12th Jan 2009 07:03
Press-release
Krasnodar
January 12, 2009
OJSC "Magnit" announces unaudited December 2008 trading update
Krasnodar, January 12, 2009: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited 12M 2008 results (1).
During 12M 2008 the Company opened (net) 382 stores (371 convenience stores and 11 hypermarkets) with its total store base reaching 2,579 stores at the end of this period. Preliminary consolidated unaudited net retail revenue in 12M2008 increased by 41.89% in ruble terms (compared to 12M2007) and stood at 132,379.40 million rubles. Net retail sales in dollars increased by 46.01% YoY and stood at US$ 5,326.00 million.
December 2008 Key Operating and Financial Highlights:
|
|
December 2008 |
December 2007 |
Growth Rate |
12M2008 |
12M2007 |
Growth Rate |
|
Number of opened stores, NET |
102 |
76 |
n/a |
382 |
304 |
n/a |
|
Total number of stores |
2,579 |
2,197 |
n/a |
2,579 |
2,197 |
n/a |
|
Selling space, sq. m. |
823,507 |
651,658 |
26.37% |
823,507 |
651,658 |
26.37% |
|
Number of customers, million |
n/a |
n/a |
n/a |
860.34 |
765.16 |
12.44% |
|
Net retail sales, million RUR |
15,602.58 |
10,851.65 |
43.78% |
132,379.40 |
93,294.70 |
41.89% |
|
Net retail sales, million US$ |
554.54 |
441.73 |
25.54% |
5,326.00 |
3,647.60 |
46.01% |
|
LFL growth |
4Q 2008 to 4Q 2007 (2) |
12M 2008 to 12M 2007 (3) |
|
Average ticket (excl. VAT), RUR |
19.09% |
21.66% |
|
Average ticket (excl. VAT), USD |
- (4) |
25.19% |
|
Number of tickets |
0.17% |
(2.32)% |
|
Revenue, RUR |
19.30% |
18.84% |
|
Revenue, USD |
- (4) |
22.29% |
(1) Management accounts
(2) Applicable to 1,455 stores opened by March 31, 2007. Thus, LFL analysis is based on the stores that have been operating not less than six months, i.e. achieved the mature level of sales.
(3) Applicable to 1,375 stores opened by July 01, 2006. Thus, LFL analysis is based on the stores that have been operating not less than six months, i.e. achieved the mature level of sales.
(4) Due to the growth of the US dollar rate to ruble from 01.10.2008 to 31.12.2008 by more than 14%, LFL analysis in dollar terms is incorrect
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 Chistyak |
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 a holding company for a group of entities that operate in the retail trade under the "Magnit" name. The chain of "Magnit" stores is one of the leading operators in the Russian food retail market. As of December 31, 2008 the chain consisted of 2,565 convenience stores and 14 hypermarkets in 856 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500 thousand. Most of its stores are located within the Southern, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions.
As of December 31, 2008 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,165 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 9M 2008, the Company posted consolidated revenues of approximately US$ 3,881 million and a consolidated EBITDA of around US$ 265 million.
Related Shares:
MGNT.L