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Retail

'Profitable Growth', M&A Activity In Focus For Russia's Magnit, CEO Tells ESM

Russian retailer Magnit is seeking to drive profitable growth from its existing assets, while also engaging in M&A activity that is value accretive, its chief executive Jan Dunning has told ESM.

Last week, Magnit unveiled a new 2021-2025 strategy at its Capital Markets Day in Moscow, at which the retailer pledged to 'improve and extend' its customer offering, enhance its value proposition, and introduce efficiencies that would deliver higher profitability and cash generation.

As a result of this strategy, it expects to increase its EBITDA margin to 8% by 2025, and achieve a 'comfortable' net debt/EBITDA level of around 1.5x.

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