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2021-07-21

Magnit makes top-3 in ESG ranking of non-financial public companies, becomes best among retailers

MAGNIT PJSC (MGNT)
Magnit makes top-3 in ESG ranking of non-financial public companies, becomes best among retailers

21-Jul-2021 / 09:59 MSK
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.


 

 

MAGNIT MAKES TOP-3 IN ESG RANKING OF NON-FINANCIAL PUBLIC COMPANIES, BECOMES BEST AMONG RETAILERS

 

Krasnodar, Russia (July 21, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, placed third in the ESG ranking of Russian non-financial public companies produced by the National Ratings Agency (NRA). The Company scored 31.71 points, the highest among Russian retailers.

The results of the ranking survey were presented during the roundtable discussion titled "ESG Ranking of Russian Businesses. Transformation of ESG Agenda of Russian Issuers". The ranking spans 105 of the largest industrial and consumer companies whose stocks are included in Level 1 and Level 2 quotation lists of the Moscow Exchange. The maximum possible score, which was derived from three separate components, was 38 points. The top spot was given to a company with its 31.94 points; a company, which scored 31.8 points, came in second.

The NRA's study notes that ESG factors are most important for companies that already have an established pool of investors who focus on ESG compliance and integration of the sustainability agenda. The agency also highlighted the gradual shift in consumer preferences towards products made by ESG-compliant companies as another important driver. The NRA's study states that this is especially important for companies working in retail, where the ESG agenda is rapidly becoming more and more relevant. The agency thinks that Russian consumer sector already has companies that may be viewed as driving sustainable practices in the industry. All this serves as an indication that businesses that actively integrate sustainability practices into their agenda will enjoy a greater number of loyal customers and be able to hold onto their market positions in the future.

Besides that, survey participants showing more advanced levels of ESG agenda integration also have very high transparency and information quality with regard to non-financial reporting.

Magnit, which received the best score among Russian retailers, was assigned to the Advanced Level group. According to the NRA's survey, companies at this level have a long-term sustainability strategy and a plan for implementation of such strategy, as well as relevant KPIs and public reports disclosing achievement of such KPIs. In addition to that, integration of the ESG agenda in these companies is reflected in corporate governance, organizational structure, and business processes; moreover, such companies involve their employees in development and execution of the strategy.

«

Anna Meleshina

Director of Department for Corporate Relations and Sustainable Business Development at Magnit

»

 

 

 

"Last year, we approved our Sustainability Strategy, becoming the first Russian retailer to undertake quantitative and qualitative commitments and specify the criteria for their fulfillment by 2025. We've identified five priority areas: decreasing our impact on the environment, developing a responsible supply chain, caring about our employees, supporting local communities, and promoting a healthy lifestyle. This year, we published our second ESG report and disclosed more non-financial information to try and meet the demand of all stakeholders. Bottom line is, despite all the challenges and restrictions brought on by the pandemic, we ultimately succeeded in achieving progress across all of the areas of the Strategy. The fact that we've been ranked among the Top 3 by the NRA confirms that we're moving in the right direction."

 

 

 

For further information, please contact:

 

Dina Chistyak

Head of Investor Relations 
dina_chistyak@magnit.ru

Office: +7 (861) 210 9810 x 15101

 

Media Inquiries                    Twitter

press@magnit.ru                    @MagnitIR

 

 

 

 

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 March 31, 2021, Magnit operated 39 distribution centers and 21,900 stores (15,098 convenience, 471 supermarkets and 6,331 drogerie stores) in 3,770 cities and towns throughout 7 federal regions of the Russian Federation.

In accordance with the audited IFRS 16 results for FY 2020, Magnit had revenues of RUB 1,553.8 billion and an EBITDA of RUB 178.2 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.

 

 

 

Forward-looking statements

 

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