X5 Corporate Center · RUS:X5
X5 Corporate Center — X5 Group — Q4 2024 Earnings Presentation
29 slides from X5 Corporate Center's earnings presentation, 2025
Slide 1: Investor Presentation
UWscGroup Investor Presentation
Slide 2: Disclaimer
2 Disclaimer This presentation does not constitute or form part of and This presentation includes statements that are, or may The information and opinions contained in this should not be construed as an advertisement of be deemed to be, “forward- looking statements”, with document are provided as at
Slide 3: Focus on the fastest-growing market segment
3 Focus on the fastest-growing market segment Diverse grocery business with growth potential across convenience, hard discounter and online segments 2024 2025E 2 p.p. 25% 27% 31% 32% 1 p.p. 17% 18% 15% 1 p.p. 13% 2 p.p. 5% 5% 6% 6% 56% 1 p.p. 57% 1 p.p. share of grocery market 1 p.p. share of grocer
Slide 4: Market consolidation is the key source of growth for the top players
4 Market consolidation is the key source of growth for the top players Potential for growth in the market shares of top-5 players* Continued shift to modern trade and the growing role of nationwide players 76% 75% Globus Svaz 1.7% 7.0% 21% 20% 19% 18% Aldi 22% Tesco 13.3% 9.5% 62% 61% Auchan 57% 4.2
Slide 5: Macro-trend: Online
5 Macro-trend: Online market, RUB bln MARKET GROWTH DRIVERS TRENDS IN CONSUMER Online PREFERENCES +32.3% +34.2% E-grocery share continues to grow, current run-rate estimates at least twofold growth by 2028. 3,920 2,979 Regions is a key growth The option to buy potential online is becoming a standard
Slide 6: X5 is a leading Russian food retailer: 12M 2024 Highlights
6 X5 is a leading Russian food retailer 12M 2024 Highlights #1 Russian 15.6% market share 27,015 stores >417 ths food retailer by revenue vs 12.6% in 2020 in 74 Russian regions employees +10.4% y-o-y Loyal 84.5 mln 43.1 mln >22 mln customer base active loyalty card users MAUs of X5 digital services
Slide 7: X5 has a leading position in offline
7 X5 has a leading position in offline TOP 10 Russian grocery retailers TOP 10 Russian e-grocery players Company Market share in 2024 Company Market share in 2024 1 15.6% 1 16.4% 2 11.0% 2 16.1% 3 6.2% 3 14.2% 4 3.3% 4 9.7% 5 1.4% 5 9.0% 6 1.4% 6 8.9% 7 1.0% 7 4.9% 8 0.9% 8 4.7% 9 0.8% 9 1.9% 10 0.8
Slide 8: X5 businesses
8 X5 businesses 83 986 Supermarkets Dark kitchens (incl. 1 franchisee) 2,346 Hard discounter stores Subscription service 1,001 Stores 612 Stores 27,666 Parcel lockers and pickup points Loyalty programme 22,9761 3 8,825 Proximity stores Large dark stores Stores 36 Dark stores 1. Including one Café Py
Slide 9: Pyaterochka proximity stores
9 Pyaterochka Proximity stores 77 % Share of revenue (12M 2024) 22,9761 >4 THS 389 SQM Stores SKUs Average selling space 1. Including one Café Pyaterochka at a DC
Slide 10: Perekrestok supermarkets
10 Perekrestok Supermarkets 13 % Share of revenue (12M 2024) 986 11–14 THS 1,112 SQM Stores SKUs Average selling space
Slide 11: Chizhik hard discounter stores
11 Chizhik Hard discounter stores 6% Share of revenue (12M 2024) 2,346 750-800 293 SQM Stores SKUs Average selling space
Slide 12: Track record of strong operational performance…
12 Track record of strong operational performance… Net retail sales dynamics, RUB bln Selling space, ths sqm 8.4% CAGR 2020-2024: 18.4% 24.0% CAGR 2020-2024: 9.0% 11,062 3,880 10,206 9,107 3,129 8,410 7,840 2,596 2,194 1,973 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 LFL sales, % y-o-y growth
Slide 13: …supported by robust profitability
13 …supported by robust profitability1 Revenue CAGR exceeding 18% in 2020-24 Stable growth of adj. ROIC2 CAGR 2020-2024: 18.6% 24.2% 30.3% 3,908 27.4% 3,146 2,605 2,205 19.2% 1,978 16.1% 17.1% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 Adj. EBITDA margin1 consistently above 6.5% Positive FCF
Slide 14: Growth and profitability supported by improving sales density
14 Growth and profitability supported by improving sales density Maintain sales density leadership in proximity segment in key geographies (Moscow and St Petersburg) Unit: ’000 RUB/sqm (annualised) Overall +12.4% Moscow & Moscow region +11.3% 489 476 367 465 357 348 453 338 327 439 Q4 2023 Q1 2024 Q
Slide 15: Strategic goals
