OREANDA-NEWS. December 1, 2011. OJSC "Magnit" (the "Company"; RTS, MICEX and LSE: MGNT) is pleased to announce its unaudited November 2011 results1

During 11M 2011 the Company opened (net) 968 stores. The total store base reached 5,023 stores (4,783 convenience stores, 80 hypermarkets and 160 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 11M 2011 increased by 43.23% in ruble terms (compared to 11M 2010) and stood at 297,134.44 million rubles.

Sergey Galitskiy, the Company's CEO, provided the following comments on the published results:

"Despite lower food inflation in 2011 vs. 2010 (October 2010 - 9.1%, November 2010 - 10.6%, October 2011 - 2.7% (year to date)2) we see positive dynamics of sales growth rate in November this year vs. October."

November 2011 Key Operating and Financial Highlights:

 

November 2011

November 2010

Growth Rate

11M 2011

11M 2010

Growth Rate

 

Number of opened stores, NET

153

86

n/a

968

638

n/a

 

convenience stores

108

82

n/a

781

623

n/a

 

hypermarkets

3

4

n/a

29

15

n/a

 

cosmetics stores

42

-

n/a

158

-

n/a

 

 

 

Total number of stores

5,023

3,866

n/a

5,023

3,866

n/a

 

convenience stores

4,783

3,827

n/a

4,783

3,827

n/a

 

hypermarkets

80

39

n/a

80

39

n/a

 

cosmetics stores

160

-

n/a

160

-

n/a

 

 

 

Selling space, thousand sq. m.

1,839.29

1,320.29

39.31%

1,839.29

1,320.29

39.31%

 

convenience stores

1,558.54

1,193.38

30.60%

1,558.54

1,193.38

30.60%

 

hypermarkets

243.71

126.91

92.03%

243.71

126.91

92.03%

 

cosmetics stores

37.04

-

n/a

37.04

-

n/a

 

 

 

Net retail sales, million RUR

28,855.88

21,675.66

33.13%

297,134.44

207,452.65

43.23%

 

convenience stores

24,474.98

19,475.94

25.67%

256,477.47

187,338.52

36.91%

 

hypermarkets

4,225.43

2,199.72

92.09%

40,110.71

20,114.13

99.42%

 

cosmetics stores

155.47

-

n/a

546.27

-

n/a

 

Net retail sales, million USD 3

934.99

699.93

33.58%

10,177.41

6,841.16

48.77%

convenience stores

793.04

628.90

26.10%

8,784.83

6,177.86

42.20%

hypermarkets

136.91

71.03

92.75%

1,373.87

663.30

107.12%

cosmetics stores

5.04

-

n/a

18.71

-

n/a