Lenta IPJSC (LNTA;LENT) Lenta IPJSC: LENTA REPORTS TOTAL SALES
GROWTH OF 23.4% AND ONLINE SALES GROWTH OF 184.2% 25-Apr-2022 /
09:00 CET/CEST Dissemination of a Regulatory Announcement,
transmitted by EQS Group. The issuer is solely responsible for the
content of this announcement.
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Press Release | St. Petersburg | 25 April 2022 LENTA REPORTS
TOTAL SALES GROWTH OF 23.4% AND ONLINE SALES GROWTH OF 184.2%
25 April 2022
Lenta IPJSC (LSE: LNTA, MOEX: LENT), one of the largest multi-format retail chains in Russia, today
St. announces its operational results and financial highlights for the first quarter of 2022.
Petersburg,
Russia
Q1 2022 Highlights1,2
-- Total Sales increased by 23.4% y-o-y to RUB 132.4 billion
-- Retail Sales reached RUB 130.5 billion representing 23.3%
y-o-y growth
-- LFL Sales increased by 7.8% driven by 9.4% LFL Average Ticket
growth
-- Online Sales grew by 184.2% y-o-y to RUB 10.8 billion
-- The company opened 44 small-format stores on a gross
basis
-- Total Selling Space increased by 16.4% bringing Total Selling
Space to 1,772.4 thousand sq. m.
-- Gross Profit increased by 28.2% y-o-y to RUB 30.0 billion.
Gross Margin increased by 86 bps andstood at 22.7%
-- EBITDA was RUB 6.9 billion with a 5.2% EBITDA Margin
-- CapEx stood at RUB 4.0 billion, up 25% y-o-y
-- The Net Debt to EBITDA (LTM) ratio stood at 1.8x vs. 1.4x as
of 31 December 2021 1. Including Utkonos results starting from 1
February 2022. 2. Please note that all Financial Highlights are
based upon IAS 17 figures Vladimir Sorokin, Chief Executive
Officer: "In the current situation, Lenta's top priority continues
to be serving our more than 21 million loyal customers for whom we
provide essential food and household items. Just as always, we
guarantee affordable prices and a wide assortment of products, even
despite the changing external environment. We continue to operate
all our stores and have quickly adapted to address the challenges
that have risen over the past two months. We adjusted our supply
chains, modified some operational processes, and revised certain
approaches to working with suppliers. The Lenta team continues to
monitor developments affecting our business on a daily basis so
that we may swiftly adapt to the new operating environment. We
remain true to the strategy we announced in 2021. Now more than
ever it is vital to seek out opportunities to increase
profitability and optimize costs. We aim to increase our market
share while maintaining our position as the most profitable food
retailer in Russia. In Q1 2022, we continued the process of
integrating Billa and Semya stores, and also began integrating
Utkonos. 44 Mini Lenta and Super Lenta stores were opened during
the reporting period. Our core business, hypermarkets, performed
strongly, with retail sales up 8.8%. Online continues to be one of
the important drivers of Lenta's revenue growth; in Q1 2022, sales
of Lenta Online and partner services reached RUB 8.6 billion.
