PJSC M video : FY 2021 financial results

FULL YEAR 2021 FINANCIAL & OPERATIONAL RESULTS UPDATE

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BUSINESS UPDATE

FINANCIAL HIGHLIGHTS

APPENDIX

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KEY FY 2021 OPERATING AND FINANCIAL HIGHLIGHTS

Total	Online		Retail chain		EBITDA		Dividends2
571bn RUB	68%	+184		27.5 bn RUB		13.0 bn RUB
GMV1	Share of total online sales		New stores opened (net)		IAS 17-based EBITDA		Paid in dividends in 2021
+13%		45%	92%	5.8%	11.2%
GMW growth	Share of mobile		Share of sales made		IAS 17-based		The highest dividend yield
year-on-year	platform sales		using store infrastructure		EBITDA margin		among local retail peers

(1)	Gross merchandise value (GMV) includes purchases in retail stores (including pickup orders), orders paid for online and delivered, paid shipments to legal entities from warehouses. Purchases made in stores and online orders may be made by individuals
and legal entities. GMV includes sales of goods and services, which may be owned by the Company or agents. GMV includes VAT and excludes returns and discounts offered to customers for the reporting period. GMV is not revenue of the Company.	4
(2)	The information is provided based on dividends paid in 2021 for the full year 2020 and 1H21. The yield is calculated based on the average stock price during 2021.

• The Group increased its GMV by 13% to RUB 571 billion in 2021 driven by increasing penetration of online sales and, most notably, mobile platform that integrates customer and consultant apps.
• The continued implementation of OneRetail strategy came along with the resumed active chain expansion. The Group opened 184 new stores on a net basis in 2021, having entered 92 new towns.
• Stores continue to be an important competitive advantage of our business model thanks to distribution of stock close to our customers available through pickup (57% of stock was held in stores as of December 31, 2021), direct communications with customers and more efficient logistics. In 2021, 92% of the Group's sales were facilitated with the use of stores infrastructure.
• The Group's EBITDA grew 2% to RUB 27.5 billion due to a number of positive one-off items, while adjusted EBITDA fell notably YoY because of significant pricing pressures on the market, product shortages, logistics bottlenecks and a growing share of digital products in the sales mix.

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2021: STRONG GROWTH IN GMV

DRIVEN BY 29% INCREASE IN TOTAL ONLINE SALES

GMV		Identified active customers (IAC)1
(RUB bn)		(mn people)
	Share of total online sales (TOS)	Share of sales on mobile platform		OneRetail2		Non-OneRetail	Share of OneRetail customers

14%	31%	45%		34%	53%	62%
		571	Annual			19.7	Annual
		growth			growth
	505		GMV	16.6	18.7
				7.4
437			+13%	8.7	IAC
			11.0
						+5%
			Share of TOS
		68%
		+8pp			12.3
		60%				Share of
				10.0
					OneRetail
			Share				customers
						+9pp
			of Mobile Platform
	33%		+15pp		5.7
2019	2020	2021	2021	2019	2020	2021	2021

(1)	Identified active customer are identified customers who have made at least one purchase in the last 12 months.
(2)	The Company defines One Retail customers as those who signed in and made at least one purchase during the year through the web platform or mobile platform, including customer and consultant apps.	5
Source: Company data.

• The Group's GMV grew to RUB 571 billion in 2021, which represents 13% growth from 2020 base and 30% growth from a more normalized base of 2019.
• The growth was driven by 29% increase in online sales. The share of online sales increased by more than 8 percentage points to 68% of GMV.
• Mobile platform generated 67% GMV growth and reached 67% of online sales and 45% of total GMV in 2021 vs. 51% and 31%, respectively, in 2020.
• The customer base continues to be the Group's key business strength. In 2021, the number of identified active customers reached almost 20 million, of which 62% were OneRetail customers who feature 35% higher average ticket than non-OneRetail customers and higher purchasing frequency. The number of OneRetail customers grew 23%.

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