By the end of 2022, Yandex received revenue in the amount of 522 billion rubles, 46% more than in 2021. Adjusted net profit amounted to 10.8 billion rubles, an increase of 34%, according to the report from the company for the fourth quarter and 2022.
39% of the group’s revenue structure came from the Search and Portal segment, 21% from Raidtech and 17% from e-commerce. Other o2o services (online for offline – ed.) account for 8% of Yandex’s total revenue, Plus and entertainment services accounted for 5%, advertising services – 2%.
Adjusted EBITDA was RUB 64 billion vs. RUB 32 billion in 2021.
In 2022, the company allocated RUB 18.5 billion for additional payments to employees (compensation for the loss of options during 2022 and a lump sum payment in March 2022).
Yandex did not provide a forecast of financial indicators to 2023, citing limited forecasting ability “due to the continued high degree of uncertainty regarding geopolitical and macroeconomic events in the future.”
The company report also states that the group is “taking appropriate measures to conserve cash and effectively allocate capital and budget” and intends to continue investing in the development of key businesses and products.
Results of the company’s work as of the 4th quarter of 2022
The revenue of “Yandex” for the fourth quarter was 165 billion rubles, having increased by 49%. Adjusted EBITDA increased by 77% to RUB 17.2 billion. Net profit for the period fell by 72%, amounting to 747 million rubles.
Yandex’s total search share was 62.6% (an increase of 2.4 percentage points year-over-year).
- Revenue “Search and Portal” in the fourth quarter increased by 47%, 69.7 billion rubles. Growth was driven by improvements in search quality and ad technology. In subsequent periods, the company expects a gradual normalization of ad revenue growth rates.
- segment revenue “Electronic Commerce, Ridetech and Delivery” increased by 63%, reaching 85.7 billion rubles. The segment includes indicators of the taxi ordering service, Yandex.Market, Lavka, Food, Delivery Club, Yandex.Delivery and other services. The turnover (GMV) of the e-commerce segment for 2022 almost doubled compared to 2021 and amounted to 308 billion rubles. GMV accelerated growth through the introduction of IKEA Russia and effective pricing and marketing campaigns ahead of a period of high demand.
- segment revenue “Plus services and entertainment” (includes “Yandex.Plus”, “Music”, “Kinopoisk”, “Afisha”, “Studio”) grew by 84% – to 12 billion rubles. The growth is due to an increase in sales revenue from the Yandex.Plus subscription.
- advertising services (Avto.ru, Yandex.Real Estate, Yandex.Rent and Yandex.Travel) increased their revenue by 54% to RUB 4 billion due to the growing demand for services and changes in the competitive environment of the domestic market.
Author:
anastasia mariana
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.