The events of the past two months have also brought changes to
our executive management team and Board of Directors. I want to
thank our employees, who in this difficult moment have taken on
additional responsibilities. Despite the challenges ahead of us, I
am confident that we have the right strategy and a strong team to
support Lenta's growth and development going forward." Q1 2022
OPERATING RESULTS, y-o-y
Sales3
Q1'22 Q1'21 Change % Change
Total Sales (RUB millions) 132,370 107,312 25,058 23.4%
Retail Sales 130,546 105,881 24,665 23.3%
Hypermarkets 104,695 96,190 8,505 8.8%
Small Formats 23,656 9,691 13,965 144.1%
Utkonos4 2,195 - - -
Wholesale5 1,824 1,431 393 27.5%
Average Ticket (RUB) 1,078 1,126 -48 -4.3%
Hypermarkets 1,370 1,249 121 9.7%
Small Formats 536 571 -35 -6.0%
Utkonos 4,282 - - -
Number of Tickets (millions) 121 94 27 28.8%
Hypermarkets 76 77 -1 -0.8%
Small Formats 44 17 27 159.8%
Utkonos 0.5 - - -
Stores and Selling Space
Q1'22 Q1'21 Change % Change
Total Retail Stores (eop) 795 394 401 101.8%
Hypermarkets 254 254 0 0.0%
Openings 0 1 -1 -100.0%
Closing 0 1 -1 -100.0%
Small Formats 541 140 401 286.4%
Openings 44 2 42 2,100.0%
Closing 6 1 5 500.0%
New Selling Space (sqm, eop) 17,433 3,499 13,934 398.2%
Hypermarkets 0 2,899 -2,899 -100.0%
Small Formats 17,433 600 16,833 2,805.5%
Total Selling Space (sqm, eop) 1,772,416 1,522,097 250,319 16.4%
Hypermarkets 1,401,291 1,403,687 -2,396 -0.2%
Small Formats 371,125 118,410 252,715 213.4%
LFL Results
Q1'21
Sales Average Ticket Traffic
Total Retail 7.8% 9.4% -1.4%
Hypermarkets 8.6% 9.7% -1.0%
Small Formats -0.1% 3.6% -3.6%
Online Sales
Q1'22 Q1'21 Change % Change
Total Online Sales (RUB, millions) 10,837 3,813 7,023 184.2%
Online Partners 3,533 2,259 1,274 56.4%
Lenta Online6 5,046 1,554 3,492 224.6%
Utkonos7 2,258 - - -
Average Online Ticket (RUB) 2,215 1,772 443 25.0%
Online Partners 1,890 1,847 42 2.3%
Lenta Online6 2,014 1,672 342 20.4%
Utkonos7 4,358 - - -
Total Online Orders (thousands) 4,893 2,152 2,740 127.3%
Online Partners 1,869 1,223 647 52.9%
Lenta Online6 2,505 929 1,576 169,5%
Utkonos7 518 - - -
For Q1 2022 monthly operating results please refer to Appendix
1
3. Including Utkonos results from the date of consolidation (1
February 2022).
4. Includes only Utkonos Retail Sales (B2C)
5. Wholesales includes Utkonos wholesales (B2B)
6. Lenta online includes Click & Collect
7. Includes both Utkonos retail sales (B2C) and wholesales (B2B)
Q1 2022 OPERATING RESULTS
In Q1 2022, Total Sales increased by 23.4% to RUB 132.4 billion.
Lenta's Retail Sales in Q1 2022 increased by 23.3% to RUB 130.5
billion compared to RUB 105.9 billion in Q1 2021, driven by 7.8%
LFL Retail Sales growth and 16.4% Total Selling Space expansion
both organically and inorganically. Overall Sales Density in Q1
2022 improved by 2.6% year-over-year.
Traffic in some of Lenta's stores in January - February was
affected by the raising number of COVID cases, as well as by
COVID-related restrictions in various regions of Russia. In March
on the contrary Lenta stores faced increased customer demand which
led to March total Retail Sales growth by 35.8%.
In Q1 2022, the Number of Tickets increased by 28.8% thanks to
the expansion, while the Average Ticket size decreased by 4.3%
primarily due to increasing share of small-format stores sales in
total Retail Sales.
Wholesale Sales, which now includes Utkonos B2B sales from the
date of the consolidation, represented 1.4% of Total Sales and
increased by 27.5% compared to the corresponding period of the
previous year.
As in the previous quarter, Average Ticket was the driver of LFL
Sales growth. LFL Sales growth continued to increase
quarter-on-quarter from 7.0% in Q4 2021 to 7.8% in Q1 2022. Total
Retail LFL Traffic improved compared to the previous quarter and
stood at a negative 1.4%. Total Retail LFL Average Ticket increased
by 9.4%, offsetting negative LFL Traffic.
In Q1 2022, Lenta continued to optimize its loyalty program,
which included improvements to loyalty program mechanics for
small-format stores. The number of customers who activated a new
Lenta #1 ?ard increased by 2.3 million, with the total number of
loyalty cards issued amounted to 21.3 million. Transactions using
loyalty cards accounted for 97.7% of total Retail Sales, excluding
Utkonos.
