Pyaterochka Holding N.V. changes its name to X5 Retail Group N.V.
27 Oct 2006
Amsterdam, 27 October 2006 - Today, an official announcement was made to the effect that Pyaterochka Holding N.V. - Russia’s leading grocery retailer in terms of sales - shall henceforth be known as X5 Retail Group N.V.
The new name of the Group reflects the changes that have taken place in the Company following the merger of Pyaterochka and Perekriostok retails chains in May 2006 to create a clear leader of the Russian food retail sector. This has also been reflected in the company’s new logo — a sign representing the Roman letter X, symbolizing multiplication, growth and crossroad (“perekriostok” in Russian), and the historical number 5 (“pyaterochka” in Russian).
“Following the merger of Russia’s leading retail chains, The Company entered a new stage in its development which required a new, modern and dynamic name for the Group reflecting its ambitious strategic objective to become the main consolidator of the Russian fragmented food retail market, national champion of the sector able to compete with multinational companies,” Group CEO Lev Khasis commented.
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 (assuming both chains contribution from 1 January 2006) net sales for the first half of 2006 were US $1,581 million (management accounts). During 1H 2006, the Pyaterochka chain provided US $906 million of net sales, while the Perekrestok chain contributed US $675 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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