Slides
Page 1
Fix Price Group PLC 1H 2025 AUGUST 2025 Leading variety value retailer in Russia
Page 2
Disclaimer 2 IMPORTANT: This document does not constitute or form part of, and should not be construed as an offer for sale or subscription of or a solicitation or invitation of any offer to subscribe for or purchase any loans or securities of the Company or any other member of the Group or any other entity in any jurisdiction, and nothing contained therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever, in particular, it must not be used in making any investment decision. No representation, warranty or undertaking, express or implied, is made by the Company or any of the Company’s respective affiliates or any of its of their respective directors, officers, employees or agents (“Representatives”) or any other person as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of this document or the opinions contained therein or any other statement made or purported to be made in connection with the Company or the Group, for any purpose whatsoever, including but not limited to any investment considerations. No responsibility, obligation or liability whatsoever, whether arising in tort, contract or otherwise, is or will be accepted by the Company or any of its respective Representatives or any other person for any loss, cost or damage howsoever arising from any use of this document, or for information or opinions or for any errors, omissions or misstatements contained therein or otherwise arising in connection therewith. This document is subject to updating, revision, amendment, verification, correction, completion and change without notice. In providing access to this document, none of the Company or any of their respective Representatives or any other person undertakes any obligation to provide the attendee or recipient with access to any additional information or to update this document or to correct any inaccuracies in this document, including any financial data or forward-looking statements. This document should be considered in the context of the circumstances prevailing at the time and has not been, and will not be, updated to reflect material developments which may occur after the date thereof. This document may constitute or include forward-looking statements. Forward- looking statements are statements that are not historical facts and may be identified by words such as “plans”, “targets”, “aims”, “believes”, “expects”, “anticipates”, “intends”, “estimates”, “will”, “may”, “continues”, “should” and similar expressions. These forward-looking statements reflect, at the time made, the Company’s beliefs, intentions and current targets/aims concerning, among other things, the Company’s or the Group’s results of operations, financial condition, liquidity, prospects, growth and strategies. Forward-looking statements include statements regarding: objectives, goals, strategies, outlook and growth prospects; future plans, events or performance and potential for future growth; liquidity, capital resources and capital expenditures; economic outlook and industry trends; developments of the Company’s or the Group’s markets; the impact of regulatory initiatives; and the strength of the Company’s or any other member of the Group’s competitors. Forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The forward-looking statements in this document are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in the Company’s records (and those of other members of the Group) and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Forward-looking statements are not guarantees of future performance and such risks, uncertainties, contingencies and other important factors could cause the actual outcomes and the results of operations, financial condition and liquidity of the Company and other members of the Group or the industry to differ materially from those results expressed or implied in this document by such forward-looking statements. No representation or warranty is made that any of these forward-looking statements or forecasts will come to pass or that any forecast result will be achieved. Undue influence should not be given to, and no reliance should be placed on, any forward-looking statement. No statement in this document is intended to be nor may be construed as a profit forecast. To the extent available, the industry, market and competitive position data contained in this document come from official or third party sources. Third party industry publications, studies and surveys generally state that the data contained therein have been obtained from sources believed to be reliable, but that there is no guarantee of the accuracy or completeness of such data. While the Company believes that each of these publications, studies and surveys has been prepared by a reputable source, none of the Company or any of its Representatives has independently verified the data contained therein. In addition, certain of the industry, market and competitive position data contained in this document come from the Company’s own internal research and estimates based on the knowledge and experience of the Company’s management in the markets in which the Company and the other members of the Group operate. While the Company believes that such research and estimates are reasonable, they, and their underlying methodology and assumptions, have not been verified by any independent source for accuracy or completeness and are subject to change and correction without notice. Accordingly, reliance should not be placed on any of the industry, market or competitive position data contained in this document. Some of the Company's historical financial data for the periods following 1 January 2019 are presented herein under IAS 17 standard in addition to being presented under IFRS 16 standard, the lease standard under the IFRS that the Company started applying beginning on 1 January 2019. Presentation herein under IAS 17 for the periods following 1 January 2019 is primarily due to the fact that the Company believes that the investment community continues to focus on IAS 17 in analysing performance of retail companies. The results of the Company's operations presented under IAS 17 following 1 January 2019, however, are shown only for illustrative purposes. You should note that the results of the Company's operations presented under IAS 17 after 1 January 2019 have not been audited or reviewed by the Company's independent auditors. In addition, the Company reserves the right to change its approach to presentation of its results of operations going forward. Therefore, you are strongly cautioned not to rely on the results of the Company's operations presented under IAS 17. Furthermore, certain companies mentioned in this presentation, report under generally accepted accounting principles in the United States ("U.S. GAAP") or other local accounting standards. IFRS differ in certain significant respects from U.S. GAAP and such local accounting standards. Therefore, financial measures of such companies presented herein on the basis of such accounting principles and standards could be significantly different were such companies to report under IFRS. You should, therefore, consult your own advisors for an understanding of the differences between IFRS and other accounting principles, including U.S. GAAP, and how these differences might affect the financial information herein. Furthermore, certain financial measures presented herein (including EBITDA and ROIC) are unaudited supplementary measures of the Company's performance that are not required by, or presented in accordance with, IFRS, including financial measures for the periods after 1 January 2019 presented under IAS 17. The Company's use and definition of these metrics may vary from other companies in the Company's industry due to differences in accounting policies or differences in the calculation methodology as different companies use such measures for differing purposes that reflect the circumstances of those companies. These non- IFRS measures have limitations and should not be considered in isolation, or as substitutes, for financial information as reported under IFRS. Accordingly, undue reliance should not be placed on these non-IFRS measures presented herein. The existing listing of the Company’s GDRs on the Astana International Exchange (AIX) under the symbol “FIXP.Y” is expected to continue. Astana International Exchange will remain the primary listing venue for the Company’s GDRs.
