 11500 11000 10500 10000 9500 9000 8500 80