9th Sep 2011 07:00
Press-release
Krasnodar
September 9, 2011
OJSC "Magnit" announces unaudited August 2011 results
Krasnodar, September 9, 2011: OJSC "Magnit" (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited August 2011 results[1].
During 8M 2011 the Company opened (net) 604 stores. The total store base reached 4,659 stores (4,516 convenience stores, 74 hypermarkets and 69 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 8M 2011 increased by 47.75% in ruble terms (compared to 8M 2010) and stood at 213,566.47 million rubles. Net retail sales in August 2011 increased by 35.81% vs. August 2010 and amounted to 28,242.04million rubles.
August 2011 Key Operating and Financial Highlights:
August 2011 | August 2010 | Growth Rate | 8M 2011 | 8M 2010 | Growth Rate | |
Number of opened stores, NET | 112 | 63 | n/a | 604 | 386 | n/a |
convenience stores | 81 | 62 | n/a | 514 | 378 | n/a |
hypermarkets | 5 | 1 | n/a | 23 | 8 | n/a |
cosmetics stores | 26 | - | n/a | 67 | - | n/a |
Total number of stores | 4,659 | 3,614 | n/a | 4,659 | 3,614 | n/a |
convenience stores | 4,516 | 3,582 | n/a | 4,516 | 3,582 | n/a |
hypermarkets | 74 | 32 | n/a | 74 | 32 | n/a |
cosmetics stores | 69 | - | n/a | 69 | - | n/a |
Selling space, thousand sq. m. | 1,698.36 | 1,211.31 | 40.21% | 1,698.36 | 1,211.31 | 40.21% |
convenience stores | 1,457.16 | 1,101.15 | 32.33% | 1,457.16 | 1,101.15 | 32.33% |
hypermarkets | 226.40 | 110.15 | 105.53% | 226.40 | 110.15 | 105.53% |
cosmetics stores | 14.81 | - | n/a | 14.81 | - | n/a |
Net retail sales, million RUR | 28,242.04 | 20,795.08 | 35.81% | 213,566.47 | 144,548.44 | 47.75% |
convenience stores | 23,965.34 | 18,441.16 | 29.96% | 185,542.88 | 130,904.46 | 41.74% |
hypermarkets | 4,202.84 | 2,353.92 | 78.55% | 27,850.51 | 13,643.99 | 104.12% |
cosmetics stores | 73.85 | - | n/a | 173.07 | - | n/a |
Net retail sales, million US$[2] | 981.56 | 685.31 | 43.23% | 7,480.20 | 4,789.24 | 56.19% |
convenience stores | 832.92 | 607.74 | 37.05% | 6,498.67 | 4,337.18 | 49.84% |
hypermarkets | 146.07 | 77.57 | 88.30% | 975.47 | 452.06 | 115.78% |
cosmetics stores | 2.57 | - | n/a | 6.06 | - | 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" 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, 2011 the chain consisted of 4,366 convenience stores, 66 hypermarkets and 28 cosmetics stores (drogerie) in 1,286 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 June 30, 2011 the Company operated an in-house logistics system consisting of 12 distribution centers, employing automated stock replenishment systems and a fleet of 3,454 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 1H 2011, the Company recorded consolidated revenue of approximately US$5,471 million and consolidated EBITDA of around US$359 million.
[1] According to management accounts
[2] Based on the average exchange rate for August 2011 of 28.7727 RUB per 1 USD, August 2010 - 30.3440 RUB per 1 USD, 8М 2011 - 28.5509 RUB per 1 USD, 8M 2010 - 30.1819 RUB per 1 USD
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