According to company reports, cloud provider Selectel doubled its IFRS net profit in 2023, amounting to 2.8 billion rubles. Selectel’s revenue at the end of last year increased by 26% to 10.2 billion rubles. The main contribution to revenue growth was made by the supplier’s flagship products.
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Adjusted EBITDA also increased to 5.7 billion rubles, an increase of 35%. The adjusted EBITDA margin was 55%.
As can be seen from the report, Selectel’s star products represent up to 80% of the company’s total turnover. Private clouds based on dedicated servers showed 25% revenue growth. The company explains the indicator by the greater demand for servers of arbitrary configurations by the large players in the market.
The report also reflects increased demand for servers from Selectel’s cloud platform. Public and private clouds showed 35% growth.
At the end of 2022, the number of Selectel customers amounted to 22.2 thousand and at the end of 2023 the figure increased to 24 thousand.
The growth of indicators is observed in the direction of the company’s PaaS (platform as a service) products. In particular, container infrastructure management service Managed Kubernetes showed a 70% increase in revenue. Rapid cloud database management and deployment service DBaaS revenue grew more than 50% in 2023.
Thus, the growth of the cloud market in Russia and sustainable profitability allow the company to plan the expansion of both the infrastructure and the customer group.
In 2023, media reported that Selectel was considering going public.
Last week, technology holding VK reported its financial results for 2023. The company increased its IFRS revenue by 36% to 132.8 billion rubles.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
