Based in Krasnodar, a southern region of Russia, Magnit Open Joint Stock Company is the holding company for a group of entities that operate in the retail trade sector under the Magnit brand. The chain of Magnit stores is one of the leading food retail networks in Russia. As of September 30, 2011 the chain consisted of 4,593 convenience stores, 76 hypermarkets and 98 cosmetics stores (drogerie) in 1,325 locations in the Russian Federation.

Approximately two-thirds of the company’s stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga Federal Districts. The Company also operates stores in the North-Western, Urals and Siberian Federal Districts.

As of September 30, 2011 the company operated an in-house logistics system consisting of 14 distribution centres, employing automated stock replenishment systems and a fleet of 3,705 vehicles.

In accordance with the unaudited IFRS consolidated financial statements for 1H 2011, the company recorded consolidated revenue of approximately $5,471 million and consolidated EBITDA of around $359 million.

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