Magnit’s share of online sales exceeds 1% of total company revenue
MAGNIT PJSC (MGNT) Magnit’s share of online sales exceeds one percent of total company revenue 29-Oct-2021 / 10:30 MSK Regulatory announcement broadcast, transmitted by EQS Group. The issuer is solely responsible for the content of this advertisement.
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Magnit’s share of online sales exceeds one percent of the company’s TOTAL revenue
Krasnodar, Russia (October 29, 2021): Magnit PJSC (MOEX and LSE: MGNT; the company, Magnit), one of Russia’s leading retailers, reports that the GMV of the company’s e-commerce services has exceeded 1% of total sales of the retailer during the last week of October.
Magnit’s total e-commerce GMV (including VAT) was 2.9 billion rubles in the third quarter, contributing more than half of the nine-month e-commerce GMV of 5.2 billion rubles. Magnit now processes over 50,000 orders per day.
The average ticket across all online services was approx. 969 RUB VAT included. This average ticket was around 2.7 times higher than in convenience stores (356 RUB in 3Q 2021). This was mainly due to a higher number of items per basket. The average ticket within Magnit’s own delivery service was 1,202 RUB.
Magnit has been piloting e-commerce services since the third quarter of 2020. The Company is currently leading a number of online delivery projects, including clean delivery and partnerships (express delivery, regular delivery, e-pharma, cosmetics and partnerships) . The highest sales and the most dynamic growth are exemplified by the express delivery segment where orders are fulfilled within an hour.
Magnit’s e-commerce services today cover more than 2,700 offline stores and 15 dark stores in 64 regions and 267 cities, with 66% of current revenue generated outside of Moscow and St. Petersburg. During the 3rd quarter, the company increased the number of cities covered by 2.5 times. By the end of 2021, Magnit plans to have over 4,000 stores in all formats covered by e-commerce services, including Magnit delivery and partnerships.
« Andrey Lukashevich Magnit's "In less than a year, GMV of the Company's e-commerce services has reached a tangible level. We show E-Commerce excellent growth rates for the Russian e-commerce market, given that, usually, it takes players up to Director several years to achieve such a result. We see the growing customer interest in our online projects and keep scaling this service up across the geography. In many regions we have already become e-commerce » market leaders. One of our main objectives is to be present throughout the whole customer journey and cater to customer needs "in one click." For further information, please contact: Dina Chistyak Head of Investor Relations firstname.lastname@example.org Office: +7 (861) 210 9810 x 15101 Media Inquiries Twitter email@example.com @MagnitIR Note to editors "Magnit" is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2021, Magnit operated 45 distribution centers and 25,315 stores in 3,840 cities and towns throughout 7 federal regions of the Russian Federation. In accordance with the unaudited IFRS 16 management accounts results for 9M 2021, Magnit had revenues of RUB 1,311.5 billion and an EBITDA of RUB 151.4 billion. Magnit's local shares are traded on the Moscow Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB. Forward-looking statements This document contains or may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected sales growth rate and/or store openings are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. Any forward-looking statement is based on information available to Magnit as of the date of the statement. All written or oral forward-looking statements attributable to Magnit are qualified by this caution. Magnit does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances.
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ISIN: US55953Q2021 Category Code: MSCU TIDM: MGNT LEI Code: 2534009KKPTVL99W2Y12 OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State Sequence No.: 125513 EQS News ID: 1244647 End of Announcement EQS News Service =------------------------------------------------------------------------------------
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October 29, 2021 03:30 ET (07:30 GMT)