9th Dec 2010 07:00
Press-release
Krasnodar
December 9, 2010
OJSC "Magnit" announces unaudited November 2010 results
Krasnodar, December 9, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited November 2010 results[1].
During 11M 2010 the Company opened (net) 638 stores. The total store base reached 3,866 stores (3,827 convenience stores and 39 hypermarkets). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 11M 2010 increased by 37.90% in ruble terms (compared to 11M 2009) and stood at 207,452.65 million rubles. Net retail sales in November 2010 increased by 51.31% vs. November 2009 and amounted to 21,675.66 million rubles.
November 2010 Key Operating and Financial Highlights:
November 2010 | November 2009 | Growth Rate | 11M2010 | 11M2009 | Growth Rate | |
Number of opened stores, NET | 86 | 56 | n/a | 638 | 516 | n/a |
convenience stores | 82 | 56 | n/a | 623 | 508 | n/a |
hypermarkets | 4 | 0 | n/a | 15 | 8 | n/a |
Total number of stores | 3,866 | 3,098 | n/a | 3,866 | 3,098 | n/a |
convenience stores | 3,827 | 3,076 | n/a | 3,827 | 3,076 | n/a |
hypermarkets | 39 | 22 | n/a | 39 | 22 | n/a |
Selling space, sq. m. | 1,320,290 | 1,009,537 | 30.78% | 1,320,290 | 1,009,537 | 30.78% |
convenience stores | 1,193,376 | 934,954 | 27.64% | 1,193,376 | 934,954 | 27.64% |
hypermarkets | 126,914 | 74,583 | 70.16% | 126,914 | 74,583 | 70.16% |
Net retail sales, million RUR | 21,675.66 | 14,324.88 | 51.31% | 207,452.65 | 150,436.86 | 37.90% |
convenience stores | 19,475.94 | 13,149.47 | 48.11% | 187,338.52 | 139,240.47 | 34.54% |
hypermarkets | 2,199.72 | 1,175.40 | 87.15% | 20,114.13 | 11,196.39 | 79.65% |
Net retail sales, million US$[2] | 699.93 | 494.22 | 41.62% | 6,841.16 | 4,717.59 | 45.01% |
convenience stores | 628.90 | 453.67 | 38.63% | 6,177.86 | 4,366.48 | 41.48% |
hypermarkets | 71.03 | 40.55 | 75.16% | 663.30 | 351.11 | 88.92% |
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 September 30, 2010 the chain consisted of 3,658 convenience stores and 35 hypermarkets in 1,156 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 September 30, 2010 the Company operated an in-house logistics system consisting of 10 distribution centers, employing automated stock replenishment systems and a fleet of 2,262 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 1H 2010, the Company recorded consolidated revenue of approximately US$3,448 million and consolidated EBITDA of around US$252 million
[1] According to management accounts.
[2] Based on the average exchange rate for November 2010 of 30,9682 RUB per 1 USD, November 2009 - 28,9848 RUB per 1 USD, 11М 2010 - 30,3242 RUB per 1 USD, 11М 2009 - 31,8885 RUB per 1 USD
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