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X5 Q2 net profit rises by 16% to $307.65 mln

X5's total debt as of June 30, 2023 was $2.33 bln

MOSCOW, August 15. /TASS/. X5 Group, which manages retail chains Pyaterochka, Perekrestok, and Chizhik, increased its IFRS net profit by 15.9% in the Q2 of 2023 year-on-year to 29.489 bln rubles ($307.65 mln), the company reported on Tuesday.

The company's EBITDA in April-June decreased by 1% and amounted to 60.872 bln rubles ($634.83 mln). Revenue increased by 19.2% to 772.043 bln rubles ($8.05 bln). EBITDA margin was 7.9% against 9.5% in the Q2 of 2022, adjusted EBITDA - 7.8% against 9.6%.

X5's net profit climbed by 36.8% in the first half of the year, totaling 41.66 bln rubles ($425.17 mln). EBITDA fell 2.9% to 100.37 bln rubles ($1.02 bln), while adjusted EBITDA fell 4% to 100.75 bln rubles ($1.03 bln). Revenue grew by 17.3%, reaching 1.47 trillion rubles ($15 bln). EBITDA margin was 6.8% in January-June 2022, compared to 8.3% the previous year; adjusted EBITDA margin was 6.9%, compared to 8.4% the previous year.

X5's total debt as of June 30, 2023 was 228.98 bln rubles ($2.33 bln), a 2.4% drop from the previous year's end figure. Net debt increased by 5.4% to 201.57 bln rubles ($2.06 bln) before applying IFRS 16. As of December 31, 2022, the Net Debt/EBITDA ratio was 1.1x, up from 1.02x.

X5 Group is the largest Russian retailer in terms of revenue. The corporation managed 22,682 stores as of June 30, 2023, including 20,248 Pyaterochka stores, 956 Perekrestok supermarkets, and 809 Chizhik "hard" discounters.

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