For immediate release

OJSC “Company “M.video” reports 13% sales growth in H1 2013.

Moscow, July 18, 2013. OJSC “Company “M.video” (RTS, MICEX: MVID), Russia’s largest consumer electronics retailer by revenue, announced today its unaudited sales, like-for-like sales (LfL) and expansion results for the 1st half and 2nd quarter of 2013.

H1 2013 Highlights:

·  Sales increased by 13.2% to 78.3 billion Russian rubles (RUB), with VAT;

·  Like-for-like sales increased by 2.5%;

·  Online sales grew by 62.4%

·  18 new stores opened, selling space increased to 555,500 sq. m.

Q2 2013 Highlights:

·  Sales increased by 14.7% to 34.7 billion RUB, with VAT;

·  Like-for-like grew by 2.8%.

In H1 2013 M.video sales reached 78.3 billion Russian rubles (RUB), including VAT, demonstrating a 13.2% growth as compared to H1 2013. The Company’s LfL sales in H1 2013 increased 2.5% year-on-year. M.video on-line sales grew by 62.4% in H1 2013 to 2.95 billion RUB, including VAT.

In Q2 2013 M.video sales increased 14.7% and LfL sales were +2.8% versus Q2 2012.

M.video opened 18 new stores in H1 2013 (9 new stores in Q2 2013). The total number of the Company’s stores increased to 312 in 139 cities. The selling space of M.video network amounted to 555,500 sq. m while the total space amounted to 749,000 sq. m. as of June 30th, 2013.

Alexander Tynkovan, President and CEO of OJSC “Company “M.video”, said: “M.video is demonstrating excellent trading results both in stores and in our growing Internet operations. We’re also on track to open 35 new stores in 2013”.

He added: “As it was previously announced we continue to expand our online proposition to our customers in Russia and will open 20 new Internet cities in July 2013. More customers can then decide how to shop for consumer electronics based upon what is more convenient for them. Our Omni-Channel approach is designed with our customers’ convenience in mind”.

* * *

Summary of the 1st half and 2nd quarter 2013 performance:

Sales*
H1 2013 / H1 2012 / % change y-o-y / Q2 2013 / Q2 2012 / % change y-o-y
RUB million, with VAT / 78,284 / 69,140 / 13% / 34,677 / 30,238 / 14.7%
RUB million, without VAT / 66,342 / 58,593 / 29,387 / 25,625
On-line Sales Performance
H1 2013 / H1 2012 / % change y-o-y
RUB million, with VAT / 2,951 / 1,817 / 62.4%
RUB million, without VAT / 2,501 / 1,540
LfL Sales Performance**
1H 2013 LfL Dynamics, % / Q2 2013 LfL Dynamics, %
Russian rubles / 2.5% / 2.8%
Expansion
As of
30 June 2013 / As of
31 December 2012 / New
1H 2013 / % change
Stores / 312 / 296 / 16*** / 5.4%
Selling space, sq.m / 555,500 / 537,000 / 18,500*** / 3.5%
Total space, sq. m / 749,000 / 723,000 / 26,000*** / 3.6%

* - comparative 2012 numbers are based on the reported IFRS results.

** - LfL data is based upon a comparison of stores open at January 1, 2011 and not closed for more than two weeks or permanently, or expanded or downsized by >20% of total space.

*** - net of closing 2 stores in Q1 2013

Note for editors:

OJSC “Company “M.video” is the largest Russian consumer electronic retail chain by revenue. The Company started its operations in 1993. In November 2007 OJSC “Company “M.video” became the first publicly traded company in the domestic consumer electronic retail sector. The Company’s shares are traded on Russian RTS and MICEX (ticker: MVID).

M.video runs 312 brand name stores in 139 Russian cities as of June 30, 2013. The selling space of M.video stores accounts to 555,500 sq. m while the total space accounts to 749,000 sq. m.

In FY 2012 the Company’s retail sales reached 158 billion RUB (with VAT) demonstrating 20% growth versus 2011. M.video sales per sq. m amounted to 308,000 RUB in 2012.

For more information please contact:

Media Contacts:

Anton Panteleev, PR manager

e-mail:

Tel: +7 (495) 644 28 48, ext. 7386

Investor Relations:

Denis Davydov, Investor Relations Director

e-mail:

Tel: +7 495 644 2848 ext. 7064