Company Announcements

Lenta Publishes 1H-Q2 2021 Results

Source: RNS
RNS Number : 3663G
Lenta International PJSC
26 July 2021
 

Press Release | St. Petersburg | 26 July 2021


Lenta reports Online Sales growth of +300%, an 8.0% EBITDA Margin, and the launch of its new Mini store format in 1H 2021

 

1H & Q2 2021 Operational and Financial Highlights

·   Retail Sales increased by 0.7% y-o-y to RUB 215 billion in 1H 2021.

·   LFL Sales declined by 0.7% in 1H, while LFL Average Ticket grew by 1.4% and customer Traffic declined by 2.1% .

·   EBITDA Margin in 1H 2021 was 8.0% and EBITDA was RUB 17.5 billion.

·   During Q2, Lenta announced that it would acquire 161 supermarkets from Billa Russia in a transaction that will make it the #2 supermarket operator in Moscow. FAS has approved the deal, which is expected to close in August.

·   In June, the company signed a deal to acquire Semya's 75 multi-format retail stores in the Perm region. Subject to FAS approval the deal is expected to close in August.

·   Online Sales grew by 322% y-o-y to RUB 7.9 billion with Online Orders up 426% y-o-y to 4.4 million in 1H 2021.

·   In 1H 2021, Lenta began opening its new Mini format with 12 new stores opened in total at the end of the period. Additionally, the company opened 3 new hypermarkets and 1 new supermarket. In total, the new store openings created an increase of 3.2% in new selling space.

·   The Net Debt to EBITDA (LTM) ratio stood at 1.7x as of 30 June 2021.

 

St. Petersburg, Russia, 26 July 2021: Lenta IPJSC (MOEX & LSE: LNTA), one of the largest multi-format retail chains in Russia, today announces its operational results and auditor reviewed IFRS financial results for the first six months of 2021. A conference call with management to discuss these results is scheduled for today (see below for dial-in details).

 

Vladimir Sorokin, Chief Executive Officer:

"In the second quarter, following our Capital Markets Day at the end of March, we began executing on our new strategic plan to pursue growth opportunities through the opening of new formats, strategic acquisitions, and bringing our online offering to new customers.

 

For example, in Q2, we opened 11 Lenta Mini stores. This new format is a very interesting and exciting initiative. The early results are promising, and we continue to make improvements with every new store opening. Also, during the second quarter we announced two important acquisitions, Billa Russia and Semya. These deals will strengthen our competitive position in two key markets, Moscow and Perm, and accelerate our transition into a large multi-format retailer. During the first six months of the year, our Online channel continued to produce impressive results with year-over-year growth rates exceeding 300%.

 

With respect to our core formats, hypermarkets and supermarkets, the results of the first six months of 2021 are better than we might have expected given the fact that the results of the same period of 2020 were driven by an unprecedented increase in consumer demand as a result of the COVID-19 lockdown here in Russia.
 

Finally, during the first half of 2021, we made changes to strengthen our Management Team mainly through internal promotion of executives who not only have a depth of experience but, just as importantly, are very motivated to do what will be required over the next five years to transform Lenta into a champion of Russian food retail. We may have a long road ahead of us, but I am very encouraged by the progress we have achieved during these first few months."

 

 

 

 

Quarterly - LFL RESULTS

 

Q2

Q2

Q2

 

 

Sales

Average Ticket

Traffic

 

 

 

 

 

Total Retail

 

-2.6%

-7.9%

5.8%

Hypermarkets

 

-2.3%

-7.3%

5.4%

Supermarkets

 

-5.7%

-12.4%

7.7%

 

 

 

 

 

2nd Quarter - OPERATING RESULTS (Year-over-Year)

 

Q2 2021

Q2 2020

Change

% Change

 

 

 

 

 

Total Sales (RUB millions)

110,776

110,971

(195)

-0.2%

Retail Sales

109,027

109,094

(67)

-0.1%

Hypermarkets

99,473

99,643

(169)

-0.2%

Supermarkets2

9,554

9,452

102

1.1%

Wholesale

1,749

1,877

(128)

-6.8%

 

 

 

 

 

Average Ticket (RUB)

1,085

1,195

(110)

-9.2%

Hypermarkets

1,211

1,316

(105)

-8.0%

Supermarkets2

520

607

(87)

-14.3%

 

 

 

 

 

Number of Tickets (millions)

101

91

9

10.1%

Hypermarkets

82

76

6

8.5%

Supermarkets2

18

16

3

17.9%

 

 

 

