10th Oct 2006 15:19
Pyaterochka Holding N.V.10 October 2006 This announcement replaces the Trading Statement released today at 7am underRNS Number 2139K. The number of new stores opened during Q3 was 39, not 40 as previously announced. Other changes were made due to the recalculation of figures based on the new total of 39 stores. The full amended text appears below. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN 10 October 2006 PYATEROCHKA HOLDING N.V. Q3 2006 TRADING UPDATE LIKE-FOR-LIKE SALES UP +11% FOR THE GROUP VS. Q3 2005 39 NEW STORES OPENED DURING Q3 2006 Pyaterochka Holding N.V. provided today a trading update including store openingdata and Like-for-Like ("LFL") sales trends for the Pyaterochka and Perekrestokchains for Q3 and 9M 2006. Operating Highlights Following the merger of Pyaterochka and Perekrestok in May 2006, the Groupcontinued its work on integration and realization of synergies. To increase theefficiency of the Enlarged Group a number of management functions (M&As,Finance, Communications, Logistics), were consolidated in the corporate centre,at the same time keeping reasonable margin of flexibility of each individualchain to ensure their further uninterrupted development. In August 2006, Standard & Poor's Rating Services affirmed its 'BB-' long-termcorporate credit rating for Pyaterochka Holding N.V. , and Moody's announced adowngrade of the corporate family rating of Pyaterochka Holding NV to B1 fromBa3, with a stable outlook for the rating. In September 2006, Pyaterochka Holding N.V. released its 1H 2006 preliminaryconsolidated financial results (management accounts). Group pro-forma salestotalled US$ 1,581 mln, up + 43% vs. 1H 2005; Group pro-forma gross reached26.6% vs. 24.5% in 1H 2005; Group pro-forma EBITDA increased to US$ 149 mln., up+ 52% vs. 1H 2005. Expansion Pyaterochka Holding N.V. continued its store opening programme in Q3 2006,opening 31 new soft-discount "Pyaterochka" stores and 8 new "Perekrestok"supermarkets during Q3 2006. According to its FY2006 store opening plan theGroup aims to open a total of 170 stores over the year, which corresponds toadditional net selling space of approximately 120,000 square metres. Year todate, Pyaterochka Holding N.V. gained additional net selling space ofapproximately 65,000 square metres. As of 30 September 2006, Pyaterochka HoldingN.V. operated 420 company-managed Pyaterochka soft-discount stores and 141Perekrestok stores. Moscow In Moscow, the company opened 14 new Pyaterochka stores during Q3 2006, implyinga total of 43 new Pyaterochka stores opened in Moscow year to date. Thecompany now operates a total of 199 Pyaterochka stores in the Moscow area. 4 new Perekrestok stores were opened in Moscow during Q3 2006, including 3supermarkets and 1 convenience store. Year to date, the company has opened 10new Perekrestok stores in Moscow area. As of 30 September 2006, there are atotal of 81 Perekrestok stores in the Moscow area, including 3 cityhypermarkets, 61 supermarkets and 17 convenience stores. St. Petersburg In St. Petersburg, the company opened 14 new Pyaterochka stores during Q3 2006,implying a total of 34 new Pyaterochka stores opened in St. Petersburg year todate. The company now operates a total of 199 Pyaterochka stores in the St.Petersburg area. 2 new Perekrestok stores were opened in St. Petersburg during Q3 2006. Year todate, the company has opened 7 new Perekrestok stores in St. Petersburg. As of30 September 2006, there are a total of 16 Perekrestok stores in the St.Petersburg area, including 14 supermarkets and 2 convenience stores. Russian Regions, Ukraine and Kazakhstan 2 new Perekrestok stores were opened in the regions outside of Moscow and St.Petersburg in Q3 2006, implying a total of 5 new Perekrestok stores opened inthe regions year to date. As of 30 September 2006, there are a total of 44Perekrestok stores in the regions, including 