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Magnit Enters the Dagestan Market

03/18/2021 | 06:31am EDT
MAGNIT PJSC (MGNT) 
Magnit Enters the Dagestan Market 
18-March-2021 / 14:30 MSK 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
Press-release | Krasnodar | March 18, 2021. 
 
Magnit Enters the Dagestan Market 
 
Krasnodar, Russia (March 18, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading 
retailers, and the Government of the Republic of Dagestan signed a cooperation agreement under which the Company plans 
to open around 180 stores in the region in the next three years. The document was signed by Abdulpatakh Amirkhanov, 
Chairman of the Government of the Republic of Dagestan, and Jan Dunning, President and CEO of Magnit, in the presence 
of Sergey Melikov, Acting Head of the Republic of Dagestan. Magnit is to become the first federal food retailer in the 
Republic. 
The amount of investments in the development of the chain in Dagestan will amount to over RUB 2 bn. In the next five 
years, Magnit plans to open about 120 convenience and about 60 Magnit Cosmetic stores in the Republic. The Company 
plans to create over 2,000 new skilled jobs in the region. The Republic will become the 67th region of the retailer's 
presence. 
Special attention in the agreement is paid to the development of small and medium-sized enterprises in Dagestan, 
including the launch of the products thereof on the shelves of the Company's stores. It is expected that Magnit will 
actively cooperate with local producers, which will increase the demand for local goods and the recognition of Dagestan 
brands not only in the Republic, but across the federal geography. Magnit plans to hold trainings where specialists 
will be able to answer the relevant questions from manufactures regarding working with the chain and provide help in 
solving various issues. 
The first Magnit store is planned to open in July this year in the capital of the region, Makhachkala. Then the stores 
will appear in the cities of Derbent, Kaspiysk, Izberbash and Dagestanskiye Ogni. 
"We are truly interested in Dagestan. We believe that the region has great potential for the development of modern 
retail formats. We plan to open the stores of our two most popular formats in the Republic, namely Magnit Convenience 
and Magnit Cosmetic. They combine convenient location, wide assortment for everyday shopping and high service 
standards. In addition, we are interested in having high-quality goods from Dagestan manufacturers on our shelves, so 
we will do our best for their promotion, including outside the region", - commented Jan Dunning, President and CEO of 
Magnit. 
 
 
For further information, please contact: 
 
 
Dmitry Kovalenko 
Director for Investor Relations 
Email: dmitry_kovalenko@magnit.ru 
Office: +7 (861) 210-48-80 
 
 
Dina Chistyak 
Director for Investor Relations 
Email: dina_chistyak@magnit.ru 
Office: +7 (861) 210-9810 x 15101 
 
 
Media Inquiries     Twitter 
Email: press@magnit.ru    @MagnitIR 
 
 
Note to editors: 
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 December 31, 2020, Magnit operated 38 distribution centres and 21,564 
stores (14,911 convenience, 470 supermarkets and 6,183 drogerie stores) in 3,752 cities and towns throughout 7 federal 
regions of the Russian Federation. 
In accordance with the audited IFRS 16 results for FY 2020, Magnit had revenues of RUB 1,553.8 billion and an EBITDA of 
RUB 178.2 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. 
 
Forward-looking statements: 
This document contains or may contain forward-looking statements that may or may not prove accurate. For example, 
statements regarding expected sales growth rate and store openings are forward-looking statements. Forward-looking 
statements involve known and unknown risks, uncertainties and other important factors that could cause actual results 
to differ materially from what is expressed or implied by the statements. Any forward-looking statement is based on 
information available to Magnit as of the date of the statement. All written or oral forward-looking statements 
attributable to Magnit are qualified by this caution. Magnit does not undertake any obligation to update or revise any 
forward-looking statement to reflect any change in circumstances. 
 
=---------------------------------------------------------------------------------------------------------------------- 
ISIN:           US55953Q2021 
Category Code:  MSCU 
TIDM:           MGNT 
LEI Code:       2534009KKPTVL99W2Y12 
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State 
Sequence No.:   95842 
EQS News ID:    1176654 
 
End of Announcement  EQS News Service 
=------------------------------------------------------------------------------------ 
 

(END) Dow Jones Newswires

March 18, 2021 07:30 ET (11:30 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
LONDON STOCK EXCHANGE PLC 0.05% 7318 Delayed Quote.-18.81%
PUBLIC JOINT STOCK COMPANY MAGNIT 1.47% 5272 End-of-day quote.-6.99%
RTS INDEX 0.72% 1635.57 Real-time Quote.16.16%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.48% 73.0814 Delayed Quote.-0.12%
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