12th Oct 2009 07:09
Press-release
Krasnodar
October 12, 2009
OJSC "Magnit" announces unaudited September 2009 results
Krasnodar, October 12, 2009: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited 9M 2009 results (1).
During 9M 2009 the Company opened (net) 399 stores. The total store base reached 2,981 stores (2,960 convenience stores and 21 hypermarkets). Preliminary consolidated unaudited net retail revenue (excl. VAT) for 9M2009 increased by 30.96% in ruble terms (compared to 9M2008) and stood at 121,646.18 million rubles.
September and 9M 2009 Key Operating and Financial Highlights:
|
September 2009 |
September 2008 |
Growth Rate |
9M2009 |
9M2008 |
Growth Rate |
|
|
Number of opened stores, NET |
50 |
28 |
n/a |
399 |
208 |
n/a |
|
Total number of stores |
2,981 |
2,405 |
n/a |
2,981 |
2,405 |
n/a |
|
Total selling space, sq. m. |
967,228 |
753,584 |
28.35% |
967,228 |
753,584 |
28.35% |
|
Number of customers, million |
n/a |
n/a |
n/a |
737.50 |
630.30 |
17.01% |
|
Net retail sales, million RUB |
13,825.70 |
11,170.92 |
23.77% |
121,646.18 |
92,890.65 |
30.96% |
|
Net retail sales, million USD (2) |
448.63 |
441.79 |
1.55% |
3,745.10 |
3,863.14 |
(3.06)% |
|
LFL growth 9M 2009 to 9M 2008 (3) |
|
|
Average ticket (excluding VAT), RUB |
8.44% |
|
Number of tickets |
(1.07)% |
|
Revenue, RUB |
7.28% |
(1) According to management accounts
(2) Based on the average exchange rate for September 2009 of 30.8177 RUB per 1 USD, September 2008 - 25.2858 RUB per 1 USD, 9М 2009 - 32.4814 RUB per 1 USD, 9М 2008 - 24.0454 RUB per 1 USD
(3) Based on 1,783 stores which were opened by July 01, 2007, i.e. based on the result of the stores that had been operating for not less than six months and have achieved a mature level of sales
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 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 September 30, 2009 the chain consisted of 2,960 convenience stores and 21 hypermarkets in 974 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with population of less than 500,000 inhabitants. Most of its stores are located in the Southern, Central and Volga regions. The Company also operates stores in the North-Western and Urals regions.
As of September 30, 2009 the Company operated an in-house logistics system consisting of 9 distribution centers, employing automated stock replenishment systems and a fleet of 1,362 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 1H 2009, the Company posted consolidated revenue of approximately US$2,378 million and consolidated EBITDA of around US$224 million.
Related Shares:
MGNT.L