30th Dec 2010 10:02
Press-release
Krasnodar
December 30, 2010
Krasnodar, December 30, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) signs master agreement with MAN Nutzfahrzeuge for 1,700 vehicles.
Dear Ladies and Gentlemen!
We are glad to inform you that the Company has signed master agreement for 1,700 heavy TGS trucks with MAN Nutzfahrzeuge and its sales subsidiary MAN Avtomobili Rossiya (MAR).
Deliveries of the first 620 vehicles will begin in February 2011. The remaining 1,080 vehicles are to be delivered in the course of 2011.
Sergey Galitskiy, the Company's CEO, provided the following comments: "I am pleased with signing the contract with MAN, we need these vehicles. We have worked with MAN since 2005 and consider MAN our strategic and long-term partner".
About MAN Avtomobili Rossiya:
MAN Avtomobili Rossiya, a wholly-owned subsidiary of MAN Nutzfahrzeuge AG, runs a total of 4 sales centres and 45 service outlets in Russia/CIS with approximately 390 employees. By the end of 2010 MAN will have sold over 3,800 vehicles in the CIS region.
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