According to analysts at Alfa-Bank, Euroset’s are set to grow, on average, by 26.1% annually until 2015, reaching an estimated 197.4 billion rubles (approximately $7 billion). EBITDA should hit 21.9 billion rubles ($776 million) by 2015, and net profit should rise to 15.02 billion rubles ($532 million).
Euroset, Russia’s leading mobile retailer, announced last week it would proceed this year with an IPO on the London Stock Exchange.
Alfa-Bank is a leading Russian bank whose subsidiary Alfa Capital Markets was chosen as a bookrunner for Euroset’s IPO.
With such growth, Euroset would outperform the consumer electronics and mobile devices markets, which should witness an annual growth of 11.3% and 7.2% respectively, according to J’son & Partners.
Euroset would reinforce its leadership, reaching a 47% market share—up from 29.8% in 2010—due in large part to monobrand outlets from its partnership with Beeline, a brand of leading mobile operator VimpelCom.
Russian business daily Vedomosti, however, quoted other analysts who regard Euroset’s prospects more cautiously.
Source: Vedomosti
