Marketplace Ozon GMV more than doubles to 450.8 bln rbl in Jul–Sep

MOSCOW, Nov 16 (PRIME) -- Russian marketplace Ozon’s gross merchandise value (GMV), including services, jumped to 450.819 billion rubles in July–September from 188.125 billion rubles in the same period a year earlier, the company said on Thursday in a statement.

Total revenue increased 77% to 108.963 billion rubles “mainly due to strong service revenue performance, in particular in marketplace commissions and advertising revenue.” The gross profit decreased 39% to 5.754 billion rubles.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) plunged to negative 3.910 billion rubles from 1.610 billion rubles “as we have increased strategic investments in customer engagement and our logistics infrastructure to accelerate GMV growth and strengthen our position in the Russian retail market.”

“Greater scale should lead to higher, sustainable profitability and stronger cash generation in the long term,” the company said.

The number of orders leaped to 251.1 million from 107.5 million a year earlier. The number of active buyers increased 30% to 42.4 million.

“Based on the current trends and outlook, Ozon has raised its guidance for the full year 2023. The company expects GMV including services to increase by 90–100% year-on-year and adjusted EBITDA to be positive for the full year 2023,” Ozon said.

(89.4565 rubles – U.S. $1)

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