Earnings release
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28 August 2025 1 FIX PRICE GROUP PLC ANNOUNCES KEY OPERATING AND FINANCIAL RESULTS FOR Q2 AND H1 2025 Completion of GDR exchange for PJSC Fix Price shares unlocks full shareholder rights 28 August 2025, Astana, Kazakhstan – Fix Price Group PLC (AIX: FIXP.Y; “Fix Price”, the “Company” or the “Group”), one of the world’s leading variety value retailers and the largest in Russia , today announces its operating and auditor -reviewed IFRS financial results for the second quarter (Q2 2025) and the six months ended 30 June 2025 (H1 2025). The Group’s performance was primarily driven by the results of its subsidiary PJSC Fix Price , which accounted for approximately 8 1%1 of the Group’s EBITDA (IAS 17) for H1 2025. Full financial and operational details are available in PJCS Fix Price’s standalone press release. 1 Calculated based on Fix Price Group PLC’s reported EBITDA (IAS 17) for H1 2025 (RUB 12.2 billion) adjusted for one-off non-cash income (RUB 1.1 billion), reported under the “Other op. income and share of profit of associates ” line of the profit and loss statement Net openings Н1 2025 Gross margin Н1 2025 33.3% Net profit Н1 2025 6.2 Revenue Н1 2025 154.5 RUB billion RUB billion stores 299 RUB billion RUB billion
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28 August 2025 2 During the reporting period, we continued to deliver consistent results and demonstrated our ongoing commitment to our strategic priorities in the face of changing consumer behaviour and macroeconomic challenges. We delivered revenue growth in both the second quarter and the first half of the year, driven by the continued expansion of our store network and an increase in like -for-like sales. Recently, our network reached the important milestone of 7,500 stores, having added more than 330 new outlets since t he beginning of the year, including the first Fix Price stores in 56 new localities across our area of operations. In the first half of the year, gross profit grew by 4.0% year -on-year to RUB 51.4 billion. Our gross margin remained robust, at 33.3%, thanks to careful management of our product range, which helped offset an increase in production and transportation costs. Our adjusted EBITDA margin, which stood at 13.4% in H1 2025, faced headwinds from the challenging situation in the labour market. Net profit for the reporting period amounted to RUB 6.2 billion, with a net profit margin of 4.0%. At the same time, we remain nearly debt-free, which gives us flexibility to execute on our growth strategy despite the ongoing tight monetary policy environment. In August, we completed the important process of exchanging Fix Price Group PLC global depositary receipts («GDRs») for shares of PJSC Fix Price. Our team carried out substantial work to make this happen, and we are pleased with the interest we saw in the exchange from a wide range of investors and the large volume of applications we received. Last week, we launched tr ading in shares of our subsidiary PJSC Fix Price on the Moscow Exchange. We will continue to implement our strategic initiatives, including the development of our loyalty programme, the digitalisation of operations and the enhancement of our pricing archit ecture, which will further improve the customer experience and help us ensure that we can offer our customers the most suitable value proposition. Dmitry Kirsanov, CEO of Fix Price Group PLC
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28 August 2025 3 OPERATING AND FINANCIAL SUMMARY FOR Q2 2025 • Revenue increased by 4.4% y-o-y to RUB 80.1 billion — Retail revenue increased to RUB 74.6 billion (+7.6% y-o-y) — Wholesale revenue was RUB 5.5 billion • In the second quarter of 2025 , the Group delivered 0.2% LFL sales 2 growth despite challenging market conditions. Muted consumer sentiment led to a continuation of cautious spending on non-food items, with customers’ prioritising staple products. A 5.5% increase in the LFL average ticket in Q2 2025, thanks to the successful adoption of a pricing architecture and an optimised assortment matrix , helped offset a 5.0% decline in LFL traffic • In Q2 2025 , the Company opened 182 net new stores (including 176 Company-operated store s and 6 franchise stores). As of 30 June 2025, Fix Price was operating a total of 7,464 stores (+11.0% y-o-y) • In the reporting period, total selling space grew by 39,741 sq. m reaching 1,615,234 sq. m (+10.9% y-o-y) as of 30 June 2025 • Gross profit rose by 2.3% y-o-y and reached RUB 26. 