10th Nov 2008 07:00
Press-release
Krasnodar
November 10, 2008
OJSC "Magnit" announces unaudited October 2008 trading update
Krasnodar, November 10, 2008: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited 10M 2008 results.
During 10M 2008 the Company opened (net) 242 stores (234 convenience stores and 8 hypermarkets) with its total store base reaching 2,439 stores at the end of this period. Preliminary consolidated unaudited net retail revenue in 10M2008 increased by 41.02% in ruble terms (compared to 10M2007) and stood at 104,702.21 million rubles. Net retail sales in dollars increased by 49.79% YoY and stood at US$ 4,312.23 million.
October 2008 Key Operating and Financial Highlights:
|
|
October 2008
|
October 2007
|
Growth Rate
|
10M2008
|
10M2007
|
Growth Rate
|
|
Number of opened stores, NET
|
34
|
20
|
n/a
|
242
|
196
|
n/a
|
|
Total number of stores
|
2,439
|
2,089
|
n/a
|
2,439
|
2,089
|
n/a
|
|
Selling space, sq. m.
|
766,188
|
604,787
|
26.69%
|
766,188
|
604,787
|
26.69%
|
|
Net retail sales, million RUR
|
11,811.59
|
8,195.34
|
44.13%
|
104,702.21
|
74,243.80
|
41.02%
|
|
Net retail sales, million US$
|
448.16
|
329.21
|
36.13%
|
4,312.23
|
2,878.91
|
49.79%
|
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 September 30, 2008 the chain consisted of 2,394 convenience stores and 11 hypermarkets in 796 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 September 30, 2008 the Company operated an in-house logistics system consisting of 8 distribution centers, employing automated stock replenishment systems and a fleet of 1,133 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 9M 2008, the Company posted consolidated revenues of approximately US$ 3,881 million and a consolidated EBITDA of around US$ 265 million.
Related Shares:
MGNT.L