OREANDA-NEWS. OJSC “Magnit”, Russia’s largest retailer (the “Company”; MICEX and LSE: MGNT), updates guidance for 2013.

Based on the analysis of sales of the first eight months and first half of September this year the management of the Company updates guidance for 2013 and issues preliminary guidance for 2014 as follows:

2013

2014 (preliminary)

Sales growth in RUR:

29-30%

25%

EBITDA margin:

in line with FY 2012

-

CAPEX, USD bn

1.6-1.7

1.7-1.8

Number of store openings, net

- convenience stores

1,100

1,000

- hypermarkets and “Magnit Family”

60-65

80

- cosmetics stores

0

350

Guidance for 2014 is subject to change in the end of October - November 2012 after the publication of 9M 2013 financial results.

Magnit is Russia’s largest retailer. Founded in 1994 by Sergey Galitskiy, the company is headquartered in the southern Russian city of Krasnodar. As of June 30, 2013, Magnit operates 18 distribution centers and over 7,000 stores (6,552 convenience, 164 hypermarkets, and 700 cosmetics) in more than 1,700 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2013, Magnit had revenues of USD 8,796 million USD and an EBITDA of USD 890 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.