OJSC MAGNIT: Magnit Opens a New Distribution Center
February 7, 2014
OJSC "Magnit" Announces the Opening of a New Distribution Center
Krasnodar, February 7, 2014: OJSC "Magnit", Russia's largest retailer (the "Company"; MICEX and LSE: MGNT) announces the opening of a new distribution center in Voronezh.
Please be informed that the Company has opened a new distribution center (DC) in Voronezh. Total space of the warehouse is about 40 thousand sq. m. Launch of the new distribution facility will improve the quality of service in the Central region.
"Magnit" operates 23 distribution centers with their total capacity of about 674,249 sq. m.
For further information, please contact:
Timothy Post Director, Investor Relations
Email: email@example.com 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: +7-861-277-45-54 x5101 Mobile: +7-961-511-0202 Direct Line: +7-861-277-4562 Company description: Magnit is Russia's largest retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2013, Magnit operated 22 distribution centers and over 8,000 stores (7,200 convenience, 207 hypermarkets, and 686 cosmetics) in more than 1,868 cities and towns throughout 7 federal regions of the Russian Federation. In accordance with the unaudited IFRS management accounts 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 now Europe's 2nd largest retailer. END -0- Feb/07/2014 07:00 GMT