OREANDA-NEWS. January 12, 2012. OJSC "Magnit" (the "Company"; MICEX and LSE: MGNT) is pleased to announce its unaudited December 2011 results.

During 12M 2011 the Company opened (net) 1,254 stores. The total store base reached 5,309 stores (5,006 convenience stores, 93 hypermarkets and 210 cosmetics stores). Preliminary consolidated unaudited net retail revenue (excl. VAT) in 12M 2011 increased by 42.12% in ruble terms (compared to 12M 2010) and stood at 335,607.39 million rubles.

In order to evaluate the growth rate of sales of 12M 2011 to 12M 2010 objectively it is useful to take into account the level of food inflation which directly affects the growth rates in the comparison periods. Thus, food inflation in 2011 amounted to 3.9% vs. 12.9% in 2010.

December 2011 Key Operating and Financial Highlights:

 

December 2011

December 2010

Growth Rate

12M 2011

12M 2010

Growth Rate

 

Number of opened stores, NET

286

189

n/a

1,254

827

n/a

 

convenience stores

223

175

n/a

1,004

798

n/a

 

hypermarkets

13

12

n/a

42

27

n/a

 

cosmetics stores

50

2

n/a

208

2

n/a

 

Total number of stores

5,309

4,055

n/a

5,309

4,055

n/a

 

convenience stores

5,006

4,002

n/a

5,006

4,002

n/a

 

hypermarkets

93

51

n/a

93

51

n/a

 

cosmetics stores

210

2

n/a

210

2

n/a

 

Selling space, thousand sq. m.

1,970.16

1,422.38

38.51%

1,970.16

1,422.38

38.51%

 

convenience stores

1,637.83

1,256.85

30.31%

1,637.83

1,256.85

30.31%

 

hypermarkets

282.24

165.08

70.97%

282.24

165.08

70.97%

 

cosmetics stores

50.09

0.45

n/a

50.09

0.45

n/a

 

Number of customers, million

162.30

130.62

24.25%

1,644.43

1,301.90

26.31%

 

convenience stores

149.90

124.66

20.25%

1,550.27

1,256.66

23.36%

 

hypermarkets

11.02

5.95

85.18%

90.17

45.24

99.33%

 

cosmetics stores

1.37

0.01

n/a

3.98

0,01

n/a

 

Net retail sales, million RUR

38,472.95

28,685.25

34.12%

335,607.39

236,137.90

42.12%

convenience stores

31,254.32

24,973.07

25.15%

287,731.79

212,311.59

35.52%

hypermarkets

6,872.08

3,710.75

85.19%

46,982.78

23,824.88

97.20%

cosmetics stores

346.55

1.43

n/a

892.82

1.43

n/a

Net retail sales, million US\\$

1,223.11

929.72

31.56%

11,420.11

7,775.57

46.87%

convenience stores

993.62

809.40

22.76%

9,790.99

6,991.02

40.05%

hypermarkets

218.47

120.27

81.65%

1,598.74

784.51

103.79%

cosmetics stores

11.02

0.05

n/a

30.38

0.05

n/a

LFL Results

LFL growth 12M 2011 - 12M 2010

Convenience stores

Hypermarkets

Total

Average ticket (excluding VAT), RUR

10.17%

5.26%

9.67%

Traffic

1.29%

1.32%

1.29%

Revenue, RUR

11.59%

6.65%

11.09%

LFL growth 4Q 2011 - 4Q 2010

Convenience stores

Hypermarkets

Total

Average ticket (excluding VAT), RUR

5.00%

4.14%

5.14%

Traffic

(2.03)%

1.25%

(1.93)%

Revenue, RUR

2.87%

5.45%

3.12%