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X5 Group: 2Q21 financial results review

Name: 12/08/2021. Gazprombank: X5 Group: 2Q21 financial results review
Creator: Cbonds
License: https://creativecommons.org/licenses/by/4.0/

12/08/2021 | Gazprombank

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X5 Group released strong financial results for 2Q21, soundly beating our and consensus forecasts. Despite the negative SG&A contribution from online businesses, the adjusted EBITDA margin remained solid at 8.1%. In our view, X5 Group is well positioned to outperform the market until year end.

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