VK IFRS revenue rises 36% to 57.3 bln rbl in Jan–Jun

MOSCOW, Aug 10 (PRIME) -- Revenue of Russian Internet company VK increased 36% on the year to 57.3 billion rubles in January–June, and the growth was mainly driven by online advertising sales that grew 51% to 35.1 billion rubles, as calculated under International Financial Reporting Standards (IFRS), the company said on Thursday in a statement.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) amounted to 3.9 billion rubles with the EBITDA margin of 6.8%.

The total comprehensive loss narrowed by 44.7 billion rubles from 53.5 billion rubles in January–June 2022 to 8.8 billion rubles “due to the restructuring and optimization of the group’s assets, among other reasons.”

Users of VK services accounted for more than 95% of the country’s monthly online audience as of the end of June.

(97.3999 rubles – U.S. $1)

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