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Russia’s largest retailer OJSC “Magnit” announces 25.22% retail sales growth in January 2014

Krasnodar, Russia, 2014-2-10 — /EPR Retail News/ — OJSC “Magnit”, Russia’s largest retailer (the “Company”; MICEX and LSE: MGNT) announces 25.22% retail sales growth in rubles for January 2014.

During January 2014 the Company opened (net) 36 stores. The total store base reached 8,129 stores (7,234 convenience stores, 161 hypermarkets, 46 “Magnit Family” stores and 688 cosmetics stores).

Preliminary consolidated unaudited net retail revenue (excl. VAT) in January 2014 increased by 25.22% in ruble terms (compared to January 2013) and stood at 51,665.46 million rubles.

Sergey Galitskiy, the Company’s CEO, provided the following comment on the published results:

“Despite significantly lower food inflation in January 2014 (1.0% according to Rosstat) compared to January 2013 (1.8% according to Rosstat), sales growth in the first month of this year conforms to our guidance”.

For further information, please contact:

Timothy Post Director, Investor Relations
Office: +7-861-277-4554 x7600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562

Dina Svishcheva Deputy Director, Investor Relations
Office: +7-861-277-45-54 x5101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562

Company description:
Magnit is Russia’s largest retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200 convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the unaudited IFRS management accounts for 2013, Magnit had revenues of $18,202 million USD and an EBITDA of $2,032 million USD. Magnit’s local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it has a credit rating from Standard & Poor’s of BB. Measured by market capitalization, Magnit is now Europe’s 2nd largest retailer.

January 2014 Key Operating and Financial Highlights

EPR Retail News