Amsterdam, 17 April 2008 - X5 Retail Group N.V. (“X5” or the “Company”), Russia's largest food retailer in terms of sales, published today its audited IFRS results for the full year ended 31 December 2007.
In accordance with its audited full year 2007 results X5 confirms:
• Net sales of USD 5,320 mln, an increase of 53%* year-on-year;
• Gross profit of USD 1,404 mln, an increase of 51% year-on-year; and
• EBITDA of USD 479 mln, an increase of 62% year-on-year.
X5’s audited net profit for 2007 totaled USD 144 mln, an increase of 41% year-on-year.
X5’s audited operating cash flow totaled USD 427 mln, an increase of 35% year-on-year.
Evgeny Kornilov, X5 Retail Group CFO, commented: “Our strong operational performance in 2007, supported by rigorous working capital management, resulted in healthy cash flow generation, enabling the Company to finance almost half of its capital expenditure program from its own resources. These results also provide a solid foundation for the implementation of our ambitious expansion program throughout 2008 and beyond".
* 2006 P&L numbers represent final pro-forma results for 2006 as if the merger between Perekrestok and Pyaterochka took place on January 1, 2006 and take into account only two months (November and December) of Mercado operations. These numbers also include reclassification of product handling and delivery expenses from SG&A to Cost of Sales. For your convenience, Appendix IV to this press release contains detailed information on final pro-forma P&L for 2006.
2007 P&L numbers include one month (December) of Korzinka operations.
For your convenience, Appendix V to this press release contains full year revenue numbers for Mercado (2006), Korzinka(2007) and Strana Gerkulesia (2007).