2013 July 18, 10:59
M.video reports 13% sales growth in H1 2013.
OJSC “Company “M.video” (RTS, MICEX: MVID), Russia’s largest consumer electronics retailer by revenue, announced today its unaudited sales, like-for-like sales (LfL) and expansion results for the 1st half and 2nd quarter of 2013.
H1 2013 Highlights:
Q2 2013 Highlights:
In H1 2013 M.video sales reached 78.3 billion Russian rubles (RUB), including VAT, demonstrating a 13.2% growth as compared to H1 2013. The Company’s LfL sales in H1 2013 increased 2.5% year-on-year. M.video on-line sales grew by 62.4% in H1 2013 to 2.95 billion RUB, including VAT.
In Q2 2013 M.video sales increased 14.7% and LfL sales were +2.8% versus Q2 2012.
M.video opened 18 new stores in H1 2013 (9 new stores in Q2 2013). The total number of the Company’s stores increased to 312 in 139 cities. The selling space of M.video network amounted to 555,500 sq. m while the total space amounted to 749,000 sq. m. as of June 30th, 2013.
Alexander Tynkovan, President and CEO of OJSC “Company “M.video”, said: “M.video is demonstrating excellent trading results both in stores and in our growing Internet operations. We’re also on track to open 35 new stores in 2013”.
He added: “As it was previously announced we continue to expand our online proposition to our customers in Russia and will open 20 new Internet cities in July 2013. More customers can then decide how to shop for consumer electronics based upon what is more convenient for them. Our Omni-Channel approach is designed with our customers’ convenience in mind”.
Summary of the 1st half and 2nd quarter 2013 performance:
* - comparative 2012 numbers are based on the reported IFRS results.
** - LfL data is based upon a comparison of stores open at January 1, 2011 and not closed for more than two weeks or permanently, or expanded or downsized by >20% of total space.
*** - net of closing 2 stores in Q1 2013