Fix Price Group (FIXPRICE) Q3 2025 earnings summary

Executive summary

• Revenue for 9M 2025 rose 8.1% year-over-year to RUB 237.6 bn, with retail revenue up 8.1% and wholesale revenue down 27.1%.

• Net profit for 9M 2025 was RUB 10.4 bn, a 31.4% decrease year-over-year, with a net profit margin of 4.4%.

• Store network expanded by 10% year-over-year, reaching over 7,600 stores as of September 2025, with 449 net new stores opened.

• Like-for-like sales rose 1.0% (leap-year adjusted) for 9M 2025, driven by a 4.7% increase in average ticket and strong food category performance.

• Gross margin remained stable at 33.4% in 9M 2025.

Financial highlights

• Q3 2025 revenue grew 5.4% year-over-year to RUB 83.1 bn; retail revenue up 8.4%, wholesale revenue down 23.9%.

• Adjusted EBITDA for Q3 2025 was RUB 12.1 bn (14.6% margin), down 2.5% YoY; for 9M 2025, adjusted EBITDA was RUB 32.8 bn (13.8% margin), down 7.1%.

• Net profit for Q3 2025 was RUB 4.2 bn, down 30.1% year-over-year; net profit margin at 5.0%.

• SG&A (excluding LTIP and D&A) rose to 20.6% of revenue in 9M 2025, mainly due to higher staff, repair, utilities, and other costs.

• Net finance costs increased sharply to RUB 1.2 bn in Q3 2025 (up 612% YoY).

Outlook and guidance

• On track to expand the chain by over 700 stores by year-end 2025.

• Continued focus on operational efficiency, product range expansion, and maintaining high gross margins.

• Management notes temporary EBITDA margin pressure due to a competitive labor market.