25th Jun 2015 09:17
PJSC MAGNIT - 1500th Drogerie Store OpeningPJSC MAGNIT - 1500th Drogerie Store Opening
PR Newswire
London, June 25
Press-release
Krasnodar
June 25, 2015
PJSC “Magnit” Has Opened the 1500th Drogerie Store
Krasnodar, June 25, 2015: PJSC “Magnit”, Russia’s largest retailer (the “Company”; MOEX and LSE: MGNT) announces the opening of the 1500th drogerie store.
Please be informed that today the Company opened its 1500th drogerie store located at 27 K Mira prospect, Kuvandyk, Orenburg oblast. This is the first "Magnit Cosmetic" store in this location. The total space of the store is 185 sq. m. and its selling space is 160 sq. m. The outlet is leased by the Company. Population of Kuvandyk stands at over 25 000 people. In this town Magnit already operates six food convenience stores.
For further information, please contact:
| Timothy Post | Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 |
| Dina Svishcheva | Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 |
Company description:
Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of March 31, 2015, Magnit operated 28 distribution centers and over 10,000 stores (8,581 convenience, 300 hypermarkets, and 1,239 drogerie stores) in approximately 2,180 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS consolidated financial statements for 2014, Magnit had revenues of RUB 764 billion and an EBITDA of RUB 86 billion. Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.
Related Shares:
MGNT.L