10th Feb 2009 07:00
Press-releaseKrasnodarFebruary 10, 2009
OJSC "Magnit" announces unaudited January 2009 trading update
Krasnodar, February 10, 2009: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited January 2009 results.
During January the Company opened 13 stores (net) with its total store base reaching 2,592 stores at the end of this period. Preliminary consolidated unaudited net retail revenue in January 2009 increased by 41.96% in ruble terms (compared to January 2008) and stood at 12,395.04 million rubles. Net retail sales in dollars increased by 10.34% YoY and stood at US$ 393.20 million.
January 2009 Key Operating and Financial Highlights:
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January 2009
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January 2008
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Growth Rate
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Number of opened stores, NET
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13
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5
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n/a
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Total number of stores
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2,592
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2,202
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n/a
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Selling space, sq. m.
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827,751
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655,118
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26.35%
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Net retail sales, million RUR
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12,395.04
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8,731.60
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41.96%
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Net retail sales, million US$
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393.20
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356.37
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10.34%
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Oleg Goncharov
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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
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Dina Chistyak
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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
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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, 2008 the chain consisted of 2,565 convenience stores and 14 hypermarkets in 856 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, 2008 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,165 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 9M 2008, the Company posted consolidated revenues of approximately US$ 3,881 million and a consolidated EBITDA of around US$ 265 million.
Related Shares:
MGNT.L