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Earnings Release • Jan 27, 2017
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Earnings Release
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PJSC MAGNIT - Magnit FY2017 Guidance Announcement
PR Newswire
London, January 27
Press Release
Krasnodar
January 27, 2017
Magnit Announces Guidance for 2017
Krasnodar, January 27, 2017: Magnit PJSC, one of Russia’s leading retailers (MOEX and LSE: MGNT), announces guidance for 2017.
Magnit announces Sales Growth and Store Openings Guidance for 2017:
| 2017 | |
| Sales Growth Rate (RUR): | 9-13% |
| Number of Store Openings (Net): | |
| Convenience Stores | 1,700 |
| Hypermarkets | 15+ |
| Magnit Family | 25+ |
| Drogerie Stores | 1,000 |
Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.
For further information, please contact:
| Timothy Post | Head of Investor Relations Email: [email protected] Office: +7-861-277-4554 x 17600 |
| Investor Relations Office | [email protected] Direct Line: +7-861-277-4562 Website: ir.magnit.com/ |
| Media Inquiries | Media Relations Department [email protected] |
Company description:
Public Joint Stock Company “Magnit” is one of Russia's leading retailers. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of December 31, 2016, Magnit operated 35 distribution centers and 14,059 stores (10,521 convenience, 431 hypermarkets and 3,107 drogerie stores) in 2,494 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 2016, Magnit had revenues of RUB 1.07 trillion and an EBITDA of RUB 108 billion. Magnit's local shares are traded on the Moscow 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.
Forward-looking statements:
This document contains forward-looking statements that may or may not prove accurate. For example, statements regarding expected sales growth rate and store openings are forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause actual results to differ materially from what is expressed or implied by the statements. Any forward-looking statement is based on information available to Magnit as of the date of the statement. All written or oral forward-looking statements attributable to Magnit are qualified by this caution. Magnit does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances.
