Ozon swings to 1.6 bln rbl adjusted EBITDA in Jul–Sep

MOSCOW, Nov 15 (PRIME) -- Russian online retailer Ozon posted adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of 1.6 billion in July–September as compared with EBITDA of minus 11.3 billion rubles in the same period of 2021, the company said in a statement on Tuesday.

In April–June, the company posted positive EBITDA figures of 0.2 billion rubles for the first time as compared with a result of minus 9.1 billion rubles in the same period of 2021.

The net loss amounted to 20.7 billion rubles in July–September, of which 10.8 billion rubles were attributed to losses linked to the fire at Ozon’s Moscow Region-based warehouse that took place in August. Disregarding the factor, the company’s net loss narrowed by 29% on the year to 9.9 billion rubles in the period.

Gross merchandises value (GMV) grew by 74% on the year to 188.1 billion rubles in July–September, and almost doubled to 536.2 billion in January–September.

The company retained its full-2022 GMV growth forecast at least 80%.

Cash and its equivalents and short-term deposits as of September 30 were seen unchanged from June 30 at U.S. $1.1 billion.

(60.3982 rubles – U.S. $1)

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