 

 

Total Retail Stores (eop)3

406

379

27

 

Hypermarkets

255

248

7

 

Openings

2

0

2

 

Closing

1

1

0

 

Supermarkets2

151

131

20

 

Openings

11

3

8

 

Closing

0

3

(3)

 

 

 

 

 

 

New Selling Space (sqm, eop)

7,078

(7,162)

14,240

 

Hypermarkets

2,829

(7,641)

10,470

 

Supermarkets2

4,249

479

3,770

 

 

 

 

 

 

Total Selling Space (sqm, eop)

1,529,175

1,482,067

47,108

3.2%

Hypermarkets

1,406,516

1,370,940

35,576

2.6%

Supermarkets3

122,659

111,127

11,532

10.4%

 

 

 

 

 

Total Online Sales (RUB, millions)

4,079

1,377

2,702

196.2%

Online Partners

2,227

1,327

899

 

Lenta Online

1,668

49

1,619

 

Click & Collect
 

184

1

183

 

Total Online Orders (thousands)

2,267

618

1,649

266.6%

Online Partners

1,253

574

679

 

Lenta Online

939

44

895

 

Click & Collect
 

75

0

75

 

Cities of Online Operation

 

 

 

 

Online Partners

86

51

35

 

Lenta Online

84

3

81

 

Click & Collect

87

8

79

 

 

2.    Supermarkets include 12 new Lenta Mini stores opened in 1H 2021

3.    "eop" refers to "end of period"


 

6 Months - LFL RESULTS3

 

1H'21

1H'21

1H'21

 

 

 

Sales

Average Ticket

Traffic

 

 

 

 

 

 

 

Total Retail

 

-0.7%

1.4%

-2.1%

 

Hypermarkets

 

-0.3%

1.4%

-1.6%

 

Supermarkets

 

-5.2%

-0.9%

-4.3%

 

 

 

 

 

 

 

6 Months - OPERATING RESULTS (Year-To-Date)

 

 

1H'21

1H'20

Change

% Change

 

 

 

 

 

 

 

Total Sales (RUB millions)

218,088

216,975

1,113

0.5%

 

Retail Sales

214,908

213,447

1,461

0.7%

 

Hypermarkets

195,664

194,196

1,468

0.8%

 

Supermarkets2

19,245

19,251

(7)

0.0%

 

Wholesale

3,179

3,528

(349)

-9.9%

 

 

 

 

 

 

 

Average Ticket (RUB)

1,105

1,103

2

0.1%

 

Hypermarkets

1,229

1,221

9

0.7%

 

Supermarkets2

544

560

(16)

-2.8%

 

 

 

 

 

 

 

Number of Tickets (millions)

195

193

1

0.5%

 

Hypermarkets

159

159

0

0.0%

 

Supermarkets2

35

34

1

2.9%

 

 

 

 

 

 

 

Total Retail Stores (eop)

406

379

27

 

 

Hypermarkets

255

248

7

 

 

Openings

3

0

3

 

 

Closing

2

1

1

 

 

Supermarkets2

151

131

20

 

 

Openings

13

3

10

 

 

Closing

1

3

(2)

 

 

 

 

 

 

 

 

New Selling Space (sqm, eop)

10,577

(7,162)

17,739

 

 

Hypermarkets

5,728

(7,641)

13,369

 

 

Supermarkets2

4,849

479

4,370

 

 

 

 

 

 

 

 

Total Selling Space (sqm, eop)

1,529,175

1,482,067

47,108

3.2%

 

Hypermarkets

1,406,516

1,370,940

35,576

2.6%

 

Supermarkets2

122,659

111,127

11,532

10.4%

 

 

 

 

 

 

 

Total Online Sales (RUB, millions)

7,892

1,870

6,023

322.1%

 

 

Online Partners

4,486

1,816

2,670

 

 

Lenta Online

3,125

53

3,072

 

 

Click & Collect

281

1

281

 

 

 

 

 

 

 

Total Online Orders (thousands)

4,419

840

3,579

426.1%

 

Online Partners

2,475

789

1,686

 

 

Lenta Online

1,821

51

1,770

 

 

Click & Collect

123

0

123

 

 

 

 

 

 

 

 

Cities of Online Operation

 

 

 

 

 

Online Partners

86

51

35

 

 

Lenta Online

84

3

81

 

 

Click & Collect

87

8

79

 

 

                     

 

2.    Supermarkets include 12 Lenta Mini stores opened in 1H 2021

3.    LFL Results do not include 29-Feb-2020

4.    "eop" refers to "end of period"

