Ozon Bank LLC (an indirect subsidiary of Ozon Holdings PLC) has been sanctioned by the European Union. This was reported by Ozon.
The EU sanctions imposed against Ozon Bank prohibit EU individuals from making transactions with Ozon Bank. These sanctions do not apply to blocking EU sanctions, and Ozon Bank was not included in the list of persons whose assets should be frozen under EU sanctions.
The sanctions imposed by the EU against Ozon Bank do not apply to the company and other members of the Ozon Group. Ozon Bank has no subsidiaries, and it does not directly or indirectly own shares or stakes in the company or other members of the Ozon Group.
Ozon Bank operates exclusively in Russia, where it serves consumers, as well as small and medium-sized businesses. He is not involved in the activities of the Ozone Group in Cyprus, China, Turkey or other jurisdictions outside of Russia.
The management of Ozon believes that the inclusion of Ozon Bank under EU sanctions will not have a significant negative impact on the business of the Ozon group, based on the information currently available.
Ozon Bank is a large Russian bank. It functions primarily as a remote online bank, although it has a Moscow office. Since May 2021, it has been under the control of Ozon Holding. In 2023, Ozon Bank completed its reorganization in the form of a merger.
Ozon is a multicategory e—commerce platform operating in Russia, Belarus, Kazakhstan, Kyrgyzstan, Armenia, Uzbekistan, China and Turkey.
Ozon's revenue for 2024 increased by 45% to RUB 615.7 billion. compared to a year earlier. Gross profit increased by 126% to 99.9 billion rubles. Adjusted EBITDA reached RUB 40.1 billion. The loss for the period amounted to 59.44 billion rubles against a loss of 42.66 billion rubles.
The loss of Ozon Holdings PLC for the first quarter of 2025 amounted to 7.89 billion rubles against a loss of 13.166 billion rubles a year earlier. Revenue increased by 65% to 202.9 billion rubles from 122.9 billion rubles, gross profit increased 2.2 times to 47.18 billion rubles from 21.5 billion rubles, adjusted EBITDA increased 3.2 times to 32.4 billion rubles.
