29th Oct 2010 07:00
Press-release
Krasnodar
October 29, 2010
OJSC "Magnit" announces change of the assets value and net profit amount (RAS, standalone basis)[1]
OJSC "Magnit" assets in the 3rd quarter of 2010 increased by 4,866,551 thousand rubles as compared to the 2nd quarter of 2010. The growth of assets was conditioned by the proceeds received from the OJSC "Magnit" bonds placement in 3Q 2010.
Date of fact occurence: October 28, 2010 |
OJSC "Magnit" assets value as of 30.06.2010: 28,280,597 thousand rubles |
OJSC "Magnit" assets value as of 30.09.2010: 33,147,148 thousand rubles |
Absolute change of the Issuer's assets value: 4,866,551 thousand rubles |
Relative change of the Issuer's assets value: 17.21% |
OJSC "Magnit" net profit for the 2nd quarter of 2010 amounted to 197,108 thousand rubles vs. 175,651 thousand rubles as of the 3rd quarter of 2010. The decrease of the net profit by 10.89% is due to the expenses incurred in the 3Q on the auditing services and capital repairs of the real estate objects.
Date of fact occurence: October 28, 2010 |
OJSC "Magnit" net profit in 2Q 2010: 197,108 thousand rubles |
OJSC "Magnit" net profit in 3Q 2010: 175,651 thousand rubles |
Absolute change of the Issuer's net profit amount: -21,457 thousand rubles |
Relative change of the Issuer's net profit amount: -10.89% |
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 September 30, 2010 the chain consisted of 3,658 convenience stores and 35 hypermarkets in 1,156 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 September 30, 2010 the Company operated an in-house logistics system consisting of 10 distribution centers, employing automated stock replenishment systems and a fleet of 2,262 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] The figures are counted according to the OJSC "Magnit" report prepared under RAS, are disclosed according to the Russian legislation and do not characterize the operation of the whole group of "Magnit" companies.
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