Artem Khachatryan, one of the co-founders of Fix Price, has recently made the decision to leave the company. In an official announcement, it was stated that Khachatryan has sold his share of the company, amounting to 35.2% of the total capital. This also means that Khachatryan has stepped down from his position as the head of the board of directors, citing personal reasons. The press release, as reported by TAS-SS, reveals that the total number of shares sold by Khachatryan is 299 million.

In light of this development, Dmitry Kirsanov, the CEO of Fix Price, has taken the opportunity to acquire 1% or 8.5 million shares of the company’s capital. Sergey Lomakin, another major shareholder of Fix Price, has obtained the remaining 34.2% or 290.5 million shares. The announcement also mentions that there is a minority shareholder holding 27.5% of the company.

Fix Price is renowned as one of the leading discount retail chains in the international market. Recognized for its large network of stores offering affordable prices, the company holds a prominent position in Russia. According to the latest information available, as of September 30, 2023, the network consists of an impressive 6,162 stores located in Russia and neighboring countries. The company manages 12 distribution centers and operates in 80 regions of Russia along with eight other countries.

The financial performance of Fix Price during the January-September period of this year has displayed significant growth. Revenues have surged by 2.2 times, amounting to 27.093 billion rubles, which corresponds to a 4.1% increase compared to the previous year’s figure of 210.196 billion rubles. The company’s net profit has also experienced a 4.1% rise, reaching 186.205 billion rubles. Additionally, EBITDA has grown by 4.2%, with a value of 23.991 billion rubles. The corresponding margin, as measured by EBITDA, has been recorded at 17.8%, slightly lower than the previous year’s margin of 19.4% during the first nine months.

Source: NEWS.am