 

 

Q2 2021 Monthly - OPERATING RESULTS

 

 

 

 

April

YoY

May

YoY

June

YoY

 

 

 

 

 

 

 

Total Sales (RUB millions)

36,631

1.8%

37,409

-2.0%

36,736

-0.2%

Retail Sales

36,026

1.6%

36,945

-1.5%

36,057

-0.3%

Hypermarkets

32,739

1.6%

33,739

-1.6%

32,995

-0.4%

Supermarkets2

3,286

2.4%

3,206

0.3%

3,061

0.5%

Wholesale

606

11.4%

464

-31.0%

679

2.7%

 

 

 

 

 

 

 

Average Ticket (RUB)

1,088

-14.4%

1,088

-9.5%

1,078

-4.0%

Hypermarkets

1,214

-13.1%

1,212

-8.1%

1,207

-3.0%

Supermarkets2

534

-19.8%

524

-15.2%

502

-8.0%

 

 

 

 

 

 

 

Number of Tickets (millions)

33

18.7%

34

8.9%

33

3.9%

Hypermarkets

27

16.8%

28

7.0%

27

2.7%

Supermarkets2

6

27.7%

6

18.2%

6

9.2%

 

 

 

 

 

 

 

Total Retail Stores (eop)

397

 

400

 

406

 

Hypermarkets

255

 

254

 

255

 

Openings

1

 

0

 

1

 

Closing

0

 

1

 

0

 

Supermarkets2

142

 

146

 

151

 

Openings

2

 

4

 

5

 

Closing

0

 

0

 

0

 

 

 

 

 

 

 

 

New Selling Space (sqm, eop)

5,911

 

(5,083)

 

6,250

 

Hypermarkets

5,212

 

(6,583)

 

4,200

 

Supermarkets2

699

 

1,500

 

2,050

 

 

 

 

 

 

 

 

Total Selling Space (sqm, eop)

1,528,008

3.2%

1,522,925

2.9%

1,529,175

3.2%

Hypermarkets

1,408,899

2.8%

1,402,316

2.3%

1,406,516

2.6%

Supermarkets2

119,109

8.3%

120,609

10.5%

122,659

10.4%

 

 

 

 

 

 

 

Total Online Sales (RUB, millions)

1,409

197.4%

1,359

168.3%

1,311

230.5%

Online Partners

790

 

738

 

698

 

Lenta Online

567

 

563

 

539

 

Click & Collect

52

 

59

 

74

 

 

 

 

 

 

 

 

Total Online Orders (thousands)

793

329%

754

226%

719

257%

Online Partners

447

 

409

 

397

 

Lenta Online

322

 

320

 

297

 

Click & Collect

25

 

25

 

25

 

 

 

 

 

 

 

 

Cities of Online Operation

 

 

 

 

 

 

Online Partners

87

 

86

86

 

Lenta Online

83

 

83

 

84

 

Click & Collect

88

 

87

 

87

 

                   

 

 

 

2.    Supermarkets include 12 new Lenta Mini stores opened in 1H 2021

3.    "eop" refers to "end of period"

 

Operating Results Commentary

 

Lenta's Retail Sales in 1H 2021 increased by 0.7% compared to 1H 2020. This increase was supported by a 0.1% growth in Average Ticket size and a 0.5% increase in Number of Tickets. Retails Sales were boosted by the company's continued online development, loyalty program activations and new store operations.

 

Both Hypermarket and Supermarket formats showed flat Retail Sales performance in the first half of 2021, compared to the first half of 2020 when there was unprecedented surge-buying behavior and stocking up. At the end of the second quarter, customer behavior began reverting back to pre-COVID-19 norms with regard to Ticket size and Traffic volume.

The Hypermarket format delivered 0.8% growth in Retail Sales in 1H 2021, as a result of a 0.7% increase in Average Ticket size and a 0.0% change in Number of Tickets. The Supermarket format's Retail Sales remained flat in 1H 2021, as a result of a 2.8% decrease in Average Ticket and a 2.9% increase in Number of Tickets.

 

During Q2, LFL Retail Sales declined by 2.6% driven by a LFL Average Ticket decline of 7.9%, offset by a LFL Customer Traffic increase of 5.8%. These results reflect the fact that during Q2 2020, LFL Average Ticket was extraordinarily high, and LFL Customer Traffic was lower than normal. The same dynamic can be seen in Hypermarket and Supermarket LFL performance in Q2.

