Ozon has become profitable for the first time in its history. According to the results of the first quarter of this year, the market made a net profit of 10.7 billion rubles, with a loss of 19 billion rubles the previous year.
Marketplace Ozon reported a net profit of 10.7 billion rubles based on the results of work in the first quarter of 2023. During the same period last year, the market suffered a loss of 19 billion rubles.
The return to profitability in the first quarter at Ozon was explained by the “one-off non-cash effect of the bond restructuring.” In relation to the completion of the debt restructuring process, the market should reflect its revaluation, Ozon explained.
Ozon’s turnover increased by 71% to 303 billion rubles. Adjusted EBITDA (earnings before accumulated interest, taxes, depreciation and amortization) was a record high and reached 8 billion rubles. Total market revenue increased by 47% to 93.2 billion rubles.
Author:
Kirill Bilyk
Source: RB
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