X5 Retail Group N.V. announces completion of the 2006 GDR purchase program
22 Nov 2006
Amsterdam, 22 November 2006 – X5 Retail Group N.V. (LSE: FIVE), Russia’s leading grocery retailer, today announced that it has successfully completed its 2006 GDR purchase program launched in June 2006 for general corporate purposes, including funding ESOP liabilities and potential acquisitions. The total number of GDRs purchased under this program and currently held as a treasury stock is 3,605,420.
Resuming this program will be decided next year if and when necessary.
Note to Editors:
X5 Retail Group N.V. is Russia's largest food retailer in terms of sales. As of 30 September 2006, the group had 420 company-managed "Pyaterochka" soft discount stores located in the Moscow (199), St. Petersburg (199) and Yekaterinburg (22) areas, and 141 company-managed "Perekrestok" supermarkets across Central Russia and Ukraine, including 81 stores in Moscow.
As of 30 September 2006, franchisees operated 539 Pyaterochka branded stores across Russia, in Ukraine and Kazakhstan. Perekrestok has 10 convenience stores operated by franchisees in the Moscow area.
Pyaterochka and Perekrestok have merged their operations as of 18 May 2006 to create the clear leader in the Russian food retail market.
Pyaterochka’s 2005 net sales (pre-merger) reached USD 1,359 million, with gross banner sales in 2005 of over USD 2 billion. Perekrestok net sales reached USD 1,015 million in 2005.
The Group’s pro forma net sales for the 9 months of 2006 were US $2,411 million (management accounts). The Pyaterochka chain provided US $1,374 million of net sales, while the Perekrestok chain contributed US $1,037 million of net sales.
Forward looking statements:
This announcement includes statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the fact that they do not only relate to historical or current events. Forward-looking statements often use words such as” anticipate”, “target”, “expect”, “estimate”, “intend”, “expected”, “plan”, “goal” believe”, or other words of similar meaning.
By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances, a number of which are beyond X5 Retail Group N.V.'s control. As a result, actual future results may differ materially from the plans, goals and expectations set out in these forward-looking statements.
Any forward-looking statements made by or on behalf of X5 Retail Group N.V. speak only as at the date of this announcement. Save as required by any applicable laws or regulations, X5 Retail Group N.V. undertakes no obligation publicly to release the results of any revisions to any forward-looking statements in this document that may occur due to any change in its expectations or to reflect events or circumstances after the date of this document.
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