Earnings Report /
Russia

2Q21 IFRS financials – NEUTRAL-to-POSITIVE

  • Magnit (MGNT RX / MGNT LI: O/W, TP RUB6,670 / $19) release its 2Q21 unaudited IFRS results

  • 2Q21 revenue grew 10% y/y (1% above consensus), accelerating vs 6% y/y in Q1

  • 2Q21 net income declined 6% y/y (in line with consensus and 7% below our estimate)

Evgeniy Kipnis
Evgeniy Kipnis

Senior Banking/Consumer Analyst

Alfa
29 July 2021
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