Source - PRN

Press Release


September 6, 2016

Magnit Announces the Holding of a Joint Session with Suppliers in the Volgograd Region

Krasnodar, Russia (September 6, 2016): Magnit PJSC, one of Russia’s leading retailers (MOEX & LSE: MGNT), announces the holding of a joint session with food and FMCG suppliers in the Volgograd Region.

On Monday, September 5, 2016, Magnit’s executives, with the support of Volgograd Regional Administration, held a joint session for suppliers from the area. More than 70 regional suppliers took part in the session and all participants received information on numerous topics, including Magnit’s operations, its corporate principles, and the advantages of working with one of Russia’s leading retailers. Additionally, the suppliers received detailed information on Magnit’s supplier selection criteria and the procedures it uses to execute agreements.

A number of the participating Volgograd suppliers shared with their peers experiences of successfully working with Magnit in a win-win partnership. Some suppliers even set-up a tasting exhibit where they offered attendees an opportunity to try their products, which included dairy, bakery, and confectionery goods, as well as, grits, vegetables, and non-alcohol drinks.

Magnit continually seeks to work collaboratively and in partnership with its domestic suppliers; and joint sessions, such as the one in Volgograd, help to contribute to the important goal of building positive and open lines of communication with all current and future suppliers.

For further information, please contact:

Timothy Post Head of Investor Relations
Email: [email protected]
Office: +7-861-277-4554 x 17600
Mobile: +7-961-511-7678
Direct Line: +7-861-277-4562
Investor Relations Office [email protected]
Direct Line: +7-861-277-4562
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 June 30, 2016, Magnit operated 34 distribution centers and 12,888 stores (9,902 convenience, 398 hypermarkets and 2,588 drogerie stores) in 2,397 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2016, Magnit had revenues of RUB 522 billion and an EBITDA of RUB 52 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.