X5 Retail Group N.V.
27 October 2006
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES,
AUSTRALIA, CANADA OR JAPAN
27 October 2006
PYATEROCHKA HOLDING N.V. CHANGES ITS NAME TO X5 RETAIL GROUP N.V.
Amsterdam, 27 October 2006 - Today, an official announcement was made to the
effect that Pyaterochka Holding N.V. - Russia's leading grocery retailer in
terms of sales - shall henceforth be known as X5 Retail Group N.V.
The new name of the Group reflects the changes that have taken place in the
Company following the merger of Pyaterochka and Perekriostok retails chains in
May 2006 to create a clear leader of the Russian food retail sector. This has
also been reflected in the company's new logo - a sign representing the Roman
letter X, symbolizing multiplication, growth and crossroad ("perekriostok" in
Russian), and the historical number 5 ("pyaterochka" in Russian).
"Following the merger of Russia's leading retail chains, The Company entered a
new stage in its development which required a new, modern and dynamic name for
the Group reflecting its ambitious strategic objective to become the main
consolidator of the Russian fragmented food retail market, national champion of
the sector able to compete with multinational companies," Group CEO Lev Khasis
Note to Editors:
X5 Retail Group N.V. is Russia's largest food retailer in terms of sales. As of
30 September 2006, the group had 420 company-managed "Pyaterochka" soft discount
stores located in the Moscow (199), St. Petersburg (199) and Yekaterinburg (22)
areas, and 141 company-managed "Perekrestok" supermarkets across Central Russia
and Ukraine, including 81 stores in Moscow.
As of 30 September 2006, franchisees operated 539 Pyaterochka branded stores
across Russia, in Ukraine and Kazakhstan. Perekrestok has 10 convenience stores
operated by franchisees in the Moscow area.
Pyaterochka and Perekrestok have merged their operations as of 18 May 2006 to
create the clear leader in the Russian food retail market.
Pyaterochka's 2005 net sales (pre-merger) reached USD 1,359 million, with gross
banner sales in 2005 of over USD 2 billion. Perekrestok net sales reached USD
1,015 million in 2005.
The Group's pro forma (assuming both chains contribution from 1 January 2006)
net sales for the first half of 2006 were US $1,581 million (management
accounts). During 1H 2006, the Pyaterochka chain provided US $906 million of net
sales, while the Perekrestok chain contributed US $675 million of net sales.
Forward looking statements:
This announcement includes statements that are, or may be deemed to be, "
forward-looking statements". 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, actual future results may differ
materially from the plans, goals and expectations set out in these
Any forward-looking statements made by or on behalf of X5 Retail Group N.V.
speak only as at the date of this announcement. Save as required by any
applicable laws or regulations, X5 Retail Group N.V. undertakes no obligation
publicly to release the results of any revisions to any forward-looking
statements in this document that may occur due to any change in its expectations
or to reflect events or circumstances after the date of this document.
- End -
X5 Retail Group N.V.
Head of Corporate Communications
Office +7 495 984 6956 ext.2093
Mobile +7 495 998 3335
This information is provided by RNS
The company news service from the London Stock Exchange DFIR