14 Dec 2015 09:28
PJSC MAGNIT - Opening of a New Distribution CenterPJSC MAGNIT - Opening of a New Distribution Center
PR Newswire
London, December 14
Press-release
Krasnodar
December 14, 2015
PJSC “Magnit” Announces the Opening of a New Distribution Center
Krasnodar, December 14, 2015: PJSC “Magnit”, Russia’s largest food retailer (the “Company”; MOEX and LSE: MGNT) announces the opening of a new distribution center in Astrakhan.
Please be informed that the Company opened a new distribution center (DC) in Astrakhan. Total space of the warehouse is over 33 thousand sq. m. Launch of the new distribution facility will improve the quality of service in the Southern region.
“Magnit” operates 33 distribution centers with their total capacity of 1,288 thousand sq. m.
For further information, please contact:
| Timothy Post | Head of Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600 Mobile: +7-961-511-7678 Direct Line: +7-861-277-4562 |
| Investor Relations Office | MagnitIR@magnit.ru Direct Line: +7-861-277-4562 Website: ir.magnit.com/ |
| Media Inquiries | Media Relations Department press@magnit.ru |
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, 2015, Magnit operated 29 distribution centers and about 11,400 stores (9,246 convenience, 335 hypermarkets, and 1,807 drogerie stores) in 2,297 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2015, Magnit had revenues of RUB 455 billion and an EBITDA of RUB 49 billion. Magnit's local shares are traded on the Moscow Stock Exchange (MOEX: 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.
MGNT.L (MGNT)