11th Mar 2009 07:00
Press-release
Krasnodar
March 11, 2009
OJSC "Magnit" announces unaudited February 2009 trading update
Krasnodar, March 11, 2009: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited 2M 2009 results.1
During 2M 2009 the Company opened (net) 28 stores ("convenience" format) with its total store base reaching 2,620 stores (2,606 convenience stores and 14 hypermarkets) at the end of this period. Preliminary consolidated unaudited net retail revenue (excl. VAT) in 2M2009 increased by 37.71% in ruble terms (compared to 2M2008) and stood at 24,661.52 million rubles. Please note that February 2008 consisted of 29 days while February 2009 - of 28 days which means that for the purpose of correct comparison 3.6% must be added to February 2009 results.
February 2009 Key Operating and Financial Highlights:
|
February 2009 |
February 2008 |
Growth Rate |
2M2009 |
2M2008 |
Growth Rate |
|
|
Number of opened stores, NET |
28 |
15 |
n/a |
38 |
20 |
n/a |
|
Total number of stores |
2,620 |
2,217 |
n/a |
2,620 |
2,217 |
n/a |
|
Selling space, sq. m. |
836,367 |
668,553 |
25.10% |
836,367 |
668,553 |
25.10% |
|
Net retail sales, million RUR |
12,266.48 |
9,176.16 |
33.68% |
24,661.52 |
17,907.76 |
37.71% |
|
Net retail sales, million US$ |
342.98 |
374.00 |
(8.29)% |
735.37 |
730.40 |
0.68% |
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 |
1Management accounts 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 and Urals 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