20th Apr 2011 13:04
Press-release
Krasnodar
April 20, 2011
OJSC "Magnit" announces change of assets value and net income amount (RAS, standalone basis)[1]
OJSC "Magnit" assets in 1Q 2011 increased by 5,354,877 thousand rubles compared to 4Q 2010. Significant change of assets was due to proceeds received from the placement of OJSC "Magnit" bonds.
Date of fact occurrence: | April 20, 2011 |
Value of OJSC "Magnit" assets as of 31.12.2010 | 33,455,567 thousand rubles |
Value of OJSC "Magnit" assets as of 31.03.2011 | 38,810,444 thousand rubles |
Absolute change in value of assets | 5,354,877 thousand rubles |
Relative change in value of assets | 16.01% |
Net income of OJSC "Magnit" in 4Q 2010 amounted to 169,179 thousand rubles vs. 427,754 thousand rubles in 1Q 2011. Significant change of income was due to dividend payment made by its subsidiary CJSC "Tander" in 1Q 2011 according to the results of 2010.
Date of fact occurrence: | April 20, 2011 |
Net income of OJSC "Magnit" in 4Q 2010 | 169,179 thousand rubles |
Net income of OJSC "Magnit" in 1Q 2011 | 427,754 thousand rubles |
Absolute change in net income | 258,575 thousand rubles |
Relative change in net income | 152.84% |
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 March 31, 2011 the chain consisted of 4,128 convenience stores, 57 hypermarkets and 4 cosmetics stores (drogerie) in 1,239 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 March 31, 2011 the Company operated an in-house logistics system consisting of 11 distribution centers, employing automated stock replenishment systems and a fleet of 2,997 vehicles.
In accordance with the audited IFRS consolidated financial statements for the twelve months ended December 31, 2010, the Company recorded consolidated revenue of approximately US$7,777 million and consolidated EBITDA of around US$632 million.
[1] Based on statements of OJSC "Magnit" which have been prepared under RAS. Figures in this press-release are disclosed according to the Russian legislation and do not characterize the operation of "Magnit" group of companies.
Related Shares:
MGNT.L