Magnit operations cash flow down 31.6% to $858.4 mln in 2016
MOSCOW. March 24 (Interfax) - Magnit's net cash flow from operations declined 31.55% to $858.35 million in 2016, down from $1.254 billion in 2015, according to the company's report to International Financial Reporting Standards (IFRS).
Investment cash flow declined 16.8% to $747.69 million. Financial cash flow totaled $43.25 million, down from $454.86 million in 2015.
At the end of December 2016, the company's account balance totaled $272.999 million, up from $115.129 million a year before.
On Friday Magnit published its audited financial results for 2016. According to the audited report, EBITDA margin was 0.01 percentage points higher than the non-audited figure published in January.
Net profit fell 7.88% to 54.4 billion rubles while net profit margin totaled 5.06% in comparison to 6.21% in 2015. EBITDA increased 3.67% to 107.79 billion rubles. EBITDA margin totaled 10.03% in comparison to 10.94% a year before.
Gross profit increased 9.21% to 295.76 billion rubles, while gross margin declined to 27.52% in comparison to 28.49% in 2015. Revenue increased 13.07% to 1.074 trillion rubles.
Magnit is Russia's biggest retailer by sales revenue and the number of stores as of the end of 2016. At the end of December, the company's network included 14,059 stores, including 10,521 convenience stores.