6 billion. Gross margin decreased slightly to 33.3%, mainly due to the higher cost of goods sold through retail channels and higher transportation costs that were largely mitigated by efficient assortment management and favourable FX rates for import purchases • In the second quarter of 2025, SG&A costs (ex cl. LTIP expense 3 and D&A) increased by 309 bps y -o-y to 20.4% of revenue as a result of higher staff costs, repair and maintenance costs, and utilities and other expenses. This growth was partially offset by lower bank charges, security services, advertising costs, and rental expense • Adjusted EBITDA4 under IFRS 16 was RUB 10.5 billion, mainly due to the increase in staff costs and other operating expenses, as well as the rising cost of goods sold in the retail segment and higher transportation costs. Adjusted EBITDA margin was 13.1% • EBITDA under IFRS 16 amounted to RUB 10.5 billion. The EBITDA margin stood at 13.1% • Net profit for the period stood at RUB 2.7 billion. Net profit margin was 3.4% • The IAS 17–based adjusted net debt to EBITDA ratio stood at 0.1x as of 30 June 2025 2 Here and hereinafter, like-for-like (LFL) sales, average ticket and number of tickets are calculated based on the results of stores operated by Fix Price and that were open for at least 12 full calendar months preceding the reporting date. LFL sales and average ticket are calculated based on retail sales including VAT. LFL numbers exclude stores that were temporarily closed for seven or more consecutive days during the reporting period and/or comparable periods 3 LTIP expense: expense related to the long-term incentive programme (LTIP) 4 EBITDA adjusted for LTIP expense. EBITDA is calculated as profit for the respective period before income tax expense, net interest income/(expense), depreciation and amortisation expense, and foreign exchange gain/(loss)
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28 August 2025 4 OPERATING AND FINANCIAL SUMMARY FOR H1 2025 • Revenue increased by 4.1% y-o-y to RUB 154.5 billion — Retail revenue increased to RUB 143.3 billion (+8.0% y-o-y) — Wholesale revenue was RUB 11.2 billion • In the first half of 2025, the Group delivered 0. 9%5 LFL sales growth (0.3% unadjusted). A 3.4%5 decline in LFL traffic (3.9% unadjusted) was fully offset by a 4.4% increase in the LFL average ticket in H1 2025 • In H1 2025, the Company opened 299 net new stores (the Company -operated store network grew by 294 stores, while the number of franchise stores rose by 5) • In the reporting period, total selling space grew by 64,675 sq. m, reaching 1,615,234 sq. m (+10.9% y-o-y) as of 30 June 2025 • Gross profit rose by 4.0% y-o-y and reached RUB 51.4 billion. Gross margin remained flat y-o-y at the level of 33.3% • In the first half of 2025, SG&A costs (excl. LTIP expense and D&A) was 20.9% of revenue as a result of higher staff costs, repair and maintenance costs, and utilities and other expenses. This growth was partially offset by lower bank charges, security services, advertising costs, and rental expense • Adjusted EBITDA under IFRS 16 stood at RUB 20.7 billion, mainly due to the increase in staff costs and other operating expenses, as well as the rising cost of goods sold in the retail segment and higher transportation costs. Adjusted EBITDA margin was 13.4% • EBITDA under IFRS 16 amounted to RUB 20.5 billion, with the EBITDA margin at 13.3% • Net profit for the period stood at RUB 6.2 billion. Net profit margin was 4.0% • The IAS 17–based adjusted net debt to EBITDA ratio stood at 0.1x as of 30 June 2025 5 Here, LFL sales and LFL traffic are adjusted for an additional trading day in 2024 due to the leap yea r
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28 August 2025 5 Store base, geographical coverage and selling space 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 Development of Company-operated stores Q2 2025 Q2 2024 H1 2025 H1 2024 Gross openings 214 207 379 371 Russia 184 178 326 321 Kazakhstan 22 17 38 29
