X5 Retail Group N.V. Reports Year-On-Year Top Line Growth of 60%, EBITDA Growth of 81% in Q2 2008*
29 Aug 2008
Amsterdam, 29 August 2008 - X5 Retail Group N.V., Russia's largest retailer in terms of sales
(LSE ticker: “FIVE”), published today its unaudited IFRS results for the six months and quarter
ended 30 June 2008 based on management accounts. This press release also contains adjusted
Karusel’s results and X5’s pro-forma results that include Karusel’s performance since 1 January
2008.
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Q2 2008 X5 Highlights* |
H1 2008 X5 Highlights* |
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• X5’s net sales** surged 60% year-on-year to USD 1,980 mln; |
• X5’s net sales** surged 60% year-on-year to USD 3,766 mln; |
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• X5’s gross profit grew by 58% year-on-year to USD 520 mln, gross margin totaled 26.3%; |
• X5’s gross profit grew by 59% year-on-year to USD 978 mln, gross margin totaled 26.0%; |
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• X5’s EBITDA reached USD 190 mln, a year-on-year increase of 81%; EBITDA margin totaled 9.6%; |
• X5’s EBITDA reached USD 351 mln, a year-on-year increase of 66%; EBITDA margin totaled 9.3%; |
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• X5’s net profit grew to USD 74 mln from USD 14 mln a year ago. |
• X5’s net profit grew to USD 161 mln from USD 41 mln a year ago. |
* Excluding Karusel
** Excluding VAT
X5 Retail Group CFO Evgeny Kornilov commented:
“After reporting solid sales growth in the second quarter, we are pleased to announce that our
financial results were strong as well. Whilst our continual investment in prices and customer
loyalty resulted in increased sales volumes, our cost control policy has enabled us to enhance
profitability. Going forward we will maintain our focus on efficiency, and our key task for the rest
of the year is to ensure smooth integration of Karusel and improvement of its operational and
financial performance.”
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