Magnit is one of Russia’s largest retailers with a total selling space of 10,934 thous. sq. m and 31,483 stores of various formats operating in 72 regions of Russia and in the Republic of Uzbekistan.
The largest retail chain by number of stores and geographic coverage
The only retailer with its own marketplace
Vertically integrated retailer
Mission
At Magnit, we are committed to continuous operational improvement and professionalism in all areas of activity, while aiming to deliver exceptional quality and customer service.
2,363
DIXY convenience
stores
8,050
drogerie
stores
456
supermarkets
20,268
Magnit convenience stores
1,084
pharmacies
Key highlights
-
Number of stores,
-
20,725
2019 -
21,564
2020 -
26,077
2021 -
27,405
2022 -
29,165
2023 -
31,483
2024
-
20,725
-
Headcount,thous.
-
308
2019 -
316
2020 -
357
2021 -
361
2022 -
361
2023 -
368
2024
-
308
-
Number of tickets,mln
-
4,690
2019 -
4,641
2020 -
5,147
2021 -
5,932
2022 -
6,190
2023 -
6,671
2024
-
4,690
-
Revenue,RUB bln
-
1,369
2019 -
1,554
2020 -
1,856
2021 -
2,352
2022 -
2,545
2023 -
3,043
2024
-
1,369
-
EBITDA margin,%
-
6.1
2019 -
7.0
2020 -
7.2
2021 -
6.8
2022 -
6.5
2023 -
5.6
2024
-
6.1
-
Net income margin,%
-
1.2
2019 -
2.4
2020 -
2.8
2021 -
1.4
2022 -
2.6
2023 -
1.6
2024
-
1.2
-
29% in 2023 vs the 2019 base year42%reduction in specific greenhouse gas emissions
-
55% in 2023 vs the 2019 base year65%reduction in specific water consumption
-
59% in 2023 vs the 2019 base year59%reduction in specific food waste generation
-
29% in 2023 vs the 2019 base year29%reduction in specific electricity consumption
-
81,1% in 202381.2%employee satisfaction rate
-
86% in 202387.1%employee engagement rate
-
RUB 598.5 mln in 2023RUB 561 mlnspending on social and charitable projects
Key developments of 2024
30 years of serving customers
Quality, convenience, and comfort for our customers
Investment case
Investment case
Our strategic ambition
Our strategic ambition is to achieve market leadership through a unique multiformat offering, supported by a broad ecosystem of tech-driven services, all integrated under a single loyalty programme.
Strategy
We implement
our strategy
through
customer
engagement
across
our
core
existing
formats,
relying on:
We
leverage
new
growth
drivers
to
broaden
our
product
offering
and
enhance
customer
convenience
by
developing:
Sustainability Strategy
The Sustainability Strategy is the Company’s key sustainable development document. Developed in 2020, the Strategy is focused on an analysis of the Company’s current and potential environmental and social impact, as well as an analysis of the retail industry and stakeholder opinions. The Company has identified five strategic areas: environment, sustainable supplies, employer brand development, supporting local communities and volunteering, and promoting healthy lifestyles.
Magnit tracks progress against the goals, comparing quantitative performance with the baseline of 2019. For qualitative goals, a set of KPIs is established to reflect progress. The indicators are analysed on a year-on-year basis and may be supplemented to reflect changes in the business.
In 2024, the Company began the development of a new Sustainability Strategy that represents Magnit’s vision for the next five years, takes into account new products and services, as well as changing customer preferences. The document will maintain the continuity of the current strategy, incorporate global ESG trends, and align with Russia’s national goals until 2030, and adjust to the business dynamics with the focus on measurable quantitative goals.
Sustainability Strategy 2025
Sustainable development50% of private label and own production packaging to be recyclable, reusable or compostable
-
72% of private label packaging is potentially recyclable
100% of recyclable plastics used in own operations to be collected and recycled
- 100% of plastic waste is sent for recycling
50% reduction in specific food waste generation
- 59% reduction in specific food waste generation compared to the baseline of 2019
30% reduction in specific GHG emissions
- 42% reduction in specific GHG emissions compared to the baseline of 2019
25% reduction in specific water and electricity consumption
- 65% decrease in specific water consumption compared to the baseline of 2019
- 29% decrease in specific electricity consumption compared to the baseline of 2019
100% responsible sourcing for socially important categories
- 66% share of Russian-made products in the range of socially important goods 79.7% in 2023
- 40% private label share in the range of socially important goods 33% in 2023
100% responsibility for own production and agriculture
- 77% share of domestic agricultural feedstock used in own production 76.4% in 2023
Partnership programmes for local suppliers and farmers
- 18% increase in sales of local suppliers’ products 9% in 2023
- 37% increase in product supplies under agricultural contracts 22% in 2023
-
1,061 Russian suppliers became new partners of Magnit
1,158 in 2023
70% employee satisfaction rate
-
81.2% employee satisfaction rate
50% reduction in lost time injury frequency rate, zero fatalities
- 0.83 injury frequency rate
-
12% decrease in LTIFR compared to 2023
40% maximum staff turnover rate
-
64.5% staff turnover
Community programmes throughout all our regions of operation
- 100% regions of the Company operation covered by the programmes
10% volunteering employees
-
28,351 unique volunteers within the Company 21,445 in 2023
- representing 9% of the average headcount 7% in 2023
Information about healthy lifestyles and nutrition available to all customers
- Over 10 million unique monthly users of the Gastronom website
- Over 7 million readers of the My Magnit magazine
