3rd Nov 2015 13:37
PJSC MAGNIT - Opening of a New Distribution CenterPJSC MAGNIT - Opening of a New Distribution Center
PR Newswire
London, November 3
Press-release
Krasnodar
November 3, 2015
PJSC “Magnit” Announces the Opening of a New Distribution Center
Krasnodar, November 3, 2015: PJSC “Magnit”, Russia’s largest retailer (the “Company”; MOEX and LSE: MGNT) announces the opening of a new distribution center in Penza.
Please be informed that the Company has opened a new distribution center (DC) in Penza. Total space of the DC is about 63 thsd. sq. m. Launch of the new distribution facility will improve the quality of service in the Volga region.
“Magnit” operates 30 distribution centers with their total capacity of 1,140,263 sq. m.
For further information, please contact:
| Timothy Post | Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 | |
| Dina Svishcheva | Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 15101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 | |
| Media Inquiries | PR and GR Department [email protected] | |
Company description:
Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2015, Magnit operated 29 distribution centers and about 11,400 stores (9,246 convenience, 335 hypermarkets, and 1,807 drogerie stores) in approximately 2,297 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2015. Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 billion. Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor's of BB+. Measured by market capitalization, Magnit is one of the largest retailers in Europe.
Related Shares:
MGNT.L