M.Video-Eldorado IFRS net loss narrows 10% to 6.7 bln rbl in 2022

MOSCOW, May 2 (PRIME) -- The net loss of Russia’s largest electronic goods and household appliances retailer M.Video-Eldorado narrowed by 10.2% on the year to 6.7 billion rubles in 2022, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on Tuesday.

Revenue decreased by 15.5% on the year to 402.5 billion rubles, and earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 26% to 14.4 billion rubles.

CEO Sergei Li said the company expects the EBITDA margin to amount to at least 4% in January–March 2023.

Gross merchandise value dropped by 14.3% to 488.9 billion rubles, value-added tax (VAT) included, in 2022, M.Video-Eldorado also said.

(80.5093 rubles – U.S. $1)

End