Stockholm, 2015-04-30 08:00 CEST (GLOBE NEWSWIRE) --
Vostok Nafta Investment Ltd's ("Vostok Nafta") largest holding, Avito AB has today released its trading statement with non-audited IFRS figures for the first quarter 2015.
Avito owns and operates Russia’s largest online classifieds site, Avito.ru. During 2014 and 2015 all revenues were generated from Avito.ru
Key performance indicators first quarter 2015
− Revenues of RUB 1 207mln (USD 20.6mln), up 42 % compared with the first quarter 2014 (RUB 852mln).
− Adjusted EBITDA* margin of 46.4% or RUB 560mln (USD 9.6mln), compared with the first quarter 2014 (Adjusted EBITDA margin of 46.1% or RUB 393mln).
− Avito’s cash and cash equivalents in excess of USD 152mln at the end of the first quarter.
− Page views amounted to 26bln (mobile views – 41%) compared to 17bln (mobile views – 27%) for the same period previous year.
− Monthly audience in March 2015 according to TNS Russia (desktop traffic only) of 27.4mln compared to 25.8mln in March 2014.
In May 2014, Avito AB setup a subsidiary - Domofond Holding AB (“Domofond”) together with Korbitec Singapore PTE LTD, a subsidiary of the Naspers group, to jointly develop a property portal in Russia under the brand name Domofond and operate the website Domofond.ru. Domofond.ru is in a development state and is not generating any revenues. During the 1st quarter 2015 Avito invested material amounts in Domofond. Domofond.ru launched TV-campaigns in Moscow, St.Petersburg and the 13 most populated cities in Russia.
Avito provides no guidance on future performance.
All USD amounts have been translated with the USD/RUB rate 58.4643 as per March 31, 2015.
*Adjusted EBITDA means net profit plus (1) depreciation and amortization expenses, (2) share-based compensation expense, (3) income tax expense less (A) finance income and expenses.
For further information please contact:
Björn von Sivers, Investor Relations, Tel +46 8 545 015 50
