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2014 January 17, 16:45

M.video reports 11% overall and 36% Internet sales growth for 2013

OJSC “Company “M.video” (RTS, MICEX: MVID), Russia’s leading consumer electronics retailer, announced today its unaudited sales, like-for-like sales (LfL) and expansion results for the full year and the 4th quarter of 2013.

FY 2013 Highlights:

  • Sales increase of 11%
  • Like-for-like sales 1%
  • Online sales (home delivery) increase 36%
  • 40 new stores, selling space of 582.5K sq. m

Q4 2013 Highlights:

  • Sales growth of 8%
  • Like-for-like sales (1.8%)
  • 17 new stores, selling space of 21.5K sq. m added

In FY 2013 M.video sales reached 175 billion Russian rubles (RUB), including VAT, demonstrating a 11% growth as compared to FY 2012. The Company’s LfL sales in FY 2013 increased by 1% year-on-year. M.video on-line sales grew by 36% in 2013 to almost 6 billion RUB, including VAT.

In Q4 2013 M.video sales increased by 8% as compared to Q4 2012 while LfL sales showed (1.8%) versus Q4 2012.

In the high season of December 2013 M.video sales remained flat as compared to December 2012.

M.video opened 40 new stores in 2013 (17 new stores in Q4 2013), while closing 3 stores. The total number of the Company’s outlets reached 333 stores as of  December 31st, 2013 located in 144 cities of Russia. The selling space of M.video stores amounted to 582,500 sq. m, while the total space amounted to 785,000 sq. m as of December 31st, 2013, demonstrating a 8.5% increase compared to FY 2012 results.

Alexander Tynkovan, President and CEO of OJSC “Company “M.video”, said: "In 2013 M.video opened 40 new stores and launched the internet sales capabilities in 35 new cities enabling our Omni proposition in to be available in the largest 52 cities where we have presence in Russia. This allowed us to expand Pick-up in Store service offer to customers in various regions and support a constant growth of the overall online based transactions within our network”.

He also commented on 2013 sales results which “were impacted by a softer market in the 4th quarter, particularly in the regions where we saw consumer confidence weakening while Moscow and St. Petersburg continued to perform strongly. We are confident that our Omni strategy rollout will continue to provide us with increased market share as we give our customers the best shopping experience. We’re also looking forward to opening 30 new stores under M.video banner in 2014”.

Summary of the 12 months and the 4th quarter 2013 performance:

 

Sales (including online)*

 

 

FY 2013

FY 2012

% change y-o-y

Q4 2013

Q4 2012

% change y-o-y

RUB million, with VAT

175,058

157,640

11%

54,338

50,328

8%

RUB million, without VAT

148,354

133,593

46,049

42,651

 

Online Sales (home delivery only)

 

 

FY 2013

FY 2012

% change y-o-y

RUB million, with VAT

5,932

4,364

36%

RUB million, without VAT

5,027

3,698

 

LfL Sales Performance**

 

 

FY 2013 LfL Dynamics, %

Q4 2013 LfL Dynamics, %

Russian rubles

1%

(1.8%)

 

Expansion

 

 

As of

31 December 2013

As of

31 December 2012

New

2013***

% change

Stores

333

296

37

12.5%

Selling space, sq. m

582,500

537,000

45,500

8.5%

Total space, sq. m

785,000

723,000

62,000

8.5%

* - comparative FY 2012 numbers are based on the reported audit results.

** - LfL data is based upon a comparison of stores open at January 1, 2012 and not closed for more than two weeks or permanently, or expanded or downsized by >20% of total space (internet store sales included).

*** - net of closing 3 stores

 
Information is valid for 15:34 22.12.2014