X5’s second-quarter 2024 sales increased 25.1% year on year to RUB 963.9 billion, according to Interfax on 16 July. The retailer in Russia reported offline sales of RUB 917 billion, up 23.3%, and digital-business sales of RUB 46.9 billion, up 1.7 times. Like-for-like sales increased 14.9%.
- The average basket rose 11.7%, while customer traffic increased 2.9%.
The first quarter’s operating report
Interfax’s 16 April 2024 report put first-quarter sales at RUB 882.2 billion, up 26.9% year on year. Offline sales reached RUB 835.7 billion, up 24.8%, while digital-business sales rose 81.7% to RUB 46.5 billion. Like-for-like sales increased 14.8%, with average basket growth of 11.6% and traffic growth of 2.9%. At 31 March, the group operated 24,884 stores and had 10.34 million square metres of selling space. Those were the preceding quarter’s sales and network measures, with their own year-on-year comparisons and reporting date.
Financial results from late 2023
On 22 March 2024, Interfax reported X5’s fourth-quarter 2023 adjusted EBITDA of RUB 54.74 billion, up 49.7%, with a margin of 6.2%, against 5.2% a year earlier. Quarterly revenue was RUB 881.22 billion, up 25%, and net profit RUB 19.03 billion. Separately, full-year 2023 adjusted EBITDA was RUB 217.95 billion, up 15%, with a margin of 6.9%, against 7.3% in 2022. Net debt stood at RUB 187.45 billion at 31 December 2023. This report covered both quarterly and annual financial measures, distinct from July’s second-quarter sales release.
The Siberian networks’ earlier acquisition
X5 completed the purchase of 70% interests in Krasny Yar and Slata on 3 November 2022, according to Interfax’s report that day. The companies were to retain their brands and existing operational management, with some purchasing and logistics processes integrated with X5. Strategic management would pass through X5–Eastern Siberia, a management company established in August. The two groups rented four distribution centres totalling 62,300 square metres. The completed transaction added controlling interests in these regional networks; the dated announcement specified 70% ownership, rather than a purchase of their entire capital.
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