16th May 2008 07:00
Press-release
Krasnodar
May 16, 2008
OJSC "Magnit" announces unaudited April 2008 trading update
Krasnodar, May 16, 2008: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited 4M 2008 results.
During 4M 2008 the Company opened (net) 67 stores (63 convenience stores and 4 hypermarkets) with its total store base reaching 2,264 stores at the end of this period. Preliminary consolidated unaudited net retail revenue in 4M2008 increased by 37.63% in ruble terms (compared to 4M2007) and stood at 37,894.58 million rubles. Net retail sales in dollars increased by 49.72% YoY and stood at US$ 1,574.03 million.
April 2008 Key Operating and Financial Highlights:
|
|
April 2008 |
April 2007 |
Growth Rate |
4M2008 |
4M2007 |
Growth Rate |
|
Number of opened stores, NET |
26 |
29 |
n/a |
67 |
66 |
n/a |
|
Total number of stores |
2,264 |
1,959 |
n/a |
2,264 |
1,959 |
n/a |
|
Selling space, sq.m. |
691,991 |
556,830 |
24.27% |
691,991 |
556,830 |
24.27% |
|
Net retail sales, million RUR |
9,881.61 |
7,181.21 |
37.60% |
37,894.58 |
27,533.55 |
37.63% |
|
Net retail sales, million US$ |
420.26 |
277.89 |
51.24% |
1,574.03 |
1,051.29 |
49.72% |
1Q 2008 report of OJSC "Magnit" can be found at http://www.magnit-info.ru/lib_files/403_8eaf0.pdf
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 December 31, 2007 the chain consisted of 2,194 convenience stores and 3 hypermarkets in more than 700 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 December 31, 2007 the Company operated an in-house logistics system consisting of 8 distribution centers, employing automated stock replenishment systems 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 and a consolidated EBITDA of around US$ 219 million.
Related Shares:
MGNT.L