Russian Retail giant X5 Retail Group has announced a record revenue increase for the year 2016, outpacing market leader Magnit twofold. Full-year sales increased by 27.8% with like-for-like sales up 7.7%. The main growth driver was the company’s minimarket format Pyaterochka, whose net sales improved by 32.5% year-on-year. Meanwhile, EBITDA margin grew to 7.7%, which allowed net debt/EBITDA ratio to fall to an all-time low of 1.81x. With most of the store network refurbished to new standards, X5 believes it now has the financial leeway to focus on its strategic goal of doubling its market share by 2020.
Sebastian Rennack (Senior Retail Analyst), on 06-Apr-2017 13:25:17
Topics: X5 Retail Group