Vostok New Ventures Ltd: Avito AB Trading Statement fourth quarter 2017
Stockholm, Feb. 14, 2018 (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 fourth 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 fourth quarter 2017
- Revenues of RUB 4 241 mln (USD 73.6 mln), grew by 29% compared to RUB 3 299 mln in Q4 2016.
- Adjusted EBITDA* margin of 53% or RUB 2 232 mln (USD 38.7 mln), compared to 47% or RUB 1 536 mln in Q4 2016.
- Listers amounted to 12.2 mln and grew by 8% compared to 11.3 mln for the same period of the previous year.
Key performance indicators full year 2017
- Revenues of RUB 15 466 mln (USD 268.5 mln), grew by 32% compared to RUB 11 678 mln for the full year 2016.
- Adjusted EBITDA* margin of 58% or RUB 9 018 mln (USD 156.6 mln), compared to 54% or RUB 6 261 mln for the full year 2016.
- Listers amounted to 46.9 mln and grew by 9% compared to 43 mln for the same period of the previous year.
Avito provides no guidance on future performance.
Avito has advised us that henceforth it will be issuing trading statements on a bi-annual rather than quarterly basis.
All USD amounts have been translated with the USD/RUB rate 57.6002 as per December 31, 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.
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 07.58 CET on February 14, 2018.