8th May 2013 07:00
OJSC MAGNIT - April/4M 2013 ResultsOJSC MAGNIT - April/4M 2013 Results
PR Newswire
London, May 8
OJSC "Magnit" Announces 33% Retail Sales Growth in Rubles for April 2013
Krasnodar, May 8, 2013: OJSC "Magnit", Russia's largest retailer (the"Company"; MICEX and LSE: MGNT) announces 33% retail sales growth in rubles forApril 2013.
During April 2013 the Company opened (net) 92 stores. The total store basereached 7,167 stores (6,305 convenience stores, 134 hypermarkets, 22 "MagnitFamily" stores and 706cosmetics stores).
Preliminary consolidated unaudited net retail revenue (excl. VAT) in 4M 2013increased by 31.02% in ruble terms (compared to 4M 2012) and stood at176,991.00 million rubles .
April 2013 Key Operating and Financial Highlights:
April April Growth 4М 2013 4М 2012 Growth 2013 2012 Rate Rate Number of opened 92 64 n/a 283 221 n/astores, NET convenience stores 96 38 n/a 259 136 n/a hypermarkets 2 2 n/a 8 3 n/a magnit family 1 0 n/a 2 2 n/a cosmetics stores (7) 24 n/a 14 80 n/a Total number of 7,167 5,530 n/a 7,167 5,530 n/astores convenience stores 6,305 5,142 n/a 6,305 5,142 n/a hypermarkets 134 93 n/a 134 93 n/a magnit family 22 5 n/a 22 5 n/a cosmetics stores 706 290 n/a 706 290 n/a Selling space, 2,663.55 2,048.01 30.06% 2,663.55 2,048.01 30.06%thousand sq. m. convenience stores 2,057.47 1,687.16 21.95% 2,057.47 1,687.16 21.95% hypermarkets 414.65 286.28 44.84% 414.65 286.28 44.84% magnit family 26.94 6.20 n/a 26.94 6.20 n/a cosmetics stores 164.49 68.36 n/a 164.49 68.36 n/a Net retail sales, 45,773.13 34,491.75 32.71% 176,991.00 135,085.18 31.02%million RUR convenience stores 36,088.32 28,440.58 26.89% 140,233.55 112,099.37 25.10% hypermarkets 8,214.83 5,584.88 47.09% 30,885.73 21,265.15 45.24% magnit family 703.16 153.69 n/a 2,638.95 455.26 n/a cosmetics stores 766.81 312.60 n/a 3,232.78 1,265.40 n/a Net retail sales, 1,461.00 1,170.22 24.85% 5,775.88 4,492.60 28.56%million US$ convenience stores 1,151.88 964.92 19.38% 4,576.35 3,728.15 22.75% hypermarkets 262.20 189.48 38.38% 1,007.92 707.23 42.52% magnit family 22.44 5.21 n/a 86.12 15.14 n/a cosmetics stores 24.48 10.61 n/a 105.50 42.08 n/aFor further information, please contact:
Timothy Post Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 7600 Mob.: +7 (961) 511-76-78 Direct line for investors only: +7 (861) 277-45-62 Dina Svishcheva Deputy Director, 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) 277-45-62Company description:
Headquartered in the southern Russian city of Krasnodar, Magnit (LSE and MICEX:MGNT, S&P: "BB") is the holding company for a group of entities that operate inthe retail trade under the "Magnit" brand. The chain of "Magnit" stores is thelargest food retail network in Russia. As of March 31, 2013 the chain consistedof 6,209 convenience stores, 132 hypermarkets, 21 "Magnit Family" stores and713 cosmetics stores (drogerie) in 1,647 cities and towns throughout theRussian Federation.
Approximately two-thirds of the Magnit's stores are located in cities with apopulation of less than 500,000 inhabitants. Most of its stores are located inthe Southern, North-Caucasian, Central and Volga regions. The Company alsooperates stores in the North-Western, Urals and Siberian regions.
As of March 31, 2013 Magnit operated an in-house logistics system consisting of18 distribution centers, employing automated stock replenishment systems and afleet of 4,448 vehicles.
In accordance with the audited IFRS consolidated financial statements for 2012,Magnit recorded consolidated revenues of approximately $14.43 billion USD and aconsolidated EBITDA of $1.52 billion USD.
1 According to management accounts
2 As has been noted previously, the month of February 2012 occurred during a"leap year" and thus, there were 29 days (i.e. an extra day). February 2013, onthe other hand, occurred during a "normal year" in which there were only 28days.
This very same "leap year" effect/adjustment should also be calculated when onemakes the comparison between 4M 2012 numbers vs. 4M 2013 numbers.
Therefore, in order to fairly compare the 4M 2012 results to the 4M 2011results an amount of 1.45% should be subtracted for the 4M 2012, which wouldthen equal 30.95%. To compare the 4M 2013 results with the 4M 2012 resultscorrectly, an amount of 1.46% should be added, which would then equal 32.48%.
3 Based on the average exchange rate for April 2013 of 31.3300 RUB per 1 USD,April 2012 - 29.4745 RUB per 1 USD, 4M 2013 - 30.6431 RUB per 1 USD, 4M 2012 -30.0684 RUB per 1 USD
Related Shares:
MGNT.L