12th Jul 2010 07:00
Press-release
Krasnodar
July 12, 2010
OJSC "Magnit" announces unaudited June 2010 results
Krasnodar, July 12, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited June 2010 results[1].
During 6M 2010 the Company opened (net) 264 stores. The total store base reached 3,492 stores (3,464 convenience stores and 28 hypermarkets). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 6M 2010 increased by 32% in ruble terms (compared to 6M 2009) and stood at 103,637.65 million rubles. Net retail sales in June 2010 increased by 39% vs. June 2009 and amounted to 18,611.76 million rubles.
June 2010 Key Operating and Financial Highlights:
|
|
June 2010 |
June 2009 |
Growth Rate |
6M2010 |
6M2009 |
Growth Rate |
|
Number of opened stores, NET |
68 |
45 |
n/a |
264 |
226 |
n/a |
|
convenience stores |
66 |
42 |
n/a |
260 |
222 |
n/a |
|
hypermarkets |
2 |
3 |
n/a |
4 |
4 |
n/a |
|
|
||||||
|
Total number of stores |
3,492 |
2,808 |
n/a |
3,492 |
2,808 |
n/a |
|
convenience stores |
3,464 |
2,790 |
n/a |
3,464 |
2,790 |
n/a |
|
hypermarkets |
28 |
18 |
n/a |
28 |
18 |
n/a |
|
|
||||||
|
Selling space, sq. m. |
1,156,118 |
905,215 |
27.72% |
1,156,118 |
905,215 |
27.72% |
|
convenience stores |
1,065,025 |
840,500 |
26.71% |
1,065,025 |
840,500 |
26.71% |
|
hypermarkets |
91,093 |
64,715 |
40.76% |
91,093 |
64,715 |
40,76% |
|
|
||||||
|
Net retail sales, million RUR |
18,611.76 |
13,406.35 |
38.83% |
103,637.65 |
78,461.10 |
32.09% |
|
convenience stores |
16,850.37 |
12,440.14 |
35.45% |
94,499.78 |
73,212.09 |
29.08% |
|
hypermarkets |
1,761.39 |
966.21 |
82.30% |
9,137.88 |
5,249.01 |
74.09% |
|
|
||||||
|
Net retail sales, million US$[2] |
597.13 |
432.09 |
38.20% |
3,446.82 |
2,372.73 |
45.27% |
|
convenience stores |
540.62 |
400.95 |
34.84% |
3,142.91 |
2,213.99 |
41.99% |
|
hypermarkets |
56.51 |
31.14 |
81.47% |
303.91 |
158.73 |
91.46% |
|
LFL growth 6М 2010 to 6М 2009 [3] |
Convenience stores |
Hypermarkets |
Total |
|
Average ticket (excluding VAT), RUB |
3.31% |
2.99% |
3.58% |
|
Traffic |
1.20% |
10.84% |
1.30% |
|
Revenue, RUB |
4.55% |
14.16% |
4.93% |
|
|
|||
|
LFL growth 2Q 2010 to 2Q 2009 [4] |
Convenience stores |
Hypermarkets |
Total |
|
Average ticket (excluding VAT), RUB |
3.64% |
3.06% |
3.92% |
|
Traffic |
3.43% |
11.61% |
3.56% |
|
Revenue, RUB |
7.20% |
15.02% |
7.63% |
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 1,713 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 June 2010 of 31.1687 RUB per 1 USD, June 2009 - 31.0270 RUB per 1 USD, 6М 2010 - 30.0676 RUB per 1 USD, 6М 2009 - 33.0679 RUB per 1 USD
[3] Based on 2,149 convenience stores which were opened by July 01, 2008, and 7 hypermarkets which were opened by May 01, 2008, i.e. based on the result of the convenience stores that had been operating for not less than six months and hypermarkets that had been operating for not less than eight months and have achieved a mature level of sales
[4] Based on 2,266 convenience stores which were opened by October 01, 2008, and 10 hypermarkets which were opened by August 01, 2008, i.e. based on the result of the convenience stores that had been operating for not less than six months and hypermarkets that had been operating for not less than eight months and have achieved a mature level of sales
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