 

In 1H 2021, Lenta's online channel continued to be an engine of growth for the company. Total Online Sales during the period amounted to RUB 7.9 billion, an increase of 322% year-over-year, while Total Online Orders were up 426% and amounted to 4.4 million.

 

During the second quarter, Online Sales represented 3.7% of Lenta's Total Sales. The company's own Lenta Online express delivery service grew from 38% of Online Sales in Q1 to 41% in Q2, while its Click & Collect service grew from 2.6% in Q1 to 4.5% in Q2. The company already operates its own Click & Collect platform in all of the cities where it has physical stores. 

 

Lenta opened two new hypermarkets, one new supermarket, and 11 new Lenta Mini stores during Q2 2021. Lenta also closed one hypermarket in Q2 2021, bringing the total number of Lenta stores at the quarter end to 255 hypermarkets, 139 supermarkets and 12 Lenta Mini stores. Lenta currently operates Total Selling Space of 1.5 million square meters, which is a year-over-year increase of 3.2%.
 

 

1H 2021 Key Financial Results

IFRS 16

 

IAS 17

RUB million

1H 2021

1H 2020

Change

 

1H 2021

1H 2020

Change

 

 

 

 

 

 

 

 

Total Sales

218,088

216,975

0.5%

 

218,088

216,975

0.5%

 

 

 

 

 

 

 

 

Gross Profit

49,807

50,703

-1.8%

 

 49,722

 50,541

-1.6%

Gross Margin (%)

22.8%

23.4%

-53 bps

 

22.8%

23.3%

-49 bps

 

 

 

 

 

 

 

 

SG&A

(41,325)

(37,464)

10.3%

 

(42,103)

 (38,173)

10.3%

SG&A as % of Total Sales

18.9%

17.3%

168 bps

 

19.3%

17.6%

171 bps

 

 

 

 

 

 

 

 

EBITDAR

 21,100

 25,285

-16.6%

 

 20,841

 25,118

-17.0%

EBITDAR Margin

9.7%

11.7%

-198 bps

 

9.6%

11.6%

 -202 bps

Rent as % of Total Sales

0.2%

0.2%

 1 bp

 

1.5%

1.4%

 14 bps

 

 

 

 

 

 

 

 

EBITDA

 20,647

 24,812

-16.8%

 

 17,472

 22,072

-20.8%

EBITDA Margin

9.5%

11.4%

-197 bps

 

8.0%

10.2%

 -216 bps

 

 

 

 

 

 

 

 

Operating Profit before impairment

10,893

15,573

-30.1%

 

 9,856

 14,696

-32.9%

Operating Profit Margin before impairment

4.99%

7.18%

-218 bps

 

4.52%

6.77%

 -225 bps

(Impairment) / reversal of impairment

(9)

42

-121.4%

 

(9)

 42

-121.4%

 

 

 

 

 

 

 

 

Operating Profit

 10,884

 15,614

-30.3%

 

 9,847

 14,738

-33.2%

Operating Profit Margin

4.99%

7.20%

 -221bps

 

4.52%

6.79%

 -228 bps

Net Interest Expense

(3,711)

 (4,720)

-21.4%

 

 (2,331)

 (3,371)

-30.9%

(Net FX loss)

 (589)

 (272)

116.5%

 

 (610)

 (187)

226.2%

Profit Before Income Tax

 6,584

 10,623

-38.0%

 

 6,906

 11,179

-38.2%

 

 

 

 

 

 

 

 

Net Income

 5,105

 8,911

-42.7%

 

 5,363

 9,357

-42.7%

Net Income Margin

2.3%

4.1%

-177 bps

 

2.5%

4.3%

 -185 bps

                   

 

 

Total Sales rose by 0.5% year-over-year in 1H 2021, supported by Retail Sales growth, online development, growing participation in Lenta's revamped loyalty program and a noticeable trend of trading up.

 

In 1H 2021, Gross Profit (IAS 17) decreased by 1.6% year-over-year and Gross Margin decreased by 49 bps to 22.8%. Gross Profit was impacted by increased promotional activity in 1H 2021 compared to the same period of 2020, which was impacted by significant extra customer demand at Lenta stores due to the abnormal dynamics caused by the COVID-19 lockdown. Lenta benefited disproportionately more than other food retailers during the 1H 2020 period due to the fact that it also carried non-food products and during the lockdown non-food retailers were closed.

