X5 Corporate Center · RUS:X5
X5 Corporate Center — X5 Retail Group — Q1 2013 Earnings Presentation
20 slides from X5 Corporate Center's earnings presentation, May 21, 2013
Slide 1: First Quarter 2013 Financial Results Conference Call
1 First Quarter 2013 Financial Results Conference Call Sergey Piven, X5 Chief Financial Officer Moscow, Russian Federation 21 May 2013
Slide 2: Disclaimer
Disclaimer 2 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 o
Slide 3: Summary Highlights – Q1 2013
Summary Highlights – Q1 2013 3 Our Business • Leading Russian food retailer – 5.6% of total food retail market(1) • Multi-format brand retail operator: Pyaterochka (Soft Discounter), Perekrestok (Supermarket), Karusel (Hypermarket) plus assorted brand name convenience stores Q1 2013 Operating Result
Slide 4: Regional Presence
Regional Presence (1) 4 Q1 2013 Regional Store Breakdown Overview St. Petersburg & Moscow & Central region • Multi-format presence in 63 cities of European North-West region Discounters: 1,418 Russia, the Urals and Ukraine with population > Discounters: 519 Supermarkets: 213 Supermarkets: 35 Hyperma
Slide 5: Financial Overview – Q1 2013 vs. Q1 2012
5 Financial Overview – Q1 2013 vs. Q1 2012
Slide 6: Sales & EBITDA Breakdown
Sales & EBITDA Breakdown 6 130,000 1,613 1,015 125,000 6,797 (38) (8) 120,000 Increase in net sales by format, 115,000 RUB mln 110,000 Total: + 9.1% Total: + 6.2% Total: - 0.1% Total: + 108.7% & 126,524 y-o-y net retail105,000 117,145 Central: + 6.0% Central: + 6.5% Central: + 4.1% Central: - sales
Slide 7: Financial Highlights
Financial Highlights 7 USD mln Q-o-Q Y-o-Y Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 (when applicable) +/( - )% +/( - )% Retail sales 3,862.0 3,981.8 3,610.4 4,307.8 4,152.5 (3.6) % 7.5 % Total revenues 3,870.7 3,987.9 3,616.7 4,319.9 4,160.0 (3.7) % 7.5 % COGS 2,923.5 3,077.6 2,791.7 3,278.2 3,144.0
Slide 8: SG&A Breakdown
SG&A Breakdown 8 % of Net % of Net % of Net % of Net Q1 2012 Q1 2013 USD mln Q4 2012 Q1 2013 Sales Sales Sales Sales (342.4) 8.8% (354.4) 8.5% Staff Costs (341.6) 7.9% (354.4) 8.5% (151.3) 3.9% (175.0) 4.2% Lease Expenses (156.7) 3.6% (175.0) 4.2% (61.3) 1.6% (70.5) 1.7% Other Store Costs (73.0) 1.7
Slide 9: SG&A Breakdown
SG&A Breakdown 9 Decrease in staff cots as % of sales is attributed to 0.58% decrease in 21.6% administration staff expenses partially offset by increase in base salaries and retail staff expense by 0.25% as % of sales. 21.4% 21.4% 0.0% 0.1% 21.2% 0.0% 0.0% 0.3% 0.3% 0.1% 21.2% 0.1% 21.0% 0.2% SG&A,
Slide 10: Cash Flow Highlights
Cash Flow Highlights 10 +/ - % USD mln Q1 2012 Q1 2013 +/( - ) change Net Cash From Operating Activities (77.1) 28.4 105.5 n/a Net Cash from Operating Activities before Changes in Working Capital 289.8 289.6 0.2 (0.1) % Change in Working Capital (240.5) (134.2) (106.3) (44.2) % Net Interest and Inco
Slide 11: Condensed Balance Sheet
