16 Feb 2010 15:19
S&P UPGRADES its outlook on X5 to stable
'BB-'/'ruAA-' RATINGS AFFIRMED
Amsterdam, 16 February 2010 - X5 Retail Group N.V., Russia's largest retailer in terms of revenue (LSE ticker: "FIVE"), announced today that Standard & Poor's revised its outlook on X5 to stable from negative, and affirmed its 'BB-' long-term and 'ruAA-' national scale ratings on the Company. In its report S&P commented that "the outlook revision primarily reflects the improvement in X5's liquidity position, but also its resilient operating performance and more conservative financial policy".
For further details please contact
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Anna Kareva IR Director Tel.: +7 (495) 980-2729, ext. 22 216 e-mail: anna.kareva@x5.ru
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| Maxim Trapeznikov Head of PR Department Tel.: +7 (495) 662-8888, ext. 31 262 e-mail: maxim.trapeznikov@x5.ru
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Note to Editors:
X5 Retail Group
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 31 December 2009, X5 had 1,372 Company-managed stores located in Moscow, St. Petersburg and other regions of European Russia, Urals and Ukraine, including 1,039 soft discount stores, 275 supermarkets and 58 hypermarkets.
As at 31 December 2009, X5's franchisees operated 620 stores across Russia.
For the nine months 2009 X5's net sales totaled USD 6,081 mln, EBITDA reached USD 509 mln, and net profit amounted to USD 121 mln. For the full year 2009, net retail sales totaled USD 8,675 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.