Russian online retailer Ozon has reported a 55% increase in revenue to RUB 277.1 billion (€3.08 billion) but costs related to a major fire a fulfilment centre pushed it to a larger annual loss.
Ozon's gross merchandise value (GMV) - the total value of goods and services sold by the platform - jumped 86% to RUB 832.2 billion (€9.25 billion), the unaudited financial results showed.
The number of orders placed on the e-commerce platform more than doubled to 465 million during the year, the company said. Losses rose 2% to RUB 58.2 billion.
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Share De-Listing
Ozon is Russia's second-largest online retailer, behind privately-owned Wildberries. The company is currently appealing a decision by the U.S. NASDAQ exchange to de-list its shares, which have not traded on the American bourse since February 2022, days after Russia ordered tens of thousands of troops into Ukraine and the West hit Moscow with an unprecedented package of economic sanctions.
For the fourth quarter of 2022, Ozon's GMV was up 67% at RUB 296 billion (€3.29 billion) and losses shrank by 46% to RUB 11.2 billion (€120 million) compared to the same period of 2021, Ozon said.
Revenue was up 41% year-on-year during the three months to RUB 93.6 billion (€1.04 billion).
The company also said its adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) were positive in the fourth quarter at RUB 3.9 billion, compared to minus RUB 15.9 billion for the final three months of 2021.
News by Reuters, edited by by ESM – your source for the latest retail news. Click subscribe to sign up to ESM: European Supermarket Magazine.