15 Strategic goals Social Business Long-term growth responsibility and Leadership in online Technological diversification and in shareholder value Attracting and leadership in and offline retail leadership in the creation of new retaining the best sustainable industry sources of growth employees dev
Slide 16: X5's presence at each step of the customer journey
16 X5’s presence at each step of the customer journey Unified loyalty programme and the X5 ID service Leader in the proximity store segment Leader in the supermarket segment Top-2 in the hard discounter segment Subscription and benefits service Direct small format franchise Retail-focused media
Slide 17: X5 updated its strategic ESG goals to 2025
17 X5 updated its strategic ESG goals to 2025 Planet Health Employees Communities -15% 80% 10% 2025 goal: 2025 goal: 2025 goal: 2025 goal: Reduce GHG emissions (Scope 1 and 2) intensity Increase sales of healthy Grow the number of beneficiaries of food aid Maintain an employee engagement rate of at
Slide 18: Q4 2024 Results
Ueeroup Q4 2024 Results
Slide 19: Double-digit top-line growth supported by strong LFL sales dynamics…
19 Double-digit top-line growth supported by strong LFL sales dynamics… Net retail sales1 Traffic, mln customers Net selling space (eop) 27.0% 2,153 12.1% 12.3% 24.7% 25.2% 10.5% 22.9% 21.8% 2,096 2,087 8.8% 8.4% 1,880 1,821 11,062 1,059 10,727 958 969 10,539 10,206 10,336 870 876 Q4 2023 Q1 2024 Q2
Slide 20: …combined with stable profitability
20 …combined with stable profitability Revenue SG&A (excl. D&A&I, LTI and other employee 25.0% 27.3% 25.1% 22.9% 22.3% incentives) 18.6% 18.1% 17.5% 17.7% 18.7% 1,077.8 965.5 978.6 15.5% 881.2 886.2 201.7 169.1 173.0 166.8 163.7 160.5 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q4 2023 Q1 2024 Q2 2024 Q
Slide 21: Q4 2024: Adjusted SG&A expense analysis
21 Q4 2024: Adjusted SG&A1 expense analysis Q4 2024 analysis Key Q4 2024 highlights as a percentage of revenue Lease expenses: a positive operating leverage effect for fixed lease rates and partially compensated by a higher expenses of 18.6% 13 b.p. 18.7% revenue-linked leases. 1.2% 19 b.p. 1.4% Thi
Slide 22: X5 capital expenditures
22 X5 capital expenditures Capex breakdown, 2024 Capex dynamics by year, RUB bln 13% 4.7% 4.7% 4.5% 4.4% 31% 4.3% 3% New store openings 3.1% 166.4 7% Logistics 148.4 Refurbishments 166.4 RUB bln 97.9 +12.1% y-o-y Maintenance 89.9 81.1 82.0 7% IT M&A Other, including new business 2019 2020 2021 2022
Slide 23: X5 debt structure
23 X5 debt structure Debt profile Debt portfolio maturity RUB mln 31 Dec 2024 31 Dec 2023 100% 56% Total debt 288,767 229,907 Short-term debt 162,682 101,101 % of total debt 56.3% 44.0% Long-term debt 126,085 128,806 36% % of total debt 43.7% 56.0% Net debt (pre-IFRS 16) 220,834 190,803 7% 1% 31 Dec
Slide 24: Appendix
Ueeroup Appendix
Slide 25: Pyaterochka – key format highlights (Q4 2024)
25 Pyaterochka – key format highlights (Q4 2024) Key results Operating highlights CVP 22,9761 stores +13.1% +3.5% 4,000 389 sqm +7.8% y-o-y LFL sales LFL traffic SKUs average selling space 811 RUB bln +9.4% 1,716 mln 69% 85% Net retail sales +18.2% y-o-y LFL ticket customer visits loyalty card Loyal
Slide 26: Perekrestok – key format highlights (Q4 2024)
26 Perekrestok – key format highlights (Q4 2024) Key results Operating highlights CVP 986 stores +11.5% +1.3% 11-14 ths 1,112 sqm +1.4% y-o-y LFL sales LFL traffic SKUs average selling space 137 RUB bln +10.1% 180 mln 77% 90% LFL ticket customer visits loyalty card loyalty card Net retail sales +14.
Slide 27: Chizhik – key format highlights
27 Chizhik – key format highlights 250–300 sqm ~11–12 RUB mln 750-800 SKU of store selling space net capex per store (excl. VAT) in the assortment EDLP 6 <70% price strategy employees per store share of own brand assortment Q4 2024 results 2,346 +56.4% 84 RUB bln +102.3% 685 RUB 459 RUB / sqm Stores
Slide 28: Express delivery
28 Express delivery Business model overview Key operating metrics Q4 2024 Order made by customer via GMV RUB 61.5 bln mobile app Orders per day 393.0 ths Average ticket RUB 1,652 Order received at the nearest store Stores 8,825 Click to delivery From 30 min Order assembled at the store by in-store s
Slide 29: X5 Investor Relations
X5 Investor Relations iro@x5.ru +7 (495) 662 88 88 ext. 13-147