OREANDA-NEWS. On 21 April 2009 X5 Retail Group N.V., Russia's largest retailer in terms of sales (LSE ticker: “FIVE”), announced its audited IFRS results for the fourth quarter and full year ended 31 December 2008.

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;

Full text watch here.