- Russian budget retailer Fix Price reported 20.5% year-on-year increase in revenue and 27% in operating profit.
- Inflation and Western sanctions led to Russians turning to discount stores, leading to record high EBITDA margin of 19.5%.
- Investing in distribution centres to capture better construction terms and benefit from current market environment.
Discount retailer Fix Price's revenue surges as Russians rein in spending
Russian budget retailer Fix Price reported a surge in revenue and profit in 2022 as consumers switched to discount stores amid higher inflation and falling wages. Record high EBITDA margin of 19.5%.