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Avito AB Trading Statement

by Elena Duovski
News, 15 March 2016
In Naspers press releases

Avito AB Trading Statement

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 4th quarter 2015. During 2014 and 2015 all revenues were generated from the Avito.ru website.

Key performance indicators for the 4th quarter 2015:

• Revenues of RUB 2 145m1 (USD 22.0m2), grew by 70% compared to RUB 1 262m in Q4 2014.
• Adjusted EBITDA margin of 42% or RUB 908m1 (USD 12.8m2), compared to 39% or RUB 489m in Q4 2014.
• Page views3 amounted to 29bn (mobile views – 50%4) compared to 23bn (mobile views – 37%4) for the same period of the previous year.

Key performance indicators for the 12 months ended 30 December 2015:

• Revenues of RUR 6 674m1 (USD 83.7m2), grew by 55% compared to RUR 4 305m.
• Adjusted EBITDA margin of 49% or RUR 3 286m1 (USD 41.2m2), compared to 51% or RUR 2 178m.
• Page views3 amounted to 104bn (mobile views – 46%4) compared to 75bn (mobile views – 32%4) for the previous year.

In May 2014 Avito AB set up a subsidiary Domofond Holding AB (“Domofond, together with Korbitec Singapore PTE LTD, 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 2015 Avito invested material amounts in Domofond. In 2015 Domofond launched TV-campaigns in the 15 largest cities in Russia, including Moscow and St. Petersburg.

In November 2015, Avito acquired 84.4% of Checkout LLC, operating the online delivery service aggregator checkout.ru.
On 15 December 2015, Naspers increased its stake in Avito AB to 67.5% on a fully diluted basis. Further to the deal
closing Avito declared and paid out dividends to remaining shareholders to the amount of USD 225m.

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
15 March 2016

 

                                             

1 Source: non-audited IFRS data.
2 Russian ruble amount has been translated into US dollars at a rate of RUR 79.6972 to $1.00, the official exchange rate quoted as of December 31, 2015 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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