5 city hypermarkets. In Yekaterinburg, 3 new Pyaterochka stores were opened. As of 30 September 2006,there are a total of 22 Pyaterochka stores in this city. Pyaterochka's franchisees also continued to expand rapidly, opening 57 newstores operating under the Pyaterochka brand during Q3 2006. As of 30September 2006, Pyaterochka's franchisees operate 539 stores across Russia, inUkraine and Kazakhstan. Store Operations Pyaterochka Holding N.V. experienced encouraging Like-for-Like sales(*) trendsduring both Q3 2006 and 9M 2006 across both chains. Group During Q3 2006, Group LFL sales performance (including both chains) reached+11%. For 9M 2006, the group experienced LFL sales of +10%. The Pyaterochka chain experienced overall LFL sales performance of +8% during Q32006, and 7% for 9M 2006. The Perekrestok chain experienced overall LFL sales performance of +15% duringQ3 2006, and +14% for 9M 2006. Moscow LFL sales at Moscow area Pyaterochka stores reached +12% during Q3 2006,composed of traffic of +3% and an increase in the average basket of +9%.During 9M 2006, the Pyaterochka stores in Moscow experienced LFL salesperformance of +13%, composed of traffic of +2% and basket growth of +11%. LFL sales at Moscow area Perekrestok stores reached +19% during Q3 2006, on thebasis of traffic of +12% and basket growth of +7%. During 9M 2006, thePerekrestok stores in Moscow experienced LFL sales performance of +15%, composedof traffic of +8% and basket growth of +7%. St. Petersburg LFL sales at St. Petersburg area Pyaterochka stores reached +4% during Q3 2006,composed of traffic of -4% and basket growth of +8%. During 9M 2006, thePyaterochka stores in St. Petersburg experienced LFL sales performance of +2%,composed of traffic of -4% and basket growth of +6%. LFL sales at St. Petersburg area Perekrestok stores reached 5% during Q3 2006,on the basis of traffic of +10% and basket growth of -5%. During 9M 2006, thePerekrestok stores in St. Petersburg experienced LFL sales performance of +9%,composed of traffic of +10% and basket growth of -1%. Regions LFL sales at Perekrestok stores in the regions outside of Moscow and St.Petersburg reached +6% during Q3 2006, composed of traffic of 4% and basketgrowth of +2%. For 9M 2006 these stores experienced LFL sales of + 13%, basedon traffic of +6% and basket growth of +7%. Note to Editors: Pyaterochka Holding N.V. is Russia's largest food retailer in terms of sales.The group has 420 company-managed "Pyaterochka" soft discount stores located inthe Moscow (199), St. Petersburg (199) and Yekaterinburg (22) areas, and 141company-managed "Perekrestok" supermarkets across Central Russia and Ukraine,including 81 stores in Moscow, as of 30 September 2006. As of 30 September 2006, franchisees operated 539 Pyaterochka branded storesacross Russia, in Ukraine and Kazakhstan. Perekrestok has 10 convenience storesoperated by franchisees in the Moscow area. Pyaterochka and Perekrestok have merged their operations as of 18 May 2006 tocreate the clear leader in the Russian food retail market. Pyaterochka's 2005 net sales (pre-merger) reached USD 1,359 million, with grossbanner sales in 2005 of over USD 2 billion. Perekrestok net sales reached USD1,015 million in 2005. The Group's pro forma (assuming both chains contribution from 1 January 2006)net sales for the first half of 2006 were US $1,581 million (managementaccounts). During 1H 2006, the Pyaterochka chain provided US $906 million of netsales, while the Perekrestok chain contributed US $675 million of net sales. - End - Enquiries to: Pyaterochka Holding N.V. Gennady Frolov Head of Corporate Communications Office +7 495 984 6956 ext.2093 Mobile +7 495 998 3335 Email [email protected] -------------------------- (*) Measured in Roubles and applicable for stores operational on or before 1January 2005 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
X5 Retail