Vostok New Ventures Ltd: Avito AB Trading Statement 2nd quarter 2017

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| Source: Vostok New Ventures Ltd.
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Stockholm, 2017-08-16 08:00 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 and key performance indicators for the second quarter 2017.

 

Avito owns and operates Russia's largest online classifieds website, Avito.ru. In 2017 all substantial revenues were generated from the Avito.ru website.

 

Key performance indicators second quarter 2017

−       Revenues of RUB 3 865 mln (USD 65.4 mln), grew by 32% compared to RUB 2 927 mln in Q2 2016. 


−       Adjusted EBITDA* margin of 64% or RUB 2 458 mln (USD 41.6 mln), compared to 60% or RUB 1 747 mln in Q2 2016. 


−       Listers amounted to 12.0 Mln and grew by 7% compared to 11.2 Mln for the same period of the previous
year. 






Key performance indicators first six months 2017

−       Revenues of RUB 7 155 mln (USD 121.1 mln), grew by 38% compared to RUB 5 176 mln in 1H 2016. 


−       Adjusted EBITDA* margin of 62% or RUB 4 460 mln (USD 75.5 mln), compared to 54% or RUB 2 814 mln in 1H 2016. 


−       Listers amounted to 23.3 mln and grew by 9% compared to 21.4 mln for the same period of the previous
year. 






 

In May 2014 Avito AB set up a subsidiary Domofond Holding AB (“Domofond”), together with Property24, 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 does not generate any significant revenues. In March 2017 Avito AB became the sole shareholder of Domofond.


 


 

Avito provides no guidance on future performance. 


 

All USD amounts have been translated with the USD/RUB rate 59.0855 as per June 30, 2017.

 

*Adjusted EBITDA means net profit plus (1) depreciation and amortization expenses, (2) share-based compensation expense, (3) finance costs including fair value adjustments of derivative under current office lease agreement (4) income tax expense less (A) finance income and expenses.

 

 

For further information please contact:
Björn von Sivers, Head of Investor Relations, Tel +46 8 545 015 50

 

Vostok New Ventures Ltd, formerly Vostok Nafta Investment Ltd, is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.

 

This information is information that Vostok New Ventures Ltd is required to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CEST on August 16, 2017.