Page 3
Fix Price Group PLC: H1 2025 financial and operational results 3 33.3% Key highlights YTD 154.5 RUB bn Net profit 6.2 RUB bn Revenue Gross profit Adjusted EBITDA(1) 51.4 RUB bn 20.7 RUB bn Gross margin Adjusted EBITDA margin 13.4%299 Net openings +13.8% Loyalty program members The completion of the exchange of GDRs for shares of PJSC Fix Price and the commencement of trading on the Moscow Exchange incl. 5 franchise stores YoY Source: Interim Condensed Consolidated financial Information for the Six Months Ended 30 June 2025 Notes: (1) EBITDA adjusted for LTIP expense. EBITDA is calculated as profit for the respective period before income tax expense, net interest income / (expense), deprecia tion and amortisation expense and foreign exchange gain / (loss) 1 GDR = 158 shares Attractive exchange ratio reflecting PJSC Fix Price’s share in the Group’s total assets 81% Share of PJSC Fix Price in the Group’s EBITDA (IAS 17) for H1 2025 Full financial and operational details are available in PJCS Fix Price’s standalone presentation
Page 4
1,296 1,390 1,453 161 161 162 1,457 1,551 1,615 1П 2024 2024 1П 2025 5,998 6,443 6,737 724 722 727 6,722 7,165 7,464 1П 2024 2024 1П 2025 Fix Price store portfolio growth 4 Number of stores (as of period end), units 299 for 6M Х Net openings for the period, units(1) +11% Selling space (as of period end), sq. m(2) Selling space expansion Source: Company data Notes: (1) Net openings, including company-operated stores and franchise outlets in Russia and other markets , where the Company operates; (2) Total may not be equal the sum of the components due to rounding Company-operated stores Franchise stores 751 for 12M 308 for 6M +11% Fix Price maintains a strong network expansion pace H1 2024 H1 2025FY 2024 H1 2024 H1 2025FY 2024
Page 5
133 143 16 11 148 155 1П 2024 1П 2025 Total revenue Gross profit margin 5 RUB bn (1) +4.1% Retail revenue Wholesale revenue Source: Interim Condensed Consolidated financial Information for the Six Months Ended 30 June 2025 Notes: (1) Total may not be equal the sum of the components due to rounding Х Gross profit Revenue growth and maintenance of consistently high gross margin in H1 2025 33.3% 33.3% 1П 2024 1П 2025 -5bps 49.5 RUB bn 51.4 RUB bn +4.0% % H1 2024 H1 2025 H1 2024 H1 2025
Page 6
10.4% 7.9% 15.2% 13.3% 1П 2024 1П 2025 EBITDA margin Net profit margin 6Source: Interim Condensed Consolidated financial Information for the Six Months Ended 30 June 2025 Notes: (1) Total may not be equal the sum of the components due to rounding Х Net Profit EBITDA under temporary pressure owing to competitive labor market environment % 15.5 RUB bn 12.2 RUB bn 22.5 RUB bn 20.5 RUB bn IFRS 16 IAS 17 x EBITDA IAS 17x EBITDA IFRS 16 % 6.1% 4.0% 1П 2024 1П 2025 9.1 RUB bn 6.2 RUB bn H1 2024 H1 2025 H1 2024 H1 2025
Page 7
Appendix
Page 8
Store base, geographical coverage and selling space 8Source: Company data 30 June 2025 31 Dec 2024 30 June 2024 Total number of stores 7,464 7,165 6,722 Russia 6,652 6,400 6,021 Kazakhstan 368 337 304 Belarus 351 335 309 Latvia 43 44 45 Uzbekistan 24 24 23 Kyrgyzstan 7 6 5 Georgia 6 6 7 Armenia 5 5 4 Mongolia 4 4 4 UAE 4 4 - Number of Company-operated stores 6,737 6,443 5,998 Russia 6,048 5,798 5,412 Kazakhstan 351 320 287 Belarus 338 325 299 Number of franchise stores 727 722 724 Russia 604 602 609 Latvia 43 44 45 Uzbekistan 24 24 23 Kazakhstan 17 17 17 Belarus 13 10 10 Kyrgyzstan 7 6 5 Georgia 6 6 7 Armenia 5 5 4 Mongolia 4 4 4 UAE 4 4 - Selling space (sq. m) 1,615,234 1,550,559 1,456,920 Company-operated stores 1,453,485 1,389,973 1,295,981 Franchise stores 161,748 160,586 160,940