Condensed Balance Sheet1 11 USD mln 31 December 2012 31 March 2013 +/( - ) +/( - )% Total current assets 2,465.9 2,073.1 (392.8) (15.9) % incl. Cash & cash equivalents 407.9 243.1 164.7 40.4 % incl. Inventories 1,114.9 1,005.1 109.8 9.8 % Total non-current assets 7,116.4 6,919.6 196.9 2.8 % incl. Ne
Slide 12: Debt Structure
Debt Structure 12 Debt profile Debt portfolio maturity, USD mln (3) USD mln 31 Dec 2012 % in total 31 Mar 2013 % in total 40.4% Total Debt 4,027.3 3,857.6 Short-Term Debt 1,680.9 41.7% 1,657.9 43.0% 23.6% 26.1% Long-Term Debt 2,346.4 58.3% 2,199.7 57.0% Net Debt / (Net Cash) 3,619.4 3,614.2 7.5% Den
Slide 13: Appendix
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Slide 14: 2013 YTD Expansion Update
2013 YTD Expansion Update Number of Stores Opened, net Selling Space Added, net sq.m. 45 15,488 34 10,831 8,443 18 3 (5,412) (1) (1) Jan Feb Mar Apr Jan Feb Mar Apr Expansion y-o-y in 4M 2013: 100 stores added vs 170 stores in 2012 / 29.3 thd sqm added vs 59.2 thd sqm in 2012 Notes: (1) Preliminary
Slide 15: 2013 YTD Net RUR Retail Sales Dynamics
2013 YTD Net RUR Retail Sales Dynamics Total Net Retail Sales Growth, % y-o-y Soft Discounter Net Retail Sales Growth, % y-o-y 10.2 % 10.8 % 11.0 % 8.7 % 8.7 % 8.0 % 5.0 % 5.4 % (1) Feb (1) Apr (2) Jan Feb Mar Apr (2) Jan Mar Supermarkets Net Retail Sales Growth, % y-o-y Hypermarkets Net Retail Sale
Slide 16: 2013 YTD RUR LFL Sales Dynamics
2013 YTD RUR LFL Sales Dynamics Total LFL Sales Growth, % Soft Discounters LFL Sales Growth, % 1.6 % 0.3 % 0.2 % 0.0 % (0.7 %) (0.1 %) (1.2 %) (0.2 %) Jan Feb Mar Apr (1) Jan Feb Mar Apr (1) Supermarkets LFL Sales Growth, % Hypermarkets LFL Sales Growth, % 3.3 % 3.1 % 1.4 % 0.9 % 1.2 % 0.7 % (1.5 %)
Slide 17: 2013 YTD Total RUR: Traffic and Basket
2013 YTD Total RUR: Traffic and Basket(1) Total X5 Sales Growth, % Soft Discounters Sales Growth, % Total basket growth, % Total traffic growth, % Total basket growth, % Total traffic growth, % 6.1% 6.7% 10.2% 5.6% 10.0% 6.9% 6.9% 7.1% 4.2 % 4.1 % 3.0 % 1.2 % 0.6 % (1.4 %) (1.6 %) (1.5 %) (2) (2) Ja
Slide 18: 2013 YTD LFL RUR Sales: Traffic & Basket
2013 YTD LFL RUR Sales: Traffic & Basket Total X5 LFL Sales Growth, % Soft Discounters LFL Sales Growth, % LFL basket growth, % LFL traffic growth, % LFL basket growth, % LFL traffic growth, % 5.8 % 6.1 % 4.4 % 2.8 % 0.4 % 5.1 % 1.2 % 0.6 % (2.4 %) (1.6 %) (1.4 %) (0.7 %) (4.0 %) (4.2 %) (5.6 %) (5.
Slide 19: 2013 Convenience Store RUR Results
2013 Convenience Store RUR Results Net Retail Sales Growth, % LFL Sales Growth, % 17.9 % 99.5 % 15.0 % 83.1 % 83.7 % 82.9 % 13.0 % 12.2 % Jan Feb Mar Apr (1) Jan Feb Mar Apr (1) Net Retail Sales, mln Comments 626.4 634.7 • Rapidly developing format operating under Perekrestok Express and Kopeyka bra
Slide 20: Contact Information
Contact Information IR Department Contact Details Gregory Madick Anastasiya Kvon Andrey Napolnov Executive IR Director IR Director Senior IR manager Tel.: +7 (495) 502 97 83 Tel.: +7 (495) 792 3511 Tel.: +7 (495) 662 8888 ext. 22-455 Mob.: +7 (910) 459 73 56 Mob.: +7 (926) 358 8545 Mob.: +7 (926) 65