16th Apr 2013 11:35
OJSC MAGNIT - Opening of the First Store above the Arctic CircleOJSC MAGNIT - Opening of the First Store above the Arctic Circle
PR Newswire
London, April 16
OJSC "Magnit" Announces the Opening of the FirstStore abovethe Arctic Circle
Krasnodar, April 16, 2013: OJSC "Magnit", Russia largest retailer (the"Company", MICEX and LSE: MGNT), is pleased to announce the opening of thefirst store above the Arctic Circle.
Today the Company opened its first convenience store above the Arctic Circle atthe following address: 25 Kandalakshaskoe shosse, Kandalaksha, Murmansk region.Population of this town is about 35 700 inhabitants. The total space of thestore is 714 sq. m. and its selling space is 469 sq. m. The outlet is leased bythe Company.
Kandalaksha is 1 469 km far from Moscow and 3 016 km far from Krasnodar.
For further information, please contact:
Timothy Post Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 7600 Mob.: +7 (961) 511-76-78 Direct line for investors only: +7 (861) 277-45-62 Dina Svishcheva Deputy Director, 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) 277-45-62Company description:
Headquartered in the southern Russia city of Krasnodar, Magnit (LSE and MICEX:MGNT, S&P: "BB") is the holding company for a group of entities that operate inthe retail trade under the "Magnit" brand. The chain of "Magnit" stores is thelargest food retail network in Russia. As of March 31, 2013 the chain consistedof 6,209 convenience stores, 132 hypermarkets, 21 "Magnit Family" stores and713 cosmetics stores (drogerie) in 1,647 cities and towns throughout theRussian Federation.
Approximately two-thirds of the Magnit's stores are located in cities with apopulation of less than 500,000 inhabitants. Most of its stores are located inthe Southern, North-Caucasian, Central and Volga regions. The Company alsooperates stores in the North-Western, Urals and Siberian regions.
As of March 31, 2013 Magnit operated an in-house logistics system consisting of18 distribution centers, employing automated stock replenishment systems and afleet of 4,448 vehicles.
In accordance with the audited IFRS consolidated financial statements for 2012,Magnit recorded consolidated revenues of approximately $14,430 million USD anda consolidated EBITDA of $1,524 million USD.
Related Shares:
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