ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

LNTR Lenta 144a

0.00
0.00 (0.00%)
Name Symbol Market Type
Lenta 144a LSE:LNTR London Depository Receipt
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.00% 0 -

Lenta PLC Trading Statement (6813M)

25/01/2021 7:00am

UK Regulatory


Lenta 144a (LSE:LNTR)
Historical Stock Chart


From Jun 2019 to Jun 2024

Click Here for more Lenta 144a Charts.

TIDMLNTR TIDMLNTA

RNS Number : 6813M

Lenta PLC

25 January 2021

Press Release | St. Petersburg | 25 January 2021

Lenta Reports Retail Sales Growth of 5.7% in Q4 and 7.3% in FY 2020

FY 2020 Highlights

-- In FY 2020, Retail Sales increased by 7.3% to RUB 438 billion despite changing customer behavior. This increase was mainly driven by an 11.6% rise in Average Ticket for both Hypermarkets and Supermarkets and partially offset by a 3.9% decrease in the Number of Tickets

-- LFL Sales growth remained strong at 5.4% in FY 2020 with Average Ticket growth of 11.6% and customer Traffic decline of 5.5%

-- Lenta continued developing its online services, and by the end of 2020, the company's online services were available in 88 Russian cities compared to 27 cities a year earlier. As a result, Online Sales and Online Orders grew by 566% and 716% respectively, to RUB 6.3 billion and 3.2 million orders

-- In 2020, Lenta added 13 stores on a net basis, bringing the total number of retail stores to 393 and Total Selling Space to 1.52 million square meters as of 31 December 2020

Q4 2020 Highlights

-- Retail Sales rose by 5.7% year-over-year to RUB 122 billion in Q4 2020, driven by a 12.4% increase in Average Ticket and partially offset by a 5.9% decrease in the Number of Tickets

-- LFL Sales continued a steady growth of 4.0% in Q4 2020. A 13.2% increase in Average Ticket was partially offset by an 8.1% decline in Traffic, as customers choose to visit stores less and buy more per visit

-- In Q4 2020, Lenta continued to expand the presence of its online services to new cities. As a result, Total Online Sales totaled RUB 3.1 billion in Q4, up 933% year-over-year, while orders grew more than tenfold

-- Lenta added 8 stores on a net basis in Q4 2020, bringing the total number of retail stores to 393 and Total Selling Space to 1.52 million square meters as of 31 December 2020

-- In October, Lenta opened its thirteenth distribution center in the Leningrad region to supply the company's stores in St. Petersburg and the Northwest

St. Petersburg, Russia, 25 January 2021: Lenta PLC (MOEX & LSE: LNTA), one of the largest retail chains in Russia, today announces its operational results for Q4 and FY 2020. A conference call with management to discuss these results is scheduled for today (see below for dial-in details).

Vladimir Sorokin, Chief Executive Officer:

"Lenta closed the year on a strong footing, with solid Retail Sales growth across our Hypermarket, Supermarket and Online formats. I'm proud that we managed to achieve these results while maintaining our unwavering commitment to the safety and well-being of our customers and employees.

The second wave of the COVID-19 pandemic continued to impact customer behavior during the fourth quarter of 2020, as customers preferred to make less frequent visits to stores. Lenta's Retail Sales in Q4 2020 increased by 5.7% compared to Q4 2019. This was driven by a 12.4% growth in the Average Ticket size, supported by an increase in the number of items per receipt and a noticeable trend of trading up, but this was partially offset by a 5.9% decrease in customer Traffic. Hypermarket performance remained resilient in the current environment, thanks to our competitive range of products, attractive pricing, and safer stores; while the further development of Lenta's online sales played an important role in supporting growth. By the end of 2020, we had expanded our online presence to all 88 cities in which we have big-box stores in Russia.

December sales were traditionally strong as seasonal shopping drew customers into Lenta stores ahead of the extended January holidays, which many of our customers spent at home. In addition, our freshly revamped loyalty program and successful seasonal promo activities provided strong momentum into the new year.

Following the approval of Lenta's new charter at the EGM in November, Lenta's re-domiciliation in Russia remains on track, and we aim to complete the process in the first quarter of 2021."

