5 Oct 2020 13:00
MAGNIT PJSC (MGNT) MAGNIT PJSC: Magnit joins the UN Global Compact and affirms 'Retail with Purpose' strategy for sustainable transformation 05-Oct-2020 / 15:00 MSK Dissemination of a Regulatory Announcement, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. Press Release | Krasnodar | October 5, 2020 Magnit joins the UN Global Compact and affirms "Retail with Purpose" strategy for sustainable transformation Krasnodar, October 5, 2020: Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia's leading retailers, is delighted to announce that it has joined the UN Global Compact (UNGC), the world's largest corporate sustainability initiative, including over 13,000 participants from more than 160 countries. By becoming a signatory of the UNGC, Magnit has committed to implementing and promoting its ten principles in support of human rights, labour rights, the environment and anti-corruption. Magnit has already begun taking meaningful strategic actions to advance societal goals and shape a more sustainable future with the launch earlier this year of its pioneering five-year Retail with Purpose sustainability strategy. The Company's ambitious targets include: Environment: 30% greenhouse emissions reduction; 25% reduction of water and energy consumption; 50% food waste reduction; 50% private labels and own production packaging are recyclable, reusable or compostable; 100% recyclable plastics in own operations are recovered and recycled.Sustainable sourcing: Responsible sourcing for commercial and non-commercial purchases; 100% responsible sourcing for socially important product categories; 100% responsible own production and agriculture; Increase of green packaging; Development and partnership programmes for local suppliers and farmers.Employees: 70% rate of employee satisfaction; 50% lost time incidents rate reduction and zero fatalities; Max 40% turnover rate.Communities: 10% employee volunteers; Community programmes for all the regions of the Company's presence.Health and wellness Information about healthy lifestyle and nutrition is available to all consumers; Health related products are available to all consumers.Commenting on the news, Jan Dunning, President and CEO of Magnit, said: "By joining the UN Global Compact, we recognise the risks that the climate crisis and other environmental and social issues pose to businesses, employees and societies around the world. We also recognise that the transformation of our society towards long-term sustainability is an unprecedented opportunity to run our business better for all our stakeholders. With 6,000 suppliers, 300,000 employees and 16 million customers every day, Magnit's position at the heart of a vast network provides us with a unique opportunity to help lead a sustainable transformation in Russia. We are embedding environmental protection, social responsibility and good governance across our operations through our pioneering sustainability strategy. I look forward to engaging globally with the UNGC network, exchanging our learnings and strengthening our drive to become Russia's leading retailer with purpose".
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 Email: press@magnit.ru
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, 2020, Magnit operated 38 distribution centres and 20,894 stores (14,581 convenience, 472 supermarkets and 5,841 drogerie stores) in 3,710 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS 16 management accounts results for 1H 2020, Magnit had revenues of RUB 763.4 billion and an EBITDA of RUB 86.9 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 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.: | 85435 |
| EQS News ID: | 1138889 |
| End of Announcement | EQS News Service |
UK Regulatory announcement transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.