Page 9
Statement of comprehensive income highlights 9Source: Company data, Interim Condensed Consolidated financial Information for the Six Months Ended 30 June 2025 Notes: (1) EBITDA adjusted for LTIP expense RUB million Q2 2025 Q2 2024 Change H1 2025 H1 2024 Change Revenue 80,073 76,707 4.4% 154,517 148,391 4.1% Retail revenue 74,595 69,312 7.6% 143,286 132,661 8.0% Wholesale revenue 5,478 7,395 (25.9)% 11,231 15,730 (28.6)% Cost of sales (53,433) (50,660) 5.5% (103,077) (98,910) 4.2% Gross profit 26,640 26,047 2.3% 51,440 49,481 4.0% Gross margin, % 33.3% 34.0% (69) bps 33.3% 33.3% (5) bps SG&A (excl. LTIP and D&A) (16,300) (13,245) 23.1% (32,313) (26,844) 20.4% Other op. income and share of profit of associates 186 151 23.2% 1,614 304 430.9% Adjusted EBITDA(1) 10,526 12,953 (18.7)% 20,741 22,941 (9.6)% Adjusted EBITDA margin, % 13.1% 16.9% (374) bps 13.4% 15.5% (204) bps EBITDA 10,503 12,772 (17.8)% 20,544 22,545 (8.9)% EBITDA margin, % 13.1% 16.7% (353) bps 13.3% 15.2% (190) bps D&A (4,711) (4,219) 11.7% (9,191) (8,262) 11.2% Operating profit 5,792 8,553 (32.3)% 11,353 14,283 (20.5)% Operating profit margin, % 7.2% 11.2% (392) bps 7.3% 9.6% (228) bps Net finance costs (1,335) (229) 483.0% (2,719) (208) 1,207.2% FX loss, net (578) (769) (24.8)% (295) (710) (58.5)% Profit before tax 3,879 7,555 (48.7)% 8,339 13,365 (37.6)% Income tax expense (1,143) (1,745) (34.5)% (2,168) (4,265) (49.2)% Profit for the period 2,736 5,810 (52.9)% 6,171 9,100 (32.2)% Net profit margin, % 3.4% 7.6% (416) bps 4.0% 6.1% (214) bps
Page 10
10Source: Interim Condensed Consolidated financial Information for the Six Months Ended 30 June 2025 The total may not equal the sum of the components due to rounding Selling, general and administrative expenses RUB million Q2 2025 Q2 2024 Change H1 2025 H1 2024 Change Staff costs (excl. LTIP) 13,331 10,173 31.0% 26,362 20,692 27.4% % of revenue 16.6% 13.3% 339 bps 17.1% 13.9% 312 bps Bank charges 621 801 (22.5)% 1,219 1,693 (28.0)% % of revenue 0.8% 1.0% (27) bps 0.8% 1.1% (35) bps Rental expense 439 456 (3.7)% 785 809 (3.0)% % of revenue 0.5% 0.6% (5) bps 0.5% 0.5% (4) bps Security services 378 523 (27.7)% 814 1,029 (20.9)% % of revenue 0.5% 0.7% (21) bps 0.5% 0.7% (17) bps Advertising costs 151 277 (45.5)% 403 580 (30.5)% % of revenue 0.2% 0.4% (17) bps 0.3% 0.4% (13) bps Repair and maintenance costs 367 305 20.3% 726 573 26.7% % of revenue 0.5% 0.4% 6 bps 0.5% 0.4% 8 bps Utilities 281 234 20.1% 601 506 18.8% % of revenue 0.4% 0.3% 5 bps 0.4% 0.3% 5 bps Other expenses 732 476 53.8% 1,403 962 45.8% % of revenue 0.9% 0.6% 29 bps 0.9% 0.6% 26 bps SG&A (excl. LTIP and D&A) 16,300 13,245 23.1% 32,313 26,844 20.4% % of revenue 20.4% 17.3% 309 bps 20.9% 18.1% 282 bps LTIP expense 23 181 (87.3)% 197 396 (50.3)% % of revenue 0.0% 0.2% (21) bps 0.1% 0.3% (14) bps Depreciation of right-of-use assets 3,542 3,145 12.6% 6,873 6,227 10.4% % of revenue 4.4% 4.1% 32 bps 4.4% 4.2% 25 bps Other depreciation and amortisation 1,169 1,074 8.8% 2,318 2,035 13.9% % of revenue 1.5% 1.4% 6 bps 1.5% 1.4% 13 bps Total SG&A 21,034 17,645 19.2% 41,701 35,502 17.5% % of revenue 26.3% 23.0% 327 bps 27.0% 23.9% 306 bps
