OREANDA-NEWS. PJSC "Magnit", Russia's largest food retailer (the "Company"; MICEX and LSE: MGNT),updates guidance for 2014.

Based on the analysis of sales of the nine months and the first half of October this year the management of the Company updates guidance for 2014:

Ѓ@

2014 (original)

2014 (updated on July 23, 2014)

2014 (new)

Sales growth in RUR:

22 - 24%

26 - 29%

31 - 32%

EBITDA margin:

10.2 - 10.7%

10.6 - 10.9%

11.2 - 11.4%

CAPEX, USD bn

1.7 -1.8

unchanged

unchanged

Magnit is Russia's largest food retailer. Founded in 1994, the company is headquartered in the southern Russian city of Krasnodar. As of September 30, 2014, Magnit operated 25 distribution centers and over 9,020 stores (7,891 convenience, 243 hypermarkets, and 886 drogerie stores) in approximately 2,000 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2014, Magnit had revenues of USD 9,979 million USD and an EBITDA of USD 1,045 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 one of the largest retailers in Europe.