25th Mar 2009 11:42
Press-release
Krasnodar
March 25, 2009
OJSC "Magnit" announces change of assets value and net profit amount (RAS, standalone basis)*
OJSC "Magnit" assets in 2008 compared to 2007 increased by 11,328,955 thousand rubles mainly due to funds raised from the offering of shares of additional issue.
|
Date of fact occurence: March 25, 2009 |
|
Value of OJSC "Magnit" assets as of 31.12.2007: 6,094,352 thousand rubles |
|
Value of OJSC "Magnit" assets as of 31.12.2008: 17,423,307 thousand rubles |
|
Absolute change of the Issuer's assets value:11,328,955 thousand rubles |
|
Relative change of the Issuer's assets value: 185.89% |
Increase of OJSC "Magnit" net profit from 12,075 thousand rubles in 2007 to 121,571 thousand rubles in 2008 was due to the growth of returns from financial investments.
|
Date of fact occurence: March 25, 2009 |
|
OJSC "Magnit" net profit in FY2007: 12,075 thousand rubles |
|
OJSC "Magnit" net profit in FY2008: 121,571 thousand rubles |
|
Absolute change of the Issuer's net profit amount: 109,496 thousand rubles |
|
Relative change of the Issuer's net profit amount: 906.8% |
* The figures are counted according to the OJSC "Magnit" report which is made up under RAS, are disclosed according to the Russian legislation and do not characterize the operation of the whole group of "Magnit" companies.
For further information, please contact:
|
Oleg Goncharov |
Director, Investor Relationse-mail: [email protected] tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5100Mob.: +7 (903) 411-40 -35Direct line for investors only: +7 (861) 277-45-62 |
|
Dina Chistyak |
Manager, Investor Relationse-mail: [email protected] tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101Mob.: +7-961-511-02-02Direct 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, 2008 the chain consisted of 2,565 convenience stores and 14 hypermarkets in 856 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, 2008 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,165 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 9M 2008, the Company posted consolidated revenues of approximately US$ 3,881 million and a consolidated EBITDA of around US$ 265 million.
Related Shares:
MGNT.L