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OJSC MAGNIT: March/3M 2013 Results

Press-release 
Krasnodar 
April 10, 2013 
OJSC "Magnit" Announces 33% Retail Sales Growth in Rubles for March 2013[1] 
Krasnodar, April 10, 2013: OJSC "Magnit" (the "Company"; MICEX and
LSE: MGNT) announces 33% retail sales growth in rubles for March 2013 
During March 2013 the Company opened (net) 80 stores. The total
store base reached 7,075 stores (6,209 convenience stores, 132 hypermarkets,
21 "Magnit Family" stores and 713 cosmetics stores). 
Preliminary consolidated unaudited net retail revenue (excl. VAT)
in 3M 2013 increased by 30.44% in ruble terms (compared to 3M 2012) and stood
at 131,217.87 million rubles. 
As has been noted previously, the month of February 2012 occurred during a
"leap year" and thus, there were 29 days (i.e. an extra day). February 2013,
on the other hand, occurred during a "normal year" in which there were only 28
days. 
This very same "leap year" effect/adjustment should also be calculated when
one makes the comparison between 3M 2012 numbers vs. 3M 2013 numbers. 
Therefore, in order to fairly compare the 3M 2012 results to the 3M 2011
results an amount of 1.47% should be subtracted for the 3M 2012, which would
then equal 32.60%. To compare the 3M 2013 results with the 3M 2012 results
correctly, an amount of 1.45% should be added, which would then equal 31.89%. 
---------------------------------
[1] According to management accounts 
March 2013 Key Operating and Financial Highlights: 


                                         March         March          Growth    
       3М          3М          Growth
                                          2013          2012            Rate    


 2013        2012            Rate
Number of opened stores, NET                80            86             n/a     


      191         157             n/a
              convenience stores            70            57             n/a    
      163          98             n/a
                    hypermarkets             4             1             n/a    
        6           1             n/a
                   magnit family             0             2             n/a    
        1           2             n/a
                cosmetics stores             6            26             n/a    


   21          56             n/a 
Total number of stores                   7,075         5,466             n/a     


    7,075       5,466             n/a
              convenience stores         6,209         5,104             n/a    
    6,209       5,104             n/a
                    hypermarkets           132            91             n/a    
      132          91             n/a
                   magnit family            21             5             n/a    
       21           5             n/a
                cosmetics stores           713           266             n/a    


  713         266             n/a 
Selling space, thousand sq. m.        2,629.88      2,024.90          29.88%    
 2,629.88    2,024.90          29.88% 
          convenience stores      2,030.20      1,673.48          21.32%    
 2,030.20    1,673.48          21.32% 
                hypermarkets        407.46        282.10          44.44%     
407.46      282.10          44.44% 


                   magnit family         25.81          6.20             n/a    
    25.81        6.20             n/a


            cosmetics stores        166.41         63.12             n/a     
166.41       63.12             n/a 
Number of customers, million            202.41        165.47          22.32%     
563.01      462.04          21.85% 
          convenience stores        181.07        152.72          18.56%     
505.46      427.82          18.15% 


                    hypermarkets         15.55         10.84          43.52%    
    42.13       29.39          43.32%
                   magnit family          2.07          0.34             n/a    
     5.58        0.87             n/a
                cosmetics stores          3.72          1.57             n/a    


 9.85        3.96             n/a 
Net retail sales, million RUR        48,051.12     36,178.18          32.82%   
131,217.87  100,593.43          30.44% 
          convenience stores     37,801.71     29,830.35          26.72%   
104,145.23   83,658.79          24.49% 
                hypermarkets      8,573.74      5,846.73          46.64%    
22,670.89   15.680.27          44.58% 
               magnit family        729.71        116.76             n/a    
 1,935.79      301.57             n/a 
            cosmetics stores        945.96        384.33             n/a    
 2,465.97      952.80             n/a 
Net retail sales, million US$[2]      1,560.17      1,231.90          26.65%    
 4,314.36    3,323.84          29.80% 
          convenience stores      1,227.38      1,015.75          20.83%    
 3,424.23    2,764.28          23.87% 
                hypermarkets        278.38        199.09          39.83%     
745.40      518.11          43.87% 


                   magnit family         23.69          3.98             n/a    
    63.65        9.96             n/a
                cosmetics stores         30.71         13.09             n/a    
    81.08       31.48             n/a

---------------------------------
[2] Based on the average exchange rate for March 2013 of 30.7987
RUB per 1 USD, March 2012 - 29.3678 RUB per 1 USD, 3M 2013 - 30.4142 RUB per 1
USD, 3M 2012 - 30.2642 RUB per 1 USD


LFL results

LFL growth 1Q 2013 - 1Q 2012[3]                            Convenience          
  Hypermarkets                   Total


                                                            stores
Average ticket (excluding VAT), RUR                              5.31%           
     3.19%                   5.42%
Traffic                                                        (0.80)%           
     3.77%                 (0.55)%
Revenue, RUR                                                     4.46%           
     7.08%                   4.83% 
For further information, please contact: 
Timothy Post                                                Director, Investor 
Relations 
                                                        e-mail: 
Post@gw.tander.ru 
                                                        Tel. in Krasnodar 
+7 (861) 277-45-54, 210-98-10 ext. 7600 
                                                        Mob.: +7 (961) 511-76-78 
                                                        Direct line for 
investors only: +7 (861) 277-45-62 
Dina Svishcheva                                             Deputy Director, 
Investor Relations 
                                                        e-mail: 
Chistyak@gw.tander.ru 
                                                        Tel. in Krasnodar 
+7 (861) 277-45-54, 210-98-10 ext. 5101 
                                                        Mob.: +7-961-511-02-02 
                                                        Direct line for 
investors only: +7 (861) 277-45-62 
Company description: 
Headquartered in the southern Russia city of Krasnodar, Magnit (LSE
and MICEX: MGNT, S&P: "BB") 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
March 31, 2013 the chain consisted of 6,209 convenience stores, 132
hypermarkets, 21 "Magnit Family" stores and 713 cosmetics stores (drogerie) in
1,647 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 March 31, 2013 Magnit operated an in-house logistics system
consisting of 18 distribution centers, employing automated stock replenishment
systems and a fleet of 4,448 vehicles. 
In accordance with the audited IFRS consolidated financial
statements for 2012, Magnit recorded consolidated revenues of approximately
$14,430 million USD and a consolidated EBITDA of $1,524 million USD. 
---------------------------------
[3] Based on 4,087 convenience stores which were opened by July 1,
2011, and 60 hypermarkets which were opened by May 1, 2011, i.e. based on the
result of the convenience stores that had been operating for not less than six
months and hypermarkets that had been operating for not less than eight months
and have achieved a mature level of sales 
END 
-0- Apr/10/2013 06:00 GMT