Hypermarket Sales represented 80% of total Retail Sales in Q1
2022. Hypermarkets delivered strong 8.8% Sales growth, positive LFL
Sales growth of 8.6%, and an increase of 9.7% in the LFL Average
Ticket. Lenta continues to improve the efficiency of in-store
operations which led to the sales density improvement amounted at
4.7% year-over-year. As of the end of the quarter Lenta operates 5
hybrid stores with designated areas for online orders picking.
In Q1 2022, 44 new small-format stores were opened. Lenta also
closed six underperforming stores to optimize operations, bringing
the total number of small-format stores to 541. Small Formats
Selling Space continued to increase and reached 371k square meters
in Q1 2022. In the reporting period Lenta's small-format stores
demonstrated significant year-over-year Sales Growth of 144.1%,
primarily driven by acquisitions made in 2021. Small-format stores
LFL Sales were almost flat, LFL Average Ticket increased by 3.6%,
while LFL Traffic stood at a negative 3.6%.
In Q1 2022, Lenta's Online channel continued to demonstrate very
strong sales growth. Total Online Sales including Utkonos sales
during the period amounted to RUB 10.8 billion, an increase of
184.2% year-over-year and 54.1% quarter-on-quarter, while Total
Online Orders were up 127.3% and amounted to 4.9 million. The
Average Ticket for Lenta Online was RUB 2,014 and increased by
20.4% year-over-year. During Q1 2022, Online Sales continued to
gain share in Lenta's Sales and following the Utkonos consolidation
reached 8.2% of Lenta's Total Sales. In Q1 2022, Lenta Online
continued the expansion of express delivery. As of the end of the
quarter, express delivery was available from 188 stores primarily
in Moscow and St. Peterburg.
Q1 2022 FINANCIAL HIGHLIGHTS
Key Financial Results
IAS 17 IFRS 16
RUB million Q1'22 Q1'21 Change Q1'22 Q1'21 Change
Total Sales 132,370 107,312 23.4% 132,370 107,312 23.4%
Gross Profit 30,041 23,431 28.2% 30,099 23,493 28.1%
Gross Margin (%) 22.7% 21.8% 86 bps 22.7% 21.9% 85 bps
SG&A (29,665) (21,563) -37.6% (29,036) (21,210) -36.9%
SG&A as % of Total Sales -22.4% -20.1% -232 bps -21.9% -19.8% -217 bps
EBITDAR 9,907 8,325 19.0% 9,961 8,599 15.8%
EBITDAR Margin 7.5% 7.8% -27 bps 7.5% 8.0% -49 bps
Rent as % of Total Sales -2.3% -1.5% -73 bps -0.3% -0.2% -9 bps
EBITDA 6,891 6,666 3.4% 9,530 8,347 14.2%
EBITDA Margin 5.2% 6.2% -101 bps 7.2% 7.8% -58 bps
Operating Profit before impairment 2,531 2,853 -11.3% 3,213 3,479 -7.6%
Operating Profit Margin before impairment 1.9% 2.7% -75 bps 2.4% 3.2% -81 bps
Reversal of impairment - (9) - - (9) -
Operating Profit 2,531 2,844 -11.0% 3,213 3,470 -7.4%
Operating Profit Margin 1.9% 2.7% -74 bps 2.4% 3.2% -81 bps
Net Interest Expense (1,055) (1,119) -5.7% (2,288) (1,788) -28.0%
Net FX loss (31) (5) -520.0% (341) (27) 1,211.5%
Profit Before Income Tax 1,445 1,720 -16.0% 584 1,656 -64.7%
Net Income 735 1,317 -44.2% 45 1,265 -96.4%
Net Income Margin 0.6% 1.2% -67 bps 0.0% 1.2% -114 bps
Total Sales demonstrated strong growth of 23.4% and amounted to
RUB 132.4 billion, compared to RUB 107.3 billion in 2021.
In Q1 2022, Gross Profit (IAS 17) rose by 28.2% year-over-year
to RUB 30.0 billion. Gross Margin improved by 86 bps to 22.7%
primarily due to lower promo share and sales mix shift to the
higher margin products including dry food and non-food in March.
This growth was offset by increased shrinkage as a proportion of
Total Sales, which resulted from a higher share of new stores in
the ramp-up stage.
Gross Profit growth was offset by Total SG&A increase of
37.6% leading to EBITDA (IAS 17) growth of only 3.4%
year-over-year. In Q1 2022, Lenta's EBITDA Margin stood at 5.2%.
