“Magnit” in the first half of the year increased its net profit under IFRS by 15.9% – Kommersant
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One of the largest Russian retailers, Magnit, has published interim financial statements under IFRS for the first half of 2023 (.pdf). According to the results of the first six months, the net profit of PJSC Magnit amounted to 34.016 billion rubles. Compared to the same period in 2022, the indicator increased by 15.9%.
Gross profit in January-June increased by 6.1% to 280.5 billion rubles. from 264.3 billion rubles. PJSC Magnit’s revenue increased by 8.2% to RUB 1.229 trillion. EBITDA for the first half of the year amounted to 132.424 billion rubles, an increase of 3.1%.
For the second quarter, net profit decreased by 1.1%, to 20.199 billion rubles. EBITDA for April-June increased by 7.5%, to 72.257 billion rubles, and revenue – by 7.5%, to 632.659 billion rubles.
At the beginning of August “Magnet” completed an intermediate stage of buying back own shares from non-resident shareholders in the amount of RUB 37.4 billion, which is 16.6% of all company shares in circulation. Company established the limit for the repurchase of shares of non-residents at the level of 29.8%.
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