10th Nov 2010 07:00
Press-release
Krasnodar
November 10, 2010
OJSC "Magnit" announces unaudited October 2010 results
Krasnodar, November 10, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited October 2010 results[1].
During 10M 2010 the Company opened (net) 552 stores. The total store base reached 3,780 stores (3,745 convenience stores and 35 hypermarkets). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 10M 2010 increased by 36.49% in ruble terms (compared to 10M 2009) and stood at 185,776.99 million rubles. Net retail sales in October 2010 increased by 47.28% vs. October 2009 and amounted to 21,304.66 million rubles.
October 2010 Key Operating and Financial Highlights:
October 2010 | October 2009 | Growth Rate | 10M2010 | 10M2009 | Growth Rate | |
Number of opened stores, NET | 87 | 61 | n/a | 552 | 460 | n/a |
convenience stores | 87 | 60 | n/a | 541 | 452 | n/a |
hypermarkets | 0 | 1 | n/a | 11 | 8 | n/a |
Total number of stores | 3,780 | 3,042 | n/a | 3,780 | 3,042 | n/a |
convenience stores | 3,745 | 3,020 | n/a | 3,745 | 3,020 | n/a |
hypermarkets | 35 | 22 | n/a | 35 | 22 | n/a |
Selling space, sq. m. | 1,269,253 | 988,290 | 28.43% | 1,269,253 | 988,290 | 28.43% |
convenience stores | 1,152,953 | 913,707 | 26.18% | 1,152,953 | 913,707 | 26.18% |
hypermarkets | 116,300 | 74,583 | 55.93% | 116,300 | 74,583 | 55.93% |
Net retail sales, million RUR | 21,304.66 | 14,465.80 | 47.28% | 185,776.99 | 136,111.98 | 36.49% |
convenience stores | 19,140.96 | 13,275.87 | 44.18% | 167,862.58 | 126,090.99 | 33.13% |
hypermarkets | 2,163.70 | 1,189.93 | 81.83% | 17,914.41 | 10,020.99 | 78.77% |
Net retail sales, million US$[2] | 702.63 | 490.75 | 43.18% | 6,139.22 | 4,230.35 | 45.12% |
convenience stores | 631.27 | 450.38 | 40.16% | 5,547.21 | 3,918.90 | 41.55% |
hypermarkets | 71.36 | 40.37 | 76.77% | 592.00 | 311.45 | 90.08% |
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 October 2010 of 30.3214 RUB per 1 USD, October 2009 - 29.4772 RUB per 1 USD, 10М 2010 - 30.2607 RUB per 1 USD, 10М 2009 - 32.1751 RUB per 1 USD
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