VK's loss under IFRS for 2024 amounted to 94.948 billion rubles against a loss of 34.291 billion rubles a year earlier. EBITDA is negative -4.92 billion rubles. This is stated in the company's report.
Revenue increased by 23% to RUB 147.6 billion. The main source of growth was revenue from online advertising, which increased by 20% to 96.1 billion rubles. Revenues from online advertising of medium and small businesses (SMBs) increased by 27%. Revenues from video advertising on VK platforms increased twofold and amounted to 3.9 billion rubles. VK Tech's revenue increased by 42% to RUB 13.6 billion. The revenue of educational services for children increased by 83% to 6.3 billion rubles.
As of December 31, 2024, the group accrued a provision for expected credit losses in respect of other receivables for the sale of subsidiaries in the amount of RUB 38.151 billion, trade receivables from sold companies in the amount of more than RUB 2 billion and loans issued to sold companies in the amount of RUB 3.322 billion, as a result of the revised maturities of these arrears.
VK is a Russian technology company. VK products and services are used by more than 95% of the Runet audience. The company is also developing a set of products and services for the digitalization of business processes, from online promotion and predictive analytics to corporate social networks, cloud services and enterprise automation.
VK's revenue for the first 9 months of 2024 increased by 21% to 109.6 billion rubles. compared to a year earlier. Revenue from online advertising increased by 19% to 65.9 billion rubles. Non-advertising revenue increased by 25% to 43.8 billion rubles.