 
   4th Quarter - LFL RESULTS                          Q4             Q4            Q4 
                                                     Sales     Average Ticket   Traffic 
 
                        Total Retail                 4.0%          13.2%         -8.1% 
                        Hypermarkets                 4.3%          12.6%         -7.4% 
                        Supermarkets                 0.6%          13.7%         -11.6% 
 
   4th Quarter - OPERATING RESULTS (Year-over-Year) 
                                         Q4 2020     Q4 2019           Change   % Change 
 
 Total Sales (RUB millions)              124,172     117,893            6,280       5.3% 
   Retail Sales                          121,786     115,180            6,606       5.7% 
       Hypermarkets                      111,700     105,419            6,281       6.0% 
       Supermarkets                       10,086       9,761              325       3.3% 
   Wholesale                               2,386       2,713             -327     -12.0% 
 
 Average Ticket (RUB)                      1,201       1,068              133      12.4% 
   Hypermarkets                            1,336       1,188              148      12.4% 
   Supermarkets                              567         512               55      10.8% 
 
 Number of Tickets (millions)                101         108               -6      -5.9% 
   Hypermarkets                               84          89               -5      -5.8% 
   Supermarkets                               18          19               -1      -6.8% 
 
 Total Retail Stores (eop)                   393         380               13 
   Hypermarkets                              254         249                5 
       Openings                                4           4 
       Closing                                 0           1 
   Supermarkets                              139         131                8 
       Openings                                6           2 
       Closing                                 2           0 
 
 New Selling Space (sqm, eop)             24,347      17,490            6,857 
   Hypermarkets                           21,554      16,179            5,375 
   Supermarkets                            2,793       1,311            1,482 
 
 Total Selling Space (sqm, eop)        1,518,598   1,489,229           29,369       2.0% 
   Hypermarkets                        1,400,788   1,378,569           22,219       1.6% 
   Supermarkets                          117,810     110,660            7,150       6.5% 
 
 Total Online Sales (RUB, millions)        3,088         299            2,789       933% 
 
 Total Online Orders (thousands)           1,673         129            1,544     1,198% 
 
 Cities of Online Operation 
   Online Partners                            88          27               61       226% 
   Lentochka                                  80           1               79 
   Click & Collect                            88           0               88 
 
 
   Full Year - LFL RESULTS                         FY             FY            FY 
                                                  Sales     Average Ticket   Traffic 
 
                     Total Retail                 5.4%          11.6%         -5.5% 
                     Hypermarkets                 5.1%          11.6%         -5.8% 
                     Supermarkets                 9.5%          14.0%         -3.9% 
 
   Full Year - OPERATING RESULTS (Year-To-Date) 
                                      FY 2020     FY 2019           Change   % Change 
 
 Total Sales (RUB millions)           445,544     417,500           28,044       6.7% 
   Retail Sales                       437,493     407,761           29,731       7.3% 
       Hypermarkets                   399,262     372,787           26,475       7.1% 
       Supermarkets                    38,231      34,974            3,256       9.3% 
   Wholesale                            8,051       9,739           -1,688     -17.3% 
 
 Average Ticket (RUB)                   1,115         999              116      11.6% 
   Hypermarkets                         1,238       1,109              129      11.6% 
   Supermarkets                           549         486               62      12.8% 
 
 Number of Tickets (millions)             392         408              -16      -3.9% 
   Hypermarkets                           323         336              -14      -4.0% 
   Supermarkets                            70          72               -2      -3.1% 
 
 Total Retail Stores (eop)                393         380               13 
   Hypermarkets                           254         249                5 
       Openings                             6           8 
       Closing                              1           3 
   Supermarkets                           139         131                8 
       Openings                            14           3 
       Closing                              6           7 
 
 New Selling Space (sqm, eop)          29,369      23,395            5,974 
   Hypermarkets                        22,219      25,104          - 2,885 
   Supermarkets                         7,150     - 1,709            8,859 
 
