30th Apr 2009 15:32
Press-release
Krasnodar
April 30, 2009
OJSC "Magnit" announces an increase of net profit (RAS, standalone basis)*
OJSC "Magnit" net profit increased from 207,100 thousand rubles in 4Q 2008 to 492,473 thousand rubles at the end of 1Q 2009 due to the distribution of the profit according to 2008 results by the subsidiary CJSC "Tander" in favor of OJSC "Magnit".
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Date of fact occurence: April 30, 2009 |
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Net profit of open joint-stock company "Magnit" at the end of 4Q 2008: 207,100 thousand rubles |
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Net profit of open joint-stock company "Magnit" at the end of 1Q 2009: 492,473 thousand rubles |
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Absolute change of the Company's net profit:285,373 thousand rubles |
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Relative change of the Company's net profit: 137.79% |
* The figures are counted according to the OJSC "Magnit" report which is made up under RAS, are disclosed according to the Russian legislation and do not characterize the operation of the whole group of "Magnit" companies.
For further information, please contact:
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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 |
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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
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