X5 Reports Full Year 2008 Results
OREANDA-NEWS. On 21 April 2009 X5 Retail Group N.V.,
Q4 2008 Highlights
Consolidated net sales increased 41% year-on-year in USD terms to USD 2.4 bln;
Pro-forma net sales grew 20% year-on-year to USD 2.4 bln;
Pro-forma gross profit increased by 15% year-on-year to USD 605 mln, for a gross margin of 25.5%;
Pro-forma EBITDA reached USD 225 mln, a year-on-year increase of 19%;
EBITDA margin totaled 9.5%;
X5 recorded USD 2.3 bln of non-cash goodwill impairment charge, resulting in a net loss for the fourth quarter 2008;
Adjusted net loss totalled USD 27 mln due to mainly non-cash foreign exchange loss;
FY 2008 Highlights
Consolidated net sales increased 57% year-on-year to USD 8.4 bln;
Pro-forma net sales surged 45% year-on-year to USD 8.9 bln;
Pro-forma gross profit increased by 41% year-on-year to USD 2.3 bln, for a gross margin of 25.6%;
Pro-forma EBITDA reached USD 803 mln, a year-on-year increase of 47%; EBITDA margin totaled 9.0%;
X5 reported a USD 2.1 bln net loss for the full year 2008 on the back of non-cash goodwill impairment charge recorded in the fourth quarter;
Adjusted net profit for the full year 2008 totalled USD 112 mln, as strong operating performance was partially offset by non-cash foreign exchange loss;
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