Last week Russia’s leading multi-category e-commerce platform, Ozon Group, announced its turnover rose to a record in the second quarter, as the global pandemic spurred more people to shop online. Turnover, or gross merchandise value (GMV), surged 188% year on year to 45.8 billion rubles ($611 million) in Q2 2020, Ozon said in a statement. In …
Last week X5 Retail Group, a leading Russian food retailer listed on the Moscow and London stock exchanges, announced that its online sales – through Perekrestok.ru and Delivery.Pyaterochka – amounted to 1.7 billion rubles (incl. VAT, approximately $22.6 million) in April. This is a 4.7-time increase in value from the same month of last year. …
In April, X5 Retail’s online sales increased 4.7 times year-on-year Read More
Last week Yandex, the NASDAQ-listed Russian Internet giant, announced its unaudited financial results for Q4 and FY 2019. Consolidated yearly revenues grew 37% from 2018, reaching 175.4 billion rubles ($2.83 billion). Yandex’s adjusted net income increased by a more modest 6% to 23.5 billion rubles ($380.3 million). These results are below what analysts had pencilled in, …
Russia’s flagship tech companies, LSE-listed Mail.Ru Group and NASDAQ-listed Yandex, both reported strong third-quarter results amid ongoing concerns over government proposals to limit foreign ownership in Russia’s largest technology companies. With revenues and earnings up at both companies, representatives confirmed they were lobbying the government to water down the potentially damaging legislation to the two …
Russia’s Yandex and Mail.Ru report strong growth despite ownership threats Read More
Last week RBC, a major business publication, released its ranking of Russian companies by revenue and profit with 34 economic sectors covered. Unsurprisingly the three top companies in this ranking – Gazprom, Lukoil and Rosneft – are from the oil and gas industry. They are followed by Sberbank, the state-controlled financial giant, and Russian Railways. …
Russia’s oil and gas majors generate 50 times as much in revenue as top tech companies Read More
Yandex is likely to enjoy a monopoly in the field of unmanned vehicles in Russia, and these activities could be valued at up to $7.7 billion by 2030. This is how UBS envisions Yandex’s prospects in this market, according to an analysis which was revealed last week by the Russian business daily RBC. Yandex’s commercial …
Self-driving vehicles could “make Yandex a much larger company,” believes UBS Read More
Lamoda, a Western-founded and managed Russian e-commerce leader in the fashion segment, saw its sales surge by 23.5% year-on-year in Q1 2019. During this quarter, the platform’s sales exceeded €111 million, including Lamoda’s business in Russia, Belarus, Ukraine, and Kazakhstan. Also included in this number are Lamoda’s marketplace sales. These grew more than threefold in …
Lamoda posts 23.5% sales growth year-on-year, develops marketplace model Read More
Today LSE-listed Mail.Ru Group, one of the leaders of the Internet market in Russians-speaking countries, released its financial results for the year ended 31 December 2018. This year saw the group’s revenue – including those of recently acquired UMA, grow 32.5% y-o-y to 75.26 billion rubles (approximately $1.85 billion), while its EBITDA reached 22.22 billion …
Mail.Ru Group revenues grew to $1.85 billion in 2018, up 32.5% year-on-year Read More
This past Friday Yandex, the NASDAQ-listed Russian search company, announced its unaudited financial results for Q4 2018 and FY 2018. The last quarter of the year saw the company’s revenues reach 38.8 billion rubles ($559.1 million), up 39% from Q4 2017, while its adjusted net income jumped to 6.9 billion rubles ($100 million), up 32% …
Yandex, the NASDAQ-listed Russian search giant, announced its quarterly earnings yesterday, demonstrating an impressive growth. Thus, in Q3 2018, the company’s revenues jumped to 32.6 billion rubles ($496.6 million), up 39% compared with Q3 2017, while its net income reached 4.8 billion ($72.7 million) a whopping 459% increase year-on-year (net income margin: 14.6%; adjusted net income 6.1 …
With 27 offices worldwide, Yandex demonstrated strong growth in Q3 2018 Read More
Yesterday Yandex, the NASDAQ-listed Russian search giant, announced its financial results for the Q4 and FY 2017. The last quarter of the year saw the company’s revenues reach 27.9 billion rubles ($483.7 million), up 26% from Q4 2016, while its adjusted net income jumped to 5.2 billion rubles ($91.1 million), up 62% year-on-year. (The inflation rate in …
Rosy 2017: Increased market share, revenues and profit for Yandex Read More
In its unaudited IFRS results made public last month, Mail.Ru Group, a leading LSE-listed Russian Internet group, has estimated “the negative effect of the blocking of its services in Ukraine in Q2 is around 1.5% of total revenues in 2017.” In mid-May, Ukrainian President Petro Poroshenko signed a decree applying sanctions to 468 legal entities …
Mail.Ru Group has lost 1.5% of its annual revenue after being banned in Ukraine Read More
