18th Aug 2008 07:00
Press-release
Krasnodar
August 18, 2008
OJSC "Magnit" announces unaudited July 2008 trading update
Krasnodar, August 18, 2008: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited 7M 2008 results.
During 7M 2008 the Company opened (net) 150 stores (143 convenience stores and 7 hypermarkets) with its total store base reaching 2,347 stores at the end of this period. Preliminary consolidated unaudited net retail revenue in 7M2008 increased by 39.62% in ruble terms (compared to 7M2007) and stood at 70,007.04 million rubles. Net retail sales in dollars increased by 52.19% YoY and stood at US$ 2,934.37 million.
July 2008 Key Operating and Financial Highlights:
|
|
July 2008 |
July 2007 |
Growth Rate |
7M2008 |
7M2007 |
Growth Rate |
|
Number of opened stores, NET |
26 |
20 |
n/a |
150 |
136 |
n/a |
|
Total number of stores |
2,347 |
2,029 |
n/a |
2,347 |
2,029 |
n/a |
|
Selling space, sq.m. |
728,711 |
578,650 |
25.93%
|
728,711 |
578,650 |
25.93%
|
|
Net retail sales, million RUR |
11,178.19 |
7,824.74 |
42.86% |
70,007.04 |
50,142.59 |
39.62% |
|
Net retail sales, million US$ |
478.71 |
306.17 |
56.35% |
2,934.37 |
1,928.13 |
52.19% |
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
|
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, 2007 the chain consisted of 2,194 convenience stores and 3 hypermarkets in more than 700 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, 2007 the Company operated an in-house logistics system consisting of 8 distribution centers, employing automated stock replenishment systems and a fleet of 802 vehicles.
In accordance with the audited IFRS consolidated financial statements, for 2007, the Company posted consolidated revenues of approximately US$ 3,677 million and a consolidated EBITDA of around US$ 219 million.
Related Shares:
MGNT.L