25th Apr 2008 07:00
OJSC Magnit25 April 2008 Press-release Krasnodar April 25, 2008 OJSC "Magnit" announces the opening of the sixth hypermarket KRASNODAR, April 25, 2008: OJSC Magnit (the "Company"; MGNT) is pleased toannounce the opening of the sixth hypermarket. Dear Ladies and Gentlemen! We are glad to inform you that today is the technical opening of the sixth"Magnit" hypermarket located at 14 Anapskoye road, Anapa, Krasnodar region.Total space of the store is 8,270 sq.m. and its selling space is 4,550 sq.m.(about 90 sq.m. is for lease). Assortment of the "Magnit" hypermarket consistsof about 13,000 SKUs, out of which 70% are food items. There are 20 cash desksinstalled in the sales area. 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 retailtrade under the "Magnit" name. The chain of "Magnit" stores is one of theleading operators in the Russian food retail market. As of December 31, 2007 thechain consisted of 2,194 convenience stores and 3 hypermarkets in more than 700locations in the Russian Federation. Approximately two-thirds of the Company's stores are located in cities with apopulation of less than 500 thousand. Most of its stores are located within theSouthern, Central and Volga regions. The Company also operates stores in theNorth-Western and Urals regions. As of December 31, 2007 the Company operates an in-house logistics systemconsisting of 8 modern distribution centers, employing automated stockreplenishment systems and a fleet of over 802 vehicles.In accordance with the reviewed IFRS consolidated financial statements, for theyear of 2007, the Company posted consolidated revenues of approximately US$3,677 million and a consolidated EBITDA of around US$ 219 million.-------------------------------------------------------------------------------- This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
MGNT.L