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Magnit reaches a mark of fifty thousand online orders a day

09/28/2021 | 03:01am EDT

MAGNIT PJSC (MGNT) Magnit reaches a mark of fifty thousand online orders a day 28-Sep-2021 / 10:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.


Magnit Reaches a Mark of Fifty Thousand Online Orders a Day

Krasnodar, Russia (September 28, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, has reached a mark of 50 thousand online orders a day.

The record-breaking number of orders was achieved on September 26, 2021. The "milestone" was the purchase in Moscow, amounting to RUB 1,974. As of the end of June, Magnit processed only 15 thousand orders a day. The total coverage of the chain's e-commerce services is over 2,000 outlets in 62 regions and 106 cities. Sixty one percent of the online delivery projects' revenue comes from outside Moscow and St. Petersburg.

The number of orders is exploding by an average of 6-7% each week as of the last 3 months. The order average ticket was RUB 1,200 at the end of Q2, which was approximately 3-4 times higher than the same indicator in convenience stores (RUB 353 in Q2 2021). The highest sales and the most dynamic growth are shown by the express delivery segment where orders are fulfilled within one hour.

Magnit started testing e-commerce services in second half of last year both in-house and in partnership with Yandex. Eda, Delivery Club, Sbermarket and Wildberries. The Company's own service available in Magnit Dostavka [Magnit Delivery] app was launched in November 2020 and is operating in 63 localities. Since the beginning of the year, the Company has opened 11 mini dark stores (outlets fulfilling online orders only) in Moscow to support the development of its online services. By the end of the year, Magnit plans to bring the total number of dark stores in the capital to 20.

By the end of 2021, Magnit's e-commerce services are expected to cover more than 4,000 stores across all formats.

Lukashevich   "In a fairly short time, we've managed to achieve good results in e-commerce. Back in December 2020, the 
              daily number of orders was at 7,000, and by September of this year we had already increased this figure 
Director of   more than sixfold. We see the main growth in those regions, where the competition is not as high as in 
E-Commerce at Moscow and St. Petersburg. As a result of that, we've managed to take the lead in many regions quite 
Magnit        quickly. Today we're actively scaling our cost-efficient partnerships with the leading players in the 
              foodtech market, while paying a lot of attention to the development of our own delivery service as well." 
              For further information, please contact: 
              Dina Chistyak 
              Head of Investor Relations 
              Office: +7 (861) 210 9810 x 15101 
              Media Inquiries                    Twitter 
              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 June 30, 2021, Magnit operated 39 
              distribution centers and 22,344 stores (15,348 convenience, 469 supermarkets and 6,527 drogerie stores) 
              in 3,802 cities and towns throughout 7 federal regions of the Russian Federation. 
              In accordance with the unaudited IFRS 16 management accounts results for 1H 2021, Magnit had revenues of 
              RUB 822.2 billion and an EBITDA of RUB 94.4 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/or 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.:   123063 
EQS News ID:    1236359 
End of Announcement  EQS News Service 

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1236359&application_name=news

(END) Dow Jones Newswires

September 28, 2021 03:00 ET (07:00 GMT)

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