Fix Price Financial and Operating Results for the Fourth Quarter and Fiscal Year 2023

Fix Price Group PLC released its operating and financial results for the fourth quarter (Q4 2023) and fiscal year 2023 (FY 2023), showing stable revenue growth and an increase in profitability. For Q4 2023, revenue increased by 7.8% compared to the previous year, reaching 81.7 billion rubles, with a notable increase of 8.0% in the retail segment. During this period, the company opened 252 new stores, bringing their total to 6,414.

Adjusted EBITDA under IFRS 16 for Q4 2023 saw an increase of 5.8% year-on-year, standing at 15.9 billion rubles. Net profit for the period was 8.6 billion rubles. For the full fiscal year 2023, Fix Price recorded revenue growth of 5.1%, with turnover amounting to 291.9 billion rubles. The company also noticed a 7.8% increase in annual gross profit, reaching 99.2 billion rubles.

Despite a difficult economic climate, Fix Price continued to focus on improving its customer offering, in particular by developing its assortment and deploying innovative technologies to improve the purchasing experience. The company also noted significant growth in its loyalty program, adding nearly 3.8 million new members during the year. Dmitry Kirsanov, CEO of Fix Price, emphasized the importance of the team and the flexibility of the company's business model in achieving these positive results.