10th Dec 2010 07:58
Press-release
Krasnodar
December 10, 2010
OJSC "Magnit" announces the opening of the 42nd hypermarket
Krasnodar, December 10, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 42nd hypermarket.
Dear Ladies and Gentlemen!
We are glad to inform you that today the Company opened its 42nd hypermarket of the medium format located at 2G, Rokossovskogo street, Volgograd, Volgograd region. The total space of the store is over 14,000 sq. m. and its selling space is over 4,000 sq. m., out of which over 250 sq. m. is rental space. Assortment of the "Magnit" hypermarket consists of about 12,000 SKUs, out of which about 65% are food items. There are 21 cash desks installed in the sales area. The hypermarket is open 7 days a week from 10 am to 10 pm.
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 Svishcheva | 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 the holding company for a group of entities that operate in the retail trade under the "Magnit" brand. The chain of "Magnit" stores is one of the leading food retail networks in Russia. As of September 30, 2010 the chain consisted of 3,658 convenience stores and 35 hypermarkets in 1,156 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions.
As of September 30, 2010 the Company operated an in-house logistics system consisting of 10 distribution centers, employing automated stock replenishment systems and a fleet of 2,262 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 1H 2010, the Company recorded consolidated revenue of approximately US$3,448 million and consolidated EBITDA of around US$252 million.
Related Shares:
MGNT.L