29th May 2008 08:04
Press-release
Krasnodar
May 29, 2008
OJSC "Magnit" announces the opening of the eighth hypermarket
KRASNODAR, May 29, 2008: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the eighth hypermarket.
Dear Ladies and Gentlemen!
We are glad to inform you that the technical opening of the eighth "Magnit" hypermarket located at 3A Shtemenko str., Volgograd, took place on May 28, 2008. Total space of the store is 4,787 sq. m. and its selling space is 2,400 sq. m. Assortment of the "Magnit" hypermarket consists of about 9,000 SKUs, out of which 66% are food items. There are 14 cash desks installed in the sales area.
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 modern distribution centers, employing automated stock replenishment systems and a fleet of over 802 vehicles.
In accordance with the reviewed IFRS consolidated financial statements, for the year of 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