OJSC ‘Magnit’ Launches a New Disclosure Format – A Bilingual Electronic Data Book
OJSC ‘Magnit’ / Key word(s): Miscellaneous
OJSC 'Magnit' Launches a New Disclosure Format – A Bilingual Electronic Data Book
OJSC 'Magnit' (the 'Company'; MICEX and LSE: MGNT), in order to increase its investment appeal, together with IR agency Interfax Business Service, has launched a new format of voluntary disclosure – a bilingual Data Book, in an MS Excel format, most sought for by investment analysts in Russia and abroad.
A regular set of tools by way of which companies communicate with the investment community, is limited to personal interaction, filling a website with standard IR documents, and disseminating information about the company (press releases and annual reports).
Many senior executives think that the named channels are more than enough to satisfy the investment community's interest towards their company. However, practice shows that formal attitude towards investment analysts' needs and absence of modern formats of providing information have a negative effect on companies themselves.
'Traditional tools aimed at analysts, have significant limitations. At the same time it isn't a secret that most analysts build financial models of the companies they cover, using MS Excel. Because from most practitioners' viewpoint, no other tools gives such flexibility, freedom in data processing, building interdependences between them of any level of complexity,' thinks Stanislav Martyushev, the director general of IR agency Interfax Business Service. 'This is why source information presented in Excel format as rows, already prepared for immediate usage in building models, will be most comfortable for analysts. In this case the labour intensiveness of building a model by an analyst is being decreased manyfold. Because a specialist does not anymore need to track down data in multiple reporting files made in different formats or address numerous requests to the company, then enter data 'manually', build a model and check it several times with the company's IR department (as typing mistakes and confusion are inevitable in case of a manual entry).'
Based on the reviews from end users of this information – financial analysts – the most comfortable way of receiving information from issuers is a Data Book in an Excel workbook format. This format, by default, contains all the historic data about the company in a visual and detailed way:
– Operating results;
– Marketing data on the company's market position;
– Financial results:
dynamics of all indicators from the main forms of IFRS accounts;
– Country macroeconomic statistics;
– Industry dynamics of market development and structure;
– Company investment program indicators;
– List of peers for adequate comparison (understanding the similarity of the segment structure of their businesses);
– .other information which the Company finds necessary to provide to analysts.
Oleg Goncharov, Magnit's IR Director, provided the following comment on the release of the debut Data Book in the Company's practice:
Please follow the link to view the Data Book: http://www.magnit-info.ru/en/investors/databook/
NOTES FOR EDITORS
Based in Krasnodar, in the Southern region of Russia, Open Joint Stock Company 'Magnit' (LSE and MICEX: MGNT, S&P: 'BB-') is the holding company for a group of entities that operate in the retail trade under the 'Magnit' brand. The chain of 'Magnit' stores is one of the leading food retail networks in Russia. As of June 30, 2012 the chain consisted of 5,268 convenience stores, 98 hypermarkets, 5 'Magnit Family' stores and 351 cosmetics stores (drogerie) in 1,461 locations in the Russian Federation.
Approximately two-thirds of the Company's stores are located in cities with a population of less than 500,000 inhabitants. Most of its stores are located in the Southern, North-Caucasian, Central and Volga regions. The Company also operates stores in the North-Western, Urals and Siberian regions.
As of June 30, 2012 the Company operated an in-house logistics system consisting of 16 distribution centers, employing automated stock replenishment systems and a fleet of 4,070 vehicles.
In accordance with the reviewed IFRS consolidated financial statements for 1H 2012, the Company recorded consolidated revenue of approximately US$ 6,776 million and consolidated EBITDA of around US$ 671 million.
IR agency Interfax Business Service is a daughter company of Interfax International Information Group and specializes in providing technological services and consulting in the field of investor relations in Russia and the CIS.
Interfax is uniquely positioned for rendering IR services: it has resources of a leading Russian information agency and close business relations with Russian institutional and private investors.
The company has work experience with issuers and investors in various fields (investment positioning, designing innovative formats of information disclosure, rating advisory, independent financial analytics, attracting private share financing into small and medium enterprises).
In 2005-2012 the company has provided consulting and IR services to over 100 clients, representing more than 10 industries, in Russia, Ukraine, and Kazakhstan in.
End of Corporate News
17.09.2012 Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC – a company of EquityStory AG.
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