VK's loss for the first half of the year under IFRS amounted to 51.29 billion rubles

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AK&M 11 August 2022 10:20

VK's loss for the first half of 2022 under IFRS amounted to 51.29 billion rubles, against 7.4 billion rubles. loss a year earlier. This was announced by the company.

Adjusted net loss amounted to RUB 10.8 billion against RUB 3.23 billion of adjusted net loss a year earlier. VK's total adjusted revenue increased by 6% to RUB 62.06 billion. Total revenue under IFRS increased by 10% to 63.4 billion rubles. The company's adjusted EBITDA decreased by 44% to RUB 7.17 billion.

VK is the largest Russian technology company. VK products and services are used by more than 90% of the Runet audience. VK projects allow you to communicate, play, learn new professions, listen to music, watch and shoot videos, sell and find goods and services, order food and solve many other tasks. 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.

The total net profit of VK Company Limited under IFRS for 2021 from consolidated subsidiaries increased by 24.7% to RUB 12.43 billion. compared to a year earlier. The total net loss of the company, taking into account key strategic associates and joint ventures, amounted to RUB 6.48 billion against RUB 1.96 billion. net loss in 2020. VK's total segment revenue increased by 18.2% to 125.75 billion rubles, while total segment EBITDA increased by 18.2% to 31.8 billion rubles.