11th Mar 2010 07:00
Press-release
Krasnodar
March 11, 2010
OJSC "Magnit" announces unaudited February 2010 results
Krasnodar, March 11, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited February 2010 results1.
During 2M 2010 the Company opened (net) 24 stores. The total store base reached 3,271 stores (3,247 convenience stores and 24 hypermarkets). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 2M 2010 increased by 26.65% in ruble terms (compared to 2M 2009) and stood at 31,233.01 million rubles.
February 2010 Key Operating and Financial Highlights:
|
|
February 2010 |
February 2009 |
Growth Rate |
2M2010 |
2M2009 |
Growth Rate |
|
Number of opened stores, NET |
24 |
28 |
n/a |
43 |
38 |
n/a |
|
Total number of stores |
3,271 |
2,620 |
n/a |
3,271 |
2620 |
n/a |
|
Selling space, sq. m. |
1,073,768 |
836,367 |
28.38% |
1,073,768 |
836,367 |
28.38% |
|
Net retail sales, million RUR |
15,687.06 |
12,266.57 |
27.88% |
31,233.01 |
24,661.52 |
26.65% |
|
Net retail sales, million US$2 |
519.63 |
342.98 |
51.50% |
1,038.98 |
735.37 |
41.29% |
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 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, 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 unaudited IFRS consolidated financial statements for the six months ended June 30, 2009, the Company recorded consolidated revenue of approximately US$2,378 million and consolidated EBITDA of around US$224 million.
Related Shares:
MGNT.L