21st Sep 2009 07:17
alexander savin REsignsfrom X5 supervisory board
Amsterdam, 21 September 2009 - X5 Retail Group N.V., Russia's largest retailer in terms of sales (LSE ticker: "FIVE"), today announced the decision of the Company's Supervisory Board to accept Alexander Savin's resignation from the Company's Supervisory Board effective 17 September 2009 pursuant to Mr. Savin's decision to concentrate on his own business activities.
Chairman of X5's Supervisory Board Hervé Defforey commented:
"I would like to thank Alexander Savin for his contributions to the Company's development since his appointment to the Supervisory Board in 2006, and to wish him great success in his future endeavours."
Alexander Savin's replacement at the Supervisory Board will be considered in accordance with the Rules governing the Principles and Practices of the Company's Supervisory Board.
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For further details please contact |
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Anna Kareva IR Director Tel.: +7 (495) 980-2729, ext. 22 216 e-mail: [email protected] |
Maxim Trapeznikov Head of PR Department Tel.: +7 (495) 662-8888, ext. 31 262 e-mail: [email protected] |
Note to Editors:
X5 Retail Group N.V. is Russia's largest retailer in terms of sales. The Company was created as a result of a merger between Pyaterochka (soft discounter chain) and Perekrestok (supermarket chain) on 18 May 2006. In June 2008, X5 acquired Karusel hypermarket chain and substantially strengthened its position in hypermarket format.
As at 30 June 2009, X5 had 1,164 Company-managed stores located in Moscow, St. Petersburg and other regions of European Russia, Urals and Ukraine, including 900 soft discount stores, 211 supermarkets and 53 hypermarkets.
As at 30 June 2009, X5's franchisees operated 605 stores across Russia.
For the full year 2008, X5's net sales including acquired Karusel business on a pro-forma basis totalled USD 8,892 mln, EBITDA reached USD 803 mln, and net profit adjusted for non-cash goodwill impairment charge amounted to USD 112 mln.
For the first half 2009 X5's net sales totalled USD 3,978 mln, EBITDA reached USD 347 mln, and net profit amounted to USD 48 mln.
X5 Shareholder structure is as follows: Alfa Group - 47.9%, founders of Pyaterochka - 23.1%, X5 Management - 1.9%, treasury shares - 0.1%, free float - 27.0%.
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.
Related Shares:
X5 Retail