Russia’s largest retailer OJSC “Magnit” opened its 140th Hypermarket

Krasnodar, 18-7-2013 — /europawire.eu/ — OJSC “Magnit”, Russia’s largest retailer (the “Company”; MICEX and LSE: MGNT), is pleased to announce the opening of the 140th hypermarket of a medium format.

Please be informed that today the Company has opened its 140th hypermarket of a medium format located at 2, Vinogradniy lane, Sochi, Krasnodar region, Southern federal district. Assortment of the hypermarket consists of more than 11,200 SKUs, out of which about 67% are food items. There are 23 cash desks installed in the sales area. The outlet is owned by the Company. The hypermarket is open 7 days a week from 9 am to 11 pm.

For further information, please contact:
Timothy Post
Director, Investor Relations
Email: post@gw.tander.ru
Office: +7-861-277-4554 x7600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562

Dina Svishcheva
Deputy Director, Investor Relations
Email: Chistyak@gw.tander.ru
Office: +7-861-277-4554 x5101
Mobile: +7-961-511-0202
Direct Line: +7-861-277-4562

Company description:
Magnit is Russia’s largest retailer. Founded in 1994 by Sergey Galitskiy, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,552 convenience, 164 hypermarkets, and 700 cosmetics) in more than 1,700 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with its audited IFRS consolidated financial statements for year-end 2012, Magnit had revenues of $14.43 billion USD and an EBITDA of $1.52 billion 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.