At the end of 2023, Yandex achieved revenue of 800 billion rubles, 53% more than in 2022, according to the company report. Net profit decreased to 21.7 billion rubles, 54% year-on-year.
Adjusted EBITDA reached 97 billion rubles, 51% more than at the end of 2022. The EBITDA margin amounted to 12.1% against 12.3% a year earlier.
The company’s share of the Russian search market was 63.4%, an increase of 1.5 percentage points (pp).
Revenue from the search and portals segment grew by 49% to 337.5 billion rubles, and from the e-commerce, RideTech and delivery segment by 61% to 421 billion rubles.
The balance of cash and cash equivalents as of December 31, 2023 amounted to 96.5 billion rubles.
Yandex again refrained from forecasting financial performance, traditionally explaining this by “the continued high degree of uncertainty about geopolitical and macroeconomic developments in the future.”
Author:
Anastasia Marina
Source: RB
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