Magnit hires its 1000th physically-challenged employee

PJSC MAGNIT - Magnit hires its 1000th physically-challenged employee

PR Newswire

London, November 25

Press Release

Krasnodar

November 25, 2016

Magnit hires its 1000th physically-challenged employee

Krasnodar, Russia (November 25, 2016): Magnit PJSC, one of Russia’s leading retailers (MOEX and LSE: MGNT), hires its 1000th physically-challenged employee.

Magnit hired its 1000th physically-challenged employee and is currently one of few companies in Russia, which employs such a large number of physically-challenged workers.

Physically-challenged employees hold various positions at Magnit, for example: store managers, merchandizers, project managers, shop assistants, cashiers, amongst others. After being hired each employee attends special onboarding programs aimed at providing these employees with the information about Magnit and introducing them to their new colleagues.

Physically-challenged employees are provided with employment benefits, opportunities to participate in the corporate pension program, and to buy health resort vouchers at a discount price. As a result of Magnit’s efforts to provide employment opportunities to physically-challenged employees, hundreds of people have had the chance to achieve their fullest working potential, to be financially independent, and socially integrated with dignity.

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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 September 30, 2016, Magnit operated 33 distribution centers and 13,364 stores (10,138 convenience, 407 hypermarkets and 2,819 drogerie stores) in 2,436 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the reviewed IFRS consolidated financial statements for 1H 2016, Magnit had revenues of RUB 522 billion and an EBITDA of RUB 52 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.