10th Feb 2011 07:00
Press-release
Krasnodar
February 10, 2011
OJSC "Magnit" announces unaudited January 2011 results
Krasnodar, February 10, 2011: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited January 2011 results[1].
During January 2011 the Company opened (net) 30 stores. The total store base reached 4,085 stores. Preliminary consolidated unaudited net retail revenue (excl. VAT) in January 2011 increased by 51.23% in ruble terms (compared to January 2010) and stood at 23,509.66 million rubles.
January 2011 Key Operating and Financial Highlights:
January 2011 | January 2010 | Growth Rate | |
Number of opened stores, NET | 30 | 19 | n/a |
convenience stores | 30 | 19 | n/a |
hypermarkets | 0 | 0 | n/a |
Total number of stores | 4,085 | 3,247 | n/a |
convenience stores* | 4,034 | 3,223 | n/a |
hypermarkets | 51 | 24 | n/a |
Selling space, sq. m. | 1,438,619 | 1,067,329 | 34.79% |
convenience stores* | 1,273,538 | 985,926 | 29.17% |
hypermarkets | 165,081 | 81,403 | 102.79% |
Net retail sales, million RUR | 23,509.66 | 15,545.94 | 51.23% |
convenience stores* | 20,923.91 | 14,282.41 | 46.50% |
hypermarkets | 2,585.75 | 1,263.53 | 104.64% |
Net retail sales, million US$[2] | 781.43 | 519.14 | 50.52% |
convenience stores* | 695.48 | 476.95 | 45.82% |
hypermarkets | 85.95 | 42.19 | 103.69% |
* including cosmetics stores (drogerie)
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, 2010 the chain consisted of 4,002 convenience stores, 51 hypermarkets and 2 cosmetics stores (drogerie) in 1,216 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 December 31, 2010 the Company operated an in-house logistics system consisting of 11 distribution centers, employing automated stock replenishment systems and a fleet of 2,642 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 1H 2010, the Company recorded consolidated revenue of approximately US$3,448 million and consolidated EBITDA of around US$252 million
[1] According to management accounts
[2] Based on the average exchange rate for January 2011 of 30.0855 RUB per 1 USD, January 2010 - 29,9456 RUB per 1 USD
Related Shares:
MGNT.L