Russia’s largest grocery chain X5 Retail Group saw fourth quarter 2011 net profit jump 52.4 percent year-on-year to $134 million to IFRS, the company said in a statement on Thursday.
The company’s net sales increased 13.9 percent in October-December 2011 to $3.965 billion compared with the same period in 2010, while operating profit soared 43.5 percent to $238.3 million.
Earnings Before Interest, Taxation, Depreciation, Amortization (EBITDA) jumped 37.6 percent to $344.5 million, while the EBITDA margin went up to 8.7 percent from 7.2 percent.
As for the whole 2011, X5’s net profit increased 11.4 percent to $302.2 million year-on-year, while the company’s net sales stood at $15.455 billion, a 37 percent growth compared with 2010.
The company expects net sales growth in 2012 from 15 percent to 20 percent in rubles terms and a nearly 18 percent increase in retail selling space. Capital expenditures for this year will amount to 45 billion rubles ($1.52 billion).