11th Oct 2010 07:00
Press-release
Krasnodar
October 11, 2010
OJSC "Magnit" announces unaudited September 2010 results
Krasnodar, October 11, 2010: OJSC «Magnit» (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited September 2010 results[1].
During 9M 2010 the Company opened (net) 465 stores. The total store base reached 3,693 stores (3,658 convenience stores and 35 hypermarkets). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 9M 2010 increased by 35.21% in ruble terms (compared to 9M 2009) and stood at 164,472.34 million rubles. Net retail sales in September 2010 increased by 44.11% vs. September 2009 and amounted to 19,923.89 million rubles.
September 2010 Key Operating and Financial Highlights:
|
|
September 2010 |
September 2009 |
Growth Rate |
9M2010 |
9M2009 |
Growth Rate |
|
Number of opened stores, NET |
79 |
50 |
n/a |
465 |
399 |
n/a |
|
convenience stores |
76 |
49 |
n/a |
454 |
392 |
n/a |
|
hypermarkets |
3 |
1 |
n/a |
11 |
7 |
n/a |
|
|
||||||
|
Total number of stores |
3,693 |
2,981 |
n/a |
3,693 |
2,981 |
n/a |
|
convenience stores |
3,658 |
2,960 |
n/a |
3,658 |
2,960 |
n/a |
|
hypermarkets |
35 |
21 |
n/a |
35 |
21 |
n/a |
|
|
||||||
|
Selling space, sq. m. |
1,241,090 |
967,228 |
28.31% |
1,241,090 |
967,228 |
28.31% |
|
convenience stores |
1,124,790 |
896,573 |
25.45% |
1,124,790 |
896,573 |
25.45% |
|
hypermarkets |
116,300 |
70,655 |
64.60% |
116,300 |
70,655 |
64.60% |
|
|
||||||
|
Number of customers, mn |
n/a |
n/a |
n/a |
940.20 |
737.50 |
27.49% |
|
convenience stores |
n/a |
n/a |
n/a |
909.32 |
720.27 |
26.25% |
|
hypermarkets |
n/a |
n/a |
n/a |
30.88 |
17.23 |
79.20% |
|
|
||||||
|
Net retail sales, million RUR |
19,923.89 |
13,825.70 |
44.11% |
164,472.34 |
121,646.18 |
35.21% |
|
convenience stores |
17,817.16 |
12,683.81 |
40.47% |
148,721.62 |
112,815.12 |
31.83% |
|
hypermarkets |
2,106.73 |
1,141.89 |
84.50% |
15,750.72 |
8,831.06 |
78.36% |
|
|
||||||
|
Net retail sales, million US$[2] |
646.11 |
448.63 |
44.02% |
5,436.42 |
3,745.10 |
45.16% |
|
convenience stores |
577.79 |
411.58 |
40.39% |
4,915.80 |
3,473.22 |
41.53% |
|
hypermarkets |
68.32 |
37.05 |
84.38% |
520.62 |
271.88 |
91.49% |
LFL Results
|
LFL growth 9М 2010 to 9М 2009[3] |
Convenience stores |
Hypermarkets |
Total |
|
Average ticket (excluding VAT), RUB |
3.84% |
4.51% |
4.14% |
|
Traffic |
2.43% |
11.01% |
2.53% |
|
Revenue, RUB |
6.36% |
16.01% |
6.78% |
|
|
|||
|
LFL growth 3Q 2010 to 3Q 2009 [4] |
Convenience stores |
Hypermarkets |
Total |
|
Average ticket (excluding VAT), RUB |
5.39% |
7.18% |
5.81% |
|
Traffic |
6.11% |
13.22% |
6.24% |
|
Revenue, RUB |
11.83% |
21.36% |
12.41% |
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 September 30, 2010 the chain consisted of 3,658 convenience stores and 35 hypermarkets in 1,156 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 September 30, 2010 the Company operated an in-house logistics system consisting of 10 distribution centers, employing automated stock replenishment systems and a fleet of 2,262 vehicles.
In accordance with the unaudited IFRS consolidated financial statements for 1H 2010, the Company recorded consolidated revenue of approximately US$3,448 million and consolidated EBITDA of around US$252 million
[1] According to management accounts.
[2] Based on the average exchange rate for September 2010 of 30.8365 RUB per 1 USD, September 2009 - 30.8177 RUB per 1 USD, 9М 2010 - 30.2538 RUB per 1 USD, 9М 2009 - 32.4814 RUB per 1 USD
[3] Based on 2,070 convenience stores which were opened by July 01, 2008, and 7 hypermarkets which were opened by May 01, 2008, i.e. based on the result of the convenience stores that had been operating for not less than six months and hypermarkets that had been operating for not less than eight months and have achieved a mature level of sales
[4] Based on 2,394 convenience stores which were opened by January 01, 2009, and 11 hypermarkets which were opened by November 01, 2008, i.e. based on the result of the convenience stores that had been operating for not less than six months and hypermarkets that had been operating for not less than eight months and have achieved a mature level of sales
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