17th Sep 2012 07:02
Press Release
Krasnodar
September 17, 2012
OJSC "Magnit" Updates Guidance for 2012
Krasnodar, September 17, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) updates guidance for 2012.
Based on the analysis of sales of July, August and first half of September this year the management of the Company updates guidance for 2012 and issues preliminary guidance for 2013 as follows:
2012 | 2013 (preliminary) | |
Sales growth in RUR: | 30-32% | 25-27% |
EBITDA margin: | 9.0-9.5% | |
Net debt/EBITDA: | 1.4-1.5 | 1.4-1.6 |
CAPEX, US$ bn | 1.6-1.7 | 1.6-1.8 |
Number of store openings, net | ||
- convenience stores | 1,000 | 800-1,000 |
- hypermarkets and "Magnit Family" | 50-55 | 55-60 |
- cosmetics stores | 500 | 500 |
Guidance for 2013 is subject to change in the end of October - November 2012 after the publication of 9M 2012 financial results.
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" (LSE and MICEX: MGNT, S&P: "BB-") 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 June 30, 2012 the chain consisted of 5,268 convenience stores, 98 hypermarkets, 5 "Magnit Family" stores and 351 cosmetics stores (drogerie) in 1,461 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 June 30, 2012 the Company operated an in-house logistics system consisting of 16 distribution centers, employing automated stock replenishment systems and a fleet of 4,070 vehicles.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2012, the Company recorded consolidated revenue of approximately US$ 6,776 million and consolidated EBITDA of around US$ 671 million.
Related Shares:
MGNT.L