Mail.ru Group published its unaudited results 2Q2019Анна Saveliev | 25.07.2019
In the second quarter of 2019 revenues Mail.ru Group excluding Delivery Club and eSports holding ESforce grew by 22.9% and amounted to more than 20 billion rubles. Thus, according to unaudited
according to IFRS, EBITDA compared to the same period last year increased by 21.6% to 7 220 million Rubles.
Total net profit increased 71.8% to approximately 3 240 million. Mail.ru Group noted that growth is associated with a non-cash write-off of 630 million rubles in the second quarter of 2019 and 1.69 billion
rubles in the second quarter of 2018. Excluding these expenses, the net profit increased by 8%.
Thus, the results for the six months, excluding Delivery Club and ESforce, the company’s revenue increased by 22.4% to 39 463 million rubles, and EBITDA up 6.4% to 12 747 million rubles. Total net
profit increased by 14.4%. Net debt as at 30 June 2019 amounted to 472 million rubles.
In the first quarter of 2019 from ESforce was negative EBITDA, but in the second it is already possible to observe significant improvement. They are associated with the termination of the enterprises data Delivery Club
and Esforce in the report. In the first quarter of Delivery Club not out in the operating profit and the group continued to invest heavily in its development. Also recall the intention Mail.ru Group exchanged its 51% stake Esforce 16% share in the Modern Pick. The deal is not yet closed.
In the second quarter of Delivery Club have received 865 million in revenue, which is 1.9 times more than in the same period in the previous year. The company hopes that by the end of the year she will be able to double this figure. When
this on the basis of Delivery Club plans to create a SP Mail.ru Group and Sberbank.
The forecast for the end of 2019 as follows: revenues will increase by 22-24% or 86-88 billion rubles, the income of the service personal ads Yula will amount to RUB 2 billion and a negative EBITDA of 2
billion rubles, which will negatively affect the profitability of the entire group.
A detailed report can be found on the website of the group.
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