RUSSIA: Magnit FY sales jump on store openings
Magnit reported preliminary consolidated net sales up by 34%
Russian retailer Magnit has reported full-year sales up by more than a third, after opening nearly 1,600 stores during the period.
For the 12 months to the end of December, Magnit reported preliminary consolidated net sales up by 34% versus 2011, to RUB448.5bn (US$14.8bn). Sales rose by 35% in the fourth-quarter, to RUB129bn.
The group opened 1,575 new stores during 2012, taking its total network to 6,884 outlets. Most of the new openings were convenience stores, the mainstay of Magnit's business, but it also opened 13 hypermarkets, taking its total number of hypermarkets to 126.
On a like-for-like basis, Magnit's sales for the year increased by 5.3%. In the final three months of the year, the increase was 8.5%, buoyed by an 8% rise in convenience store sales and an 11.4% increase in hypermarket sales.
January 10, 2013
OJSC "Magnit" Announces 35% Retail Sales Growth in Rubles for December 2012
Krasnodar, January 10, 2013: OJSC "Magnit" (the "Company"; MICEX
and LSE: MGNT) announces 35% retail sales growth in rubles for December
During 12M 2012 the Company opened (net) 1,575 stores. The total
store base reached 6,884 stores (6,046 convenience stores, 126 hypermarkets,
20 "Magnit Family" stores and 692 cosmetics stores). Preliminary consolidated
unaudited net retail revenue (excl. VAT) in 12M 2012 increased by 33.63% in
ruble terms (compared to 12M 2011) and stood at 448,486.20 million rubles.
December 2012 Key Operating and Financial Highlights: page 2
4Q and 12M 2012 Key Operating and Financial Highlights: page 3
LFL results. page 4
For further information, please contact:
Oleg Goncharov Director, Investor Relations
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
Tel. in Krasnodar +7 (861) 277-45-54, 210-98-10 ext. 5101
Direct line for investors only: +7 (861) 277-45-62
December 2012 Key Operating and Financial Highlights:
|Number of opened stores, NET||407||286||n/a|
|Total number of stores||6884||5309||n/a|
|Selling space, thousand sq. m.||2549.26||1970.16||29.39%|
|Number of customers, million||196.11||162.3||20.83%|
|Net retail sales, million RUR||51779.25||38472.95||34.59%|
|Net retail sales, million US$||1684.38||1223.11||37.71%|
4Q and 12M 2012 Key Operating and Financial Highlights:
|4Q 2012||4Q 2011||Growth Rate||12M 2012||12M 2011||Growth Rate|
|Number of opened stores, NET||765||542||n/a||1575||1254||n/a|
|Total number of stores||6884||5309||n/a||6884||5309||n/a|
|Selling space, thousand sq. m.||2549.26||1970.16||29.39%||2549.26||1970.16||29.39%|
|Number of customers, million||549.44||445.77||23.26%||2033.43||1644.43||23.66%|
|Net retail sales, million RUR||129153.84||95500.24||35.24%||448486.2||335607.39||33.63%|
|Net retail sales, million US$||4155.97||3057.93||35.91%||14424.02||11420.11||26.3%|
|LFL growth 4Q 2012 - 4Q 2011||Convenience stores||Hypermarkets||Total|
|Average ticket (excluding VAT), RUR||7.6%||6.19%||7.83%|
|LFL growth 12M 2012 to 12M 2011||Convenience stores||Hypermarkets||Total|
|Average ticket (excluding VAT), RUR||5.73%||3.23%||5.63%|
Headquartered in the southern Russia city of Krasnodar, Magnit (LSE
and MICEX: MGNT) 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 December 31, 2012 the
chain consisted of 6,046 convenience stores, 126 hypermarkets, 20 "Magnit
Family" stores and 692 cosmetics stores (drogerie) in 1,605 cities and towns
throughout the Russian Federation.
Approximately two-thirds of the Magnit'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 December 31, 2012 Magnit operated an in-house logistics
system consisting of 18 distribution centers, employing automated stock
replenishment systems and a fleet of 4,401 vehicles.
In accordance with the reviewed IFRS consolidated financial
statements for 1H 2012, the Magnit recorded consolidated revenues of
approximately $6.7 billion USD and a consolidated EBITDA of $671 million USD.
Original source: http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=11452595
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