Slide 1: H1 2011 Consolidated Financial Statements Presentation
OJSC “Company “M.video” H1 2011 Consolidated Financial Statements Presentation Moscow, August 30, 2011. 1
Slide 2: Disclaimer
Disclaimer Content and liability disclaimer The information contained in this presentation or enclosed herewith is provided and intended for informational purposes only and should not be relied on for any investment decisions. The information provided in the presentation includes assumptions and fin
Slide 3: H1 2011 highlights
H1 2011 highlights Sales increased to almost 55 billion RUB (46.5 billion RUB without VAT), demonstrating a 33% growth vs. H1 2010. Like-for-like sales grew by 11.4%. Network expansion: 15 new stores opened; network reached 232 stores. Net cash position of 1.6 billion RUB vs. 300 million in 1H 20
Slide 4: Key Financial Indicators
H1 2010 Key Financial Indicators In millions of Russian rubles H1 2011 H1 2010 y-o-y, % Sales (with VAT), including 54,872 41,249 33% Retail sales (with VAT) 54,868 41,072 33.6% Net revenue, including 46,502 34,957 33% Net retail revenue 46,498 34,807 33.6% Gross profit 12,386 9,019 37.3% As % of ne
Slide 5: H1 2011 Consolidated Income Statement Highlights
H1 2011 Consolidated Income Statement Highlights Russian rubles, million H1 2011 H1 2010 REVENUE 46,502 34,957 COST OF SALES (34,116) (25,938) GROSS PROFIT 12,386 9,019 Selling, general and administrative expenses (11,765) (8,516) Other operating income 575 361 Other operating expenses (55) (42) OPE
Slide 6: Operating Expenses
Operating Expenses Russian rubles, million H1 2011 as % of H1 2010 as % of revenue revenue Payroll and related taxes 3,301 7.1 2,414 6.9 Lease expenses (rent) 2,262 4.9 1,896 5.4 Advertising and promotional expenses 1,529 3.3 1,098 3.1 Transportation 1,009 2.2 544 1.5 Warehouse services 641 1.4 500
Slide 7: EBITDA(R)
EBITDA(R) Russian rubles, million H1 2011 H1 2010 Net profit for the period 766 518 Income tax expense 379 325 Finance income, net (4) (21) Depreciation and amortization 765 613 EBITDA 1,906 1,435 Rent expense 2,262 1,896 EBITDAR 4,168 3,331 EBITDA(R) - Earnings before interest, taxes, depreciation
Slide 8: H1 2011 Consolidated Balance Sheet Summary
H1 2011 Consolidated Balance Sheet Summary Russian rubles, million 30 June 2011 31 Dec 2010 NON-CURRENT ASSETS: Property, plant and equipment 7,653 7,417 Other 3,157 2,821 Total non-current assets 10,810 10,238 CURRENT ASSETS: Inventories 16,721 20,751 Trade and other accounts receivable and prepaid
Slide 9: H1 2011 Consolidated Balance Sheet Summary (continued)
H1 2011 Consolidated Balance Sheet Summary (continued) Russian rubles, million 30 June 2011 31 Dec 2010 EQUITY: Total equity 10,184 10,065 NON-CURRENT LIABILITIES: Deferred tax liabilities 432 327 Provisions 135 147 Total non-current liabilities 567 474 CURRENT LIABILITIES: Short-term loans and borr
Slide 10: Trade Conversion Cycle
Trade Conversion Cycle H1 2011 Trade conversion cycle, days H1 2010 Trade conversion cycle, days 120 120 100 100 7 4 80 80 60 60 87 83 97 89 40 40 20 20 17 10 0 0 Inventory Accounts Trade accounts Trade Inventory Accounts Trade accounts Trade receivable payable conversion receivable payable conversi
Slide 11: H1 2011 Consolidated Cash Flow Statement
H1 2011 Consolidated Cash Flow Statement Russian rubles, million H1 2011 H1 2010 OPERATING ACTIVITIES: Total comprehensive income for the period 766 518 Adjustments 1,567 1,326 Operating cash flows before movements in working capital 2,333 1,844 Change in working capital (5,599) (6,287) Cash used in