OJSC MAGNIT - 18th "Magnit Family" Store Opening

Date : 12/05/2012 @ 2:00AM
Source : PR Newswire (US)
Stock : (MGNT)
Quote : 33.57  0.0 (0.00%) @ 1:39AM
Quote Chart

OJSC MAGNIT - 18th "Magnit Family" Store Opening

OJSC MAGNIT - 18th "Magnit Family" Store Opening


December 5, 2012

OJSC "Magnit" announces the opening of the 18th" Magnit Family" store

Krasnodar, December 5, 2012: OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce the opening of the 18th "Magnit Family" store.

Dear Ladies and Gentlemen!

We are glad to inform you that today the Company has opened its 18th "Magnit Family" store located at 16 Lenina prospect, Samara, Volga federal district. Assortment of the store consists of more than 5,500 SKUs, out of which about 89% are food items. There are 11 cash desks installed in the sales area. The store is open 7 days a week from 10 am to 10 pm.

For further information, please contact:

Oleg Goncharov                          Director, Investor Relations           
                                        e-mail: Goncharov@gw.tander.ru         
                                        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: Chistyak@gw.tander.ru          
                                        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" (LSE and MICEX: MGNT, S&P: "BB-") 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, 2012 the chain consisted of 5,523 convenience stores, 105 hypermarkets, 11 "Magnit Family" stores and 480 cosmetics stores (drogerie) in 1,504 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, 2012 the Company operated an in-house logistics system consisting of 17 distribution centers, employing automated stock replenishment systems and a fleet of 4,082 vehicles.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2012, the Company recorded consolidated revenue of approximately US$ 6,776 million and consolidated EBITDA of around US$ 671 million.

Copyright er 5 PR Newswire

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