RECORD RESULTS FOR M.VIDEO-ELDORADO

Based on the results of 2018, the M.Video-Eldorado Group showed record results: sales grew by 18% to 421 billion rubles thanks to an increase in retail and online efficiency.

The M.Video-Eldorado Group (M.Video PJSC, Moscow Central Stock Exchange: MVID), the largest Russian retailer of electronics and home appliances, as well as part of Mikhail Gutseriev’s SAFMAR Group, reported their combined unaudited net sales and the sales of comparable stores (like-for-like, LFL), as well as results from the M.Video and Eldorado chain development, for the fourth quarter and year ending December 31, 2018.

Key combined indicators for the M.Video-Eldorado Group for the fourth quarter of 2018 are:

  • M.Video-Eldorado Group’s sales increased by 21.2% year-on-year to 140.2 billion rubles (including VAT)
  • Sales for comparable stores (LFL) to those in the Group increased by 14.6%
  • Total Internet sales showed an increase of 25.2% compared with the fourth quarter of 2017, reaching 26.2 billion rubles (including VAT)

Key combined indicators for 2018 (proforma):

  • M.Video-Eldorado Group’s sales increased by 17.7% year-on-year to 421.4 billion rubles (including VAT)
  • Sales for comparable stores (LFL) to those in the Group showed a growth of 13.5%
  • The combined company’s Internet sales increased by 31.0% compared with 2017, reaching 77.3 billion rubles (with VAT)
  • The online share of the Group’s total sales reached 18.3%. The share of self-pickup in the Group’s online sales was 74.4%

The Group’s sales in the fourth quarter of 2018 increased by 21.2% compared to the fourth quarter of 2017, reaching 140.2 billion rubles (including VAT). In 2018, the Group's sales increased by 17.7% compared to 2017 and amounted to 421.4 billion rubles (including VAT).

Sales for the M.Video network in the fourth quarter of 2018 showed an increase of 20.2% year-on-year to 92.8 billion rubles (including VAT). In 2018, M.Video’s sales grew by 19.6% and amounted to 279.8 billion rubles (including VAT).

Eldorado’s sales showed a steady growth of 23.2% year-on-year, reaching 47.4 billion rubles (including VAT) in the fourth quarter of 2018. Eldorado’s sales grew by 14.1% and reached 141.6 billion rubles (with VAT) in 2018. In the second half of 2018, Eldorado updated its brand, advertising strategy, and store format, which allowed the Group to expand its customer base, and had a positive impact on end-of-year results.

Sales for comparable stores (LFL) to those in the Group increased by 14.6% in the fourth quarter and by 13.5% for all of 2018. These increases occurred thanks to a positive trajectory in the number of purchases, as well as an increase in the average bill due to a shift in demand to more expensive categories of digital goods, and a growth in additional sales services and accessories. In the fourth quarter of 2018, M.Video’s LFL sales increased by 11.6%, while Eldorado showed a record increase of 20.7% in LFL sales.

In the fourth quarter of 2018, M.Video’s Internet sales (online orders for home delivery and pickup from stores) increased by 26.2% compared to the fourth quarter of 2017, thanks to an increase in the number of transactions and in the average check amount. Eldorado’s Internet sales showed an increase of 22.9% year-on-year in the fourth quarter of 2018 thanks to an increase in sales of digital categories and, consequently, an increase in the average check amount.

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