Healthy products available to all customers
- 28% share of healthy food among the Company’s private labels 28% in 2023
-
RUB 516 mln sales of the Lifestyle healthy food brand RUB 695 mln in 2023
- 447 stores have Health Islands 475 in 2023
- 836 Health Islands 693 in 2023
Target for 2025
50% of private label and own production packaging to be recyclable, reusable or compostable
Progress towards our goals
- 72% of private label packaging is potentially recyclable
Target for 2025
100% of recyclable plastics used in own operations to be collected and recycled
Progress towards our goals
- 100% of plastic waste is sent for recycling
Target for 2025
50% reduction in specific food waste generation
Progress towards our goals
- 59% reduction in specific food waste generation compared to the baseline of 2019
Target for 2025
30% reduction in specific GHG emissions
Progress towards our goals
- 42% reduction in specific GHG emissions compared to the baseline of 2019
Target for 2025
25% reduction in specific water and electricity consumption
Progress towards our goals
- 65% decrease in specific water consumption compared to the baseline of 2019
- 29% decrease in specific electricity consumption compared to the baseline of 2019
50% of private label and own production packaging to be recyclable, reusable or compostable
- 72% of private label packaging is potentially recyclable
100% of recyclable plastics used in own operations to be collected and recycled
- 100% of plastic waste is sent for recycling
50% reduction in specific food waste generation
- 59% reduction in specific food waste generation compared to the baseline of 2019
30% reduction in specific GHG emissions
- 42% reduction in specific GHG emissions compared to the baseline of 2019
25% reduction in specific water and electricity consumption
- 65% decrease in specific water consumption compared to the baseline of 2019
- 29% decrease in specific electricity consumption compared to the baseline of 2019
Target for 2025
100% responsible sourcing for socially important categories
Progress towards our goals
- 66% share of Russian-made products in the range of socially important goods79.7% in 2023
- 40% private label share in the range of socially important goods 33% in 2023
Target for 2025
100% responsibility for own production and agriculture
Progress towards our goals
- 77% share of domestic agricultural feedstock used in own production 76.4% in 2023
Target for 2025
Partnership programmes for local suppliers and farmers
Progress towards our goals
- 18% increase in sales of local suppliers’ products 9% in 2023
- 37% — increase in product supplies under agricultural contracts 22% in 2023
-
1,061 Russian suppliers became new partners of Magnit
1,158 in 2023
100% responsible sourcing for socially important categories
- 66% share of Russian-made products in the range of socially important goods 79.7% in 2023
- 40% private label share in the range of socially important goods 33% in 2023
100% responsibility for own production and agriculture
- 77% share of domestic agricultural feedstock used in own production 76.4% in 2023
Partnership programmes grammes for local suppliers and farmers
- 18% increase in sales of local suppliers’ products 9% in 2023
- 37% increase in product supplies under agricultural contracts 22% in 2023
-
1,061 Russian suppliers became new partners of Magnit
1,158 in 2023
Target for 2025
70% employee satisfaction rate
Progress towards our goals
-
81.2% —
employee satisfaction rate
Target for 2025
50%reduction in lost time injury frequency rate, zero fatalities
Progress towards our goals
- 0.83 injury frequency rate
-
12% decrease in LTIFR2 compared to 2023
Target for 2025
40% maximum staff turnover rate
Progress towards our goals
-
64.5% staff turnover
70% employee satisfaction rate
-
81.2% —
employee satisfaction rate
50%reduction in lost time injury frequency rate, zero fatalities
- 083 injury frequency rate
-
12% decrease in LTIFR2 compared to 2023
40% maximum staff turnover rate
-
64.5% staff turnover
Target for 2025
Community programmes throughout all our regions of operation
Progress towards our goals
- 100% regions of the Company operation covered by the programmes
Target for 2025
10% volunteering employees
Progress towards our goals
-
28,351 unique volunteers within the Company 21,445 in 2023
- representing 9% of the average headcount 7% in 2023.
Community programmes throughout all our regions of operation
- 100% regions of the Company operation covered by the programmes
10% volunteering employees
-
28,351 unique volunteers within the Company 21,445 in 2023
- representing 9% of the average headcount 7% in 2023
Target for 2025
Information about healthy lifestyles and nutrition available to all customers
Progress towards our goals
- Over 10 million unique monthly users of the Gastronom website
- Over 7 million readers of the My Magnit magazine
Target for 2025
Healthy products available to all customers
Progress towards our goals
- 28% share of healthy food among the Company’s private labels 28% in 2023
-
RUB 516 mln sales of the Lifestyle healthy food brand RUB 695 mln in 2023
- 447 stores have Health Islands 475 in 2023
- 836 Health Islands 693 in 2023
Information about healthy lifestyles and nutrition available to all customers
- Over 10 million unique monthly users of the Gastronom website
- Over 7 million readers of the My Magnit magazine
Healthy products available to all customers
- 28% share of healthy food among the Company’s private labels 28% in 2023
-
RUB 516 mln sales of the Lifestyle healthy food brand RUB 695 mln in 2023
- 447stores have Health Islands 475 in 2023
- 836 Health Islands 693 in 2023
Download 2024 Annual Report