28th Jul 2015 08:50
PJSC MAGNIT - Guidance UpdatePJSC MAGNIT - Guidance Update
PR Newswire
London, July 28
Press Release
Krasnodar
July 28, 2015
PJSC “Magnit” Updates Guidance for 2015
Krasnodar, July 28, 2015: PJSC “Magnit”, Russia's largest food retailer (the “Company”; MOEX and LSE: MGNT), updates guidance for 2015.
Based on the analysis of sales of the first six months this year the management of the Company updates guidance for 2015:
| 2015 (original) | 2015 (new) | |
| Sales growth in RUR: | 28- 32% | 26 - 28% |
| EBITDA margin: | 9,5 - 11% | 10,5 – 11,3% |
| Number of store openings, net | ||
| - convenience stores | 1 200 | 1 350 |
| - hypermarkets and “Magnit Family” | 90 | 90 |
| - drogerie stores | 800 | 950 |
For further information, please contact:
| Timothy Post | Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 |
| Dina Svishcheva | Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-45-54 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 |
Company description:
Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2015, Magnit operated 29 distribution centers and over 10,700 stores (8,890 convenience, 311 hypermarkets, and 1,527 drogerie stores) in approximately 2,233 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 1H 2015, Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 billion. Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.
Related Shares:
MGNT.L