X 5 Winning Customers With The Power Of 5 Investor Presentation July 2009 p. 1
Disclaimer Disclaimer This presentation does not constitute or form part of and should not be construed as an advertisement of securities, an offer or invitation to sell or issue or the solicitation of an offer to buy or acquire or subscribe for securities of X5 Retail Group N.V. or any of its subsidiaries or any depositary receipts representing such securities in any jurisdiction or an invitation or inducement to engage in investment activity in relation thereto. In particular, this presentation does not constitute an advertisement or an offer of securities in the Russian Federation. No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. No representation, warranty or undertaking, express or implied, is given by or on behalf of X5 Retail Group N.V. or any of its directors, officers, employees, shareholders, affiliates, advisers, representatives or any other person as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein or any other material discussed at the presentation. Neither X5 Retail Group N.V. nor any of its directors, officers, employees, shareholders, affiliates, advisors, representatives or any other person shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or any other material discussed at the presentation or their contents or otherwise arising in connection with the presentation. This presentation includes statements that are, or may be deemed to be, “forward-looking statements”, with respect to the financial condition, results, operations and businesses of X5 Retail Group N.V. 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, X5 Retail Group N.V’s actual future results may differ materially from the plans, goals and expectations set out in these forward-looking statements. X5 Retail Group N.V. assumes no responsibility to update any of the forward looking statements contained in this presentation. This presentation is not for distribution in, nor does it constitute an offer of securities for sale, or the solicitation of an offer to subscribe for securities in Australia, Canada, Japan or in any jurisdiction where such distribution, offer or solicitation is unlawful. Neither the presentation nor any copy of it may be taken or transmitted into the United States of America, its territories or possessions, or distributed, directly or indirectly, in the United States of America, its territories or possessions or to, or viewed by any U.S. person as defined in Regulation S under the US Securities Act 1933 (the "Securities Act”). Any failure to comply with these restrictions may constitute a violation of United States, Australian, Canadian or Japanese securities laws. The distribution of this presentation in certain jurisdictions may be restricted by law and persons into whose possession this document or any other document or other information referred to herein comes should inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities law of any such jurisdiction. For Russian law purposes, the securities mentioned in this presentation (the "Securities") represent foreign securities. It is not permitted to place or publicly circulate the Securities on the territory of the Russian Federation at present. No prospectus for the issue of the Securities has been or is intended to be registered with the Federal Service for Financial Markets of the Russian Federation. The information provided in this presentation is not intended to advertise or facilitate the offer of the Securities in the territory of the Russian Federation. This presentation does not represent an offer to acquire the Securities or an invitation to make offers to acquire the Securities. The information and opinions contained in this document are provided as at the date of this presentation and are subject to change without notice. Some of the information is still in draft form and neither X5 Retail Group N.V. nor any other party is under any duty to update or inform recipients of this presentation of any changes to such information or opinions. In particular, it should be noted that some of the financial information relating to X5 Retail Group N.V. and its subsidiaries contained in this document has not been audited and in some cases is based on management information and estimates. Neither X5 Retail Group N.V. nor any of its agents, employees or advisors intend or have any duty or obligation to supplement, amend, update or revise any of the statements contained in this presentation. p. 2
