Vostok New Ventures Ltd.
Other information disclosed according to the rules of the Exchange
Vostok New Ventures Ltd: Avito AB Trading Statement 3rd quarter 2017
Stockholm, 2017-11-15 08:00 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 and key performance indicators for the third 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 third quarter 2017
− Revenues of RUB 4 070 mln (USD 70.2 mln), grew by 27% compared to RUB 3 203 mln in Q3 2016.
− Adjusted EBITDA* margin of 57% or RUB 2 326 mln (USD 40.1 mln), compared to 60% or RUB 1 911 mln in Q3 2016.
− Listers amounted to 11.4 Mln and grew by 11% compared to 10.3 Mln for the same period of the previous
Key performance indicators first nine months 2017
− Revenues of RUB 11 225 mln (USD 193.5 mln), grew by 34% compared to RUB 8 376 mln in the first nine months 2016.
− Adjusted EBITDA* margin of 60% or RUB 6 789 mln (USD 117.0 mln), compared to 56% or RUB 4 725 mln the first nine months 2016.
− Listers amounted to 34.7 mln and grew by 9% compared to 31.7 mln for the same period of the previous
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 58.0169 as per September 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 CET on November 15, 2017.