We continued to deliver on our core strategic goals, maintaining sustainable profitability thanks to intelligent organic growth and a relentless focus on efficiency at every level of our operations.

While our core strategic priorities remain intact, X5 is transforming itself into a customer-centric, data driven, innovative company that provides modern food retail to diverse groups of customers across the regions of Russia where we operate.

We set new all-time records for Pyaterochka, passing RUB 1 trillion in net retail sales and adding more than 1 million square metres of new selling space for the first time in our history.

Perekrestok strengthened its position as Russia’s #1 supermarket format in 2017, with 638 stores operating in around 130 cities and towns as of year end.

Last year marked a turning point for Karusel, as we developed and approved a new customer value proposition and branding for our hypermarkets, which are based on a deep understanding of our target audience and modern shopping trends.

Our strong financial results, healthy balance sheet and efficient operations put X5 in a good position to continue its rapid growth, even as we distribute profit in line with the new dividend policy.