Stockholm, June 22, 2018 (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 full year period April 1, 2017 – March 31, 2018.
Avito owns and operates Russia's largest online classifieds website, Avito.ru. During the period all substantial revenues were generated from the Avito.ru website.
The financial year-end of Avito AB was changed from 31 December to 31 March to be coterminous with financial year-end of the Naspers Group.
Key performance indicators for the period April 1, 2017 – March 31, 2018
- Revenues of RUB 16 350 mln (USD 285.5 mln), grew by 29% compared to RUB 12 719 mln (USD 225.6 mln) for the same period previous year.
- Adjusted EBITDA* margin of 59.3% or RUB 9 694 mln (USD 169.28 mln), compared to 56.6% or RUB 7 196 mln (USD 127.64 mln) for the same period previous year.
- Annual unique listers amounted to 23.65 mln and grew by 4.7% compared to 22.59 mln for the same period of the previous year.
Avito provides no guidance on future performance.
Avito has advised us that henceforth it will be issuing trading statements on a bi-annual rather than quarterly basis.
All USD amounts have been translated with the USD/RUB rate 57.2649 as per March 31, 2018 and 56.3779 as per March 31, 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 15.00 CEST on June 22, 2018.
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