X5 Reports Full Year 2008 Results
14 Apr 2009

Amsterdam, 14 April 2009 - X5 Retail Group N.V., Russia's largest retailer in terms of sales
(LSE ticker: “FIVE”), today announced its audited IFRS results for the fourth quarter and full year
ended 31 December 2008.

Q4 2008 Highlights	FY 2008 Highlights
• Consolidated net sales increased 41% year-	• Consolidated net sales increased 57% year-
on-year in USD terms to USD 2.4 bln;	on-year to USD 8.4 bln;
• Pro-forma net sales grew 20% year-on-year	• Pro-forma net sales surged 45% year-on-year
to USD 2.4 bln;	to USD 8.9 bln;
• Pro-forma gross profit increased by 15%	• Pro-forma gross profit increased by 41%
year-on-year to USD 605 mln, for a gross	year-on-year to USD 2.3 bln, for a gross
margin of 25.5%;	margin of 25.6%;
• Pro-forma EBITDA reached USD 225 mln,	• Pro-forma EBITDA reached USD 803 mln, a
a year-on-year increase of 19%; EBITDA	year-on-year increase of 47%; EBITDA
margin totaled 9.5%;	margin totaled 9.0%;
• X5 recorded USD 2.3 bln of non-cash	• X5 reported a USD 2.1 bln net loss for the
goodwill impairment charge, resulting in a	full year 2008 on the back of non-cash
net loss for the fourth quarter 2008;	goodwill impairment charge recorded in the
	fourth quarter;
• Adjusted net loss*** totalled USD 27 mln	• Adjusted net profit*** for the full year 2008
due to mainly non-cash foreign exchange	totalled USD 112 mln, as strong operating
loss;	performance was partially offset by non-cash
	foreign exchange loss;

• In 2008 the Company generated USD 629 mln of operating cash flow;
• Net debt/EBITDA decreased from 3.2x at the beginning of the year to 2.2x as at 31
December 2008;
• 2009 sales growth and CapEx outlook as announced on 6 March 2009 reiterated.
____________________________
* Including the results of the acquired Karusel business from 30 June 2008, when the acquisition was completed
(excluding them in 2007)
** Including the results of the acquired Karusel business from 1 January 2007 and 2008, respectively
*** Adjusted operating profit and adjusted net profit/(loss) are defined as operating profit and net profit/(loss) before non-cash goodwill impairment charge.

X5 Retail Group CEO Lev Khasis commented:
“2008 marks a year of milestones for X5 Retail Group. The Company strengthened its number one
position in the Russian retail sector and delivered on all of its promises for growth and
profitability. In 2009, we will work to further enhance X5’s value proposition to win customers
and drive increases in sales and market share, while building financial strength. Our ultimate
goal is long-term outperformance, and we believe focused execution of X5’s multi-format strategy
offers our shareholders the best opportunities for durable, profitable growth.”

X5 Retail Group CFO Evgeny Kornilov added:
“In 2008 X5 again delivered robust growth in sales and EBITDA, our key indicator of
profitability. Our strong finish in the fourth quarter 2008 was driven by X5’s rapid and effective
response to changes in the financial and economic situation as we scaled back CapEx and used
healthy cash generation to improve short-term liquidity. We entered 2009 with a solid financial
position, and during the year we expect this to strengthen further through cash flow management,
cost control, disciplined investment and deleveraging.”

For more detailed information please refer to X5's website: http://www.x5.ru/

X5 Retail Group N.V.

LSE-Listed X5 Retail Group N.V. is Russia’s largest food retailer in terms of sales and the only multi-format operator in Russia and with a growing presence in Ukraine and Kazakhstan. The four primary retail investments held by X5 include leading supermarket chain Perekrestok, leading soft discounter chain Pyaterochka, Kopeyka, a leading discount grocery retailer, and Karusel, one of the leading hypermarket chains in Russia.

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