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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:

  • Sales increased by 13.2% to 78.3 billion Russian rubles (RUB), with VAT;
  • Like-for-like sales increased by 2.5%;
  • Online sales grew by 62.4%
  • 18 new stores opened, selling space increased to 555,500 sq. m.

Q2 2013 Highlights:

  • Sales increased by 14.7% to 34.7 billion RUB, with VAT;
  • Like-for-like grew by 2.8%.

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:

 

Sales*

 

 

H1 2013

H1 2012

% change y-o-y

Q2 2013

Q2 2012

% change y-o-y

RUB million, with VAT

78,284

69,140

13%

34,677

30,238

14.7%

RUB million, without VAT

66,342

58,593

29,387

25,625

 

On-line Sales Performance

 

 

H1 2013

H1 2012

% change y-o-y

RUB million, with VAT

2,951

1,817

62.4%

RUB million, without VAT

2,501

1,540

 

LfL Sales Performance**

 

 

1H 2013 LfL Dynamics, %

Q2 2013 LfL Dynamics, %

Russian rubles

2.5%

2.8%

 

Expansion

 

 

As of

30 June 2013

As of

31 December 2012

New

1H 2013

% change

Stores

312

296

16***

5.4%

Selling space, sq.m

555,500

537,000

18,500***

3.5%

Total space, sq. m

749,000

723,000

26,000***

3.6%

* - 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

 
Information is valid for 15:31 22.10.2019