EBITDA Margin declined by 101 bps compared to the previous year,
primarily due to the growth of SG&A as a percentage of Sales
resulted from an increased share of stores in ramp-up stage, the
growing share of Lenta's own online and the Utkonos
acquisition.
Selling, General, and Administrative (SG&A) expenses
IAS 17 IFRS 16
RUB million Q1'22 Q1'21 Change Q1'22 Q1'21 Change
Payroll and related taxes 12,427 8,492 46.3% 12,427 8,492 46.3%
as a % of Total Sales 9.4% 7.9% 147 bps 9.4% 7.9% 147 bps
Depreciation and Amortization (D&A) 4,360 3,813 14.3% 6,317 4,868 29.8%
as a % of Total Sales 3.3% 3.6% -26 bps 4.8% 4.5% 24 bps
Lease Expenses 3,016 1,660 81.7% 431 252 71.0%
as a % of Total Sales 2.3% 1.5% 73 bps 0.3% 0.2% 9 bps
Utilities 1,788 1,396 28.1% 1,788 1,396 28.1%
as a % of Total Sales 1.4% 1.3% 5 bps 1.4% 1.3% 5 bps
Store Operations 3,041 2,286 33.0% 3,041 2,286 33.0%
as a % of Total Sales 2.3% 2.1% 17 bps 2.3% 2.1% 17 bps
Professional Fees 1,374 1,112 23.6% 1,374 1,112 23.6%
as a % of Total Sales 1.0% 1.0% 0 bps 1.0% 1.0% 0 bps
Advertising 1,662 1,259 32.0% 1,662 1,259 32.0%
as a % of Total Sales 1.3% 1.2% 8 bps 1.3% 1.2% 8 bps
Other 1,997 1,545 29.2% 1,996 1,545 29.2%
as a % of Total Sales 1.5% 1.4% 7 bps 1.5% 1.4% 7 bps
Total SG&A 29,665 21,563 37.6% 29,036 21,210 36.9%
as a % of Total Sales 22.4% 20.1% 232 bps 21.9% 19.8% 217 bps
SG&A excluding D&A 25,305 17,750 42.6% 22,719 16,342 39.0%
as a % of Total Sales 19.1% 16.5% 258 bps 17.2% 15.2% 193 bps
In Q1 2022, Total Selling, General, and Administrative expenses
(IAS 17) increased by 37.6% year-over-year to RUB 29.7 billion.
SG&A as a percentage of Total Sales increased by 232 bps to
22.4%. This growth was mainly driven by higher payroll and related
taxes and lease expenses, as well as an increased in-store
operations costs.
In Q1 2022, Payroll and related taxes rose by 46.3%
year-over-year, while personnel expenses as a percentage of Total
Sales increased by 147 bps. This growth primarily resulted from
salary indexation, which took place in Q4 2021, a higher share of
stores in ramp-up stage and Utkonos acquisition.
D&A increased by 14.3% due to owned selling space growth by
2.7% year-over-year. D&A as a percentage of Total Sales
decreased by 26 bps due to the declining share of owned selling
space in Total Selling Space.
Lease expenses as a percentage of Total Sales rose by 73 bps,
primarily due to the acquisitions of Billa and Semya, both of which
have a higher percentage of leased versus owned stores in their
portfolios. The share of leased selling space for Lenta overall
increased to 35% as of 31 March 2022 compared to 26% a year
ago.
Store Operations as percentage of Total Sales increased by 17
bps year-over-year, mainly driven by repairs and maintenance
increased by 9 bps and cleaning costs growth by 6 bps, while
security costs were almost flat.
Advertising costs during Q1 2022 were up 32% year-over-year, due
to investments into our growing online channel as well as higher
expenses on TV and Internet advertising campaigns.
