Retailer Svyaznoy doubles turnover in Jan-May
MOSCOW. June 29 (Interfax) - Russian mobile phone retailer Svyaznoy more than doubled turnover year-on-year in January-May 2012 to 178.4 billion rubles, the company said in a press release.
The number of transactions in the five months grew 33% to 155 million.
The biggest rate of growth was seen in the financial payments segment, which surged 187% to 117 billion rubles. The Svyaznoy.ru online store saw turnover climb more than 228% to 2.9 billion rubles.
Svyaznoy sold 3.4 million mobile phones in January-May 2012, up 9% year-on-year. In monetary terms the mobile phone sales increased 18% to 15.3 billion rubles.
"The first five months of 2012 were very dynamic for us," the release cites Svyaznoy General Director Denis Lyudkovsky as saying. "We launched several potential projects: the Svyaznoy-Travel ticket sales services and a joint project with Tele2 to build a retail network. The results of the first 5 months are a serious foundation for the achievement of our ambitious targets in 2012."
Svyaznoy plans to boost revenue 37% in 2012 to $103 million, EBITDA by 34% to $228 million and the EBITDA margin to 8% from 7%. The company expects revenue from financial services to almost double in 2012 to $211 million from $109 million. Core revenue will still come from the sale of electronics - $2.47 billion, up 19% from $1.98 billion in 2011, including $1.28 billion from the sale of mobile phones (up 16.7%).
Svyaznoy is owned by Dutch company Svyaznoy N. V., which is controlled by the founder of the chain Maxim Nogotkov.
