REG - X5 Retail Group N.V - X5 reports 27.3% revenue growth in Q1 2024
22/04/2024 08:00
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RNS Number : 3872L X5 Retail Group N.V. 22 April 2024
X5 reports 27.3% revenue growth in Q1 2024, 6.3% adj. EBITDA margin pre-IFRS 16
+ 27.3 % y-o-y
Revenue growth in Q1 2024
driven by solid like-for-like (LFL)(1) sales and selling space expansion
+81.7% y-o-y
Digital business (express delivery, Vprok.ru, 5Post and Mnogo Lososya) net
sales growth in Q1 2024
Digital business net sales amounted to RUB 46.5 billion, which comprised 5.3%
of consolidated Q1 2024 revenue
23.7 % -4 b.p.
Gross margin pre-IFRS 16(2) in Q1 2024
predominantly driven by higher logistics costs
6.3% +48 b.p.
Adjusted EBITDA(3) margin pre-IFRS 16 in Q1 2024
2.7% +96 b.p.
Net profit margin pre-IFRS 16 in Q1 2024
0.85x
Net debt/EBITDA(4) ratio pre-IFRS 16 as of 31 March 2024
Amsterdam, 22 April 2024 - X5 Retail Group N.V. ("X5" or the "Company", LSE
and MOEX ticker: FIVE), a leading Russian food retailer that operates the
Pyaterochka, Perekrestok and Chizhik retail chains, today released its
unaudited condensed consolidated interim financial information for the three
months ended 31 March 2024, in accordance with International Financial
Reporting Standards, as adopted in the European Union.
Key financial results highlights(5) (pre-IFRS 16)
RUB mln Q1 2024 Q1 2023 change, y-o-y, %
Revenue 886,220 696,364 27.3
incl. net retail sales(6) 880,300 693,481 26.9
Pyaterochka (incl. express delivery)(7) 686,513 548,912 25.1
Perekrestok (incl. express delivery) 120,638 101,442 18.9
Chizhik 45,640 18,744 143.5
Gross profit 209,603 164,949 27.1
Gross profit margin, % 23.7 23.7 (4) b.p.
Adj. EBITDA 55,471 40,236 37.9
Adj. EBITDA margin, % 6.3 5.8 48 b.p.
EBITDA 55,266 39,504 39.9
EBITDA margin, % 6.2 5.7 56 b.p.
Operating profit 33,249 19,332 72.0
Operating profit margin, % 3.8 2.8 98 b.p.
Net profit 24,015 12,172 97.3
Net profit margin, % 2.7 1.7 96 b.p.
Revenue
Revenue growth reached 27.3% year-on-year in Q1 2024. Net retail sales
increased by 26.9%, driven by a combination of 12.3% selling space growth and
14.8% LFL sales growth, while X5's digital business sales grew by 81.7% y-o-y.
Selling space by format, square metres (sqm)
SELLING SPACE, AS AT 31-MAR-24 AS AT 31-DEC-23 CHANGE AS AT 31-MAR-23 CHANGE
SQUARE METRES (SQ. M) VS 31-DEC-23, % VS 31-MAR-23, %
Pyaterochka(8) 8,438,777 8,339,205 1.2 7,634,733 10.5
Perekrestok 1,087,760 1,084,913 0.3 1,068,031 1.8
Chizhik 476,222 442,110 7.7 174,368 173.1
Joint dark stores 10,258 10,258 - 10,258 -
X5 Group(9) 10,335,915 10,206,011 1.3 9,203,045 12.3
Q1 2024 LFL store performance by format, % change y-o-y
In Q1 2024, LFL sales increased by 14.8% year-on-year, supported by solid LFL
results for Pyaterochka and Perekrestok at 14.6% and 16.8%, respectively.
The LFL basket was the main driver of LFL sales in Q1 2024, with LFL traffic
in positive territory at 2.9% year-on-year.
SALES TRAFFIC BASKET
Pyaterochka 14.6 3.0 11.2
Perekrestok 16.8 3.4 13.0
X5 Group(10) 14.8 2.9 11.6
For more details on net retail sales performance, please refer to X5's Q1 2024
Trading Update
(https://www.x5.ru/wp-content/uploads/2024/04/q1_2024_trading_update_eng.pdf)
.
