Slide 1: Year 2011 Consolidated Audited Financial Statements Presentation
OJSC “Company “M.video” Year 2011 Consolidated Audited Financial Statements Presentation Moscow, April 5, 2012. 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: 2011 Highlights
2011 Highlights Inspiring FY 2011 results of Russia’s largest consumer electronics retailer Revenue growth by almost 30% and strong like-for-like performance of 10% y-o-y Network expansion: opened 44 stores, for the second subsequent year Net cash position of more than 13 billion RUB Improvemen
Slide 4: FY 2011 Key Financial Indicators
FY 2011 Key Financial Indicators Russian rubles, million 2011 2010 y-o-y, % Net revenue 111,937 86,565 29.3% Gross profit 29,267 22,361 30.9% As % of net revenue 26.2 25.8 0.4% Operating expenses* 24,666 19,127 28.9% As % of net revenue 22.0 22.1 (0.1%) Operating profit (EBIT) 4,601 3,234 42.3% As %
Slide 5: FY 2011 Consolidated Income Statement Highlights
FY 2011 Consolidated Income Statement Highlights Audited Russian rubles, million 2011 2010 REVENUE 111,937 86,565 COST OF SALES (82,670) (64,204) GROSS PROFIT 29,267 22,361 Selling, general and administrative expenses (26,113) (19,893) Other operating income 1,549 904 Other operating expenses (102)
Slide 6: Operating Expenses
Operating Expenses Audited Russian rubles, million 2011 as % of 2010 as % of revenue revenue Payroll and related taxes 7,112 6.4 5,356 6.2 Lease expenses (rent) 5,327 4.8 4,139 4.8 Advertising and promotional expenses, net 3,237 2.9 2,729 3.2 Transportation 2,380 2.1 1,371 1.6 Warehouse services 1,5
Slide 7: EBITDA(R)
EBITDA(R) Russian rubles, million 2011 2010 Net profit for the year 3,374 2,221 Income tax expense 1,264 1,041 Finance income, net (37) (28) Depreciation and amortization of non-current assets 1,638 1,289 EBITDA 6,239 4,523 Rent expense 5,327 4,139 EBITDA(R) 11,566 8,662 As % to revenue 10.3% 10% EB
Slide 8: FY 2011 Consolidated Balance Sheet Summary
FY 2011 Consolidated Balance Sheet Summary Audited 31 December 31 December 2011 2010 ASSETS NON-CURRENT ASSETS: Property, plant and equipment 8,920 7,417 Other 3,789 2,821 Total non-current assets 12,709 10,238 CURRENT ASSETS: Inventories 24,487 20,751 Trade accounts receivable and prepaid expenses
Slide 9: FY 2011 Consolidated Balance Sheet Summary (continued)
FY 2011 Consolidated Balance Sheet Summary (continued) Audited 31 December 31 December 2011 2010 EQUITY AND LIABILITIES EQUITY: Total equity 12,827 10,065 NON-CURRENT LIABILITIES: Total non-current liabilities 417 474 CURRENT LIABILITIES: Trade accounts payable 32,673 25,046 Other payables and accru
Slide 10: FY 2011 Consolidated Cash Flow Statement
FY 2011 Consolidated Cash Flow Statement Audited 2011 2010 OPERATING ACTIVITIES: Total comprehensive income for the year 3,374 2,221 Non-cash adjustments and tax 3,089 3,207 Operating cash flows before movements in working capital 6,463 5,428 Change in working capital 5,302 214 Cash generated by ope
Slide 11: Working Capital Improvement
Working Capital Improvement 2011 Trade conversion cycle, days 2010 Trade conversion cycle, days 120 120 100 100 80 80 60 60 3 2 40 72 40 71 54 59 20 20 0 0 (16) (9) (20) (20) (40) (40) Inventory Accounts Trade Trade Inventory Accounts Trade Trade receivable accounts conversion receivable accounts co