Earnings Report /
Russia

Magnit: 3Q21 IFRS financials – Neutral-to-positive

  • Magnit (MGNT RX / MGNT LI: O/W, TP RUB6,670 / $19) released its 3Q21 unaudited IFRS results

  • 3Q21 revenue grew 28% y/y (1% above consensus, 13% y/y adjusted for the Dixy acquisition).

  • 3Q21 EBITDA came 2% above expectations with 7.2% margin (flat y/y, but +0.1pp q/q)

Evgeniy Kipnis
Evgeniy Kipnis

Senior Banking/Consumer Analyst

Olesya Vorobyeva
Olesya Vorobyeva

Analyst, TMT, Agro and Retail

Alfa
28 October 2021
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