(https://www.x5.ru/ru/PublishingImages/Pages/Media/News/Trading_Update_Q3%202021__RUS.pdf)
(https://www.x5.ru/ru/PublishingImages/Pages/Media/News/Trading_Update_Q3%202021__RUS.pdf)
(https://www.x5.ru/ru/PublishingImages/Pages/Media/News/Trading_Update_Q3%202021__RUS.pdf)
Gross profit margin
Gross profit margin pre-IFRS 16 decreased by 4 b.p. year-on-year to 23.7% in
Q1 2024, mainly due to higher logistics and transportation costs, partially
offset by increased commercial margins on the back of assortment and
promotions optimisation.
Selling, general and administrative (SG&A) expenses (excl. D&A&I)
(pre-IFRS 16)
RUB mln Q1 2024 Q1 2023 change, y-o-y, %
Staff costs (74,996) (61,198) 22.5
% of revenue 8.5 8.8 (33) b.p.
incl. LTI, share-based payments and other employee incentives (205) (732) (72.0)
staff costs excl. LTI and other employee incentives as % of revenue 8.4 8.7 (24) b.p.
Lease expenses (37,052) (31,357) 18.2
% of revenue 4.2 4.5 (32) b.p.
Utilities (18,784) (16,868) 11.4
% of revenue 2.1 2.4 (30) b.p.
Other store costs (7,807) (6,366) 22.6
% of revenue 0.9 0.9 (3) b.p.
Third-party services (6,308) (4,086) 54.4
% of revenue 0.7 0.6 13 b.p.
Other expenses (15,882) (10,270) 54.6
% of revenue 1.8 1.5 32 b.p.
SG&A (excl. D&A&I) (160,829) (130,145) 23.6
% of revenue 18.1 18.7 (54) b.p.
SG&A (excl. D&A&I, LTI, share-based payments and other employee (160,624) (129,413) 24.1
incentives)
% of revenue 18.1 18.6 (46) b.p.
In Q1 2024, SG&A expenses excluding D&A&I, LTI, share-based
payments and other employee incentives pre-IFRS 16 as a percentage of revenue
decreased by 46 b.p. to 18.1%, mainly driven by decreased staff costs, lease
expenses, utilities and other store costs as a percentage of revenue.
Staff costs (excluding LTI, share-based payments and other employee
incentives) as a percentage of revenue decreased by 24 b.p. year-on-year in Q1
2024 to 8.4%, mainly due to a shift in the calendarisation of salary
indexation.
LTI, share-based payment and other employee incentives expenses amounted to
RUB 205 million in Q1 2024, down by 72.0% from RUB 732 million in Q1 2024 as a
result of the completion of the 2021-2023 LTI program.
Lease expenses pre-IFRS 16 as a percentage of revenue in Q1 2024 decreased by
32 b.p. year-on-year to 4.2%, mainly due to a positive operating leverage
effect for fixed lease rates, partially compensated by a higher number of
revenue-linked leases.
Utilities costs as a percentage of revenue in Q1 2024 decreased by 30 b.p.
year-on-year to 2.1%, driven by the optimisation of electricity consumption
and cleaning costs.
Other store costs pre-IFRS 16 as a percentage of revenue in Q1 2024 decreased
by 3 b.p. year-on-year, mainly due to a positive operating leverage effect.
Third-party service expenses pre-IFRS 16 as a percentage of revenue in Q1 2024
increased by 13 b.p. year-on-year to 0.7%, mainly due to higher marketing
expenses.
Other expenses pre-IFRS 16 as a percentage of revenue in Q1 2024 increased by
32 b.p. year-on-year to 1.8%, due to a growing share of courier service costs
and aggregator commissions for express delivery.
Lease/sublease and other income(11)
As a percentage of revenue, the Company's income from leases, subleases and
other operations pre-IFRS 16 totalled 0.7%, representing an increase of 6 b.p.
year-on-year in Q1 2024. This was driven by higher income from sales of
recyclables and transportation services, partially compensated by lower
sublease income.
EBITDA and EBITDA margin (pre-IFRS 16)
RUB mln Q1 2024 Q1 2023 change, y-o-y, %
Gross profit 209,603 164,949 27.1
Gross profit margin, % 23.7 23.7 (4) b.p.
SG&A (excl. D&A&I, LTI, share-based payments and other employee (160,624) (129,413) 24.1
incentives)
% of revenue 18.1 18.6 (46) b.p.
Impairment loss on financial assets (69) (66) 4.5
% of revenue (0.01) (0.01) 0 b.p.
