Supervisory Board of X5 Group recommended not to pay dividends for 2022
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The net profit of the retailer X5 Group under IFRS in 2022 increased by 7.7%, to 52.2 billion rubles, follows from the financial statements (.pdf) groups. The company also said that the supervisory board will recommend not paying dividends for 2022.
The X5 Group explained that the refusal to pay dividends is due to various factors, including regulatory restrictions. “Given current market conditions, ongoing regulatory restrictions and in line with last year’s profit distribution, the Supervisory Board will recommend to the General Meeting of Shareholders not to pay dividends for 2022 results,” the company said in a statement.
The group’s revenue in 2022 grew by 18.2%, reaching RUB 70.4 billion. The EBITA indicator amounted to 186.8 billion rubles, which is 16% more than the results of 2021. Gross margin decreased by 104 basis points to 24.1%, EBITA margin – by 13 basis points to 7.2%, net profit margin – by 19 basis points to 2%.
At the end of 2022, the group’s LFL sales grew by 10.8%, LFL average ticket – by 7.5%, LFL traffic – by 3.1%.
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