29th Apr 2010 07:00
Press-release
Krasnodar
April 29, 2010
OJSC "Magnit" announces change of net profit amount (RAS, standalone basis) 1
OJSC "Magnit" net profit for the 4th quarter of 2009 amounted to 709,624 thousand rubles vs. 56,287 thousand rubles for the 1st quarter of 2010. The significant decrease of net profit by 92.07% was due to the dividend payment in the 4th quarter of 2009 made by its subsidiary - CJSC "Tander" - according to the results of 9M 2009. OJSC "Magnit" subsidiaries did not announce and did not pay dividends in 1Q 2010.
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Date of fact occurence: April 28, 2010 |
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OJSC "Magnit" net profit in 4Q 2009: 709,624 thousand rubles |
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OJSC "Magnit" net profit in 1Q 2010: 56,287 thousand rubles |
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Absolute change of the Issuer's net profit amount: -653,337 thousand rubles |
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Relative change of the Issuer's net profit amount:-92.07% |
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 |
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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.
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, North-Caucasian, 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.
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