29th Dec 2008 07:07
Press-releaseKrasnodarDecember 29, 2008
OJSC "Magnit" announces the opening of the fourteenth hypermarket
KRASNODAR, December 29, 2008: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the fourteenth hypermarket.
Dear Ladies and Gentlemen!
We are glad to inform you that the opening of the fourteenth "Magnit" hypermarket located at 71 Sovetskaya street, Gelendzhik took place on December 27, 2008. Total space of the store is 4,745 sq. m. and its selling space is 2,500 sq. m. Assortment of the "Magnit" hypermarket consists of over 8,000 SKUs, out of which 70% are food items. There are 17 cash desks installed in the sales area.
For further information please contact:
|
Oleg Goncharov |
Director, Investor Relations e-mail: [email protected] tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5100 Mob.: +7 (903) 411-40 -35 Direct line for investors only: +7 (861) 277-45-62 |
|
Dina Chistyak |
Manager, Investor Relations e-mail: [email protected] tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101 Mob.: +7-961-511-02-02 Direct line for investors only: +7 (861) 277-45-62 |
Company description:
Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" is a holding company for a group of entities that operate in the retail trade under the "Magnit" name. The chain of "Magnit" stores is one of the leading operators in the Russian food retail market. As of September 30, 2008 the chain consisted of 2,394 convenience stores and 11 hypermarkets in 796 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500 thousand. Most of its stores are located within the Southern, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
As of September 30, 2008 the Company operated an in-house logistics system consisting of 8 distribution centers, employing automated stock replenishment systems and a fleet of 1,133 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 9M 2008, the Company posted consolidated revenues of approximately US$ 3,881 million and a consolidated EBITDA of around US$ 265 million.
Related Shares:
MGNT.L