15th Dec 2008 12:05
Press-releaseKrasnodarDecember 15, 2008
OJSC "Magnit": OPENING OF THE 2500th CONVENIENCE STORE
Krasnodar, December 15, 2008: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 2500th convenience store.
Dear Ladies and Gentlemen!
We would like to inform you that today is the opening of the 2500th convenience store located at 20 Engelsa str., Belaya Kalitva of Rostov region, where it is the seventh store. Outlet is owned by the Company with its total space of 1400 sq. m., selling space of 500 sq. m. and rental space of 700 sq. m.
Today the Company operates in 830 locations in Russian Federation. As of 15.12.08 total selling space of 2500 convenience stores and 12 hypermarkets makes up 795 026 sq. m.
|
Federal District
|
Number of stores
|
Total selling space
|
|
Southern
|
984
|
285 880
|
|
Volga
|
719
|
216 840
|
|
Central
|
623
|
184 767
|
|
North-Western
|
111
|
37 574
|
|
Ural
|
63
|
19 325
|
|
Total
|
2 500
|
744 386
|
By the end of 2008 the Company plans to open about 50 convenience stores and 2 hypermarkets.
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