11th Aug 2010 07:00
Press-release
Krasnodar
August 11, 2010
OJSC "Magnit" announces unaudited July 2010 results
Krasnodar, August 11, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited July 2010 results[1].
During 7M 2010 the Company opened (net) 323 stores. The total store base reached 3,551 stores (3,520 convenience stores and 31 hypermarkets). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 7M 2010 increased by 33.03% in ruble terms (compared to 7M 2009) and stood at 123,753.36 million rubles. Net retail sales in July 2010 increased by 38.08% vs. July 2009 and amounted to 20,115.71 million rubles.
July 2010 Key Operating and Financial Highlights:
|
|
July 2010 |
July 2009 |
Growth Rate |
7M2010 |
7M2009 |
Growth Rate |
|
Number of opened stores, NET |
59 |
56 |
n/a |
323 |
282 |
n/a |
|
convenience stores |
56 |
55 |
n/a |
316 |
277 |
n/a |
|
hypermarkets |
3 |
1 |
n/a |
7 |
5 |
n/a |
|
|
||||||
|
Total number of stores |
3,551 |
2,864 |
n/a |
3,551 |
2,864 |
n/a |
|
convenience stores |
3,520 |
2,845 |
n/a |
3,520 |
2,845 |
n/a |
|
hypermarkets |
31 |
19 |
n/a |
31 |
19 |
n/a |
|
|
||||||
|
Selling space, sq. m. |
1,186,432 |
924,446 |
28.34% |
1,186,432 |
924,446 |
28.34% |
|
convenience stores |
1,082,778 |
857,861 |
26.22% |
1,082,778 |
857,861 |
26.22% |
|
hypermarkets |
103,654 |
66,585 |
55.67% |
103,654 |
66,585 |
55.67% |
|
|
||||||
|
Net retail sales, million RUR |
20,115.71 |
14,568.43 |
38.08% |
123,753.36 |
93,029.53 |
33.03% |
|
convenience stores |
17,963.52 |
13,397.54 |
34.08% |
112,463.30 |
86,609.62 |
29.85% |
|
hypermarkets |
2,152.19 |
1,170.89 |
83.81% |
11,290.07 |
6,419.90 |
75.86% |
|
|
||||||
|
Net retail sales, million US$[2] |
655.52 |
462.21 |
41.82% |
4,103.47 |
2,832.69 |
44.86% |
|
convenience stores |
585.38 |
425.06 |
37.72% |
3,729.11 |
2,637.21 |
41.40% |
|
hypermarkets |
70.13 |
37.15 |
88.79% |
374.36 |
195.48 |
91.51% |
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 June 30, 2010 the chain consisted of 3,464 convenience stores and 28 hypermarkets in 1,109 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 and Urals regions.
As of June 30, 2010 the Company operated an in-house logistics system consisting of 10 distribution centers, employing automated stock replenishment systems and a fleet of 1,723 vehicles.
In accordance with the audited IFRS consolidated financial statements for the twelve months ended December 31, 2009, the Company recorded consolidated revenue of approximately US$5,354 million and consolidated EBITDA of around US$509 million.
[1] According to management accounts
[2] Based on the average exchange rate for July 2010 of 30.6868 RUB per 1 USD, July 2009 - 31.5192 RUB per 1 USD, 7М 2010 - 30.1582 RUB per 1 USD, 7М 2009 - 32.8414 RUB per 1 USD
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