14th May 2012 07:00
Press-release
Krasnodar
May 14, 2012
OJSC "Magnit" announces unaudited April 2012 results
Krasnodar, May 14, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce its unaudited April 2012 results[1]
During 4M 2012 the Company opened (net) 221 stores. The total store base reached 5,530 stores (5,142 convenience stores, 93 hypermarkets, 5 "Magnit Family" stores and 290 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 4M 2012 increased by 32.40% in ruble terms (compared to 4M 2011) and stood at 135,085.18 million rubles.
To estimate sales growth rate it should be noted that food inflation in April 2012 y-o-y amounted to 1.2% compared to 14.1% in April 2011 y-o-y.[2]
April 2012 Key Operating and Financial Highlights:
April 2012 | April 2011 | Growth Rate | 4M 2012 | 4M 2011 | Growth Rate | |
Number of opened stores, NET | 64 | 88 | n/a | 221 | 222 | n/a |
convenience stores | 38 | 73 | n/a | 136 | 199 | n/a |
hypermarkets | 2 | 5 | n/a | 3 | 11 | n/a |
magnit family | - | - | n/a | 2 | - | |
cosmetics stores | 24 | 10 | n/a | 80 | 12 | n/a |
Total number of stores | 5,530 | 4,277 | n/a | 5,530 | 4,277 | n/a |
convenience stores | 5,142 | 4,201 | n/a | 5,142 | 4,201 | n/a |
hypermarkets | 93 | 61 | n/a | 93 | 61 | n/a |
magnit family | 5 | 1 | n/a | 5 | 1 | |
cosmetics stores | 290 | 14 | n/a | 290 | 14 | n/a |
Selling space, thousand sq. m. | 2,048.01 | 1,530.64 | 33.80% | 2,048.01 | 1,530.64 | 33.80% |
convenience stores | 1,687.16 | 1,333.43 | 26.53% | 1,687.16 | 1,333.43 | 26.53% |
hypermarkets | 286.28 | 192.89 | 48.42% | 286.28 | 192.89 | 48.42% |
magnit family | 6.20 | 1.47 | n/a | 6.20 | 1.47 | n/a |
cosmetics stores | 68.36 | 2.84 | n/a | 68.36 | 2.84 | n/a |
April 2012 | April 2011 | Growth Rate | 4M 2012 | 4M 2011 | Growth Rate | |
Net retail sales, million RUR | 34,491.75 | 26,993.96 | 27.78% | 135,085.18 | 102,025.26 | 32.40% |
convenience stores | 28,440.58 | 23,471.14 | 21.17% | 112,099.37 | 89,809.95 | 24.82% |
hypermarkets | 5,584.88 | 3,487.41 | 60.14% | 21,265.15 | 12,101.01 | 75.73% |
magnit family | 153.69 | 27.74 | n/a | 455.26 | 96.12 | n/a |
cosmetics stores | 312.60 | 7.67 | n/a | 1,265.40 | 18.19 | n/a |
Net retail sales, million US$[3] | 1,170.22 | 960.47 | 21.84% | 4,492.60 | 3,520.71 | 27.60% |
convenience stores | 964.92 | 835.12 | 15.54% | 3,728.15 | 3,099.18 | 20.29% |
hypermarkets | 189.48 | 124.09 | 52.70% | 707.23 | 417.58 | 69.36% |
magnit family | 5.21 | 0.99 | n/a | 15.14 | 3.32 | n/a |
cosmetics stores | 10.61 | 0.27 | n/a | 42.08 | 0.63 | n/a |
For further information, please contact:
Oleg Goncharov | Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5100 Mob.: +7 (903) 411-40-35 Direct line for investors only: +7 (861) 277-45-62 |
Dina Svishcheva | Manager, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101 Mob.: +7-961-511-02-02 Direct line for investors only: +7 (861) 277-45-62 |
Company description:
Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" (LSE and MICEX: MGNT, S&P: "BB-") is the holding company for a group of entities that operate in the retail trade under the "Magnit" brand. The chain of "Magnit" stores is one of the leading food retail networks in Russia. As of March 31, 2012 the chain consisted of 5,104 convenience stores, 91 hypermarkets, 5 "Magnit Family" stores and 266 cosmetics stores (drogerie) in 1,424 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions.
As of March 31, 2012 the Company operated an in-house logistics system consisting of 15 distribution centers, employing automated stock replenishment systems and a fleet of 3,922 vehicles.
In accordance with the audited IFRS consolidated financial statements for 2011, the Company recorded consolidated revenue of approximately US$ 11,423 million and consolidated EBITDA of around US$ 939 million.
[1] According to management accounts
[2] www.gks.ru
[3] Based on the average exchange rate for April 2012 of 29.4745 RUB per 1 USD, April 2011 - 28.1050 RUB per 1 USD, 4М 2012 - 30.0684 RUB per 1 USD, 4M 2011 - 28.9786 RUB per 1 USD
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