10th Sep 2010 07:00
Press-release
Krasnodar
September 10, 2010
OJSC "Magnit" announces unaudited August 2010 results
Krasnodar, September 10, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited August 2010 results[1].
During 8M 2010 the Company opened (net) 386 stores. The total store base reached 3,614 stores (3,582 convenience stores and 32 hypermarkets). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 8M 2010 increased by 34.06% in ruble terms (compared to 8M 2009) and stood at 144,548.44 million rubles. Net retail sales in August 2010 increased by 40.59% vs. August 2009 and amounted to 20,795.08 million rubles.
August 2010 Key Operating and Financial Highlights:
|
|
August 2010 |
August 2009 |
Growth Rate |
8M2010 |
8M2009 |
Growth Rate |
|
Number of opened stores, NET |
63 |
67 |
n/a |
386 |
349 |
n/a |
|
convenience stores |
62 |
66 |
n/a |
378 |
343 |
n/a |
|
hypermarkets |
1 |
1 |
n/a |
8 |
6 |
n/a |
|
|
||||||
|
Total number of stores |
3,614 |
2,931 |
n/a |
3,614 |
2,931 |
n/a |
|
convenience stores |
3,582 |
2,911 |
n/a |
3,582 |
2,911 |
n/a |
|
hypermarkets |
32 |
20 |
n/a |
32 |
20 |
n/a |
|
|
||||||
|
Selling space, sq. m. |
1,211,305 |
947,436 |
27.85% |
1,211,305 |
947,436 |
27.85% |
|
convenience stores |
1,101,151 |
878,981 |
25.28% |
1,101,151 |
878,981 |
25.28% |
|
hypermarkets |
110,154 |
68,455 |
60.91% |
110,154 |
68,455 |
60.91% |
|
|
||||||
|
Net retail sales, million RUR |
20,795.08 |
14,790.95 |
40.59% |
144,548.44 |
107,820.48 |
34.06% |
|
convenience stores |
18,441.16 |
13,521.68 |
36.38% |
130,904.46 |
100,131.31 |
30.73% |
|
hypermarkets |
2,353.92 |
1,269.27 |
85.45% |
13,643.99 |
7,689.17 |
77.44% |
|
|
||||||
|
Net retail sales, million US$[2] |
685.31 |
467.63 |
46.55% |
4,789.24 |
3,298.59 |
45.19% |
|
convenience stores |
607.74 |
427.50 |
42.16% |
4,337.18 |
3,063.36 |
41.58% |
|
hypermarkets |
77.57 |
40.13 |
93.31% |
452.06 |
235.24 |
92.17% |
|
LFL growth July 2010 to July 2009 [3] |
Convenience stores |
Hypermarkets |
Total |
|
Average ticket (excluding VAT), RUB |
3.64% |
6.17% |
4.16% |
|
Traffic |
5.24% |
14.06% |
5.40% |
|
Revenue, RUB |
9.07% |
21.10% |
9.79% |
|
|
|||
|
LFL growth August 2010 to August 2009 [4] |
Convenience stores |
Hypermarkets |
Total |
|
Average ticket (excluding VAT), RUB |
3.59% |
6.25% |
4.14% |
|
Traffic |
8.03% |
15.77% |
8.19% |
|
Revenue, RUB |
11.91% |
23.01% |
12.67% |
|
|
|
|
|
|
LFL growth 8M 2010 to 8M 2009 [5] |
Convenience stores |
Hypermarkets |
Total |
|
Average ticket (excluding VAT), RUB |
3.27% |
3.98% |
3.58% |
|
Traffic |
2.25% |
11.15% |
2.35% |
|
Revenue, RUB |
5.59% |
15.58% |
6.01% |
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 June 30, 2010 the chain consisted of 3,464 convenience stores and 28 hypermarkets in 1,109 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 and Urals regions.
As of June 30, 2010 the Company operated an in-house logistics system consisting of 10 distribution centers, employing automated stock replenishment systems and a fleet of 1,723 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
[1] According to management accounts. Adjusted information will be provided on September 10, 2010.
[2] Based on the average exchange rate for August 2010 of 30.3440 RUB per 1 USD, August 2009 - 31.6295 RUB per 1 USD, 8М 2010 - 30.1819 RUB per 1 USD, 8М 2009 - 32.6868 RUB per 1 USD
[3] Based on 2,449 convenience stores which were opened by January 01, 2009, and 11 hypermarkets which were opened by November 01, 2008, i.e. based on the result of the convenience stores that had been operating for not less than six months and hypermarkets that had been operating for not less than eight months and have achieved a mature level of sales
[4] Based on 2,436 convenience stores which were opened by February 01, 2009, and 12 hypermarkets which were opened by December 01, 2008, i.e. based on the result of the convenience stores that had been operating for not less than six months and hypermarkets that had been operating for not less than eight months and have achieved a mature level of sales
[5] Based on 2,088 convenience stores which were opened by July 01, 2008, and 7 hypermarkets which were opened by May 01, 2008, i.e. based on the result of the convenience stores that had been operating for not less than six months and hypermarkets that had been operating for not less than eight months and have achieved a mature level of sales
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