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Avito AB Trading Statement 1st quarter 2016

Avito AB Trading Statement 1st quarter 2016

Avito AB (“Avito” or the “Company”), which operates Russia’s largest online classifieds website, Avito.ru, hereby announces non-audited results and key performance indicators for the 1st quarter 2016. In 2016 all revenues were substantially generated from the Avito.ru website.

Key performance indicators for the 1st quarter 2016:

  • Revenues of RUB 2 249m1 (USD 33.3m2), grew by 86% compared to RUB 1 207m in Q1 2015.
  • Adjusted EBITDA margin of 47% or RUB 1 067m1 (USD 15.8m2), compared to 46% or RUB 560m in Q1 2015. 
  • Page views3 amounted to 33bn (mobile views – 54%4) compared to 26bn (mobile views – 41%4) for the same period of 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 propery 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 in the 1st quarter of 2016, including the funding of TV-campaigns in many cities in Russia.  

Avito provides no guidance on future performance. 

Use of non-GAAP financial measures 
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. 

Filip Engelbert 
CEO Avito AB
16 May 2016  

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  1. Source: non-audited IFRS data.
  2. Russian ruble amount has been translated into US dollars at a rate of RUR 67.6076 to $1.00, the official exchange rate quoted as of March 31, 2016 by the Central Bank of the Russian Federation.
  3. Source: Internal company information.
  4. The mobile views include mobile HTML and applications, tablets are counted as desktop views.

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