18th Jun 2008 10:15
Press-release
Krasnodar
June 18, 2008
OJSC "Magnit" announces acquisition of a 1000th vehicle
Krasnodar, June 18, 2008: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the increase of its fleet to 1,008 vehicles.
Dear Ladies and Gentlemen!
We are pleased to inform you that during January - May 2008 the Company has increased its fleet by 206 vehicles to 1,008 (696 out of which are MAN trucks). Automobile operating companies of OJSC "Magnit" are located in Bataysk, Kropotkin, Engels, Ivanovo, Oryol, Tver, Togliatti and Chelyabinsk. Vehicles of the Company make over 500 runs on a daily basis. Today more than 2.5 thousand employees are engaged in transportation.
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