OREANDA-NEWS. July 30, 2010. Dixy Group – one of the leading food retailers in the Russian Federation - has announced revenue growth of 15.2% in Russian rubles (26.7% in USD) for the first six months of 2010 over the same period last year.1,2

Dixy Group’s total revenue for the first six months of 2010 amounted to RUR 30,829 million, representing a 15.2% increase over RUR 26,751 million for the same period of 2009.3 In USD terms revenue increased by 26.7% to 1.025 million, compared to USD 808.9 million for the first six months of 2009.

Retail revenue from Dixy for the first six months of 2010 amounted to RUR 25,985 million (USD 864.2 million), which represents a 16.2% growth in RUR (27.8% in USD) over the same period of 2009 result.

Retail revenue from Megamart for the first six months of 2010 amounted to RUR 3,448 million (USD 114.6 million), which represents a 15.2% growth in RUR (26.7% in USD) over the same period of 2009 result.

Retail revenue from Minimart for the first six months of 2010 amounted to RUR 1,060 million (USD 35.3 million), which represents a 7% growth in RUR (17.7% in USD) over the same period of 2009 result.

Revenue from other activities, such as marketing revenue, sublease income and wholesale revenue amounted to RUR 336 million (USD 11.2 million).

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

Exchange Rate according to CBR4

2009

2010

Average (6 months), RUR/USD

33.0679

30.0676

Key operating and financial data for the six month period ended June 30, 2010

As of

30 June 2010

30 June 2009

Growth

Number of stores

5715

4886

17%

Net Selling space (sq.m.)

212,842

191,916

11%

For the six month

 

 

 

period ending

30 June 2010

30 June 2009

Growth

Revenue (RUR)

30,829 million

26,751 million

15.2%

Revenue (USD)

1.025 million

809 million

26.7%

Store openings

41

16

256%

Dixy

41

16

256%

Megamart

0

0

-

Minimart

0

0

-

LFL Sales in RUR for 1H 2010

For purposes of internal reporting and planning we include in like-for-like store base only stores which were opened twelve months before the beginning of the start of the comparison period thus giving the stores time to achieve maturity. We view this calculation as the most conservative and prudent as it reflects the performance of the mature stores. We include in this base stores opened before 01.01.08

For the purposes of comparison of our results with those published by our peers in Russia, we also present like-for-like calculation that includes stores that were open before 01.06.09. This calculation takes into the account the sales of stores that are still maturing.

1 Revenue figures are based on internal management reports and have not been audited.

2 All revenue figures provided in this press release do not include VAT.

3 Total revenue includes retail revenue and other revenue, which consists of income from subleases and marketing revenue.

4 Exchange rate is an average rate for the period calculated using official daily rate of Central Bank of Russia.

5 During the period from 1 January 2009 to 30 June 2009 there were 7 Dixy stores and 12 VMart stores closed.

6  During the period from 1 January 2010 to 30 June 2010 there were 7 Dixy stores closed.