27th Oct 2011 07:00
Press-release
Krasnodar
October 27, 2011
OJSC "Magnit" announces the change of net profit amount (RAS, standalone basis)
Krasnodar, October 27, 2011: OJSC "Magnit" (the "Company"; RTS, MICEX and LSE: MGNT) announces the change of net profit amount (RAS, standalone basis)[1]
Loss of OJSC "Magnit" in the 2nd quarter of 2011 amounted to 613,104 thousand rubles. Net profit in the 3rd quarter of 2011 amounted to 197,803 thousand rubles. Significant change of the financial result is explained by the fact that there was no loss occurred in the 3rd quarter 2011 vs. 2nd quarter 2011 from the transaction of sale of property rights.
Date of fact occurrence: | October 26, 2011 |
Loss of OJSC "Magnit" in 2Q 2011 | 613,104 thousand rubles |
Net profit of OJSC "Magnit" in 3Q 2011 | 197,803 thousand rubles |
Absolute change in net profit | 810,907 thousand rubles |
Relative change in net profit | -132.26% |
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, 2011 the chain consisted of 4,593 convenience stores, 76 hypermarkets and 98 cosmetics stores (drogerie) in 1,325 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, 2011 the Company operated an in-house logistics system consisting of 14 distribution centers, employing automated stock replenishment systems and a fleet of 3,705 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] Based on statements of OJSC "Magnit" which have been prepared under Russian Accounting Standards. 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