Ozon breaks even for the first time

Ozon Company published financial results for the second quarter of 2022. They show that it has reached operating break-even for the first time. Against the background of the publication of financial statements, Ozon shares on the Moscow Exchange rose by more than 10%.

“In Q2, Ozon reached operating break-even, driven by economies of scale from the 2021 investment, on the other hand, by improving the efficiency of operational processes, which we have been hard at work since the beginning of this year. This is confirmed by the fact that we reduced operating costs to turnover by a third year-on-year,” said Igor Gerasimov, CFO of the company.

According to financial statements, in the second quarter, the growth in turnover from the sale of goods and services amounted to 92% year-on-year. Total revenue increased by 58% to RUB 58.5 billion. Growth was mainly driven by service revenue — service revenue from commissions and advertising. This indicator increased by 185% to 30.3 billion rubles, exceeding the indicators from the sale of goods for the first time. In total, for the first half of the year, Ozon’s revenue grew by 73% to 122 billion rubles. The loss amounted to 26.2 billion rubles, in the II quarter – 7.2 billion rubles.

In addition, the number of orders increased by 121%, active buyers – by 67% to 30.7 million people. It is specified that up to 10.8 purchases per client per year, orders began to be processed more often by 64% compared to the same period last year.

By 16:38 Moscow time, the value of the company’s shares rose by 13.11% to 1,588 rubles, reaching a maximum for the day. By 18:04 the cost of securities amounted to 1547 rubles. a piece, should from the data of the Moscow Exchange.

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