Mail.Ru IFRS net profit tumbles 46.6% to 1.6 bln rbl in Jan–Mar

MOSCOW, Apr 25 (PRIME) -- The group aggregate net profit of Russian Internet company Mail.Ru Group plunged 46.6% on the year to 1.632 billion rubles in January–March, as calculated under International Financial Reporting Standards (IFRS), the company said on Thursday in a statement.

Group aggregate segment revenue grew 21.9% to 20.116 billion rubles, including figures of Delivery Club and Youla.

Group aggregate segment earnings before interest, taxes, depreciation and amortization (EBITDA) fell 25.9% to 4.150 billion rubles.

Excluding Delivery Club and Youla, the group aggregate net profit decreased 19.2% to 3.464 billion rubles. Group aggregate segment revenue grew 18.4% to 18.918 billion rubles. Group aggregate segment EBITDA lost 9.8% to 6.208 billion rubles.

The net cash position amounted to 3.955 billion rubles as of March 31.

“Despite the more pronounced seasonality year-to-year and more heavily January–March weighted games marketing, we are happy to reiterate our previous guidance excluding Delivery Club and Youla on a pro-forma basis; we expect 2019 revenue growth of 18–22% to 85–88 billion rubles and 2019 EBITDA under IFRS 16 of 32–34 billion rubles,” said Dmitry Grishin, chairman of the board, and Boris Dobrodeev, CEO (Russia).

(63.9798 rubles – U.S. $1)

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