23 February 2021
Lenta Reports Record EBITDA and Net Income in FY 2020
St. Petersburg, Russia, 24 February 2021: Lenta IPJSC (MOEX & LSE: LNTA), one of the largest retail chains in Russia, today published its audited consolidated IFRS accounts for the full year ended 31 December 2020.
A conference call with the Chief Financial Officer to discuss these results is scheduled for later today. Please see the dial-in details at the end of this press release.
FY 2020 Key Financial Highlights1
- Total Sales increased by 6.7% y-o-y to RUB 445.5 billion
- Retail Sales increased by 7.3% y-o-y to RUB 437.5 billion, driven by the strong performance of both Lenta’s core Hypermarket and Supermarket formats
- Gross Profit was RUB 101.5 billion, an increase of 10.7%, which resulted in a Gross Margin of 22.8%, an improvement of 83 bps y-o-y
- SG&A expenses decreased as a percentage of sales to 18.3%, an improvement of 3 bps y-o-y
- EBITDA reached an all-time high of RUB 39.3 billion, a 15.8% increase y-o-y, and EBITDA Margin rose by 69 bps to 8.8%
- Net Income grew to RUB 17.4 billion, compared to a Net Loss of RUB 2.1 billion in the previous year, and Net Income Margin increased to 3.9%
- CapEx stood at RUB 7.6 billion, down 46% y-o-y
- Net Cash from Operating Activities was RUB 27.3 billion, down 12.3% y-o-y
- Net Debt to EBITDA ratio decreased to 1.5x from 2.3x in FY 2019
FY 2021 Outlook
Lenta will provide detailed guidance for FY 2021 at the company’s Capital Markets Day on the 18th of March 2021.
FY 2020 IFRS Results Conference Call
Lenta will host an investor and analyst conference call at 17:00 Moscow time (14:00 London,
09:00 New York), on Wednesday, 24 February 2021. On the call will be Rud Pedersen (CFO) and Tim Post (IRO).
To participate in the conference call, please use the following dial-in details:
Conference ID: 1920893 (“Lenta FY 2020 IFRS Results Conference Call”)
+7 495 646 9190 (local access)
8 10 800 2867 5011 (toll-free)
+ 44 (0)330 336 9411 (local access)
0800 279 7204 (toll-free)
+ 1 929-477-0402 (local access)
Participants are encouraged to register approximately 5-10 minutes prior to the start of the call.
For further information, please visit www.lentainvestor.com or contact:
Head of Public Relations and Government Affairs email@example.com
Investor Relations Officer firstname.lastname@example.org
EM (International Media Inquiries)
Lenta is the largest hypermarket chain in the Russian Federation and the fourth largest food retailer. The Company was founded in 1993 in St. Petersburg and as of December 31, 2020 operated 254 hypermarkets and 139 supermarkets in 88 cities across Russia with more than 1.5 million square meters of Selling Space. The average Lenta hypermarket has approximately 5,500 square meters of selling space, while the Lenta supermarket averages 800 square meters. The company operates 13 distribution centers throughout Russia. Lenta is listed on both the London Stock Exchange and Moscow Exchange, trading under the ticker: 'LNTA'.
This announcement includes statements that are, or may be deemed to be, "forward-looking statements." These forward-looking statements can be identified by the fact that they do not only relate to historical or current events. Forward-looking statements often use words such as "anticipate," "target," "expect," "estimate," "intend," "expected," "plan," "goal," "believe," or other words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, a number of which are beyond Lenta's control. As a result, actual future results may differ materially from the plans, goals, and expectations set out in these forward-looking statements. Any forward-looking statements made by or on behalf of Lenta speak only as of the date of this announcement. Except as required by any applicable laws or regulations, Lenta undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this document that may occur due to any change in its expectations or to reflect events or circumstances after the date of this document.
1. Please note that all Financial Highlights are based upon IAS 17 figures.