X5 Group has published financial results for Q2 2024. In In April – June, the company's revenue increased by 25.1%. Net revenue growth of digital businesses amounted to 73.6%. Profitability adjusted EBITDA — 7.6%.
Source: X5 Group
The group's net profit increased by 20.4% to RUB 35.24 billion. X5's gross profit increased by 26.7% in the reporting period to RUB 238.6 billion, the margin increased to 24.7% from 24.4% a year earlier. The increase in marginality was due to the growth of commercial profitability in the Pyaterochka and Perekrestok retail chains due to the conclusion of new agricultural contracts.
The group's revenue increased by 25.1% year-on-year to RUB 965.5 billion, driven by growth in retail space, LfL sales, and sales of X5's digital businesses.
Source: X5 Group
" IN in the first half of 2024 we maintained a strategic focus on active expansion of the chain of stores at home " and " hard " discounters, and also on increasing the gap between our customer offer and competitors in supermarket segment. In As a result, X5 demonstrated strong revenue growth at the level of 25.1% in in the second quarter of 2024 against the backdrop of growth in comparable sales and retail space , ” said Igor Shekhterman, chief executive officer of X5 .
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