Magnit is one of Russia's leading retailers.
Founded in 1994, Magnit has its corporate headquarters in the Russian city of Krasnodar. The company operates 3 types of retail-store formats serving Russian families throughout all of Russia (excluding the Far East & Kaliningrad). Approximately two-thirds of the stores are located in cities and towns with a population of less than 500,000 residents.
As of September 30, 2019, Magnit operated 20,497 Retail Stores (14,507 Convenience, 467 Supermarkets and 5,523 Drogerie stores) in 3,694 cities, towns, and villages throughout 7 of the federal regions in the Russian Federation. The Magnit retail-store network is supported logistically by 38 Distribution Centers and 5,776 Trucks. Magnit is one of Russia's largest employers with about 300,000 employees.
In accordance with the unaudited IFRS managment accounts for 9M 2019, Magnit had revenues of RUB 1,000 billion and an EBITDA of RUB 63 billion. Magnit's local shares are traded on the Moscow Stock Exchange (MICEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT). Magnit has a credit rating from Standard & Poor's of BB. Measured by number of stores, Magnit is one of the largest retailers in Europe.
Please watch the following video for a short profile of Magnit:
Video Produced by Mojo Film (Sweden) in 2013