Lease/sublease and other income 6,561 4,766 37.7
% of revenue 0.7 0.7 6 b.p.
Adj. EBITDA 55,471 40,236 37.9
Adj. EBITDA margin, % 6.3 5.8 48 b.p.
LTI, share-based payments and other employee incentives (205) (732) (72.0)
% of revenue 0.0 0.1 (8) b.p.
EBITDA 55,266 39,504 39.9
EBITDA margin, % 6.2 5.7 56 b.p.
D&A&I
Depreciation, amortisation and impairment costs pre-IFRS 16 decreased as a
percentage of revenue by 41 b.p. year-on-year to 2.5% in Q1 2024, totalling
RUB 22,017 million. This was mainly due to the fact that revenue growth
outpaced growth in the gross book value of assets.
Non-operating gains and losses (pre-IFRS 16)
RUB mln Q1 2024 Q1 2023 change, y-o-y, %
Operating profit 33,249 19,332 72.0
Net finance costs (2,118) (3,160) (33.0)
Net FX result (361) (736) (51.0)
Profit before tax 30,770 15,436 99.3
Income tax expense (6,755) (3,264) 107.0
Net profit 24,015 12,172 97.3
Net profit margin, % 2.7 1.7 96 b.p.
Net finance costs pre-IFRS 16 in Q1 2024 decreased by 33.0% year-on-year to
RUB 2,118 million, driven by higher interest income on short-term financial
investments, partially compensated by higher interest costs due to increased
interest rates on the Russian capital market.
The negative net FX result totalled RUB 361 million pre-IFRS 16 in Q1 2024,
compared with negative RUB 736 million in Q1 2024, due to the depreciation of
the rouble.
In Q1 2024, income tax expense pre-IFRS 16 increased twofold year-on-year due
to increased profit before tax.
Key cash flow highlights (pre-IFRS 16)
RUB mln Q1 2024 Q1 2023 change,
y-o-y, % or multiple
Net cash from operating activities before changes in working capital 55,246 39,447 40.1
Change in working capital (12,043) (30,699) (60.8)
Net interest and income tax paid (14,457) (8,651) 67.1
Net cash flows generated from operating activities 28,746 97 296x
Net cash used in investing activities (36,059) (17,200) 109.6
Net cash generated from financing activities 3,598 12,845 (72.0)
Effect of exchange rate changes on 5 122 (95.9)
cash and cash equivalents
Net increase in cash and cash equivalents (3,710) (4,136) (10.3)
In Q1 2024, the Company's net cash from operating activities before changes in
working capital pre-IFRS 16 increased by RUB 15,799 million and totalled RUB
55,246 million. The lower negative change in working capital pre-IFRS 16 of
RUB 12,043 million in Q1 2024 vs. RUB 30,699 million in Q1 2023 was mainly
driven by an increase in trade account payables due to the effect of
non-working days at the end of March 2024, and was partially offset by an
increase in accounts receivable due to a more even distribution of bonuses
from suppliers compared to Q1 2023; an increase in inventories at the end of
March 2024, driven by a low base effect at the beginning of the period; as
well as payments under the 2021-2023 LTI programme.
Working capital highlights (IFRS 16)
RUB mln 31-Mar-24 31-Dec-23 31-Mar-23
Inventories 245,067 236,439 213,201
Trade, other accounts receivable and prepayments 24,741 27,924 17,831
Trade accounts payable 291,605 290,232 206,943
Provisions and other liabilities 142,864 157,071 128,160
Short-term contract liabilities 1,607 1,458 3,071
Net interest and income tax paid pre-IFRS 16 in Q1 2024 increased by 67.1%
year-on-year and totalled RUB 14,457 million. This was due to an increase in
interest rates on the Russian capital market on the back of the key rate
increase, as well as an increase in income tax due to business growth.
As a result, net cash flow generated from operating activities pre-IFRS 16
totalled RUB 28,746 million in Q1 2024, up from RUB 97 million in Q1 2024.
In Q1 2024, net cash used in investing activities pre-IFRS 16, which
predominantly consists of payments for property, plant and equipment,
increased to RUB 36,059 million due to payments for the IT equipment, bakeries
and coffee points for the Pyaterochka chain, as well as an increase in the
number of refurbishments.
Net cash generated from financing activities pre-IFRS 16 totalled RUB 3,598
million in Q1 2024, compared with net cash generated from financing activities
of RUB 12,845 million in Q1 2024.
