Information Magnet of ITM of MagnIT technologies

IT insider of the Magnit chain of stores.

Performance indicators

2022: Revenue growth by 82% to RUB 7,492 million

At the end of 2022, MagnIT's revenue increased by 82% to 7,492 million rubles (revenue from financial statements for 2021-2022 excluding VAT). In the ranking " TAdviser100: The largest IT companies in Russia 2023," such an indicator allowed the company to take 69th place.

History

2021

Revenue growth nearly doubled and profits more than tripled

The revenue of ITM, which acts as an IT insourcer of [1]the Magnit group, in 2021 increased by 77.7% compared to the previous year, from 2.3 billion to 4.1 billion rubles. At the same time, the company's profit for the year increased by 230.9%, from 192.7 million to 637.6 million rubles. Such data are published in the service "Kontur. Focus." In the ranking TAdviser100: The largest IT companies in Russia 2022 , ITM (Magnit) took 111th place. The revenue from the financial statements for 2020-2021 is indicated. Excluding VAT.

In 2021, ITM almost doubled revenue and more than tripled profits. Photo - Zeon lighting

The press service of the Magnit group declined to comment on the financial results of the IT division, citing the fact that they did not disclose data on individual legal entities.

According to the top manager of one of the integrators who worked with the Magnit retail chain, service companies engaged only in internal projects do not show profit, it is usually close to zero. The profit of insourcers appears only when they begin to provide services to third-party companies.

The state has been increasing measures to support IT companies for several years, for which preferential taxation and a reduced rate of insurance premiums have been launched. Therefore, many companies take IT divisions to individual legal entities, transfer personnel to them and start all projects on them that are only possible to start. The rapid growth of ITM revenue may indicate the optimization of the tax burden within the group. An extra confirmation of this is a slight increase in the number of ITM employees. If the company had an increased load, then new specialists would have to be hired for new tasks. And so we see that revenue has almost doubled, profit has more than tripled, and, for example, I have not heard that the company began working with external customers, "a representative of the Russian system integration market told TAdviser.

In July 2021, the Magnit group completed the purchase of the Dixy retail chain ^[1]/. And, it is likely that profit and revenue growth is associated with the integration of IT landscapes. For ITM, the Dixy network acted as a kind of external customer, which affected financial performance.

In the summer of 2021, the Magnit group ^[2] one of the priority tasks in the framework of the Dixy purchase will be to reduce costs by unifying business processes and IT and centralizing the functions of the back office and support. At the same time, the company announced the receipt of a synergistic effect from the sharing of technologies, data centers and customer data. The process of full integration of Magnit and Dixy, according to plans, should be completed in the first half of 2023.

ITM is accredited by the Ministry of Digital Science as an IT company, which means it has the right to enjoy benefits. The company employs more than 1.5 thousand employees, the average salary is about 100 thousand rubles. ITM CEO Dmitry Dereza also heads the Magnit [2] IT Lab company registered in 2019 in the Innopolis special economic zone (Tatarstan). This company in 2021 showed revenue of 33.4 million rubles.

Magnit creates a separate division for e-commerce

On July 15, 2021, Magnit announced the creation of a separate unit for the development of e-commerce projects and related infrastructure. It was headed by the former general director of Delivery Club Andrei Lukashevich. Read more here.

2020: Revenue growth by 22% to RUB 2.3 billion

At the end of 2020, the revenue of ITM, which acts as an IT insourcer of the Magnit group, amounted to 2,316,356 thousand rubles, an increase of 22% compared to 2019, which allowed it to take 18th place in the ranking of TAdviser "The largest IT-insourcing companies in Russia."

2019: Revenue - RUB 1.89 billion

At the end of 2019, ITM's revenue amounted to 1,889,850 thousand rubles.

Notes