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28 August 2025 6 Q2 2025 Q2 2024 H1 2025 H1 2024 Belarus 8 12 15 21 Closures 38 45 85 84 Russia 35 43 76 75 Kazakhstan 3 - 7 5 Belarus - 2 2 4 Net openings 176 162 294 287 Russia 149 135 250 246 Kazakhstan 19 17 31 24 Belarus 8 10 13 17
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28 August 2025 7 FINANCIAL RESULTS FOR Q2 2025 AND H1 2025 Statement of comprehensive income highlights 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 EBITDA6 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 Selling, general and administrative expenses7 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 6 EBITDA adjusted for LTIP expense 7 The total may not equal the sum of the components due to rounding
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28 August 2025 8 RUB million Q2 2025 Q2 2024 Change H1 2025 H1 2024 Change 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 EBITDA IFRS 16 and IAS 17 reconciliation 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
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28 August 2025 9 Statement of financial position highlights 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 EBITDA8 (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 0.1x 0.2x (0.5)x Statement of cash flows highlights 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 capital9 11,083 13,492 20,729 24,042 Changes in working capital9 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 8 Here and hereinafter, the calculation of net debt / (net cash) to EBITDA is based on EBITDA for the last 12 months 9 The data for Q1 2025 was adjusted
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28 August 2025 10 Exchange On 5 June 2025, Retail Technologies & Solutions Limited, a subsidiary of Fix Price Group PLC, announced the start of the exchange of GDRs of Fix Price Group PLC for ordinary shares of PJSC Fix Price. The exchange offered holders of Fix Price Group PLC GDRs the opportunity to become shareholders in PJSC Fix Price – the Group’s main operating asset – and to obtain a liquid instrument traded on Moscow Exchange that is not subject to infrastructure and other restrictions applicable to Fix Pr ice Group PLC GDRs, including limitations related to the possibility of receiving dividends and participating in general meetings of shareholders. As of 20 August 2025, under the Exchange via stock exchange and OTC Exchange, a total of 104.2 million GDRs was exchanged for 16.5 billion shares of PJSC Fix Price. As a result, Exchange participants collectively acquired approximately 16.5% of PJSC Fix Price's authorised capital, representing the entirety of the PJSC Fix Price's free float. On 6 August 2025, Fix Price Group PLC ’s GDRs were delisted from the Moscow Exchange (MOEX) and the St. Petersburg Exchange (SPBEX). Trading in the GDRs will continue on the Astana International Exchange (AIX), which remains the Group’s international trading platform, under the ticker FIXP.Y. Trading in PJSC Fix Price shares on the Moscow Exchange commenced on 20 August 2025 under the ticker FIXR , in the Level 1 quotation list.
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28 August 2025 11 ABOUT THE COMPANY Fix Price (AIX: FIXP.Y), one of the world’s leading variety value retailers and the largest in Russia, offers a wide and constantly updated assortment of non-food goods – including personal care and household products – as well as food items, all at low fixed price points. As of 30 June 2025, Fix Price was operating 7,464 stores across Russia and other countries, each carrying approximately 2,000 SKUs in around 20 product categories. Fix Price offers a mix of its own private-label products, major brands, and items from local suppliers . As of 30 June 2025, t he Company was operating 13 DCs covering 81 regions of Russia and 9 other countries. In 202 4, the Company recorded revenue of RUB 314.9 billion, EBITDA of RUB 53.1 billion and net profit of RUB 22.2 billion, in accordance with IFRS. CONTACTS Fix Price Investor Relations Fix Price Media Relations Elena Mironova ir@fix-price.com Ekaterina Makurina pr@fix-price.com