Krasnodar, Russia, 2014-10-30— /EPR Retail News/ — PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MICEX and LSE: MGNT) announces the opening of the 8000th convenience store.
Please be informed that today the Company opened its 8000th convenience store located at 29a Svobody street, Chukhloma, Kostroma oblast. This is the first “Magnit” store in this town where population is about 5000 people. The total space of the store is 477 sq. m. and its selling space is 351 sq. m. The outlet is owned by the Company.
For further information, please contact:
Timothy Post Director, Investor Relations
Email: post@magnit.ru
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562
Dina Svishcheva Deputy Director, Investor Relations
Email: Chistyak@magnit.ru
Office: +7-861-277-45-54 x 15101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562
Company description:
Magnit is Russia’s largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891 convenience, 243 hypermarkets, and 886 drogerie stores) in approximately 2,000 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2014, Magnit had revenues of $9,979 million USD and an EBITDA of $1,045 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 one of the largest retailers in Europe.