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WINNING CUSTOMERS
"2009 was a tough year for Russian consumers and the economy as a whole. X5's response was fast and effective. We won customers by making sure we had the right products at the most attractive prices.
Just as important, we kept our focus on X5's strategy to create durable competitive advantages and capitalise on the long-term growth of the Russian market."
Lev Khasis, Chief Executive Officer
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X5 in 2009
Nearly 1 billion Customer Visits
USD 8.7 billion in Net Sales
25% Pro-Forma Sales Growth in RUR
33% Consolidated Sales Growth in RUR
X5 at 31 December 2009
Number 1 Russian Retailer
1,372 Multi-Format Stores in Russia & Ukraine
1.1 million sq. m. in Selling Space
Operations in 45 Cities of Russia and in Ukraine
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In 2009 X5 outperformed the competition and delivered the highest like-for-like sales growth of any Russian retailer by responding to the needs of consumers:
• A record 996 million customer visits to our
stores in 2009
• Industry-leading like-for-like (LFL) sales
growth of 10%
• LFL customer traffic rose 5% – including
a market-leading 10% at discounters
• Delivered on our 2009 target of 25% pro-forma
revenue growth in RUR terms
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Financial Highlights
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2009 |
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2008(1) |
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% change, y-o-y |
| Net Sales, USD million |
8,717 |
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8,892 |
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(2) |
| Gross Profit, USD million |
2,108 |
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2,279 |
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(7) |
| Gross Margin, % |
24.2 |
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25.6 |
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| EBITDA, USD million |
736 |
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803 |
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(8) |
| EBITDA Margin, % |
8.4 |
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9.0 |
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(1) Profit & Loss figures for 2008 in this Annual Report are presented on pro-forma basis, unless otherwise stated. Pro-forma figures include results of the acquired Karusel hypermarket chain from 1 January 2008. We believe pro-forma numbers are useful because they allow investors to evaluate X5’s operating results and financial performance for different periods on a more comparable basis. These figures should be used in addition to, but not as a substitute for, the Consolidated Financial Statements included in this Annual Report, which include Karusel’s results only as from 30 Jun 2008, when the acquisition was completed.
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