Ozon Holdings PL group revenue in the third quarter of 2024 increased by 41% compared to the same period last year, up to 153.7 billion rubles. This was influenced by the growth in income from the provision of services and the four-fold increase in the percentage of income, as can be seen from the company’s report.
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The company’s gross profit increased fivefold and amounted to 27.1 billion rubles, which is due to the improvement of unit economics in the e-commerce segment and the growth of fintech revenues, according to the market materials. Adjusted EBITDA reached a positive value of 13 billion rubles, while a year earlier the value was negative: minus 3.9 billion rubles.
Losses for the third quarter decreased by 21.3 billion rubles to 700 million rubles. The company explained this by an increase in gross profit, a one-time insurance payment of 6.4 billion rubles related to the fire in New Riga and a decrease in net financial expenses due to a positive revaluation of derivative financial instruments .
Net cash flow from operating activities tripled and amounted to 75.3 billion rubles.
In the e-commerce segment, revenue increased by 31% and reached 135.8 billion rubles. Turnover (GMV), including services, increased by 59% and the number of active buyers increased by 11 million, reaching 54 million people.
Course: How to get to the first Ozon search results
In the fintech segment, revenue increased by 197%, reaching 24.4 billion rubles. The volume of loans provided to clients amounted to 69.7 billion rubles, which is 109% more than last year. The number of active fintech clients grew by 68% and amounted to 27 million. The main payment method on the market is the Ozon Card, which represents more than 30% of all transactions.
The company’s total revenue for the first nine months amounted to 399.1 billion rubles, a year-on-year increase of 35%. Gross profit in January-September amounted to 64.1 billion rubles, adjusted EBITDA – 21.6 billion rubles, follows from the report.
The company expects revenue to grow between 60% and 70% in 2024 and adjusted EBITDA to remain positive.
In September Ozon entered the Georgian market: this is the eighth country where the market operates. In addition to Georgia, the Ozon market operates in Russia, Belarus, Armenia, Kazakhstan, Azerbaijan, Kyrgyzstan and Uzbekistan.
Author:
Karina Pardaeva
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.
