S&P Global Ratings has upgraded Magnit’s credit rating to “BB +”


S&P Global Ratings has upgraded Magnit’s credit rating to “BB +”

20-Dec-2021 / 6:15 PM MSK
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Krasnodar, Russia (December 20, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company), one of Russia’s leading retailers, announces that its rating has been upgraded to “BB +” by S&P Global Ratings.

Please note that on December 17, 2021, S&P Global Ratings upgraded PJSC Magnit’s long-term credit rating from “BB” to “BB +”; Stable outlook.

S&P Global Ratings upgraded its rating on Magnit due to its improved competitive position and constant leverage. According to S&P Global Ratings, the acquisition of Dixy has improved Magnit’s scale, geographic footprint and logistics capabilities. The company has expanded its presence in the wealthier and densely populated markets of Moscow, St. Petersburg and adjacent regions. S&P Global Ratings expects Magnit to generate strong cash flow supported by balanced capital spending and prudent financial policy.

A stable outlook indicates that S&P Global Ratings expects the Company to maintain its Adjusted EBITDA margin near 11.5%, from funds from operations (FFO) to debt over 20% and cash flows. largely sufficient free operating cash flow (FOCF) to cover all leases and dividend payments.

For more information, please contact:

Dina chistyak

Head of Investor Relations
dina_chisty[email protected]

Office: +7 (861) 210 9810 x 15101

Media inquiries Twitter

[email protected] @MagnitIR

Note to editors

“Magnit” is one of the leading retailers in Russia. Founded in 1994, the company is headquartered in Krasnodar, southern Russia. As of September 30, 2021, Magnit operated 45 distribution centers and 25,315 stores in 3,840 towns and villages in 7 federal regions of the Russian Federation.

In accordance with the results of the unaudited IFRS 16 management accounts for 9M 2021, Magnit achieved sales of RUB 1,311.5 billion and EBITDA of RUB 151.4 billion. Magnit’s local shares are traded on the Moscow Stock Exchange (MOEX: MGNT) and its GDRs on the London Stock Exchange (LSE: MGNT) and it is rated by Standard & Poor’s of BB.

Forward-looking statements

This document contains or may contain forward-looking statements which may or may not prove to be correct. For example, statements regarding the rate of sales growth and / or expected 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 on the date of the statement. All written or oral forward-looking statements attributable to Magnit are qualified by this cautionary statement. Magnit assumes no obligation to update or revise any forward-looking statement to reflect any change in circumstances.

IS IN: US55953Q2021
Category code: MSCU
LEI code: 2534009KKPTVL99W2Y12
OAM categories: 3.1. Additional regulated information to be disclosed under the law of a Member State
Sequence number: 131395
EQS News ID: 1260207

End of the announcement EQS News Service

EQS 2021

Sales 2021 25 280 million

Net income 2021 609 million

Net debt 2021 8 919 million

PER 2021 ratio 12.5x
Yield 2021 9.98%
Capitalization 7,446 million
7,440 million
VE / Sales 2021 0.65x
VE / Sales 2022 0.57x
Number of employees 310 924
Free float 65.6%

Duration :

Period :

Public Limited Company Magnit Technical Analysis Chart |  MarketScreener

Trends in technical analysis PUBLIC ACTION CORPORATION MAGNIT

Short term Mid Road Long term
Tendencies Bearish Neutral Neutral

Evolution of the income statement

To sell

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Average consensus TO BUY
Number of analysts ten
Last closing price

$ 76.03

Average price target

$ 105.72

Spread / Average target 39.1%

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