Liquidity update
RUB mln 31-Mar-24 % of total 31-Dec-23 % of total 31-Mar-23 % of total
Pre-IFRS 16
Total debt(12) 233,846 228,229 247,390
Short-term debt 98,952 42.3 100,833 44.2 99,989 40.4
Long-term debt 134,894 57.7 127,396 55.8 147,401 59.6
Net debt(12) 196,781 187,454 208,271
Net debt/ EBITDA 0.85x 0.87x 1.13x
IFRS 16
Lease liabilities 670,271 670,961 597,204
Net debt/ EBITDA 2.38x 2.49x 2.65x
The Company's net debt / EBITDA ratio pre-IFRS 16 was 0.85x as of 31 March
2024.
The Company's debt pre-IFRS 16 is 100% denominated in Russian roubles.
As of 31 March 2024, the Company had access to RUB 571,105 million in
available lines of credit with major banks.
Effect of IFRS 16 on X5 Group's financial statements
Effect on gross profit
Gross profit and gross margin under IFRS 16 are higher by RUB 2,957 million
and 33 b.p. compared to pre-IFRS 16 in Q1 2024, respectively, due to the lease
for distribution centres, which is a part of cost of sales pre-IFRS 16 but is
excluded from the gross profit calculation under IFRS 16 in order to align the
presentation of depreciation of right-of-use assets and other assets.
Effect on EBITDA, operating profit and finance costs
Lease expenses, other store costs, third party services and other expenses in
the total amount of RUB 32,171 million are excluded from SG&A expenses
under IFRS 16 in Q1 2024. Additional depreciation of RUB 21,453 million
related to leased assets has been added to SG&A costs under IFRS 16 in Q1
2024.
Net financial costs under IFRS 16 in Q1 2024 exceed the pre-IFRS 16 amount by
RUB 17,803 million due to the interest expense on lease liabilities.
IFRS 16 increases the Company's EBITDA significantly, as lease expenditure
previously recognised in the income statement is excluded. Adjusted EBITDA
margin under IFRS 16 is 400 b.p. higher compared to the pre-IFRS 16 amount in
Q1 2024. Interest expense on liabilities is recognised in finance costs, below
the EBITDA level under IFRS 16.
Effect on net profit
The negative net FX result under IFRS 16 is RUB 138 million higher compared to
the pre-IFRS 16 amount in Q1 2024 due to the revaluation of foreign currency
liabilities resulting from lease contracts denominated in foreign currencies.
IFRS 16 results in lower income tax expense due to lower profit before tax.
The effective tax rate under IFRS 16 is 22.2% in Q1 2024.
Net profit and net profit margin under IFRS 16 are lower by RUB 3,144 million
and 35 b.p. compared to pre-IFRS 16 amount in Q1 2024 as a result of
additional depreciation and interest expense.
Effect on cash flow statement
IFRS 16 affects the presentation of the cash flow statement but not the net
change in cash result, as principal payments on leases are classified as
financing activities, prepayments are classified as investing activities, and
interest payments are considered interest paid in operating activities.
APPENDIX
Key financial results highlights (IFRS 16)
RUB mln Q1 2024 Q1 2023 change, y-o-y, %
Revenue 886,220 696,364 27.3
incl. net retail sales(1)(3) 880,300 693,481 26.9
Pyaterochka (incl. express delivery)(1)(4) 686,513 548,912 25.1
Perekrestok (incl. express delivery) 120,638 101,442 18.9
Chizhik 45,640 18,744 143.5
Gross profit 212,560 167,231 27.1
Gross profit margin, % 24.0 24.0 (3) b.p.
Adj. EBITDA(1)(5) 90,935 70,923 28.2
Adj. EBITDA margin, % 10.3 10.2 8 b.p.
EBITDA(1)(6) 90,730 70,191 29.3
EBITDA margin, % 10.2 10.1 16 b.p.
Operating profit 47,260 30,516 54.9
Operating profit margin, % 5.3 4.4 95 b.p.
Net profit 20,871 9,696 115.3
Net profit margin, % 2.4 1.4 96 b.p.
Selling, general and administrative (SG&A) expenses (excl. D&A&I)
(IFRS 16)
RUB mln Q1 2024 Q1 2023 change, y-o-y, %
Staff costs (74,996) (61,198) 22.5
% of revenue 8.5 8.8 (33) b.p.
incl. LTI, share-based payments and other employee incentives (205) (732) (72.0)
staff costs excl. LTI and other employee incentives as % of revenue 8.4 8.7 (24) b.p.