Cash Flow Statement
IAS 17 IFRS 16
RUB million Q1'22 Q1'21 Change Q1'22 Q1'21 Change
Profit before income tax 1,445 1,720 -16.0% 584 1,656 -64.7%
Net adjustments for loss on disposal of assets, impairment, 5,575 4,985 11.8% 9,080 6,695 35.6%
depreciation & amortization, and other
Movements in Working Capital (14,449) (6,955) -107.7% (14,496) (7,077) -104.8%
Cash (used in) / generated from operating activities (7,429) (250) -2,871.6% (4,832) 1,274 -
Net Interest & Income Taxes Paid (3,612) (2,000) -80.6% (4,847) (2,679) -80.9%
Net Cash used in Operating Activities (11,041) (2,250) -390.7% (9,679) (1,405) -588.9%
Net cash used in Investing Activities (3,998) (3,077) -29.9% (3,989) (3,069) -30.0%
Net cash used in financing activities (50) (573) 91.3% (1,421) (1,426) 0.4%
Effect of exchange rates on cash and cash equivalents 35 (10) - 35 (10) -
Net Decrease in Cash & Cash Equivalents (15,054) (5,910) -154.7% (15,054) (5,910) -154.7%
Capital Expenditures in Q1 2022 amounted to RUB 4.0 billion, an
increase of 25% year-over-year. This increase resulted from an
accelerated pace of new organic store openings (44 store openings
on a gross basis during Q1 2022 vs 2 store openings during Q1
2021), continuing IT development costs, and expenses related to the
integration of Billa stores.
The Company's Profit before income tax for the Q1 2022 equaled
RUB 1.4 billion, which was 16.0% lower than in Q1 2021. A negative
change in Working Capital of RUB 14.4 billion compared to a
negative change of RUB 7.0 billion the year before resulted
primarily from a decrease in trade payables.
In Q1 2022, Net Cash used in Operating Activities (IAS 17)
amounted to RUB 11.0 billion, compared to RUB 2.3 billion in the
previous year. These dynamics resulted from a negative movement of
Working Capital and higher interest and income taxes paid.
Net Cash used in Investing Activities increased by 29.9% to RUB
4.0 billion in Q1 2022 from RUB 3.1 billion in Q1 2021.
In Q1 2022, Net Cash used in Financing Activities amounted to
RUB 0.05 billion, compared to RUB 0.5 billion used in Q1 2021.
Free Cash Flow for Q1 2022 was negative RUB 15.0 billion, which
was RUB 9.7 billion lower than Free Cash Flow in Q1 2021, mainly
due to lower Net Cash used in Operating Activities.
Debt Position and Leverage
IFRS 16 IAS 17
RUB million 31-Ma-22 31-Dec-21 31-Mar-22 31-Dec-21
Gross Debt 149,030 148,962 88,525 88,414
Long-term Debt 61,886 66,912 61,886 66,912
Short-term Debt 26,639 21,502 26,639 21,502
Lease Liabilities (IFRS 16) 60,505 60,548 - -
Cash & Cash Equivalents 18,349 33,326 18,349 33,326
Net Debt 130,681 115,636 70,176 55,088
Net Debt / EBITDA (LTM) ratio 1.8x 1.4x
Lenta's cash position at the end of Q1 2022 was RUB 18.3
billion. Gross Debt was almost flat compared to 31 December 2021
and stood at RUB 88.5 billion as of 31 March 2022. Net Debt (IAS
17) increased by RUB 15.1 billion compared to 31 December 2021 and
stood at RUB 70.2 billion.
All the Company's debt has fixed interest rates and is fully
ruble-denominated matching its revenue structure. The LTM weighted
average effective interest rate for Lenta's debt portfolio for the
period ended 31 March 2022 was 7.04%, compared to 7.14% for the
twelve-month period ended 31 March 2021.
Lenta's Net Debt to EBITDA ratio was 1.8x as of 31 March 2022 vs
1.4x as of 31 December 2021.
FY'22 GUIDANCE WITHDRAWN
Due to the current uncertain operating environment caused by the
geopolitical situation, Lenta is withdrawing its previously issued
2022 guidance for store openings and Capex, and will not issue new
guidance for 2022 unless and until market conditions stabilize.
