Yandex: the e-commerce segment grew by 55% in III cartaleanu Saveliev | 28.10.2020
The company reported financial results for the third quarter of 2020. Consolidated revenue increased by 30% compared to last year and amounted to 58.3 billion rubles.
The net profit of Yandex was 21.9 billion rubles, an increase of 356% year-on-year, and EBITDA margin was 37.6 per cent. Adjusted net profit increased by 11% to 7.6 billion
rubles. Adjusted EBITDA increased by 8% to 15.1 billion.
Excluding Yandex.Market net profit amounted to 4.7 billion rubles, a decrease of 20% compared to the same period last year.
Search the company’s share on the Russian search market (including search on mobile devices) in the third quarter of 2020 amounted to an average of 59.3%, virtually no change from the second
quarter. Among all queries, while 58.7% had Android devices, but only with mobile gadgets it is 62,7% of the total.
Due to the pandemic, the number of subscribers of media services in the third quarter of 2020 reached 5.6 million, an increase of 121% compared to the same indicator at the end of the third quarter of 2019
year. The e-commerce segment, explained in the company, increased due to the performance of service for comparison of prices, whose revenues increased by 23%, and the marketplace, the gross value of goods which rose to
134%.
In fact, the results of the E-Commerce segment on a comparable basis are the results of Yandex.Market, and is as follows:
At the same time, the revenues related to the segment of Taxi (includes FoodTech and car sharing, which ensured the growth) increased by 55% compared with the same period of 2019, and 31% in
the structure of the company’s total revenue, whereas in the third quarter of last year it was 26%.
Other income in the third quarter year-on-year grew by 241% (98% excluding Yandex.Market) and amounted to 12% of the total revenue of the company. The growth was mainly driven by income growth of media services
from sales of subscriptions, with projects in the field of Internet of things (IoT), as well as with the development of Geoservices of Yandex.Cloud.
Also, since the third quarter, Yandex.Drive is transferred from the segment of the Experimental trends in a Taxi, but unmanned vehicles — on the contrary. “Edadil” also moved from the Search segment to
experimental. However, this group also added launched in July 2020 FINTECH-Yandex.Investment.
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