The Russian grocery retailer X5 Retail Group has reported net sales of RUB 155.9bn for H1 2010 – a year-on-year increase of 18%. In US dollar terms, net sales increased by 30% in the period in question and amounted to $5.2bn.
Net profit for the first half of the year amounted to $104m, up from $48.3m in H1 2009.
The EBITDA figure for the period in question was $399m and the EBITDA margin was 7.7%.
The company’s H1 2010 results were driven by the strong performance of the company’s discounter stores – these generated sales of $2.9bn, which represents an increase of 39% over the same period in 2009. The company’s hypermarkets accounted for $959m of the total figure, an increase of 28% year on year. Lev Khasis, CEO of the X5 Retail Group, feels that the supermarket format is still hampered by a downturn in trade but that it should bounce back as and when the economy recovers. Despite this, sales generated by the company’s supermarkets were up 15% year on year in H1 2010 and amounted to $1.3bn.
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