27th Nov 2009 07:00
X5 Supervisory board
RECommends shareholders' meetingto extend lev khasis' term as ceo for four years
Amsterdam, 27 November 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 recommend to X5's General Meeting of Shareholders to extend Lev Khasis' term as the CEO, which expires in May 2010, for another four years.
Chairman of X5's Supervisory Board Hervé Defforey commented:
"Lev Khasis has played a key role in creating X5 Retail Group in 2006 and shaping the Company into what it is today - Russia's number one retailer and the most successful multi-format operator. The Supervisory Board looks forward to having Lev Khasis bring X5 to the next level of development over his next term."
|
For further details please contact |
|
|
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 September 2009, X5 had 1,217 Company-managed stores located in Moscow, St. Petersburg and other regions of European Russia, Urals and Ukraine, including 952 soft discount stores, 210 supermarkets and 55 hypermarkets. As at 30 September 2009, X5's franchisees operated 586 stores across Russia.
For the full year 2008, X5's net sales including acquired Karusel business on a pro-forma basis totaled 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 totaled USD 3,978 mln, EBITDA reached USD 347 mln, and net profit amounted to USD 48 mln. For the nine months 2009, net retail sales totaled USD 6,053 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