12th Mar 2012 12:48
The following replaces the February/2M 2012 Results announcement released at 0700 under RNS Number 1303Z.
The Selling Space figures have been amended.
The full amended text appears below.
Press-release
Krasnodar
March 12, 2012
OJSC "Magnit" announces unaudited February 2012 results
Krasnodar, March 12, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce its unaudited February 2012 results[1]
During 2M 2011 the Company opened (net) 71 stores. The total store base reached 5,380 stores (5,047 convenience stores, 93 hypermarkets and 240 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 2M 2012 increased by 34.97% in ruble terms (compared to 2M 2011) and stood at 64,415.25 million rubles.
February 2012 Key Operating and Financial Highlights[2]:
February 2012 | February 2011 | Growth Rate | 2M 2012 | 2M 2011 | Growth Rate | |
Number of opened stores, NET | 34 | 51 | n/a | 71 | 81 | n/a |
convenience stores | 18 | 48 | n/a | 41 | 78 | n/a |
hypermarkets | 0 | 2 | n/a | 0 | 2 | n/a |
cosmetics stores | 16 | 1 | n/a | 30 | 1 | n/a |
Total number of stores | 5,380 | 4,136 | n/a | 5,380 | 4,136 | n/a |
convenience stores | 5,047 | 4,080 | n/a | 5,047 | 4,080 | n/a |
hypermarkets | 93 | 53 | n/a | 93 | 53 | n/a |
cosmetics stores | 240 | 3 | n/a | 240 | 3 | n/a |
Selling space, thousand sq. m. | 1,993.69 | 1,461.57 | 36.41% | 1,993.69 | 1,461.57 | 36.41% |
convenience stores | 1,653.03 | 1,290.25 | 28.12% | 1,653.03 | 1,290.25 | 28.12% |
hypermarkets | 283.29 | 170.44 | 66.21% | 283.29 | 170.44 | 66.21% |
cosmetics stores | 57.37 | 0.88 | n/a | 57.37 | 0.88 | n/a |
Net retail sales, million RUR | 33,292.60 | 24,216.89 | 37.48% | 64,415.25 | 47,726.54 | 34.97% |
convenience stores | 27,699.22 | 21,425.28 | 29.28% | 53,828.44 | 42,346.92 | 27.11% |
hypermarkets | 5,268.21 | 2,788.53 | 88.92% | 10,018.35 | 5,374.28 | 86.41% |
cosmetics stores | 325.17 | 3.08 | n/a | 568.47 | 5.34 | n/a |
Net retail sales, million US$[3] | 1,114.06 | 826.66 | 34.77% | 2,096.35 | 1,606.40 | 30.50% |
convenience stores | 926.89 | 731.37 | 26.73% | 1,751.81 | 1,425.33 | 22.91% |
hypermarkets | 176.29 | 95.19 | 85.20% | 326.04 | 180.89 | 80.24% |
cosmetics stores | 10.88 | 0.11 | n/a | 18.50 | 0.18 | n/a |
For further information, please contact:
Oleg Goncharov | Director, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5100 Mob.: +7 (903) 411-40-35 Direct line for investors only: +7 (861) 277-45-62 |
Dina Svishcheva | Manager, Investor Relations e-mail: [email protected] Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101 Mob.: +7-961-511-02-02 Direct line for investors only: +7 (861) 277-45-62 |
Company description:
Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company "Magnit" is the holding company for a group of entities that operate in the retail trade under the "Magnit" brand. The chain of "Magnit" stores is one of the leading food retail networks in Russia. As of December 31, 2011 the chain consisted of 5,006 convenience stores, 93 hypermarkets and 210 cosmetics stores (drogerie) in 1,389 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions.
As of December 31, 2011 the Company operated an in-house logistics system consisting of 14 distribution centers, employing automated stock replenishment systems and a fleet of 3,906 vehicles.
In accordance with the unaudited IFRS management accounts for 2011, the Company recorded consolidated revenue of approximately US$ 11,423 million and consolidated EBITDA of around US$ 934 million.
[1] According to management accounts
[2] Please note that February 2012 had 29 days when comparing 2M 2012 with 2M 2011.
[3] Based on the average exchange rate for February 2012 of 29.8839 RUB per 1 USD, February 2011 - 29.2947 RUB per 1 USD, 2М 2012 - 30.7273 RUB per 1 USD, 2M 2011 - 29.7102 RUB per 1 USD
Related Shares:
MGNT.L