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Sales update for the year to 31 December 2017
Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1940/014066/06)
Share code: MSM
ISIN: ZAE000152617
("Massmart" or "the Company")
Sales update for the year to 31 December 2017
Massmart’s 2017 financial year is a 53-week trading period ended 31 December 2017 which
complicates useful comparisons with the prior year’s 52-week period ended 25 December 2016.
Apart from the paragraph immediately below, this update focuses on the sales performances for
the current 52-week and prior 52-week periods.
For the 53 weeks to 31 December 2017 Massmart’s total sales increased to R93.7 billion,
representing 2.7% growth compared to the 52 weeks to 25 December 2016.
Total sales for the 2017 52-week period of R92.1 billion represents growth of 1.0%, with
comparable store sales declining by 0.8%. Product inflation is estimated at 2.0%.
Total sales growths for each division for the 52-week period (comparable sales growths in
brackets) and product inflation rates were as follows:
- Massdiscounters decreased by 2.8% (-4.2% comparable) with inflation of -2.5%
- Masswarehouse increased by 3.9% (2.4% comparable) with inflation of 2.3%
- Massbuild increased by 2.4% (1.6% comparable) with inflation of 3.7%
- Masscash increased by 0.4% (-2.3% comparable) with inflation of 3.9%
The second half of 2017 saw improved comparable sales performances in both Massbuild and
Masswarehouse in South Africa (SA) and in all divisions’ ex-SA stores. Management of
Massmart’s operating expenses and working capital remains effective.
Total sales from our SA stores for the 52-week period grew by 1.5%, while comparable SA store
sales declined by 0.2%.
Total sales from our ex-SA stores measured in constant currencies* for the 52-week period grew
by 3.5% with comparable store sales growth of 0.8%, while in Rands these were -4.8% and -7%
respectively.
Massmart’s 2017 financial results will be released on the Stock Exchange News Service of the
JSE Limited on 22 February 2018.
The above information has not been reviewed and reported on by the Company`s external
auditors.
* The constant currency information included in this sales update has been presented to illustrate
the Group’s underlying ex-SA business performance, in terms of sales growth, excluding the
effect of foreign currency fluctuations. In determining the application of constant currency, sales
for the prior comparable financial reporting period have been adjusted to take into account the
average daily exchange rate for the current period. The table below depicts the percentage
change in sales in both reported currency and constant currency for the given material currencies.
The constant currency information incorporated in this sales update has not been audited or
reviewed or otherwise reported on by our external auditors. The constant currency information is
the responsibility of the Directors of Massmart. It has been prepared for illustrative purposes only
and due to its nature, may not fairly present Massmart’s financial position, changes in equity,
results of operations or cash flows.
Sales growth in:
Reported Currency Constant Currency
Ghanaian Cedi 9.6% 34.3%
Mozambican Metical -28.5% -15.0%
Nigerian Naira -13.2% 23.1%
-16.3% 6.5%
Johannesburg
18 January 2018
Sponsor: Deutsche Securities (SA) Proprietary Limited
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