Yandex’ Oct–Dec US GAAP revenue jumps by 54% to 110 bln rbl

MOSCOW, Feb 15 (PRIME) -- Total revenue of Russia’s Yandex increased by 54% on the year to 110.328 billion rubles in October–December 2021, as calculated under the U.S.  GAAP standards, on a like-for-like basis, including Yandex.Market in 2020, the Internet company said on Tuesday in a statement.

“Based on the recent performance, we expect our total group revenues to be between 490 billion rubles and 500 billion rubles for the full year 2022,” the company said.

Online advertising revenue rose by 26% to 48.431 billion rubles. Total adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased by 29% to 9.720 billion rubles, and the total adjusted EBITDA margin lost 10.4 percentage points to 8.8%.

The net loss widened to 2.861 billion rubles from 95 million rubles.

In full 2021, total revenue increased 54% to 356.171 billion rubles. Online advertising revenue went up 27% to 166.618 billion rubles.

Total adjusted EBITDA fell by 29% to 32.143 billion rubles, and the total adjusted EBITDA margin lost 10.5 percentage points to 9%.

The company reported a 2021 net loss of 14.653 billion rubles after a 2020 net income of 20.309 billion rubles.

 (76.5762 rubles – U.S. $1)

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