14th Jul 2009 07:00
Press-release
Krasnodar
July 14, 2009
OJSC "Magnit" announces unaudited June 2009 trading update
Krasnodar, July 14, 2009: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited 6M 2009 results1.
During 6M 2009 the Company opened (net) 226 stores, as a result of which its total store base reached 2,808 stores (2,790 convenience stores and 18 hypermarkets) at the end of this period. Consolidated unaudited net retail revenue (excluding VAT) in 6M 2009 increased by 33.37% in ruble terms (compared to 6M 2008) and stood at 78,461.10 million rubles.
June 2009 Key Operating and Financial Highlights:
|
June 2009 |
June 2008 |
Growth Rate |
6M 2009 |
6M 2008 |
Growth Rate |
|
|
Number of opened stores, net |
45 |
34 |
n/a |
226 |
124 |
n/a |
|
Total number of stores |
2,808 |
2,321 |
n/a |
2,808 |
2,321 |
n/a |
|
Selling space, sq. m. |
905,215 |
714,604 |
26.67% |
905,215 |
714,604 |
26.67% |
|
Number of customers, million |
n/a |
n/a |
n/a |
475.10 |
409.67 |
15.97% |
|
Net retail sales, million RUB |
13,406.35 |
10,460.43 |
28.16% |
78,461.10 |
58,828.85 |
33.37% |
|
Net retail sales, million USD2 |
432.09 |
442.53 |
(2.36)% |
2,372.73 |
2,456.93 |
(3.43)% |
|
LFL growth 6M 2009 to 6M 20083 |
||||||
|
Average ticket (excluding VAT), RUB |
11.08% |
|||||
|
Number of tickets |
(0.83)% |
|||||
|
Revenue, RUB |
10.16% |
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 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, 2009 the chain consisted of 2,790 convenience stores and 18 hypermarkets in 922 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with population of less than 500,000 inhabitants. Most of its stores are located in the Southern, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
As of June 30, 2009 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,345 vehicles.
In accordance with the audited IFRS consolidated financial statements for 2008, the Company posted consolidated revenue of approximately US$5,348 million and consolidated EBITDA of around US$402 million.
1 Management accounts
2 Based on the average exchange rate for June 2009 of 31.0270 RUB per 1 USD, June 2008 - 23.6378 RUB per 1 USD, 6М 2009 - 33.0679 RUB per 1 USD, 6М 2008 - 23.9440 RUB per 1 USD
3 Based on 1,815 stores which were opened by July 01, 2007, i.e. based on the result of the stores that had been operating for not less than six months and have achieved a mature level of sales
Related Shares:
MGNT.L