 

EBITDA (IAS 17) during 1H 2021 decreased by 20.8% to RUB 17.5 billion, mainly due to the surge-buying behavior seen during 1H 2020 in connection with the COVID-19 lockdown, and investment into Lenta's growth strategy. Nonetheless, Lenta's EBITDA margin remained at a solid 8.0% in 1H 2021, in line with the company's targets.

 

 

 

 

Selling, General, and Administrative (SG&A)

IFRS 16

 

IAS 17

RUB million

1H 2021

1H 2020

Change

 

1H 2021

1H 2020

Change

 

 

 

 

 

 

 

 

Payroll and related taxes

16,284

14,907

9.2%

 

16,284

14,907

9.2%

as a % of Total Sales

7.5%

6.9%

60 bps

 

7.5%

6.9%

 60 bps

Depreciation and Amortization

9,754

9,240

5.6%

 

7,616

7,376

3.3%

as a % of Total Sales

4.5%

4.3%

21 bps

 

3.5%

3.4%

 9 bps

Lease Expenses

453

473

-4.2%

 

3,369

3,046

10.6%

as a % of Total Sales

0.2%

0.2%

-1 bp

 

1.5%

1.4%

 14 bps

Utilities

2,647

2,403

10.2%

 

2,647

2,403

10.2%

as a % of Total Sales

1.2%

1.1%

 11 bps

 

1.2%

1.1%

 11 bps

Store Operations

4,690

4,194

11.8%

 

4,690

4,194

11.8%

as a % of Total Sales

2.2%

1.9%

 22 bps

 

2.2%

1.9%

 22 bps

Professional Fees

2,100

2,020

4.0%

 

2,100

2,020

4.0%

as a % of Total Sales

1.0%

0.9%

 3 bps

 

1.0%

0.9%

 3 bps

Advertising

2,381

2,117

12.5%

 

2,381

2,117

12.5%

as a % of Total Sales

1.1%

1.0%

 12 bps

 

1.1%

1.0%

 12 bps

Other

3,016

2,110

42.9%

 

3,016

2,110

42.9%

as a % of Total Sales

1.4%

1.0%

 41 bps

 

1.4%

1.0%

 41 bps

Total SG&A

41,325

37,464

10.3%

 

42,103

38,173

10.3%

as a % of Total Sales

18.9%

17.3%

 168 bps

 

19.3%

17.6%

 171 bps

SG&A excluding D&A

31,571

28,224

11.9%

 

34,487

30,797

12.0%

as a % of Total Sales

14.5%

13.0%

 147 bps

 

15.8%

14.2%

 162 bps

 

 

Total Selling, General, and Administrative expenses (IAS 17) increased by 10.3% year-over year to RUB 42.1 billion and amounted to 19.3% of Total Sales. SG&A expenses were impacted by

higher personnel costs from new store openings and investments into Lenta Online, as well as COVID-19 safety related expenditures.

 

Payroll and related taxes rose by 9.2% year-on-year in connection with salary indexation, which took place in the second half of 2020, new store openings, building capabilities to implement Lenta's growth strategy and Lenta Online. Additionally, the company incurred certain one-off material expenses related to the departure of several senior executives.

 

Store Operations increased by 11.8% year-over-year, mainly driven by costs associated with new store openings, higher cleaning costs due to severe winter weather in the first half of 2021, increased security costs, as well as store repairs and maintenance.

 

Meanwhile, advertising costs during 1H 2021 were up 12.5% year-over-year, due to online channel marketing expenses and higher customer acquisition costs.
 


 

 

 

 

 

1H 2021 Cash Flow Statement

 

IFRS 16

 

IAS 17

RUB million

1H 2021

1H 2020

Change

 

1H 2021

1H 2020

Change

 

 

 

 

 

 

 

 

Profit before income tax

 6,584

 10,623

-38.0%

 

6,906

11,179

-38.2%

Net adjustments for loss on disposal of assets, impairment, depreciation & amortization, and other

 14,216

 14,376

-1.1%

 

10,740

11,062

-2.9%

Movements in Working Capital

(10,353)

 (11,892)

-12.9%

 

  (10,216)

   (11,761)

-13.1%

Cash generated from operating activities

 10,447

 13,107

-20.3%

 

7,430

10,480

-29.1%

Net Interest & Income Taxes Paid

 (4,704)

 (6,885)

-31.7%

 

 (3,323)

 (5,524)

-39.8%

Net cash from Operating Activities

 5,743

 6,222

-7.7%

 

4,107

4,956

-17.1%

Net cash used in Investing Activities

 (4,851)

 (3,501)

38.6%

 

 (4,868)

 (3,518)

38.4%

Net cash generated from/(used in) financing activities

 7,774

(56,842)

