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Russia's Magnit expects sales growth to speed up in Q4 - Ifax
Russia's Magnit says Q3 net profit down 57.3% y/y
Russia's Magnit says Q2 net profit down 39.5% y/y
Magnit PAO is a Russia-based holding company, which operates in the retail and distribution of consumer goods under the Magnit name. The Company’s activity is divided into one segment: retail sales of consumer goods. Its segment operates through four types of stores and in various states within the Russian Federation: Convenience stores; Hypermarkets; Magnit Family and Drogerie stores. The Company offers a wide range of products, such as food and tobacco products, clothes, shoes, as well as personal care, household cleaning products, cosmetics and perfumery goods. Additionally, the Company operates an in-house logistics system consisting over than 37 distribution centers, which are located in the Volga Federal region, Central Federal region, Southern Federal region, Urals region and in the North-West Federal region. It also operates as wholesale hypermarkets and pharmacies, including pharmacies integrated into drogerie stores.
ulitsa Solnechnaya, d. 15/5
Charles Emmitt Ryan
Independent Chairman of the Board
Jan G. Dunning
President, Director, General Director (CEO) - Chairman of the Management Board
James Peter Simmons
Independent Deputy Chairman of the Board
Vladimir Leonidovich Sorokin
Deputy Chairman of the Management Board
Elena Mikhaylovna Milinova
Member of the Management Board, Chief Financial Officer
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Russia's No.2 bank VTB does not see any impact from its recent purchase of retail chain Magnit on the bank's capital, Deputy Chief Executive Herbert Moos said on Monday.
Russia's Magnit said on Monday that the size of any share buyback could be up to $200 million, the Interfax news agency cited the company's new CEO, Khachatur Pombukhchan, as saying.
Russia's VTB Bank sees the Magnit supermarket chain only growing organically rather than via mergers and acquisitions, the Interfax news agency cited Yuri Soloviev, a senior executive at the bank, as saying on Monday.
Russia's Sergey Galitskiy has stepped down as CEO at the Magnit <MGNT.MM> supermarket chain he founded and sold most of his stake to state lender VTB <VTBR.MM> for about 138 billion roubles ($2.5 billion), bringing Kremlin influence into the retail sector for the first time.
* Magnit and VTB intend to continue company's dividend policy and to pay out part of company's profits to its shareholders as early as in H2 2018
Russia's VTB bank has bought a stake in Russian food retailer Magnit from its Chief Executive Sergey Galitskiy, the bank and the company said on Friday.
* Magnit Chief Executive Officer Sergey Galitskiy has reduced his stake in Magnit to 31.79 percent from 34.26 percent. Source text for Eikon: Further company coverage: (Reporting by Moscow Newsroom)
Russian food retailer Magnit said on Friday it was unlikely to pay dividends in 2018, for the first time in a decade, as it tries to turn around a struggling business in a climate of stiff competition.
* Magnit is unlikely to pay dividends in 2018, will rethink the dividend issue later in 2018, CFO Khachatur Pombukhchan said on Friday.
* Plans to open 1,500 convenience stores in 2018 as well as 700 cosmetics stores and 20 hypermarkets and Magnit Family stores;
Russian food retailer Magnit reported on Friday a 42 percent decline in fourth-quarter net profit on the back of a slowdown in store openings and stiff competition.
* Q4 2017 net sales up 6.2 percent year on year to 302.3 billion roubles ($5.41 billion);
Russian food retailer Magnit said on Friday it had halted talks to buy two smaller retail chains, Krasny Yar and Baton, owned by Siberian company ETK.
* Magnit Chief Executive Officer Sergey Galitskiy to grant a revolving credit line to Magnit's subsidiary Tander in the amount of 44 billion roubles ($750.3 million);
* Magnit to use proceeds from new share sale to fund expansion
Russian food retailer Magnit has launched a two-step equity fundraising deal aiming to raise around $700 million to fund its expansion.
* Shareholder Lavreno Limited sold 7,100,000 shares at 6,185 roubles ($102.56) apiece through an accelerated bookbuild;
* MAGNIT: BOOKRUNNER SAYS BOOKS ARE COVERED; ORDERS NOT AT RUB 6185 RISK MISSING
* Shareholder Lavreno Limited (the "selling shareholder") has initiated the process for the sale of approximately $700 million worth of ordinary shares in the company owned by Lavreno in the form of local rouble-denominated shares;
Russia's second-biggest food retailer Magnit plans to invest 40 billion roubles ($694.93 million) in developing a food production plant in the medium term, Khachatur Pombuhchan, its chief financial officer, said in a conference call on Friday. ($1 = 57.5600 roubles) (Reporting...
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