Sales of M.Video-Eldorado in 2022 decreased by 14.3% – Kommersant
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The total sales of the M.Video-Eldorado Group in 2022 decreased by 14.3% year-on-year to RUB 488.9 billion. VAT included, should from reporting. The Group’s adjusted net loss under International Financial Reporting Standards (IFRS) decreased by 10.2% to RUB 6.7 billion.
Revenue decreased by 15.5% to RUB 402.4 billion. EBITDA fell by 26% to RUB 14.4 billion, adjusted EBITDA increased by 69.5% to RUB 15.4 billion. Traffic, including online channels and stores, decreased by 7.2%. This was explained by a general decrease in demand in the electronics market in the second half of the year.
In March, electronics suppliers and chain stores reported that in the first eight weeks of 2023, sales of consumer telecom electronics (smartphones, headphones, etc.) fell by 11-12% in units and 32-40% in money terms. According to market participants, the decline was due to the fact that buyers are starting to save more and more.
Details – in the material “Kommersant” “The electronics market is getting cheaper”.
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