24.05.2010 M.video. Retailer reports growth of its revenues and strong gross margin performance in FY 2009

 

OJSC “Company “M.video” (“M.video” or the “Group”), Russia's leading consumer electronics retailer (RTS, MICEX: MVID), releases today its audited consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) for the year ended December 31st, 2009.

M.video retail sales increased by 3.2% to 83 billion Russian rubles (RUB) with VAT in FY 2009. The Group’s total sales (including revenue from wholesale operations) also increased by 1.4% to 85.6 billion RUB (with VAT). Growth in revenues was driven by M.video’s expansion and was achieved despite a significant market decline due to the impact of the recession.

The Group’s gross profit increased to 18,360 million RUB. M.video’s gross margin amounted to 25.3% in FY 2009 as compared to 25.0% in FY 2008.

M.video’s operating profit (EBIT) reached 2,117 million RUB with the EBIT margin amounted to 2.9% in FY 2009.

The Group’s EBITDA amounted to 3,244 million RUB and the EBITDA margin was 4.5% in FY 2009.

M.video’s net profit for FY 2009 accounted for 783 million RUB.

Alexander Tynkovan, President and CEO of OJSC “Company “M.video”, commented that: “We demonstrated positive sales dynamics in the recessionary period while the whole consumer electronics market reportedly declined in FY 2009. Among our major achievements by the year end 2009 were the improved gross margin, solid balance sheet and strong financial position with a high cash level and no debt”.

He also added: “Our strong financial position allows us to manage our expansion proactively increasing the opening plan up to 30 new stores this year and to pay our first dividend from profits”.

Просмотров сегодня — 1, всего - 264. [2018г - 372]
09.07.2010

ECR Community Forum 2010 in Russia. More than 800 Participants!

The ECR Community Forum 2010, organized by ECR Finland, ECR France, ECR Poland and ECR Russia took place in Moscow on June 2-4, in Conference Hall, The Cathedral of Christ the Saviour

22.06.2010

Commercial Real Estate. The highest prime shopping centre rents during Q1 2010 in Europe were achieved in the United Kingdom

The highest prime shopping centre rents during Q1 2010 in Europe were achieved in the United Kingdom at ?1,900 per sq m per annum, followed by France (?1,700). The third most expensive rents were recorded in Russia (?1,500) followed by the rest of Western Europe. Due to the limited availability of prime retail space in many shopping centres across Europe, the outlook for prime rents in most European markets is stable despite the inevitable slowing of demand from occupiers over the last 18 months

24.05.2010

M.video. Retailer reports growth of its revenues and strong gross margin performance in FY 2009

M.video retail sales increased by 3.2% to 83 billion Russian rubles (RUB) with VAT in FY 2009. The Group’s total sales (including revenue from wholesale operations) also increased by 1.4% to 85.6 billion RUB (with VAT). Growth in revenues was driven by M.video’s expansion and was achieved despite a significant market decline due to the impact of the recession

20.05.2010

Retail Investment. “The Big 5” markets account for 80% of Retail Investment in Europe in Q1 2010

Direct retail real estate investment in Europe in the first quarter 2010 accounted for ?5.4 billion**, more than double the volume of Q1 2009. As Jones Lang LaSalle anticipated in its report – ‘The Big 5’ – core European markets continue to be the main focus for investors, with volumes in these markets (UK, France, Germany, Italy and Spain) accounting for over 80% of total retail transactions across Europe

12.05.2010

Anons. The 6th Annual ECR Forum, the biggest FMCG/Retail event of a year in Russia, is coming closer and closer

The Forum takes place June 2-4 2010, in Conference Hall, The Cathedral of Christ the Saviour (Volkhonka 15)

05.04.2010

Russia. Russian real estate market will be stabilishing in 2010

The Russian real estate market has been deeply affected by the recession. An 8 percent contraction in the economy during 2009 severely affected corporate occupier demand and also dented confidence among investors who were used to double-digit returns. Developers and owners became increasingly flexible, initiating a very sharp contraction in real estate prices to reflect the new market reality; prime office values fell by over 70 percent in Moscow between mid 2008 and mid 2009, among the highest corrections in the world. Despite the improvements, the markets remain vulnerable, and any faltering in economic growth could derail the recovery

30.03.2010

Saint-Petersburg. Leto Shopping and Entertainment center is already more than 70% leased out

This was announced last Friday, the 26th of March, at the business breakfast which was organized by Sistema-Hals, Apsys Group and Jones Lang LaSalle at the Ritz-Carlton hotel in Moscow

Development of shopping centres. It still declining to a low point in 2011

The rate of development of new shopping centre space in Europe slowed considerably in 2009. It is unlikely that development levels will pick up before 2012 at the earliest, says real estate adviser Cushman & Wakefield in its new European Shopping Centre Development report

19.03.2010

Saint-Petersburg. Three BNS Brands will be presented at LETO Shopping center

Sistema-Hals (HALS), a leading diversified company in the Russian and CIS real estate market, and Apsys Group, one of the leading European companies engaged in development and management of retail real estate assets, announce of the attracting of BNS fashion retailer to LETO shopping center (Saint Petersburg)

16.03.2010

Commercial real estate. Tenants are still focused on their expansion in Moscow and St.Petersburg as it was in 2009

Rental rents in shopping malls have generally been stable since the end of 2009. Rental rates for street retail premises have increased by 10-15% depending on specific well located properties

  
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