Classifieds site Avito grows revenue 32 % year on year in Q2 2017

By Sabine Brix 0 Comments NEWS, Uncategorised

Russia's largest classifieds marketplace Avito.ru, which features homes and cars for sale, has released its second quarter results for 2017, indicating its revenues have grown by 32 % compared to RUB2927 million in Q2 2016.

In 2015 South African media company Naspers bought Avito and it is now co- owned by Vostok New Ventures and considered Russia's largest online classifieds website.

Key performance indicators second quarter 2017

−       Revenues of RUB 3 865 mln (USD 65.4 mln), grew by 32% compared to RUB 2 927 mln in Q2 2016.

−       Adjusted EBITDA* margin of 64% or RUB 2 458 mln (USD 41.6 mln), compared to 60% or RUB 1 747 mln in Q2 2016.

−       Listers amounted to 12.0 Mln and grew by 7% compared to 11.2 Mln for the same period of the previous

In May 2014 Avito AB set up a subsidiary Domofond Holding AB (“Domofond”), together with Property24, a subsidiary of the Naspers group, to jointly develop and operate a property portal in Russia under the brand name Domofond. Domofond.ru is in a development state and does not generate any significant revenues. In March 2017 Avito AB became the sole shareholder of Domofond.

Since its launch, Domofond.ru has grown into the largest national real estate portal with a monthly audience of approximately four million people, according to LiveInternet. The portal’s app has been downloaded more than three million times.

All USD amounts have been translated with the USD/RUB rate 59.0855 as per June 30, 2017.

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