16th Dec 2011 09:17
Press-release
Krasnodar
December 16, 2011
Magnit CEO Sergey Galitskiy named best corporate manager
Magnit CEO Sergey Galitskiy has been announced the winner of the "Russian corporate governance leaders - 2011" Award in the nomination of the "Best corporate manager" for the second time[1] at the annual conference of the Investor Protection Association (IPA) following the results of the outgoing year in the area of corporate governance and improvement of the investment climate in Russia. OJSC "Magnit" also won the "Company with best corporate governance" Award.
The Investor Protection Association (IPA) was established in April 2000 to unite efforts of investors aimed at preventing violations of shareholders rights in Russian companies and improvement of corporate governance. Today IPA is the organization with significant impact on development of the legislative base of the Russian securities market playing an important role in shaping opinion of the investment community.
IPA members are Deutsche Bank AG, Dart Management, East Capital Asset Management, Equinox, Hermitage Capital Management, NCH Advisors, Prosperity Capital Management, Renaissance Brokers, SUN Capital Partners, Templeton Asset Management, Vostok Nafta Investment Ltd., Alfa Bank, Aton, VFP, MC UralSib, Industrial Investors, KIT Finance, , Leader , United Heavy Machinery (Uralmash-Izhora Group), Philip Morris marketing and Sales, Kazimir Partners, PPF BETA Ltd., IC RUSS-INVEST, EOS Russia, Fleming Family & Partners.
During the year the IPA members conduct the regular monitoring of the level of corporate governance in Russia. At the end of the year based on the received information they select winners of the "Russian corporate governance leaders" award.
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 September 30, 2011 the chain consisted of 4,593 convenience stores, 76 hypermarkets and 98 cosmetics stores (drogerie) in 1,325 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 September 30, 2011 the Company operated an in-house logistics system consisting of 14 distribution centers, employing automated stock replenishment systems and a fleet of 3,705 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 1H 2011, the Company recorded consolidated revenue of approximately US$5,471 million and consolidated EBITDA of around US$359 million.
[1]Sergey Galitskiy also won the "Russian corporate governance leaders - 2009" award in the same nomination
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