10th Jul 2012 07:03
Press-release
Krasnodar
July 10, 2012
OJSC "Magnit" announces 33.79% retail sales growth in rubles in June 2012
Krasnodar, July 10, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) announces 33.79% retail sales growth in rubles in June 2012[1].
During 6M 2012 the Company opened (net) 413 stores. The total store base reached 5,722 stores (5,268 convenience stores, 98hypermarkets, 5 "Magnit Family" stores and 351 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 6M 2012 increased by 32.54% in ruble terms (compared to 6M 2011) and stood at 207,467.47 million rubles.
June 2012 Key Operating and Financial Highlights:
June 2012 | June 2011 | Growth Rate | 6M 2012 | 6M 2011 | Growth Rate | |
Number of opened stores, NET | 109 | 97 | n/a | 413 | 405 | n/a |
convenience stores | 72 | 84 | n/a | 262 | 364 | n/a |
hypermarkets | 2 | - | n/a | 8 | 13 | n/a |
magnit family | - | 2 | n/a | 2 | 2 | n/a |
cosmetics stores | 35 | 11 | n/a | 141 | 26 | n/a |
Total number of stores | 5,722 | 4,460 | n/a | 5,722 | 4,460 | n/a |
convenience stores | 5,268 | 4,366 | n/a | 5,268 | 4,366 | n/a |
hypermarkets | 98 | 63 | n/a | 98 | 63 | n/a |
magnit family | 5 | 3 | n/a | 5 | 3 | n/a |
cosmetics stores | 351 | 28 | n/a | 351 | 28 | n/a |
Selling space, thousand sq. m. | 2,119.53 | 1,612.85 | 31.42% | 2,119.53 | 1,612.85 | 31.42% |
convenience stores | 1,729.52 | 1,406.70 | 22.95% | 1,729.52 | 1,406.70 | 22.95% |
hypermarkets | 303.12 | 196.79 | 54.03% | 303.12 | 196.79 | 54.03% |
magnit family | 6.20 | 3.80 | n/a | 6.20 | 3.80 | n/a |
cosmetics stores | 80.70 | 5.56 | n/a | 80.70 | 5.56 | n/a |
Number of customers, million | 168.80 | 136.48 | 23.68% | 965.08 | 778.54 | 23.96% |
convenience stores | 155.21 | 128.92 | 20.40% | 891.92 | 740.12 | 20.51% |
hypermarkets | 11.42 | 7.18 | 59.16% | 62.25 | 37.59 | 65.63% |
magnit family | 0.54 | 0.27 | n/a | 2.41 | 0.53 | n/a |
cosmetics stores | 1.63 | 0.12 | n/a | 8.50 | 0.30 | n/a |
June 2012 | June 2011 | Growth Rate | 6M 2012 | 6M 2011 | Growth Rate | |
Net retail sales, million RUR | 36,445.07 | 27,240.36 | 33.79% | 207,467.47 | 156,533.06 | 32.54% |
convenience stores | 29,689.60 | 23,509.18 | 26.29% | 171,468.09 | 136,977.62 | 25.18% |
hypermarkets | 6,183.93 | 3,618.89 | 70.88% | 33,201.16 | 19,285.97 | 72.15% |
magnit family | 179.54 | 88.51 | n/a | 797.63 | 212.64 | n/a |
cosmetics stores | 392.00 | 23.77 | n/a | 2,000.59 | 56.83 | n/a |
Net retail sales, million US$[2] | 1,107.18 | 973.41 | 13.74% | 6,771.35 | 5,468.56 | 23.82% |
convenience stores | 901.96 | 840.08 | 7.37% | 5,596.40 | 4,785.38 | 16.95% |
hypermarkets | 187.86 | 129.32 | 45.27% | 1,083.62 | 673.76 | 60.83% |
magnit family | 5.45 | 3.16 | n/a | 26.03 | 7.43 | n/a |
cosmetics stores | 11.91 | 0.85 | n/a | 65.30 | 1.99 | n/a |
LFL results
LFL growth 6M 2012 - 6M 2011[3] | Convenience stores | Hypermarkets | Total |
Average ticket (excluding VAT), RUR | 4.37% | 3.06% | 4.48% |
Traffic | (1.06)% | 2.55% | (0.94)% |
Revenue, RUR | 3.26% | 5.69% | 3.50 |
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" (LSE and MICEX: MGNT, S&P: "BB-") 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, 2012 the chain consisted of 5,268 convenience stores, 98 hypermarkets, 5 "Magnit Family" stores and 351 cosmetics stores (drogerie) in 1,461 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 June 30, 2012 the Company operated an in-house logistics system consisting of 16 distribution centers, employing automated stock replenishment systems and a fleet of 4,070 vehicles.
In accordance with the audited IFRS consolidated financial statements for 2011, the Company recorded consolidated revenue of approximately US$ 11,423 million and consolidated EBITDA of around US$ 939 million.
[1] According to management accounts
[2] Based on the average exchange rate for June 2012 of 32.9169 RUB per 1 USD, June 2011 - 27.9846 RUB per 1 USD, 6М 2012 - 30.6390 RUB per 1 USD, 6M 2011 - 28.6242 RUB per 1 USD
[3] Based on 2,839 convenience stores which were opened by July 1, 2010, and 25 hypermarkets which were opened by May 1, 2010, 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
Related Shares:
MGNT.L