3rd Oct 2008 11:39
The following amendments have been made to the 'Opening of the 2400th Store' announcement released on 03/10/08 at 7.00am under RNS No 0140F.
(Figures in the table were incorrect).
Press-release
Krasnodar
October 3, 2008
OJSC "Magnit": OPENING OF THE 2400th STORE
KRASNODAR, October 3 2008: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce the opening of the 2400th convenience store.
Dear Ladies and Gentlemen!
We would like to inform you that today is the opening of the 2400th convenience store located at 288 Kosta prospect, Vladikavkaz where it is the sixth store.
The total space of the store is 330 sq. m. and its selling space is 212 sq. m.
Today the Company operates in 797 locations in Russian Federation. As of 03.10.08 total selling space of the company's stores makes up 709 509 sq. m.
|
Federal District |
Number of stores |
Total selling space |
|
Southern |
955 |
276 328 |
|
Volga |
687 |
204 417 |
|
Central |
599 |
176 282 |
|
North-Western |
104 |
35 505 |
|
Ural |
55 |
16 977 |
|
Total |
2 400 |
709 509 |
By the end of 2008 the Company plans to open at least another 110 stores.
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 June 30, 2008 the chain consisted of 2,312 convenience stores and 9 hypermarkets in more than 760 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 June 30, 2008 the Company operated an in-house logistics system consisting of 8 distribution centers, employing automated stock replenishment systems and a fleet of 1,030 vehicles.
In accordance with the audited IFRS consolidated financial statements for 1H2008, the Company posted consolidated revenues of approximately US$ 2,470 million and a consolidated EBITDA of around US$ 158 million.
Related Shares:
MGNT.L