Lease expenses (7,831) (5,271) 48.6
% of revenue 0.9 0.8 13 b.p.
Utilities (18,784) (16,868) 11.4
% of revenue 2.1 2.4 (30) b.p.
Other store costs (7,584) (6,153) 23.3
% of revenue 0.9 0.9 (3) b.p.
Third-party services (6,396) (4,144) 54.3
% of revenue 0.7 0.6 13 b.p.
Other expenses (13,067) (8,390) 55.7
% of revenue 1.5 1.2 27 b.p.
SG&A (excl. D&A&I) (128,658) (102,024) 26.1
% of revenue 14.5 14.7 (13) b.p.
SG&A (excl. D&A&I, LTI, share-based payments and other employee (128,453) (101,292) 26.8
incentives)
% of revenue 14.5 14.5 (5) b.p.
EBITDA and EBITDA margin (IFRS 16)
RUB mln Q1 2024 Q1 2023 change, y-o-y, %
Gross profit 212,560 167,231 27.1
Gross profit margin, % 24.0 24.0 (3) b.p.
SG&A (excl. D&A&I, LTI, share-based payments and other employee (128,453) (101,292) 26.8
incentives)
% of revenue 14.5 14.5 (5) b.p.
Impairment loss on financial assets (69) (66) 4.5
% of revenue (0.01) (0.01) 0 b.p.
Lease/sublease and other income 6,897 5,050 36.6
% of revenue 0.8 0.7 5 b.p.
Adj. EBITDA 90,935 70,923 28.2
Adj. EBITDA margin, % 10.3 10.2 8 b.p.
LTI, share-based payments and other employee incentives (205) (732) (72.0)
% of revenue 0.0 0.1 (8) b.p.
EBITDA 90,730 70,191 29.3
EBITDA margin, % 10.2 10.1 16 b.p.
Non-operating gains and losses (IFRS 16)
RUB mln Q1 2024 Q1 2023 change, y-o-y, %
Operating profit 47,260 30,516 54.9
Net finance costs (19,921) (16,763) 18.8
Net FX result (499) (1,411) (64.6)
Profit before tax 26,840 12,342 117.5
Income tax expense (5,969) (2,646) 125.6
Net profit 20,871 9,696 115.3
Net profit margin, % 2.4 1.4 96 b.p.
Key cash flow highlights (IFRS 16)
RUB mln Q1 2024 Q1 2023 change,
y-o-y, % or multiple
Net cash from operating activities before changes in working capital 90,375 69,843 29.4
Change in working capital (11,900) (30,879) (61.5)
Net interest and income tax paid (32,231) (22,227) 45.0
Net cash flows generated from operating activities 46,244 16,737 3x
Net cash used in investing activities (35,839) (17,076) 109.9
Net cash generated from/(used in) financing activities (14,120) (3,919) 4x
Effect of exchange rate changes on 5 122 (95.9)
cash and cash equivalents
Net increase in cash and cash equivalents (3,710) (4,136) (10.3)
Notes
1. LFL comparisons of retail sales between two periods are comparisons
of retail sales in local currency (including VAT) generated by the relevant
stores. The stores that are included in LFL comparisons are those that have
operated for at least 12 full months. Their sales are included in LFL
calculations starting from the day of the store's opening. We include all
stores that fit our LFL criteria in each reporting period. Express delivery
sales from stores and dark stores that have operated for less than 12 full
months are also included in LFL calculations.
2. The pre-IFRS 16 financial measures are calculated by adjusting the
applicable IFRS measures to include fixed lease expenses and fixed non-lease
components of lease contracts, and to exclude any gain on derecognition of
right-of-use assets and lease liabilities, depreciation of right-of-use assets
and interest on lease liabilities, and gain/loss from asset sale and leaseback
operations for the proportion of rights retained as recognised under IFRS 16.
3. Adjusted EBITDA pre-IFRS 16 is EBITDA pre-IFRS 16 before costs
related to the LTI programme, share-based payments and other employee
incentives.
4. Earnings before finance income and expenses, income tax expense,
depreciation and amortization and the effect of impairment of property, plant
and equipment, investment property, other intangible assets and goodwill.
