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M.Video PJSC profit misses consensus by 39.8% in H2

M.Video PJSC said its second-half normalized net income was 10.32 Russian rubles per share, compared with the S&P Capital IQ consensus estimate of 17.15 rubles per share.

EPS fell 68.1% year over year from 32.39 rubles.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.86 billion rubles, a decrease of 68.0% from 5.82 billion rubles in the prior-year period.

Total revenue decreased 12.2% year over year to 91.23 billion rubles from 103.86 billion rubles, and total operating expenses decreased 6.6% on an annual basis to 88.24 billion rubles from 94.47 billion rubles.

Reported net income fell 68.2% on an annual basis to 2.24 billion rubles, or 12.44 rubles per share, from 7.05 billion rubles, or 39.26 rubles per share.

For the year, the company's normalized net income totaled 20.94 rubles per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 27.68 rubles.

EPS declined 44.4% from 37.69 rubles in the prior year.

Normalized net income was 3.76 billion rubles, a fall of 44.4% from 6.77 billion rubles in the prior year.

Full-year total revenue declined 6.4% year over year to 161.69 billion rubles from 172.71 billion rubles, and total operating expenses fell on an annual basis to 156.07 billion rubles from 161.95 billion rubles.

The company said reported net income fell 44.4% on an annual basis to 4.55 billion rubles, or 25.33 rubles per share, in the full year, from 8.17 billion rubles, or 45.53 rubles per share.

As of March 24, US$1 was equivalent to 69.29 Russian rubles.