-

 

9,427

 (55,559)

-

Effect of exchange rates on cash and cash equivalents

 (615)

 39

-

 

 (615)

39

-

Net Increase / (Decrease) in Cash & Cash Equivalents

 8,051

(54,082)

 

 

8,051

(54,082)

 

 

 

CapEx in 1H 2021 amounted to RUB 5.0 billion. This increase of nearly 40% year-over-year is due to the fact that in 1H 2020, Lenta put CapEx on hold due to uncertainty caused by COVID-19. The investments in 1H 2021 were focused on new hypermarket, supermarket, and Lenta Mini openings, as well as distribution center construction and IT investments.

 

Net cash generated from financing activities in 1H 2021 amounted to RUB 9.4 billion, compared to RUB 55.6 billion used in financing activities in 1H 2020.


Free Cash Flow for the 1H 2021 period amounted to RUB a negative 0.8 billion, which was RUB 2.2 billion lower than Free Cash Flow in 1H 2020, mainly due to abnormally high EBITDA in 1H 2020 due to the COVID-19 shutdown dynamics mentioned above.

 

1H 2021 Debt Position and Leverage

IFRS 16

 

IAS 17

RUB million

30-Jun-21

31-Dec-20

 

30-Jun-21

31-Dec-20

 

 

 

 

 

 

Gross Debt

123,603

113,394

 

 88,370

78,952

Long-term Debt

57,929

45,941

 

 57,929

45,941

Short-term Debt

30,441

33,011

 

 30,441

33,011

Lease Liabilities (IFRS 16)

35,233

34,442

 

 -  

 -  

Cash & Cash Equivalents

29,861

21,809

 

 29,861

21,809

Net Debt

93,742

91,585

 

 58,509

57,143

Net Debt / EBITDA (LTM) ratio

 

 

 

 1.7x

1.5x

 

As of June 30, 2021, Lenta's Gross Debt (IAS 17) had increased to RUB 88.4 billion. The company's Net Debt to EBITDA (LTM) ratio stood at 1.7x at the end of 1H 2021, compared to 1.9x at the end of 1H 2020 and 1.5x at year-end 2020.

 

 

 


FY 2021 Guidance

 

In line with the company's performance in 1H 2021 and in light of the announced M&A transactions, Lenta Management is updating its previously communicated guidance for FY 2021 to the following:

 

·    Selling Space Growth: at least 200k sqm (including acquisitions)

·    EBITDA Margin: above 8% (no change)

·    CapEx: Up to 5% of Sales (not including acquisitions)

 

 

 

1H 2021 Conference Call Dial-in Details

 

The Lenta Management Team will host an investor and analyst conference call at 17:00 Moscow time (15:00 London, 10:00 New York), on Monday, 26 July 2021. On the call will be Vladimir Sorokin (CEO), Rud Pedersen (CFO), and Tim Post (IRO).
 

To participate in the conference call, please use the following dial-in details:

 

Russia +7 495 283 98 58

United Kingdom +44 203 984 9844

United States +1 718 866 4614

Germany +49 30 25 555 323

Sweden +46 10 551 30 20

 

Participant code: 878744 ("Lenta 1H Earnings Call")

 

Audio webcast URL: http://webcast.closir.com/lenta2Qcall

 

Telephone numbers for additional countries can be found at the webcast URL. 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:
 

Lenta
Mariya Filippova
Head of Public Relations and Government Affairs

maria.filippova@lenta.com

Lenta

Timothy Post
Investor Relations Officer

timothy.post@lenta.com

 

EM (International Media Inquiries)
Lenta@em-comms.com

 

 

 

 

 

 

 

About Lenta
 

Lenta IPJSC (LSE and MOEX: LNTA) is a leading Russian multi-format food and FMCG retailer. The company operates hypermarkets, supermarkets, and recently launched a new proximity store format under the brand "Mini Lenta." It also provides customers the option to shop online via its click-and-collect and express delivery services. Lenta is Russia's largest hypermarket operator and the fourth largest food retailer overall by Sales. The company was founded in 1993 in St. Petersburg and as of June 30, 2021, operated 255 hypermarkets and 151 supermarkets in 88 cities across European 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, the average Lenta supermarket has 800 square meters, and the Mini Lenta format is 500 meters on average. The company operates 11 distribution centers to supply all of its stores. 2020 Revenues were RUB 445 billion (approximately USD 6 billion).


 

Forward-Looking Statements
 

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.

 

 

 

 

 

 

 

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