14th Apr 2009 07:00
Press-release
Krasnodar
April 14, 2009
OJSC "Magnit" announces unaudited March 2009 trading update
Krasnodar, April 14, 2008: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited March 2009 results (1).
During 3M 2009 the Company opened (net) 94 stores with its total store base reaching 2,676 stores at the end of this period. Preliminary consolidated unaudited net retail revenue in 3M2009 increased by 36.25% in ruble terms (compared to 3M2008) and stood at 38,168.01 million rubles.
March 2009 Key Operating and Financial Highlights:
|
|
March 2009 |
March 2008 |
Growth Rate |
3M2009 |
3M2008 |
Growth Rate |
|
Number of opened stores, NET |
56 |
21 |
n/a |
94 |
41 |
n/a |
|
Total number of stores |
2,676 |
2,238 |
n/a |
2,676 |
2,238 |
n/a |
|
Selling space, sq.m. |
854,260 |
674,935 |
26.57% |
854,260 |
674,935 |
26.57% |
|
Net retail sales, million RUR |
13,506.50 |
10,105.21 |
33.66% |
38,168.01 |
28,012.97 |
36.25% |
|
Net retail sales, million US$ |
389.44 |
425.28 |
(8.43)% |
1,124.88 (2) |
1,154.69 (3) |
(2.58)% |
|
LFL growth 3M 2009 to 3M 2008 (4) |
|
|
Average ticket (excl. VAT), RUR |
13.68% |
|
Number of tickets |
0.37% |
|
Revenue, RUR |
14.05% |
(1) Management accounts
(2) Average rate for 3M 2009 amounts to 33.9308 RUR per 1 USD
(3) Average rate for 3M 2008 amounts to 24.2601 RUR per 1 USD
(4) Applicable to 1,849 stores opened by July 01, 2007. Thus, LFL analysis is based on the stores that have been operating not less than six months, i.e. achieved the mature level of sales.
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, 2008 the chain consisted of 2,568 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 audited IFRS consolidated financial statements for 2008, the Company posted consolidated revenues of approximately US$ 5,348 million and a consolidated EBITDA of around US$ 402 million
Related Shares:
MGNT.L