25th Apr 2008 07:00
OJSC Magnit25 April 2008 Press-releaseKrasnodarApril 25, 2008 OJSC "Magnit" announces unaudited March 2008 trading update Krasnodar, April 25, 2008: OJSC Magnit (the "Company"; RTS: MGNT) is pleased toannounce its unaudited March 2008 results(1). During 3M 2008 the Company opened (net) 41 stores (39 convenience stores and 2hypermarkets) with its total store base reaching 2,238 stores at the end of thisperiod. Preliminary consolidated unaudited net retail revenue in 3M2008increased by 37.64% in ruble terms (compared to 3M2007) and stood at 28,012.96million rubles. Net retail sales in dollars increased by 49.25% YoY and stood atUS$ 1,154.69 million. March 2008 Key Operating and Financial Highlights: March 2008 March 2007 Growth Rate 3M2008 3M2007 Growth RateNumber of opened stores, NET 21 22 n/a 41 37 n/aTotal number of stores 2,238 1,930 n/a 2,238 1,930 n/aSelling space, sq.m. 674,935 546,489 23.50% 674,935 546,489 23.50%Number of customers, million n/a n/a n/a 197.78 176.89 11.81%Net retail sales, million RUR 10,105.20 7,292.20 38.58% 28,012.96 20,352.34 37.64%Net retail sales, million US$ 425.28 279.28 52.28% 1,154.69 773.67 49.25% LFL growth 3M 2008 to 3M 2007(2)Average ticket (excl. VAT), RUR 21.11%Average ticket (excl. VAT), USD 31.33%Number of tickets (2.64%)Revenue, RUR 17.92%Revenue, USD 27.87% 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) 277-45-62Dina 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 retailtrade under the "Magnit" name. The chain of "Magnit" stores is one of theleading operators in the Russian food retail market. As of December 31, 2007 thechain consisted of 2,194 convenience stores and 3 hypermarkets in more than 700locations in the Russian Federation. Approximately two-thirds of the Company's stores are located in cities with apopulation of less than 500 thousand. Most of its stores are located within theSouthern, Central and Volga regions. The Company also operates stores in theNorth-Western and Urals regions. As of December 31, 2007 the Company operates an in-house logistics systemconsisting of 8 distribution centers, employing automated stock replenishmentsystems and a fleet of 802 vehicles. In accordance with the audited IFRS consolidated financial statements, for 2007,the Company posted consolidated revenues of approximately US$ 3,677 million anda consolidated EBITDA of around US$ 219 million. --------------------------------------------------------------------------------(1) Management accounts(2) Applicable to 1,487 stores opened by July 01, 2006. Thus, LFL analysis isbased on the stores that have been operating not less than six months, i.e.achieved the mature level of sales. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MGNT.L