Ozon’s quarterly revenue increased 61% while net losses rose 82%, the company reported. The market linked the fall in profits to the adverse effect of exchange differences and the increase in financial costs.
Ozon has reported on the second quarter of 2023, a press release with the company’s financial performance is published on its website.
Ozon’s total revenue in the second quarter grew by 61% to 94.1 billion rubles, of which 37.2 billion rubles came from sales (+32%) and 56.9 billion rubles (+ 88%) of services.
Ozon’s net loss increased by 82%, from 7.2 billion rubles in the second quarter of 2022 to 13.1 billion rubles in the current reporting period. Ozon attributed the fall in profits to the increase in financial expenses and the adverse effect of the difference in exchange rates.
Active buyers on the site increased by 29% (39.5 million), the number of orders increased by 131% to 209 million.
Ozon’s shares on the Moscow Stock Exchange reacted to the publication of the report with a fall of 4.1%.
Author:
Kirill Bilyk
Source: RB
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