30th Sep 2008 18:25
FEDERAL ANTI-MONOPOLY SERVICE APPROVES RULES
PROPOSED BY X5 ON ITS DEALINGS WITH SUPPLIERS IN ST. PETERSBURG
Amsterdam, 30 September 2008 - X5 Retail Group N.V. ("X5" or the "Company"), Russia's largest retailer in terms of sales (LSE ticker: "FIVE"), announces that it has received approval from the Federal Anti-Monopoly Service (the "FAS") of the rules developed by the Company with respect to its dealings with suppliers in St. Petersburg, in accordance with the FAS' Order issued along with the approval of the acquisition of the Karusel hypermarket chain.
As the Company announced on 12 May 2008, the approval by the FAS of the acquisition of Karusel hypermarket chain by X5 contained a number of requirements in a form of an Order with regard to the conduct by X5 of its business in St. Petersburg, including the Company's dealings with suppliers (the "Order").
In accordance with the Order, the Company has developed, submitted to the FAS and amended in accordance with the FAS' comments a list of rules relating to its dealings with suppliers in St. Petersburg. Today, on 30 September 2008, the FAS has confirmed its agreement with the rules proposed by the Company.
As a result, X5 has revoked from the Arbitration Court of the City of Moscow its earlier claim to invalidate the above mentioned Order by the FAS.
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For further details please contact |
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Anna Kareva IR Director Tel.: +7 (495) 502-9751 e-mail: [email protected] |
Elena Cherkalova PR Manager Теl.: +7 (495) 950-5577 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. The Company further strengthened its leadership on 26 June 2008 by completing the acquisition of Karusel hypermarket chain.
As at 30 June 2008, X5 operated 991 store located in Moscow, St. Petersburg, other regions of European Russia and the Urals, as well as in Ukraine. X5's multiformat store network comprises 762 soft discount stores under "Pyaterochka" brand, 190 supermarkets under "Perekrestok" brand and 39 hypermarkets under "Karusel" and "Perekrestok" brands.
As of 30 June 2008, X5's franchisees operated 710 stores across Russia and in Kazakhstan.
X5's net sales for the full year 2007 reached USD 5,320 mln, an increase of 53% year-on-year. Gross profit for the period totaled USD 1,404 mln, EBITDA amounted to USD 479 mln. Full year 2007 net income reached USD 144 mln.
X5 Retail Group N.V.'s net sales for the first half 2008 surged 60% in USD terms and reached USD 3,766 mln (excluding Karusel). Gross profit for the period totaled USD 978 mln, EBITDA amounted to USD 351 mln, net income reached USD 161 mln.
Including Karusel on pro-forma basis the Company's net sales for the first half 2008 totaled USD 4,326 mln, gross profit amounted to USD 1,115 mln, EBITDA - to USD 388 mln and net income - to USD 153 mln.
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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