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Magnit
Earnings Release • Oct 20, 2017
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Earnings Release
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MAGNIT PJSC (MGNT)
MAGNIT PJSC: Magnit 2017 Guidance Update
20-Oct-2017 / 15:01 CET/CEST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
Press Release
Krasnodar
October 20, 2017
PJSC "Magnit" Updates Guidance for 2017
Krasnodar, Russia (October 20, 2017): Magnit PJSC, one of Russia's leading retailers (MOEX and LSE: MGNT), updates guidance for 2017.
Based on the analysis of sales for 9M this year the management of the Company updates guidance for 2017:
| Sales Growth in RUR: | 8-10% | |
| Number of Store Openings, net | Gross Openings | Net openings |
| - Convenience stores | 2 100 | 2 000+ |
| - Hypermarkets and Magnit Family | 39 | 21 |
| - Cosmetics stores | 800 | 670 |
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 |
| Dina Svishcheva | Deputy Director, Investor Relations Email: [email protected] Office: +7-861-277-4554 x 15101 |
| 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 September 30, 2017, Magnit operated 36 distribution centers and 15,697 stores (11,743 convenience, 432 hypermarkets and 3,522 drogerie stores) in 2,664 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2017, Magnit had revenues of RUB 555 billion and an EBITDA of RUB 49 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.
| ISIN: | US55953Q2021 |
| Category Code: | MSCU |
| TIDM: | MGNT |
| LEI Code: | 2534009KKPTVL99W2Y12 |
| OAM Categories: | 2.2. Inside information |
| Sequence No.: | 4768 |
| End of Announcement | EQS News Service |
620969 20-Oct-2017