10th Apr 2012 07:00
Press-release
Krasnodar
April 10, 2012
OJSC "Magnit" announces unaudited March 2012 results
Krasnodar, April 10, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce its unaudited March 2012 results[1]
During 3M 2012 the Company opened (net) 157 stores. The total store base reached 5,466 stores (5,104 convenience stores, 96 hypermarkets and 266 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 3M 2012 increased by 34.07% in ruble terms (compared to 3M 2011) and stood at 100,593.43 million rubles.
March 2012 Key Operating and Financial Highlights:
March 2012 | March 2011 | Growth Rate | 3M 2012[2] | 3M 2011 | Growth Rate | |
Number of opened stores, NET | 86 | 53 | n/a | 157 | 134 | n/a |
convenience stores | 57 | 48 | n/a | 98 | 126 | n/a |
hypermarkets | 3 | 4 | n/a | 3 | 6 | n/a |
cosmetics stores | 26 | 1 | n/a | 56 | 2 | n/a |
Total number of stores | 5,466 | 4,189 | n/a | 5,466 | 4,189 | n/a |
convenience stores | 5,104 | 4,128 | n/a | 5,104 | 4,128 | n/a |
hypermarkets | 96 | 57 | n/a | 96 | 57 | n/a |
cosmetics stores | 266 | 4 | n/a | 266 | 4 | n/a |
Selling space, thousand sq. m. | 2,024.90 | 1,485.72 | 36.29% | 2,024.90 | 1,485.72 | 36.29% |
convenience stores | 1,673.48 | 1,303.42 | 28.39% | 1,673.48 | 1,303.42 | 28.39% |
hypermarkets | 288.29 | 181.00 | 59.28% | 288.29 | 181.00 | 59.28% |
cosmetics stores | 63.12 | 1.30 | n/a | 63.12 | 1.30 | n/a |
Number of customers, million | 165.47 | 134.78 | 22.77% | 462.04 | 370.14 | 24.83% |
152.72 | 128.34 | 19.00% | 427.82 | 353.36 | 21.07% | |
11.18 | 6.41 | 74.29% | 30.26 | 16.73 | 80.93% | |
1.57 | 0.03 | n/a | 3.96 | 0.05 | n/a | |
March 2012 | March 2011 | Growth Rate | 3M 20122 | 3M 2011 | Growth Rate | |
Net retail sales, million RUR | 36,178.18 | 27,304.76 | 32.50% | 100,593.43 | 75,031.30 | 34.07% |
convenience stores | 29,830.35 | 23,991.88 | 24.34% | 83,658.79 | 66,338.81 | 26.11% |
hypermarkets | 5,963.49 | 3,307.70 | 80.29% | 15,981.84 | 8,681.98 | 84.08% |
cosmetics stores | 384.33 | 5.18 | n/a | 952.80 | 10.52 | n/a |
Net retail sales, million US$[3] | 1,231.90 | 960.37 | 28.27% | 3,323.84 | 2,563.44 | 29.66% |
convenience stores | 1,015.75 | 843.85 | 20.37% | 2,764.28 | 2,266.46 | 21.96% |
hypermarkets | 203.06 | 116.34 | 74.54% | 528.08 | 296.62 | 78.03% |
cosmetics stores | 13.09 | 0.18 | n/a | 31.48 | 0.36 | n/a |
LFL results
LFL growth 1Q 2012 - 1Q 2011[4] | Convenience stores | Hypermarkets | Total |
Average ticket (excluding VAT), RUR | 4.73% | 3.87% | 4.90% |
Traffic | (0.88)% | 3.37% | (0.75)% |
Revenue, RUR | 3.81% | 7.37% | 4.12% |
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 March 31, 2012 the chain consisted of 5,104 convenience stores, 96 hypermarkets and 266 cosmetics stores (drogerie) in 1,424 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 March 31, 2012 the Company operated an in-house logistics system consisting of 15 distribution centers, employing automated stock replenishment systems and a fleet of 3,922 vehicles.
In accordance with the audited IFRS consolidated financial statements for 2011, the Company recorded consolidated revenue of approximately US$ 11,423 million and consolidated EBITDA of around US$ 939 million.
[1] According to management accounts
[2] Please note that February 2012 had 29 days when comparing 3M 2012 with 3M 2011.
[3] Based on the average exchange rate for March 2012 of 29.3678 RUB per 1 USD, March 2011 - 28.4316 RUB per 1 USD, 3М 2012 - 30.2642 RUB per 1 USD, 3M 2011 - 29.2698 RUB per 1 USD
[4] Based on 3,168 convenience stores which were opened by July 1, 2010, and 25 hypermarkets which were opened by May 1, 2010, 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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