OREANDA-NEWS. August 1, 2011. DIXY Group - one of Russia's leading retailers of foods and everyday products - has announced revenue growth of 21.8% in Russian rubles (28.0% in USD) for the first six months of 2011 over the same period last year.

This release discloses only the revenue of the DIXY Group standalone, not including the revenue of the Victoria Group that was acquired in June 2011. The combined revenue and like-for-like sales will be disclosed beginning with the next monthly trading update for the seven months of 2011.

However, beginning with the current release we already disclose the information on the Victoria Group number of stores and selling space.

Also, with the purpose of converging reporting policies of the DIXY Group and the Victoria Group, as well as with the purpose of following best industry practices, the methodology of revenue calculation has been changed as follows: advertising income is transferred from other income to marketing bonuses, reducing cost of sales.

The revenue data for the previous months of 2011 and comparable periods of 2010, recalculated according to the new methodology, is presented below in the Appendix to the release.

DIXY Group's total revenue for the first six months of 2011 amounted to RUR 37,389 million, representing a 21.8% increase over RUR 30,692 million for the same period of 2010. In USD terms revenue increased by 28.0% to 1,306 million, compared to USD 1,021 million for the six months of 2010.

Retail revenue from DIXY stores for the first six months of 2011 amounted to RUR 32,172 million (USD 1,124 million), which represents a 23.8% growth in RUR (30.1% in USD) over the same period of 2010.

Retail revenue from MEGAMART stores for the first six months of 2011 amounted to RUR 3,813 million (USD 133 million), which represents a 10.6% growth in RUR (16.2% in USD) over the same period of 2010.

Retail revenue from MINIMART stores for the first six months of 2011 amounted to RUR 1,169 million (USD 41 million), which represents a 10.2% growth in RUR (15.7% in USD) over the same period of 2010.

Revenue from other activities, such as sublease income and wholesale revenue amounted to RUR 235 million (USD 9 million).

The following exchange rates were used for converting Russian Rubles to US dollars:

Exchange Rate according to CBR

2010

2011

Average (six months), RUR/USD

30.0676

28.6242

Key operating data for the six months period ended June 30, 2011

For the period ending

30 June 2011

30 June 2010

%

Number of Stores

971

819

19%

Store Openings

94

45

109%

DIXY

82

41

100%

MEGAMART

0

0

 

MINIMART

0

0

 

KVARTAL

11

3

267%

DESHEVO

0

0

--

VICTORIA

1

1

--

CASH

0

0

--

 

As of

30 June 2011

30 June 2010

%

Selling Space, sqm

363,618

330,433

10%

DIXY

202,927

177,235

14%

MEGAMART

30,121

30,121

--

MINIMART

5,486

5,486

--

KVARTAL

80,260

77,760

3%

DESHEVO

5,070

5,070

--

VICTORIA

36,703

31,710

16%

CASH

3,051

3,051

--

Like-for-Like Sales Dynamics (in RUR) for the six months of 2011

Stores opened before 01.06.2010*

Format

Region

TOTAL (RUR)

Number of tickets

Average ticket

DIXY

Central Federal District

9.52%

-0.71%

10.30%

DIXY

North-Western Federal District

2.51%

-4.24%

7.05%

DIXY

Urals Federal District

15.04%

1.48%

13.36%

 

DIXY TOTAL

7.36%

-1.79%

9.32%

Megamart

Urals Federal District

10.55%

5.53%

4.76%

Minimart

Urals Federal District

10.05%

1.62%

8.30%

 

DIXY Group TOTAL

7.83%

-1.31%

9.26%

*LFL block includes 525 DIXY stores, 15 Megamarts and 8 Minimarts

Like-for-Like Sales Dynamics (in RUR) for the first quarter of 2011

Stores opened before 01.03.2010*

Format

Region

TOTAL (RUR)

Number of tickets

Average ticket

DIXY

Central Federal District

8.76%

-1.34%

10.24%

DIXY

North-Western Federal District

3.00%

-4.33%

7.66%

DIXY

Urals Federal District

18.78%

5.91%

12.15%

 

DIXY TOTAL

7.29%

-1.83%

9.29%

Megamart

Urals Federal District

9.52%

6.04%

3.29%

Minimart

Urals Federal District

9.31%

1.86%

7.31%

 

DIXY Group TOTAL

7.62%

-1.33%

9.07%

*LFL block includes 500 DIXY stores, 15 Megamarts and 8 Minimarts

Like-for-Like Sales Dynamics (in RUR) for the second quarter of 2011

Stores opened before 01.06.2010*

Format

Region

TOTAL (RUR)

Number of tickets

Average ticket

DIXY

Central Federal District

10.2%

-0.1%

10.4%

DIXY

North-Western Federal District

2.0%

-4.2%

6.5%

DIXY

Urals Federal District

11.4%

-2.6%

14.3%

 

DIXY TOTAL

7.4%

-1.7%

9.3%

Megamart

Urals Federal District

11.5%

5.1%

6.1%

Minimart

Urals Federal District

10.7%

1.4%

9.2%

 

DIXY Group TOTAL

8.0%

-1.3%

9.5%

*LFL block includes 514 DIXY stores, 15 Megamarts and 8 Minimarts