Fix Price Group (FIXPRICE) Q1 2025 earnings summary

Executive summary

• Revenue increased by 3.9% year-over-year to RUB 74.4bn, with net profit at RUB 3.4bn and EBITDA at RUB 10.0bn, reflecting continued growth and profitability.

• 117 net new stores were opened, bringing the total to 7,282 across 10 countries, with selling space up 11% year-over-year.

• Loyalty program membership grew 13.1% year-over-year to 29.9 million, with loyalty transactions accounting for 67.1% of retail sales.

Financial highlights

• Gross profit increased by 5.8% year-over-year to RUB 24.8bn, with gross margin improving to 33.3%.

• Adjusted EBITDA under IFRS 16 grew 2.3% to RUB 10.2bn, with a margin of 13.7%.

• Operating profit was RUB 5.6bn, with a margin of 7.5%.

• Net profit for the quarter was RUB 3.4bn, maintaining a net profit margin of 4.6%.

• CAPEX increased to 3.0% of revenue, mainly for a new distribution center and store openings.

Outlook and guidance

• Forecast for 700 net new store openings in 2025 is confirmed, with plans to maintain low CAPEX as a share of revenue.

• Market potential is estimated at 18,600 stores across Russia, Kazakhstan, and Belarus.