30th Mar 2010 07:00
Press-release
Krasnodar
March 30, 2010
OJSC "Magnit" announces change of assets value and net profit amount (RAS, standalone basis)1
OJSC "Magnit" assets in 2009 increased by 10,808,040 thousand rubles as compared to 2008. The assets growth was mainly conditioned by the increase of long- and short-term investments due to proceeds received from the offering of shares of additional issue in 2009.
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Date of fact occurence: March 29, 2010 |
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OJSC "Magnit" assets value as of 31.12.2008: 17,423,307 thousand rubles |
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OJSC "Magnit" assets value as of 31.12.2009: 28,231,347 thousand rubles |
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Absolute change of the issuer's assets value: 10,808,040 thousand rubles |
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Relative change of the issuer's assets value: 62.03% |
OJSC "Magnit" net profit in 2009 amounted to 1, 415,549 thousand rubles vs. 121,571 thousand rubles in 2008. The significant growth of net profit by 1,064.38% was due to the dividend payment made by its subsidiary - CJSC "Tander" - and accrued according to the results of the year 2008 and 9M 2009.
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Date of fact occurence: March 29, 2010 |
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OJSC "Magnit" net profit in 2008: 121,571 thousand rubles |
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OJSC "Magnit" net profit in 2009: 1, 415,549 thousand rubles |
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Absolute change of the Issuer's net profit amount: 1,293,978 thousand rubles |
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Relative change of the Issuer's net profit amount: 1,064.38% |
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.
For further information, please contact:
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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 |
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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 December 31, 2009 the chain consisted of 3,204 convenience stores and 24 hypermarkets in 1,048 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, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
As of December 31, 2009 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,453 vehicles.
In accordance with the audited IFRS consolidated financial statements for the twelve months ended December 31, 2009, the Company recorded consolidated revenue of approximately US$5,354 million and consolidated EBITDA of around US$509 million.
Related Shares:
MGNT.L