Amsterdam, 29 August 2008 - X5 Retail Group N.V., Russia's largest retailer in terms of sales, 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.
Highlights Q2 2008
• X5’s net sales** surged 60% year-on-year to USD 1,980 mln;
• X5’s gross profit grew by 58% year-on-year to USD 520 mln, gross margin totaled 26.3%;
• X5’s EBITDA reached USD 190 mln, a year-on-year increase of 81%; EBITDA margin totaled 9.6%;
• X5’s net profit grew to USD 74 mln from USD 14 mln a year ago.
H1 2008 X5 Highlights
• X5’s net sales** surged 60% year-on-year to USD 1,980 mln;
• X5’s gross profit grew by 58% year-on-year to USD 520 mln, gross margin totaled 26.3%;
• X5’s EBITDA reached USD 190 mln, ayear-on-year increase of 81%; EBITDA margin totaled 9.6%;
• X5’s net profit grew to USD 74 mln from USD 14 mln a year ago.
• X5’s net sales** surged 60% year-on-year to USD 3,766 mln;
• X5’s gross profit grew by 59% year-on-year to USD 978 mln, gross margin totaled 26.0%;
• X5’s EBITDA reached USD 351 mln, a year-on-year increase of 66%; EBITDA margin totaled 9.3%;
• X5’s net profit grew to USD 161 mln from USD 41 mln a year ago.
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.”