Agenda Agenda I. X5 Retail Group - Unrivalled Leadership in Russian Retail II. 2008 – Strong Growth Ahead of Expectations • Best-in-Industry Operational Performance • Financial Review III. 2009 & Beyond – Source of Strength in Russian Retail • 2009 Priorities Support X5’s Long-Term Leadership & Growth • Winning Customers with the Power of 5 • H1 2009 Operational Results • Q1 2009 Financial Review • 2009 Outlook • Long-Term View p. 3
Unrivalled Leadership in Russian Retail Unrivalled Leadership in Russian Retail • 2008 pro-forma (1) net sales - USD 8,892 mln # Company FY 2008 % in % in Total Market (4) Net Retail Top-10 • H1 2009 net retails sales – USD 3,959 mln Sales (USD mln) • 1,164 company-managed stores in Russia and X5 (1) 1. 8,844 26.1% 4.0% Ukraine (2) 2. Magnit 5,326 15.7% 2.4% • 605 stores operated by X5’s franchisees across Russia (2) 3. Metro 5,077 15.0% 2.3% 4. Auchan 4,983 14.7% 2.2% • Over 935 thousand sq. m. of net selling space (2) 5. Lenta 2,040 6.0% 0.9% FY 2008 Revenue Growth (in USD) 6. Dixy 1,923 5.7% 0.9% 57% 7. Kopeyka 1,890 5.6% 0.9% 45% 45% 36% 9. Seventh 1,549 4.6% 0.7% Continent 26% 8. Viktoria 1,228 3.6% 0.6% 10. O’Key 1,053 3.1% 0.5% Total 33,913 100.0% 15.3% X5 X5 Magnit Dixy Seventh Conso- Pro-forma Continent lidated (3) (1) Including Karusel on pro-forma basis from 1 January 2008; (2) As at 30 June 2009; (3) Including Karusel on consolidation basis from 1 July 2008; (4) Based on estimated gross sales; total market size – USD 252 bln p. 4
Multi- -Format Operations Format Operations Multi Soft Discount Soft Discount H1’09 Retail Sales Break Down by Format Stores Stores 19% As at 30 June 2009 Hypermarkets • 900 stores Soft • Total net selling space – 442,090 sq. m. Discounters • Sales per sq.m. – USD 14,328 (1) Supermarkets 53% 28% Supermarkets Supermarkets As at 30 June 2009 Total net retail sales – USD 3,959 mln • 211 stores H1’09 Selling Space Break Down by Format • Total net selling space – 226,951 sq. m. • Sales per sq.m. – USD 16,246 (1) 29% Hypermarkets Soft Hypermarkets Hypermarkets Discounters As at 30 June 2009 47% • 53 stores Supermarkets • Total net selling space – 266,791 sq.m. 24% • Sales per sq.m. – USD 9,635 (1) Total selling space – 935,832 sq. m. (1) For FY 2008 p. 5
Strong Regional Positions Strong Regional Positions Moscow & the region North-West region Sales breakdown: Sales breakdown: Hypermarkets 10% • As at 30 June, X5 was present in 42 cities 28% Hypermarkets Discounters 64% Discounters 51% of European Russia and the Urals Supermarkets 39% Supermarkets 8% Volgo-Vyatsky region • In addition to Moscow and St. Petersburg, Sales breakdown: Hypermarkets 37% 24% Discounters a leading position secured in 5 large 39% Supermarkets regional cities: Nizhny Novgorod, Lipetsk, Samara, Chelyabinsk and Perm Centralno-Chernozemny region Sales breakdown: Hypermarkets 29% 41% Discounters H1 2009 Net Retail Sales by Region Supermarkets 30% Ukraine 1% Russian Regions 18% Urals region Sales breakdown: Hypermarkets 14% Privolzhsky region 86% Discounters Moscow Sales breakdown: Sredne-Volzhsky region Discounters 3% Sales breakdown: 52% Supermarkets 25% South region Hypermarkets 25% Hypermarkets Sales breakdown: 72% Discounters 13% St. Petersburg Hypermarkets 62% Supermarkets 37% 8% Discounters 29% Supermarkets 55% X5 Existing Operations as at 30 June 2009 p. 6
Agenda Agenda I. X5 Retail Group - Unrivalled Leadership in Russian Retail II. 2008 – Strong Growth Ahead of Expectations • Best-in-Industry Operational Performance • Financial Review III. 2009 & Beyond – Source of Strength in Russian Retail • 2009 Priorities Support X5’s Long-Term Leadership & Growth • Winning Customers with the Power of 5 • H1 2009 Operational Results • Q1 2009 Financial Review • 2009 Outlook • Long-Term View p. 7
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