 Total Selling Space (sqm, 
  eop)                              1,518,598   1,489,229           29,369       2.0% 
   Hypermarkets                     1,400,788   1,378,569           22,219       1.6% 
   Supermarkets                       117,810     110,660            7,150       6.5% 
 
 Total Online Sales (RUB, 
  millions)                             6,269         942            5,328       566% 
 
 Total Online Orders (thousands)        3,249         398            2,850       716% 
 
 Cities of Online Operation 
   Online Partners                         88          27               61       226% 
   Lentochka                               80           1               79 
   Click & Collect                         88           0               88 
 
   1.    LFL Results do not include 29-Feb-2020 
 
   4Q Monthly - OPERATING RESULTS 
                                      October     YoY    November      YoY      December           YoY 
 
 Total Sales (RUB millions)            34,297    8.2%      34,517     1.6%        55,358          6.0% 
   Retail Sales                        33,485    8.5%      33,832     2.0%        54,468          6.5% 
       Hypermarkets                    30,456    8.7%      30,825     2.0%        50,419          6.8% 
       Supermarkets                     3,030    6.4%       3,007     1.3%         4,050          2.7% 
   Wholesale                              812   -1.9%         685   -12.9%           889        -19.1% 
 
 Average Ticket (RUB)                   1,055   11.2%       1,100    10.1%         1,400         15.1% 
   Hypermarkets                         1,176   11.3%       1,224    10.3%         1,548         14.9% 
   Supermarkets                           517    9.7%         539     9.2%           638         13.5% 
 
 Number of Tickets (millions)              32   -2.5%          31    -7.4%            39         -7.4% 
   Hypermarkets                            26   -2.4%          25    -7.5%            33         -7.0% 
   Supermarkets                             6   -3.0%           6    -7.3%             6         -9.5% 
 
 Total Retail Stores (eop)                385                 389                    393 
   Hypermarkets                           250                 253                    254 
       Openings                             0                   3                      1 
       Closing                              0                   0                      0 
   Supermarkets                           135                 136                    139 
       Openings                             2                   1                      3 
       Closing                              2                   0                      0 
 
 New Selling Space (sqm, 
  eop)                                 -1,150              16,942                  8,555 
   Hypermarkets                             0              16,288                  5,266 
   Supermarkets                        -1,150                 654                  3,289 
 
 Total Selling Space (sqm, 
  eop)                              1,493,101    1.0%   1,510,043     1.6%     1,518,598          2.0% 
   Hypermarkets                     1,379,234    0.8%   1,395,522     1.5%     1,400,788          1.6% 
   Supermarkets                       113,867    2.9%     114,521     3.5%       117,810          6.5% 
 
 Total Online Sales (RUB, 
  millions)                               752    744%         967     957%         1,370     1,055% 
 
 Total Online Orders (thousands)          425    998%         532   1,238%           716        1,321% 
 
 Cities of Online Operation 
   Online Partners                         88    226%          88     226%            88          226% 
   Lentochka                               55                  70                     80 
   Click & Collect                         52                  88                     88 
 
 

Operating Results Commentary

Lenta's Retail Sales in Q4 2020 increased by 5.7% compared to Q4 2019. This increase was driven by a 12.4% growth in Average Ticket size during Q4, which was partially offset by a 5.9% decrease in customer Traffic. Lenta stores, especially Hypermarkets, continued to show good performance in Q4 2020, amid the second wave of pandemic, further proving the resilience of the Hypermarket format in current environment. The Hypermarket format delivered 6.0% growth in Retail Sales, as a result of a 12.4% increase in the Average Ticket size, which was partially offset by a 5.8% decrease in customer Traffic. Our Supermarket format posted 3.3% growth in Retail Sales, reflecting an increase in the Average Ticket size of 10.8% and a decrease in customer Traffic of 6.8%.

While customer behavior was uneven across Q4, we saw particularly strong results in December, supported in part by a successful "Moomin Trolls" Christmas promo and the launch of a new loyalty card as part of our newly revamped loyalty program, which is already delivering tangible results with the number of new enrollments significantly above expectations.

