Avito trading statement second quarter 2015


Stockholm, 2015-07-30 08:04 CEST (GLOBE NEWSWIRE) --  

Vostok New Ventures Ltd's ("Vostok New Ventures") largest holding, Avito AB, has today released its trading statement with non-audited figures for the second 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 second quarter 2015

− Revenues of RUB 1 572mln (USD 28.3mln), up 47% compared with the second quarter 2014 (RUB 1 069mln).

− Adjusted EBITDA* margin of 50.5% or RUB 794mln (USD 14.3mln), compared with the second quarter 2014 (Adjusted EBITDA margin of 53.2% or RUB 569mln).

− Page views amounted to 24bln (mobile views – 44%) compared to 17bln (mobile views – 30%) for the same period previous year.

− Monthly audience in June 2015 according to TNS Russia (desktop traffic only) of 25.7mln compared to 25.8mln in June 2014.

 

Key performance indicators first six months 2015

− Revenues of RUB 2 779mln (USD 50.1mln), up 45% compared with the same period in 2014 (RUB 1 921mln).

− Adjusted EBITDA* margin of 48.7% or RUB 1 354mln (USD 24.4mln), compared with the same period 2014 (Adjusted EBITDA margin of 50.1% or RUB 962mln).

− Cash and cash equivalents as per the end of June 2015 in excess of USD 163mln.

− Page views amounted to 50bln (mobile views – 42%) compared to 34bln (mobile views – 28%) for the same period previous year.

 

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 and operate a property portal in Russia under the brand name Domofond. Domofond.ru is in a development state and is not generating any revenues. During the first 6 months of 2015 Avito invested material amounts in Domofond and Domofond launched TV-campaigns in the 15 largest cities in Russia including Moscow and St. Petersburg.

 

Avito provides no guidance on future performance.

 

Subsequent events after the end of the reporting period

On July 16, 2015 Avito completed a sale of its 48% share in its Moroccan associate, Le Rouge AB, which owns and operates the Avito.ma website for a cash consideration of USD 13.5 million.

 

All USD amounts have been translated with the USD/RUB rate 55.5240 as per June 30, 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 (0)8 545 015 50


Attachments

vnv_150730_eng.pdf