Amsterdam, 29 March 2018 – X5 Retail Group N.V. (“X5” or the “Company”), a leading Russian food retailer (LSE and MOEX ticker: FIVE), today released its 2017 Annual Report, including audited consolidated financial statements prepared in accordance with International Financial Reporting Standards, as adopted in the European Union.
X5’s Chief Executive Officer Igor Shekhterman said:
“We have delivered on our strategic goals, growing faster than the rest of the market while introducing further efficiency gains and adapting the business to better meet consumer needs. In 2017 we delivered positive LFL sales growth across all three formats, which comprised 5.4% for the full year.
“Despite deceleration of food inflation, we delivered strong revenue growth of 25.3% year-on-year and maintained our adjusted EBITDA margin at the same level as 2016. This enabled the Supervisory Board, in line with X5’s new dividend policy, to recommend a debut dividend of RUB 21.6 billion, which represents a dividend payout ratio of 69%. I am pleased that we are able to give back to shareholders even as we maintain our fast pace of business expansion.
“Looking ahead to 2018, we have ambitious goals to achieve in terms of growth and efficiency. The operating environment remains challenging, and we will continue to innovate and to refine the value propositions of each of our three core formats to best meet the needs of consumers in Russia in the most efficient and effective way possible.”