Page 11
EBITDA IFRS 16 and IAS 17 reconciliation 11Source: Company data, Interim Condensed Consolidated financial Information for the Six Months Ended 30 June 2025 RUB million Q2 2025 Q2 2024 Change H1 2025 H1 2024 Change EBITDA (IFRS 16) 10,503 12,772 (17.8)% 20,544 22,545 (8.9)% EBITDA margin (IFRS 16), % 13.1% 16.7% (353) bps 13.3% 15.2% (190) bps LTIP expense 23 181 (87.3)% 197 396 (50.3)% Adjusted EBITDA (IFRS 16) 10,526 12,953 (18.7)% 20,741 22,941 (9.6)% Adjusted EBITDA margin (IFRS 16), % 13.1% 16.9% (374) bps 13.4% 15.5% (204) bps Rental expense (4,178) (3,538) 18.1% (8,187) (6,960) 17.6% Utilities (75) (59) 27.1% (144) (117) 23.1% Adjusted EBITDA (IAS 17) 6,273 9,356 (33.0)% 12,410 15,864 (21.8)% Adjusted EBITDA margin (IAS 17), % 7.8% 12.2% (436) bps 8.0% 10.7% (266) bps LTIP expense (23) (181) (87.3)% (197) (396) (50.3)% EBITDA (IAS 17) 6,250 9,175 (31.9)% 12,213 15,468 (21.0)% EBITDA margin (IAS 17), % 7.8% 12.0% (416) bps 7.9% 10.4% (252) bps
Page 12
Statement of financial position highlights 12Source: Company data, Interim Condensed Consolidated financial Information for the Six Months Ended 30 June 2025 Notes: (1) The calculation of net debt / (net cash) to EBITDA is based on EBITDA for the last 12 months RUB million 30 June 2025 31 Dec 2024 30 June 2024 Current loans and borrowings 7,521 15,056 15,036 Non-current loans and borrowings 3,100 3,010 4,855 Current lease liabilities 11,319 10,200 9,104 Non-current lease liabilities 8,549 5,473 4,763 Cash and cash equivalents (5,646) (19,579) (39,518) Net debt / (Net cash) 24,843 14,160 (5,760) Dividends payable - 8,321 - Adjusted net debt / (net cash) 24,843 22,481 (5,760) Adjusted net debt / (net cash) to EBITDA (IFRS 16) 0.5x 0.4x (0.1)x Current lease liabilities (11,319) (10,200) (9,104) Non-current lease liabilities (8,549) (5,473) (4,763) IAS 17-based adjusted net debt / (net cash) 4,975 6,808 (19,627) IAS 17-based adjusted net debt / (net cash) to EBITDA(1) 0.1x 0.2x (0.5)x
Page 13
Statement of cash flows highlights 13Source: Interim Condensed Consolidated financial Information for the Six Months Ended 30 June 2025 Notes: (1) The data for Q1 2025 was adjusted RUB million Q2 2025 Q2 2024 H1 2025 H1 2024 Profit before tax 3,879 7,555 8,339 13,365 Cash from operating activities before changes in working capital(1) 11,083 13,492 20,729 24,042 Changes in working capital(1) 221 (1,401) (1,993) (5,512) Net cash generated from operations 11,304 12,091 18,736 18,530 Net interest paid (1,441) (130) (2,904) (16) Income tax paid (339) (818) (2,457) (3,995) Net cash flows from operating activities 9,524 11,143 13,375 14,519 Net cash flows used in investing activities (2,580) (1,249) (4,783) (2,613) Net cash flows used in / from financing activities (5,720) 1,918 (21,439) (9,458) Effect of exchange rate fluctuations on cash and cash equivalents (199) (288) (1,086) (273) Net increase / (decrease) in cash and cash equivalents 1,025 11,524 (13,933) 2,175
Page 14
Contacts
Page 15
Contacts 15 Website Contacts for media Contacts for investors https://ir.fix-price.com ir@fix-price.com pr@fix-price.com