10th Nov 2011 07:00
Press-release
Krasnodar
November 10, 2011
OJSC "Magnit" announces unaudited October 2011 results
Krasnodar, November 10, 2011: OJSC "Magnit" (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited October 2011 results[1]
During 10M 2011 the Company opened (net) 815 stores. The total store base reached 4,870 stores (4,675 convenience stores, 77 hypermarkets and 118 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 10M 2011 increased by 44.41% in ruble terms (compared to 10M 2010) and stood at 268,278.56 million rubles.
October 2011 Key Operating and Financial Highlights:
October 2011 | October 2010 | Growth Rate | 10M 2011 | 10M 2010 | Growth Rate | |
Number of opened stores, NET | 103 | 87 | n/a | 815 | 552 | n/a |
convenience stores | 82 | 87 | n/a | 673 | 541 | n/a |
hypermarkets | 1 | - | n/a | 26 | 11 | n/a |
cosmetics stores | 20 | - | n/a | 116 | - | n/a |
Total number of stores | 4,870 | 3,780 | n/a | 4,870 | 3,780 | n/a |
convenience stores | 4,675 | 3,745 | n/a | 4,675 | 3,745 | n/a |
hypermarkets | 77 | 35 | n/a | 77 | 35 | n/a |
cosmetics stores | 118 | - | n/a | 118 | - | n/a |
Selling space, thousand sq. m. | 1,782.99 | 1,269.25 | 40.48% | 1,782.99 | 1,269.25 | 40.48% |
convenience stores | 1,520.20 | 1,152.95 | 31.85% | 1,520.20 | 1,152.95 | 31.85% |
hypermarkets | 235.24 | 116.30 | 102.27% | 235.24 | 116.30 | 102.27% |
cosmetics stores | 27.56 | - | n/a | 27.56 | - | n/a |
Net retail sales, million RUR | 28,171.41 | 21,304.66 | 32.23% | 268,278.56 | 185,776.99 | 44.41% |
convenience stores | 23,930.88 | 19,140.96 | 25.02% | 232,002.49 | 167,862.58 | 38.21% |
hypermarkets | 4,113.89 | 2,163.70 | 90.13% | 35,885.28 | 17,914.41 | 100.32% |
cosmetics stores | 126.64 | - | n/a | 390.80 | - | n/a |
Net retail sales, million US$[2] | 898.27 | 702.63 | 27.84% | 9,241.07 | 6,139.22 | 50.53% |
convenience stores | 763.05 | 631.27 | 20.88% | 7,991.52 | 5,547.21 | 44.06% |
hypermarkets | 131.17 | 71.36 | 83.82% | 1,236.10 | 592.00 | 108.80% |
cosmetics stores | 4.04 | - | n/a | 13.46 | - | n/a |
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, 2011 the chain consisted of 4,593 convenience stores, 76 hypermarkets and 98 cosmetics stores (drogerie) in 1,325 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, 2011 the Company operated an in-house logistics system consisting of 14 distribution centers, employing automated stock replenishment systems and a fleet of 3,705 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 1H 2011, the Company recorded consolidated revenue of approximately US$5,471 million and consolidated EBITDA of around US$359 million.
[1] According to management accounts
[2] Based on the average exchange rate for October 2011 of 31.3620 RUB per 1 USD, October 2010 - 30.3214 RUB per 1 USD, 10М 2011 - 29.0311 RUB per 1 USD, 10M 2010 - 30.2607 RUB per 1 USD
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