For further information, please contact:
Lenta
EM (International Media Inquiries)
Tatyana Vlasova Lenta@em-comms.com
Head of Investor Relations
tatyana.vlasova@lenta.com
Lenta
Mariya Filippova
Head of Public Relations and Government Affairs
maria.filippova@lenta.com About Lenta
Lenta IPJSC (LSE: LNTA, MOEX: LENT) is a leading Russian
multi-format food and FMCG retailer. The company operates
hypermarkets, supermarkets, and recently launched a new proximity
store format under the brand Mini Lenta. It also provides customers
the option to shop online via its own Lenta Online services, Online
Partners and the Utkonos platform. Lenta is Russia's largest
hypermarket operator and the fourth largest food retailer overall
by Sales. The company was founded in 1993 in St. Petersburg and as
of December 31, 2021, operated 254 hypermarkets and 541
supermarkets and Lenta Mini stores in over 200 cities and towns
across Russia, with almost 1.77 million square meters of Selling
Space. The average Lenta hypermarket has approximately 5,500 square
meters of Selling Space, the average Lenta supermarket has 800
square meters, and the Mini Lenta format is 500 meters on average.
The company operates 14 distribution centers to supply all its
stores. 2021 Revenues were RUB 484 billion (approximately USD 6.5
billion).
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.
Appendix 1
Q1 2022 MONTHLY OPERATING RESULTS
Sales3
January YoY February YoY March YoY
Total Sales (RUB millions) 39,244 15.8% 40,847 17.5% 52,279 35.3%
Retail Sales 38,780 15.4% 40,168 17.2% 51,599 35.8%
Hypermarkets 31,619 3.7% 32,109 2.9% 40,968 18.8%
Small Formats 7,161 130.8% 7,195 134.0% 9,300 164.7%
Utkonos4 - - 865 - 1,330 -
Wholesale5 464 62.4% 678 35.1% 681 5.9%
Average Ticket (RUB) 1,038 -7.1% 1,109 -6.7% 1,127 0.2%
Hypermarkets 1,310 7.3% 1,383 6.6% 1,409 14.4%
Small Formats 524 -8.1% 538 -7.8% 545 -2.8%
Utkonos - - 3,596 - 4,888 -
Number of Tickets (millions) 38 24.3% 37 25.7% 46 35.4%
Hypermarkets 24 -3.4% 23 -3.4% 29 3.8%
Small Formats 14 151.3% 13 153.8% 17 172.3%
Utkonos - - 0.2 - 0.3 -
Stores and Selling Space
January February March
Total Retail Stores (eop) 765 771 795
Hypermarkets 254 254 254
Openings 0 0 0
Closing 0 0 0
Small Formats 511 517 541
Openings 10 10 24
Closing 2 4 0
New Selling Space (sqm, eop) 5,389 397 11,647
Hypermarkets 0 0 0
Small Formats 5,389 397 11,647
Total Selling Space (sqm, eop) 1,760,372 1,760,769 1,772,416
Hypermarkets 1,401,291 1,401,291 1,401,291
Small Formats 359,081 359,478 371,125
Online Sales
January YoY February YoY March YoY
Total Online Sales (RUB, millions) 2,507 115.3% 3,664 185.1% 4,666 242.1%
Online Partners 1,082 44.4% 1,132 49.3% 1,318 75.5%
Lenta Online6 1,425 243.7% 1,623 208.0% 1,998 251.7%
Utkonos7 - - 908 - 1,350 -
Average Online Ticket (RUB) 1,876 10.7% 2,259 25.4% 2,412 32.9%
Online Partners 1,805 0.5% 1,909 1.8% 1,948 4.0%
Lenta Online6 1,934 25.8% 2,028 19.1% 2,064 18.0%
Utkonos7 - - 3,973 - 4,662 -
Total Online Orders (thousands) 1,336 94.5% 1,622 127.3% 1,934 157.4%
Online Partners 600 43.7% 593 46.7% 677 68.7%
Lenta Online6 737 173.3% 801 158.6% 968 176.3%
Utkonos7 - - 229 - 290 -
3. Including Utkonos results from the date of consolidation (1
February 2022).
4. Includes only Utkonos Retail Sales (B2C)
5. Wholesales includes Utkonos wholesales (B2B)
6. Lenta Online includes Click & Collect
7. Includes both Utkonos retail sales (B2C) and wholesales
(B2B)
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ISIN: US52634T2006, US52634T1016
Category Code: QRF
TIDM: LNTA;LENT
LEI Code: 213800OMCE8QATH73N15
Sequence No.: 157162
EQS News ID: 1333677
End of Announcement EQS News Service
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