5. Please note that in this and other tables and in the text of this
press release, immaterial deviations in the calculation of % changes,
subtotals and totals are due to rounding.
6. Net retail sales represent revenue from the operations of X5-managed
stores net of VAT. This number differs from revenue, which includes proceeds
from wholesale operations, direct franchisees (royalty payments) and other
revenue. Including Mnogo Lososya, Vprok.ru, Krasny Yar and Slata.
7. Including Pokupochka, PokupALKO, Victoria, Kvartal, Deshevo and CASH.
8. Including Pokupochka, PokupALKO, Victoria, Kvartal, Deshevo and CASH.
9. Including Vprok.ru dark stores, Mnogo Lososya dark kitchens, and
Krasny Yar and Slata stores.
10. Excluding Vprok.ru and Mnogo Lososya; including Chizhik, Krasny Yar and
Slata.
11. Mainly consists of lease/sublease income, income from the sale of
recyclable materials, income from transportation services and other one-off
gains.
12. Including leasing obligations.
13. Net retail sales represent revenue from the operations of X5-managed
stores net of VAT. This number differs from revenue, which includes proceeds
from wholesale operations, direct franchisees (royalty payments) and other
revenue. Including Mnogo Lososya, Vprok.ru, Krasny Yar and Slata.
14. Including Pokupochka, PokupALKO, Victoria, Kvartal, Deshevo and CASH.
15. Adjusted EBITDA is EBITDA before costs related to the LTI programme,
share-based payments and other employee incentives.
16. Earnings before finance income and expenses, income tax expense,
depreciation and amortisation and the effect of impairment of property, plant
and equipment, right-of-use assets, investment property, other intangible
assets and goodwill.
Note to Editors
X5 Retail Group N.V. (LSE and MOEX: FIVE; Expert RA - ruAAA; ACRA - AAA(RU))
is a leading Russian food retailer. The Company operates proximity stores
under the Pyaterochka brand, Perekrestok supermarkets and Chizhik hard
discounters. X5 provides an omnichannel experience to its customers,
integrating retail stores and e-commerce through its businesses Vprok.ru,
5Post, express delivery and Mnogo Lososya.
As of 31 March 2024, X5 had 24,884 Company-operated stores. It has the leading
market position in both Moscow and St Petersburg and a significant presence in
the European part of Russia, as well as a growing presence in the Russian Far
East. Its store base includes 21,593 Pyaterochka proximity stores, 978
Perekrestok supermarkets, 1,616 Chizhik hard discounters and 612 Krasny Yar
and Slata stores. The Company operates 61 DCs and 5,504 Company-owned trucks
across the Russian Federation.
X5 is one of the largest employers in Russia. The Company employs over 378
thousand people.
For the full year 2023, revenue totalled RUB 3,145,859 million (USD 36,903
million*), EBITDA pre-IFRS 16 reached RUB 214,764 million (USD 2,519
million*), and net profit pre-IFRS 16 for the period amounted to RUB 90,284
million (USD 1,059 million*). In Q1 2024, revenue totalled RUB 886,220 million
(USD 9,766 million**), EBITDA pre-IFRS 16 reached RUB 55,266 million (USD 609
million**), and net profit pre-IFRS 16 amounted to RUB 24,015 million (USD 265
million**).
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 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 Group N.V. speak
only as of the date of this announcement. Save as required by any applicable
laws or regulations, X5 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.
• FX rate: 85.2466 USD/RUB
• FX rate: 90.7471 USD/RUB
For further details, please contact:
Polina Ugryumova
Head of Corporate Finance and IR
Tel.: +7 (495) 662-88-88 ext. 13-312
e-mail: Polina.Ugryumova@x5.ru (mailto:Polina.Ugryumova@x5.ru)
Maria Yazeva
Investor Relations Officer
Tel.: +7 (495) 662-88-88 ext. 13-147
e-mail: Maria.Yazeva@x5.ru (mailto:Maria.Yazeva@x5.ru)
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. END QRFUKOSRSUUSAARRecent news on X5 Retail NV
See all newsREG - X5 Retail Group N.V - Court issues full decision on X5's subsidiary
AnnouncementREG - X5 Retail Group N.V - X5 acquires Nice Ice production facility
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AnnouncementREG - X5 Retail Group N.V - X5 Group publishes its 2023 Sustainability Report
AnnouncementREG - X5 Retail Group N.V - X5's rights in Russian subsidiary suspended
Announcement