11th May 2010 08:47
The following replaces the March/3M 2010 Results announcement released on 12 April 2010 at 07:00 nder RNS Number 0177K
The US$ figures have been amended due to an exchange rate revision.
The full amended text appears below.
Press-release
Krasnodar
April 12, 2010
OJSC "Magnit" announces unaudited March 2010 results
Krasnodar, April 12, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited March 2010 results[1].
During 3M 2010 the Company opened (net) 90 stores. The total store base reached 3,318 stores (3,293 convenience stores and 25 hypermarkets). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 3M 2010 increased by 28.36% in ruble terms (compared to 3M 2009) and stood at 48,992.13 million rubles.
March 2010 Key Operating and Financial Highlights:
|
|
March 2010 |
March 2009 |
Growth Rate |
3M2010 |
3M2009 |
Growth Rate |
|
Number of opened stores, NET |
47 |
56 |
n/a |
90 |
94 |
n/a |
|
convenience stores |
46 |
56 |
n/a |
89 |
94 |
n/a |
|
hypermarkets |
1 |
0 |
n/a |
1 |
0 |
n/a |
|
Total number of stores |
3,318 |
2,676 |
n/a |
3,318 |
2,676 |
n/a |
|
convenience stores |
3,293 |
2,662 |
n/a |
3,293 |
2,662 |
n/a |
|
hypermarkets |
25 |
14 |
n/a |
25 |
14 |
n/a |
|
Selling space, sq. m. |
1,092,610 |
854,260 |
27.90% |
1,092,610 |
854,260 |
27.90% |
|
convenience stores |
1,009,047 |
797,895 |
26.46% |
1,009,047 |
797,895 |
26.46% |
|
hypermarkets |
83,563 |
56,365 |
48.25% |
83,563 |
56,365 |
48.25% |
|
Net retail sales, million RUR |
17,759.12 |
13,506.50 |
31.49% |
48,992.13 |
38,168.01 |
28.36% |
|
convenience stores |
16,202.11 |
12,614.34 |
28.44% |
44,839.95 |
35,706.94 |
25.58% |
|
hypermarkets |
1,557.01 |
892.16 |
74.52% |
4,152.17 |
2,461.07 |
68.71% |
|
Net retail sales, million US$[2] |
600.67 |
389.44 |
54.24% |
1,639.06 |
1,124.88 |
45.71% |
|
convenience stores |
548.01 |
363.71 |
50.67% |
1,500.15 |
1,052.35 |
42.55% |
|
hypermarkets |
52.66 |
25.72 |
104.72% |
138.91 |
72.53 |
91.52% |
|
LFL growth 3М 2010 to 3М 2009 [3] |
Convenience stores |
Hypermarkets |
Total |
|
Average ticket (excluding VAT), RUB |
3.17% |
2.74% |
3.43% |
|
Number of tickets |
(0.70)% |
9.17% |
(0.60)% |
|
Revenue, RUB |
2.44% |
12.15% |
2.81% |
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 December 31, 2009 the chain consisted of 3,204 convenience stores and 24 hypermarkets in 1,048 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 and Urals regions.
As of December 31, 2009 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,453 vehicles.
In accordance with the audited IFRS consolidated financial statements for the twelve months ended December 31, 2009, the Company recorded consolidated revenue of approximately US$5,354 million and consolidated EBITDA of around US$509 million.
[1] According to management accounts
[2] Based on the average exchange rate for March 2010 of 29.5654 RUB per 1 USD, March 2009 - 34.6820 RUB per 1 USD, 3М 2010 - 29.8903 RUB per 1 USD, 3М 2009 - 33.9308 per 1 USD
[3] Based on 2,192 convenience stores which were opened by July 01, 2008, and 7 hypermarkets which were opened by May 01, 2008, i.e. based on the result of the convenience stores that had been operating for not less than six months and hypermarkets that had been operating for not less than eight months and have achieved a mature level of sales
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