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MAGNIT PJSC (MGNT)
Magnit and Largest FMCG Companies sign Code of Commitments under 'United for a Healthier Future' Initiative
14-Oct-2021 / 14:00 MSK
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Magnit and Largest FMCG Companies sign Code of Commitments under "United for a Healthier Future" Initiative
Krasnodar, Russia (October 14, 2021): Magnit PJSC (MOEX and LSE: MGNT; the Company, Magnit), one of Russia's leading retailers, and eight international FMCG producers, has signed the Code of Voluntary Commitments under the "United for a Healthier Future" Initiative. For the first time, major FMCG producers and health product manufacturers, along with the Company, made a pledge to improve the quality of life for consumers and local communities.
Besides Magnit, the Code was signed by Nestlé, Johnson & Johnson Consumer Health, Danone, Mars, PepsiCo, L'Oréal, Procter & Gamble, as well as Boston Consulting Group.
In signing the code, the companies made the following commitments:
- Education - to provide information to consumers and employees that support raising health awareness, encouraging more responsible consumption, and increasing interest in balanced nutrition, healthy living, disease prevention, and environmental care;
- Availability - to offer consumers goods, comprehensive solutions, and services aimed at increasing the attractiveness, accessibility, and affordability of healthy living and environmental care. The members will also strive to increase the share of food and associated products for healthy living and environmental care in the consumer basket;
- Partnerships - to remain open to cooperation with retailers, FMCG producers, public authorities, research institutes, and other stakeholders with a view to share relevant experiences in promoting healthy living and environmental care;
- Research - to support studies aimed at identifying consumer trends and the level of consumer awareness with regard to healthy living and environmental care.
The Code was developed as part of the "United for a Healthier Future" Initiative, which was announced in April 2021. The project will see its members collaborating in three areas: Self Care, Community Care, and Employee Care. The members of the Initiative intend to assist in achieving the goals of the "Strengthening Public Health" Federal Project (part of the "Demographics" National Project), actively spread information about the principles of healthy living and environmental care, and support development of unified requirements to educational outreach in the field of healthy living and ecology. It is expected that the Initiative will start implementing the first phase of its projects this year.
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Jan Dunning
Magnit's President and CEO
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"The adopted Code will serve as the foundation for the largest FMCG producers and retailers in taking care of the consumer and the world around us. Together, we will promote these ideas to the widest possible audience and try to improve the quality of life for people living in Russia. The Code remains open and may be signed by any interested suppliers, retailers, and any other parties that agree with its provisions. Magnit has been in the market for almost 30 years, we have several generations of families shopping with us today, they trust us, and we are confident that we can help our customers live healthier lives and take care of their loved ones and the environment."
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Lakish Hatalkar
Area Managing Director Johnson & Johnson Consumer Health for Russia, Ukraine and CIS, Co-Chair of Women's Leadership & Inclusion EMEA
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"As we look into the future, we can anticipate people's increased focus on health. At Johnson & Johnson Consumer Health, WE stand for health, and our mission is total health - for individuals at every stage of life, for communities around the world, and for our planet. In 2020, we introduced our 10-year ambition to advance human health while also protecting our planet - Healthy Lives Mission, which is our strategic way to satisfy the needs and demands of modern consumers. This includes a focus on reducing preventable diseases, such as tackling smoking cessation in Russia. To help fulfill our Healthy Lives Mission, we're joining forces with retailers, other manufacturers and business partners to deliver best possible solutions for millions of consumers in Russia."
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Alexey Khodyachikh
Corporate Marketing Communications Director Nestlé Russia and Eurasia
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"At Nestlé we aim to help consumers make healthier food and lifestyle choices based on our solid expertise in nutrition, health and wellness. We see our mission in enhancing quality of life. Today consumers want to get healthier, natural food options made with care about the planet. By joining forces with retail business and industry partners we get an opportunity to further upscale the positive impact of our programmes and to inspire people lead healthier lives."
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Sharon Bligh
Healthier Lives Director, The Consumer Goods Forum
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"Health is the cornerstone of productive communities, and that remains at the core of the work that we do at The Consumer Goods Forum as part of the Collaboration for Healthier Lives (CHL) Coalition. The launch of the Russian CHL local initiative in April was an important step in our mission to empower and inspire as many people as possible in communities worldwide to make healthier choices and live healthier lives. We hope that the "United for a Healthier Future" initiative's latest commitments to education, availability, partnerships and research will help drive progress to encourage a healthier future in Russia and accelerate impact at scale".
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The 'United for a Healthier Future' Initiative is being implemented under the aegis of The Consumer Goods Forum (CGF) - an international industry organization uniting more than 400 retailers, manufacturers, and service providers across 70 countries. It is a unique global platform for knowledge sharing and implementing initiatives in such strategic areas as health and well-being, sustainability, and food safety.
According to research data, health is a key value for Russian people. GFK reports that Russian citizens put health well ahead of wealth, an interesting job, and a prosperous marriage. Moreover, health has greater value for Russians than for the rest of the world.
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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, 2021, Magnit operated 39 distribution centers and 22,344 stores (15,348 convenience, 469 supermarkets and 6,527 drogerie stores) in 3,802 cities and towns throughout 7 federal regions of the Russian Federation.
In accordance with the reviewed IFRS 16 results for 1H 2021, Magnit had revenues of RUB 822.2 billion and an EBITDA of RUB 94.4 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.
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Forward-looking statements
This document contains or may contain forward-looking statements that may or may not prove accurate. For example, statements regarding expected sales growth rate and/or 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.
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