VK's cumulative loss under IFRS for 2022 amounted to 2.9 billion rubles

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AK&M 16 March 2023 11:28

VK's total loss under IFRS for 2022 decreased by 12.4 billion rubles to 2.9 billion rubles from 15.3 billion rubles a year earlier. The decrease occurred, among other things, due to the restructuring and optimization of the Group's assets. This is stated in the company's message.

Revenue increased by 19% to 97.8 billion rubles. The main source of growth was revenue from online advertising, which increased by 29% compared to 2021. Adjusted EBITDA increased by 8.9% to RUB 20 billion.

VK is a Russian technology company. VK products and services are used by more than 90% of the Runet audience. The company is also developing a set of products and services for digitalization of business processes - from Internet promotion and predictive analytics to corporate social networks, cloud services and enterprise automation.