Slide 1: Year 2012 Consolidated Audited Financial Statements Presentation
OJSC “Company “M.video” Year 2012 Consolidated Audited Financial Statements Presentation Moscow, March 27, 2013. 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: 2012 Highlights
2012 Highlights Solid FY 2012 results of Russia’s largest consumer electronics retailer Revenue growth of almost 20% and strong like-for-like performance of 9.3% y-o-y Expansion: opened 42 stores plus 16 new Internet cities Net cash position of 7.5 billion RUB Improvements from top line to bott
Slide 4: Key Financial Indicators
FY 2012 Key Financial Indicators In millions of Russian rubles 2012 2011 y-o-y, % Sales (including VAT) 157,640 132,086 19.3% Net revenue 133,593 111,937 19.3% Gross profit 32,955 27,537 19.7% As % of net revenue 24.7 24.6 0.1% Operating expenses* 27,583 22,936 20.3% As % of net revenue 20.6 20.5 0.
Slide 5: Income Statement Highlights
FY 2012 Consolidated Income Statement Highlights Audited Russian rubles, million 2012 2011 REVENUE 133,593 111,937 COST OF SALES (100,638) (84,400) GROSS PROFIT 32,955 27,537 Selling, general and administrative expenses (29,376) (24,383) Other operating income 1,925 1,549 Other operating expenses (1
Slide 6: Operating Expenses
Operating Expenses Audited as % of as % of Russian rubles, million 2012 revenue 2011 revenue Payroll and related taxes 8,742 6.5 7,112 6.4 Lease expenses 6,480 4.9 5,327 4.8 Advertising & promotional expenses 3,665 2.7 3,289 2.9 Warehouse services 1,757 1.3 1,508 1.3 Utilities 1,331 1.0 1,070 1.0 Se
Slide 7: EBITDA(R)
EBITDA(R) Russian rubles, million 2012 2011 Net profit for the year 4,141 3,374 Income tax expense 1,413 1,264 Finance income, net (182) (37) Depreciation and amortization of non-current assets 2,153 1,638 EBITDA 7,525 6,239 Rent expense 6,480 5,327 EBITDA(R) 14,005 11,566 As % to revenue 10.5% 10.3
Slide 8: Balance Sheet Summary
FY 2012 Consolidated Balance Sheet Summary Audited Russian rubles, million 31 December 31 December 2012 2011 ASSETS NON-CURRENT ASSETS: Property, plant and equipment 9,645 8,920 Other 4,956 3,619 Total non-current assets 14,601 12,539 CURRENT ASSETS: Inventories 32,259 24,487 Accounts receivable and
Slide 9: Balance Sheet Summary (continued)
FY 2012 Consolidated Balance Sheet Summary (continued) Audited 31 December 31 December 2012 2011 EQUITY AND LIABILITIES EQUITY: Total eq uity 10,692 12,827 NON-CURR ENT LIABILITIES: Total non-current liabilities 208 417 CURRENT LIABILITIES: Trade accounts payable 35,586 32,673 Other payables and acc
Slide 10: Cash Flow Statement
FY 2012 Consolidated Cash Flow Statement 2012 Audited 2011 OPERATING ACTIVITIES: Total comprehensive income for the year 4,141 3,374 Non-cash adjustments and tax 4,840 3,089 Operating cash flows before movements in working capital 8,981 6,463 Change in working capital (3,469) (5,302) Cash generated
Slide 11: Working Capital
Working Capital 2012 Trade conversion cycle, days 2011 Trade conversion cycle, days 120 4 120 3 100 100 80 80 129 137 60 117 60 106 40 40 20 20 0 0 (8) (20) (28) (20) (40) (40) Inventory Accounts Trade accounts Trade Inventory Accounts Trade accounts Trade receivable payable conversion receivable pa