M.video reports 12.2% sales growth for 9m 2013

17.10.2013 15:30

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 9 months and 3rd quarter of 2013.

9m 2013 Highlights:

  • Sales increased by 12.2% to almost 121 billion Russian rubles (RUB), including VAT;
  • Like-for-like sales increased by 2.2%;
  • Online sales (home delivery only) grew by 53%;
  • 23 new stores opened, selling space increased to 561,000 sq. m.

Q3 2013 Highlights:

  • Sales increased by 10.4% to 42.4 billion RUB, with VAT;
  • Like-for-like grew by 1.7%.

In 9m 2013 M.video sales reached 121 billion Russian rubles (RUB), including VAT, demonstrating a 12.2% growth as compared to 9m 2012. The Company’s LfL sales in 9m 2013 increased 2.2% year-on-year. Online sales (home delivery only) grew by 52.7% to 4.3 billion RUB, including VAT.

In Q3 2013 M.video sales increased 10.4% and LfL sales grew by 1.7% versus Q3 2012.

M.video opened 23 new stores in 9m 2013. The Company opened 5 new stores in Q3 2013 while closing 1 store.

The total number of the Company’s locations reached 316 stores in 140 cities as of September 30th, 2013. The selling space of M.video stores amounted to 561,000 sq. m and the total space amounted to 756,000 sq. m, demonstrating a 4% increase as compared to FY 2012 results.

Alexander Tynkovan, President and CEO of OJSC “Company “M.video”, said: “We continue to expand successfully our operations both offline and online through implementing our winning Omni-Channel formula. In Q3 we launched 20 new internet cities and now operate online in 37 cities across Russia, while increasing our total coverage to 140 cities”.

He also added: “We believe that our Omni-Channel approach will continue to allow M.video to gain market share in the peak December season. We are also optimistic about rapid Pick-up in Store development as it provides for comfort and convenience of shopping for consumers, especially in the holiday period and it’s quite beneficial for the retailer as we can offer additional services and accessories to our online customers in the store”.

Summary of the 9 months and 3rd quarter 2013 performance:

 

Sales

 

 

9m2013

9m2012

% change y-o-y

Q3 2013

Q3 2012

% change y-o-y

RUB million, with VAT

120,720

107,591

12.2%

42,436

38,451

10.4%

RUB million, without VAT

102,305

91,179

35,963

32,586

 

Online Sales (home delivery only)

 

 

9m 2013

9m 2012

% change y-o-y

RUB million, with VAT

4,286

2,807

52.7%

RUB million, without VAT

3,632

2,379

 

LfL Sales Performance*

 

 

9m 2013 LfLDynamics, %

Q3 2013 LfLDynamics, %

Russian rubles

2.2%

1.7%

 

Expansion

 

 

As of

30 September 2013

As of

31 December 2012

New

9m 2013

% change

Stores

316

296

20**

7%

Selling space, sq. m

561,000

537,000

24,000**

4.5%

Total space, sq. m

756,000

723,000

33,000**

4.5%

* - 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 3 stores in 9m 2013.