Fix Price Group Announces Q2 and H1 2024 Financial Results

Fix Price Group PLC has reported its operating and financial results for Q2 and H1 2024. Revenue for Q2 2024 increased by 9.9% year-on-year (y-o-y) to RUB 76.7 billion. Retail revenue climbed by 11.8% to RUB 69.3 billion, while wholesale revenue reached RUB 7.4 billion. Like-for-like (LFL) sales rose by 3.2% y-o-y, bolstered by improved category management and consumer confidence.

The Group added 177 net new stores in Q2 2024, resulting in a total of 6,722 stores. Selling space increased by 37,800 sqm to 1,456,920 sqm. Gross profit grew by 12.4% to RUB 26.0 billion with a gross margin of 34.0%. Adjusted EBITDA under IFRS 16 saw a 2.3% rise to RUB 13.0 billion, maintaining a margin of 16.9%. Net profit stood at RUB 5.8 billion.

For H1 2024, revenue grew by 9.4% y-o-y to RUB 148.4 billion. Retail revenue rose by 10.5% to RUB 132.7 billion, and wholesale revenue inched up to RUB 15.7 billion. LFL sales increased by 1.9%. The Group opened 308 new stores, resulting in 1,456,920 sqm of selling space. Gross profit increased by 9.6% to RUB 49.5 billion. Adjusted EBITDA stood at RUB 22.9 billion with a margin of 15.5%. Net profit for the period was RUB 9.1 billion, albeit impacted by tax expenses on dividend distributions.