M.video reports 17% sales growth in 9m 2016 up to 152.5 billion RUB

18.10.2016 10:30

M.video reports ­­17% sales growth in 9m 2016


Moscow, October 18, 2016. M.video (MOEX: MVID), Russia’s largest consumer electronics retailer by revenue, announced today its unaudited sales, like-for-like sales (LfL) and expansion results for   9 months and the 3rd quarter of 2016.


9m 2016 Highlights:

  • Sales increased by 17% and amounted to 152.5 billion RUB, including VAT;
  • Like-for-like sales grew by 16%;
  • Online based sales (online home delivery + pickup) increased by 30%;
  • 12 new stores opened, selling space amounts to 652,000 sq. m.


Q3 2016 Highlights:

  • Sales grew by 13% and amounted to 53.8 billion RUB, including VAT;
  • Like-for-like sales increased by 10% as compared to Q3 2015.

In 9m 2016 the Company’s sales increased by 17% compared to the same period last year and reached almost 153 billion Russian rubles (RUB), including VAT, while LfL sales grew by 16%. M.video demonstrated the key indicators positive dynamics both due to double-digit growth in sales of the leading product categories and the continued increase in the average unit price.


M.video online based sales in 9m 2016 (orders from Company’s online stores, including home delivery + pickup in stores) increased by 30% to 17.4 billion RUB, including VAT, compared to 13.4 billion RUB in 9m 2015.


In Q3 2016 M.video sales grew by 13% and reached 53.8 billion, including VAT. The Company’s LfL sales in Q3 2016 increased by 10% year-on-year.


M.video opened 12 new stores in 9m 2016 (including 6 new stores in Q3 2016), while closed 2 stores due to their relocation. The total number of the Company’s stores amounts to 388 in 162 cities of Russia as of the end of 9m 2016. The selling space of M.video network amounts to 652,000 sq. m while the total space amounts to 880,000 sq. m. as of September 30th, 2016.


Alexander Tynkovan, President of M.video, said: “During 9 months of 2016 M.video demonstrated steady growth of the key indicators ahead of the market. The Company’s strategy aims at further strengthening of leadership on the consumer electronics market through omni channel sales model further development and effective operating expenses and pricing policies. In the 3rd quarter the Company launched a number of innovative projects such as M.Game and M.Mobile which will allow us to enhance sales of services, accessories, digital content and attract new audience”.


Enrique Fernandez, M.video CEO, also commented: “We actively cooperate both with the world largest market vendors that are already known to Russian customers and new players in technology and electronics market aiming to offer our customers the broadest selection of devices at the best prices. M.video is the first in Russia who introduces to its clients many world-new products, from action cameras and smartphones to innovative washing machines. Quality work with the assortment in stores and consistent introduction of innovations in all business processes, from logistics to payment instruments, allows M.video to increase its presence on the Russian electronics market”.

Summary of 9 months and the 3rd quarter 2016 performance:






9m 2016

9M 2015

% change y-o-y

Q2 2016

Q2 2015

% change y-o-y

RUB million, with VAT

152 484

130 667


53 838

47 500


RUB million, without VAT

129 223

110 735

45 625

40 254


Online Based Sales (Home Delivery + Pickup)



9m 2016

9M 2015

% change y-o-y

RUB million, with VAT

17 378

13 392


RUB million, without VAT

14 727

11 349


LfL Sales Performance*



9m 2016 LfLDynamics, %

Q3 2016 LfLDynamics, %

Russian rubles







As of

30 September 2016

As of

31 December 2015


9m 2016**

% change






Selling space, sq.m

652 000

644 000

8 000


Total space, sq. m

880 000

865 000

15 000



* - LfL data is based upon a comparison of stores open at January 1, 2015 and not closed for more than two weeks or permanently, or expanded or downsized by >20% of total space.

** - net of closing (relocation) of 2 stores in Q2 2016.