Fix Price Board of Directors temporarily suspended the dividend policy

AK&M 19 September 2022 14:40

The Board of Directors of Fix Price temporarily suspended the Group's dividend policy and canceled the planned payment of the previously announced final dividends for 2021 in the amount of 5.8 billion rubles. This is stated in the company's message.

The company emphasizes its intention to return to paying dividends as the situation with restrictions stabilizes. The company will promptly provide updated information to the market.

Fix Price is one of the leading stores on the international market and the largest in Russia chain of low fixed prices. As of March 31, 2022, the Fix Price store chain has 5083 stores in Russia and neighboring countries, each of which has about 2 thousand positions in about 20 product categories. In addition to its own brands, Fix Price sells products from local manufacturers and leading global brands. The company operates 8 distribution centers and operates in 80 regions of Russia, as well as in 6 foreign countries.

The net profit of Fix Price under IFRS for the first half of 2022 amounted to 5.1 billion rubles, which is 47.9% lower than a year earlier – 9.79 billion rubles. Revenue increased by 24.2% to RUB 131.79 billion from RUB 106.1 billion, gross profit – by 31.2% to RUB 43.48 billion from RUB 33.15 billion, EBITDA – by 31.1% to RUB 25.99 billion from RUB 19.83 billion.