MAGNIT PJSC (MGNT)
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:
Health and wellness
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:
Director for Investor Relations
Office: +7 (861) 210-48-80
Director for Investor Relations
Office: +7 (861) 210-9810 x 15101
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.
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.
3.1. Additional regulated information required to be disclosed under the laws of a Member State
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