During Q4, LFL Retail Sales grew by 4.0% as the Average Ticket size increased by 13.2%. LFL customer Traffic decreased 8.1% during Q4, reflecting consumers' continuing preference to shop less frequently during the post-lockdown period amid the continued pandemic. The Hypermarket format delivered a particularly strong performance in Q4 with LFL Retail Sales up 4.3%, driven by a 12.6% increase in the Average Ticket size offset by a 7.4% decrease in customer Traffic. Lenta's Supermarkets posted Q4 LFL Retail Sales growth of 0.6% with the Average Ticket size up 13.7% and a decrease in customer Traffic of 11.6%. FY 2020 LFL Retail Sales growth of 5.4% was supported by an 11.6% increase in the Average Ticket size partially offset by a 5.5% decrease in customer Traffic.

Lenta opened four new hypermarkets and six new supermarkets during Q4 2020. Lenta also closed two supermarkets during the reporting period, bringing the total number of Lenta stores at the quarter end to 254 hypermarkets and 139 supermarkets.

Lenta made significant progress in developing its fast-growing online sales channels in Q4 2020. By the end of FY 2020, the company served online customers across all 88 cities where it operates, resulting in RUB 6.3 billion of Total Online Sales, which represented a 566% growth compared to FY 2019. Lenta continues to develop its own express delivery service, Lentochka, which at the end of the reporting period operated in 80 cities across Russia with more on the way. Lenta has also created partnerships with 36 delivery companies to fulfill online orders from its extensive store network. Lenta's new Click & Collect service operated in 88 cities covering its entire store network at the end of FY 2020. According to internal analysis, our online channels did not cannibalize offline store sales but, rather, added incremental and new revenues.

COVID-19 Response: As the second wave of the COVID-19 pandemic swept across Russia in Q4, Lenta's COVID-19 response team that was formed in March continued to monitor the situation closely to coordinate Lenta's response and ensure the safety and well-being of its customers and employees.

Lenta has worked closely with its suppliers throughout the pandemic to ensure its shelves remain sufficiently stocked with both food and non-food products to meet increased demand. Comprehensive health and safety measures that were introduced in March across Lenta's business remain in place to ensure the ongoing safety of our employees and customers in all of our stores. Additionally, Lenta continues to offer some important social support initiatives, including discounts for "front-line" medical workers and easier store access and discounted prices for our elderly and vulnerable customers.

FY 2021 Outlook

Lenta will provide detailed guidance projections for 2021 at the time of its publication of FY-2020 financial results on 20 February and at our Strategy Day on 18 March.

Q4 and FY 2020 Conference Call

The Lenta Management Team will host an investor and analyst conference call at 17:00 Moscow time (14:00 London, 09:00 New York), on Monday, 25 January 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:

Conference ID: 16-662-38 ("Lenta Q4 2020 Operational Results Conference Call")

   Russian Federation:         +7 495 646 9190 (local access) 

8 10 800 2867 5011 (toll-free)

   United Kingdom:             +44 (0)330 336 9411 (local access) 

0800 279 7204 (toll-free)

   United States:                 +1 646-828-8193 (local access) 

888-394-8218 (toll-free)

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                                      Lenta 
  Mariya Filippova                           Timothy Post 
  Head of Public Relations and Government    Investor Relations Officer 
  Affairs                                    timothy.post@lenta.com 
  maria.filippova@lenta.com 
 
   EM (International Media Inquiries) 
   Lenta@em-comms.com 
 

About Lenta

Lenta is the largest hypermarket chain in the Russian Federation and the fourth largest food retailer. The Company was founded in 1993 in St. Petersburg and as of December 31, 2020 operated 254 hypermarkets and 139 supermarkets in 88 cities across 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, while the Lenta supermarket averages 800 square meters. The company operates 13 distribution centers throughout Russia. Lenta is listed on both the London Stock Exchange and Moscow Exchange, trading under the ticker: 'LNTA'.

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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTBIGDBRXDDGBS

(END) Dow Jones Newswires

January 25, 2021 02:00 ET (07:00 GMT)

1 Year Lenta 144a Chart

1 Year Lenta 144a Chart

1 Month Lenta 144a Chart

1 Month Lenta 144a Chart

Your Recent History

Delayed Upgrade Clock