Stockholm, 2016-11-16 07:55 CET (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 third quarter 2016.
Avito owns and operates Russia's largest online classifieds website, Avito.ru. During 2016 all substantial revenues were generated from the Avito.ru website.
Key performance indicators third quarter 2016
− Revenues of RUB 3 203 mln (USD 50.7 mln), grew by 83% compared to RUB 1 750 mln in Q3 2015.
− Adjusted EBITDA* margin of 59.7% or RUB 1 911 mln (USD 30.3 mln), compared to 58.5% or RUB 1 024 mln in Q3 2015.
− Page views amounted to 29 bln (mobile views – 57%) compared to 25 bln (mobile views – 47%) for the same period in the previous year.
Key performance indicators first nine months 2016
− Revenues of RUB 8 376 mln (USD 132.7 mln), grew by 85% compared to RUB 4 529 mln in 9M 2015.
− Adjusted EBITDA* margin of 56.4% or RUB 4 725 mln (USD 74.8 mln), compared to 52.5% or RUB 2 378 mln in 9M 2015.
− Page views amounted to 92 bln (mobile views – 55%) compared to 75 bln (mobile views – 42%) for the same period in 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. Avito continued to invest material amounts in Domofond during the first nine months of 2016, including the funding of TV-campaigns in many cities in Russia.
Avito provides no guidance on future performance.
All USD amounts have been translated with the USD/RUB rate 63.1581 as per September 30, 2016.
*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, 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 07.55 CET on November 16, 2016.
