OJSC MAGNIT - Magnit Opens a New Distribution Center
24 July 2014 - 4:00PM
PR Newswire (US)
Press-release
Krasnodar
July 24, 2014
OJSC "Magnit" Announces the Opening of a New Distribution Center
Krasnodar, July 24, 2014: OJSC "Magnit", Russia's largest food retailer (the
"Company"; MICEX and LSE: MGNT) announces the opening of a new distribution
center in Kolpino.
Please be informed that the Company has opened a new distribution center (DC)
in Kolpino (Saint Petersburg). Total space of the warehouse is about 50,800 sq.
m. Launch of the new distribution facility will improve the quality of service
in the North-Western region.
"Magnit" operates 25 distribution centers with their total capacity of about
758,270 sq. m.
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 June 30, 2014,
Magnit operated 24 distribution centers and over 8,600 stores (7,614
convenience, 226 hypermarkets, and 778 cosmetics) in approximately 2,000 cities
and towns throughout 7 federal regions of the Russian Federation.
In accordance with the audited IFRS consolidated financial statements 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 one
of the largest retailers in Europe.
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