Mail.ru Group increased 3-month IFRS revenue by 27.4%

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AK&M 04 May 2021 18:41

Aggregate net loss of Mail.ru Group, including its key strategic associates and JVs, increased to RUB 1.8 billion in the first quarter of 2021 from RUB 167 million in 1Q20, as follows from the group's financial statements.

Revenue increased by 27.4% year-on-year to RUB 28.3 billion, EBITDA by 8.1% to RUB 6.07 billion, with an EBITDA margin of 21.5%.

Mail.ru Group Limited is the holding company of a number of subsidiaries, including Russian operational companies. The company owns the leading Russian-language social networks Vkontakte and Odnoklassniki, an e-mail service, the Mail.ru web portal and three messengers. Mail.ru the Group also owns game projects united under the MY.GAMES brand. In 2019, the company launched the Mail.ru Group Tech Lab division engaged in the development of new technologies. Mail.ru Group owns a stake in AliExpress Russia, a joint venture owned together with Alibaba Group, MegaFon and RDIF, and develops the O2O platform in the food and transport segment together with Sberbank.