M.Video-Eldorado increases its GMV by 28% to RUB 177.2 billion in 1 quarter of 2022

PJSC M.video (M.Video-Eldorado Group, the Company, or the Group; MOEX: MVID), Russia’s leading e-commerce and consumer electronics retailer, announces its combined unaudited GMV for the first quarter ended March 31, 2022 (1Q 2022), as well as a business overview and key events for 1Q 2022 and after the reporting date.

1Q 2022 OPERATIONAL HIGHLIGHTS

• The Group’s gross merchandise value (GMV ) rose by 28.1% to RUB 177.2 billion (incl. VAT).
• Total online sales increased by 29.8% to RUB 119.9 billion (incl. VAT), accounting for 67.7% of the Group's GMV.
• Mobile platform turnover increased by 44.7% to RUB 82 billion, with a 68.4% share in total online sales.
• Average ticket amounted to RUB 12,341.
• The number of identified active customers totaled 19.3 million, with 64% of them classified as OneRetail customers versus 58% in 2021.
• M.Video and Eldorado customer mobile app downloads more than tripled year-on-year and reached 36 million.
• As at the end of March 2022, the M.Video and Eldorado store network consisted of 1,269 stores in all formats (an increase of 11 stores in three months), spanning 375 cities in Russia (6 new cities added during the period).

KEY DRIVERS OF 1Q 2022 PERFORMANCE

• In 1Q 2022, the growth rate of the Group’s GMV accelerated quarter-on-quarter and year-on-year to reach 28.1%. This was mainly driven by increased investment demand for household appliances and electronics in high price segments in late February and first half of March due to volatile ruble, unstable supplies, and multiple manufacturers leaving the Russian market. Some of the best-sellers were refrigerators, built-in appliances, computers and TV sets.
• Active growth of mobile platform and further development of OneRetail technology had a positive impact on the Group’s GMV. M.Video-Eldorado customers continued to make active use of mobile tools for purchases. Traffic to M.Video's and Eldorado's apps skyrocketed by 95%, with 1Q 2022 sales via the mobile platform growing by 44.7% to RUB 82 billion (over 46% of GMV versus 41% in 2021).
• Higher demand for major domestic appliances coupled with an increased need for professional consultation to navigate assortment changes and price fluctuations served to bring brick and mortar to the forefront when it came to browsing and making purchases. This made for a perfect opportunity to leverage the OneRetail platform and the Group’s extensive offline retail network featuring highly qualified personnel and well-oiled service. Importantly, 93% of all purchases were made using the Group’s store infrastructure.
• In 1Q 2022, M.Video-Eldorado opened 11 new stores and entered six new cities and towns, with over 50% of new openings (five stores) being small-scale outlets.
• Amid the FX volatility and problems in supply chain logistics, the Group is taking measures to tame price growth and provide competitive offering despite the challenging backdrop. These included price freezing, bringing back promotions, special credit offers and more.

SFI owns 10,4% M.Video-Eldorado shares. Read more about M.Video-Eldorado operational results here.