15 Aug 2017 11:52
PJSC MAGNIT - Magnit Included in the Most Innovative Companies RankingPJSC MAGNIT - Magnit Included in the Most Innovative Companies Ranking
PR Newswire
London, August 15
Press Release
Krasnodar
August 15, 2017
Magnit Has Been Included in the World’s Most Innovative Companies Ranking by Forbes
Krasnodar, August 15, 2017: “Magnit” PJSC, one of Russia’s leading retailers (MOEX and LSE: MGNT), has been included in the 100 World’s Most Innovative Companies Ranking by the American edition of the Forbes business magazine.
Please be informed that “Magnit” retail chain was ranked 53rd in the 100 World’s Most Innovative Companies List by the American edition of the Forbes business magazine.
Forbes compiles the ranking relying on investors’ ability to identify companies they expect to be innovative now and in the future.
The main criterion of the assessment is “innovation premium”: the difference between the market capitalization of companies and a net present value of cash flows from existing businesses (based on a proprietary formula from Credit Suisse HOLT). The “Magnit” innovation premium amounts to 46.81%.
To be included in the ranking, companies need seven years of public financial data and $10 billion in market capitalization.
Please follow the link below to view the full list of companies included in the ranking:
https://www.forbes.com/innovative-companies/list/#tab:rank
For further information, please contact:
| Timothy Post | Head of Investor Relations Email: post@magnit.ru Office: +7-861-277-4554 x 17600 |
| Dina Svishcheva | Deputy Director, Investor Relations Email: Chistyak@magnit.ru Office: +7-861-277-4554 x 15101 |
| Media Inquiries | Media Relations Department press@magnit.ru |
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, 2017, Magnit operated 35 distribution centers and 14,844 stores (11,114 convenience, 430 hypermarkets and 3,300 drogerie stores) in 2,567 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the unaudited IFRS management accounts for 1H 2017, Magnit had revenues of RUB 555 billion and an EBITDA of RUB 49 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.