Russia's Ozon reports 55% jump in 2022 revenue

Russian online retailer Ozon (OZON.O) on Thursday said its 2022 revenue jumped 55% to 277.1 billion rubles ($3.4 billion) but costs related to a major fire a fulfilment center pushed it to a larger annual loss.

Ozon's gross merchandise value (GMV) - the total value of goods and services sold by the platform - jumped 86% to 832.2 billion rubles ($10.30 billion), the unaudited financial results showed.

The number of orders placed on the platform more than doubled to 465 million during the year, the company said. Losses rose 2% to 58.2 billion rubles.

Ozon is Russia's second-largest online retailer, behind privately-owned Wildberries. The company is currently appealing a decision by the US NASDAQ exchange to de-list its shares, which have not traded on the American bourse since February 2022, days after Russia ordered tens of thousands of troops into Ukraine and the West hit Moscow with an unprecedented package of economic sanctions.

For the fourth quarter of 2022, Ozon's GMV was up 67% at 296 billion rubles and losses shrank by 46% to 11.2 billion rubles compared to the same period of 2021, Ozon said. Revenue was up 41% year-on-year during the three months to 93.6 billion rubles.

The company also said its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) were positive in the fourth quarter at 3.9 billion rubles, compared to minus 15.9 billion rubles for the final three months of 2021.

($1 = 80.8000 rubles)

 

Reuters