MOSCOW, February 27. /TASS/. Net profit of retailer Fix Price under IFRS for 2022 increased by 0.1% year-on-year to 21.4 bln rubles ($283.9 mln), the company said on Monday.

Net profit margin decreased by 157 b.p. to 7.7%, EBITDA increased by 22.7% to 54.2 bln rubles ($718.62 mln), which is higher than the forecast given in the framework of the IPO. EBITDA margin increased by 36 b.p. up to 19.5%, the company said.

The ratio of selling, general, and administrative expenses to revenue rose to 14.1% from 13.1% in 12 months of 2021. Capital expenditures increased to 4.3% of the revenue for 12 months of 2022 from 2.7% in the previous year as the company decided to accelerate the expansion of its warehouse infrastructure. The retailer's revenue for 2022 increased by 20.5% to 277.6 bln rubles ($3.68bln).

Fix Price's net debt almost halved to 10.956 bln rubles ($145.26 mln), and the net debt to EBITDA ratio under IFRS 16 amounted to 0.2.

Fix Price's net profit in Q4 2022 grew by 43.8% year-on-year to 9.3 bln rubles ($123.3 mln), while the net profit margin increased by 255 b.p. to 12.3%. EBITDA rose by 12.8% to 15 bln rubles ($199.02 mln), while the EBITDA margin fell by 20 b.p. to 19.9%. The company’s Q4 2022 revenue increased by 13.9% year-on-year to 75.7 bln rubles ($1 bln).

Fix Price is the biggest chain of low fixed price stores in Russia. As of December 31, 2022, the retail chain operated 5,663 stores in Russia and CIS countries.