Ozon's loss for the first quarter of 2024 amounted to 13.2 billion rubles. compared with a profit of 10.7 billion rubles in the first quarter of 2023. This dynamics is due to the recognition of one-time income related to the restructuring and repayment of convertible bonds in the first quarter of 2023 and an increase in financial expenses in the first quarter of 2024, the company said in a statement.
Revenue increased by 32% to RUB 122.9 billion, as a result of a 39% increase in revenue from the provision of services against the background of the growing monetization of advertising services, as well as an increase in the percentage revenue of Fintech.
Adjusted EBITDA increased by 16% to RUB 9.3 billion, due to an increase in gross profit and despite labor cost inflation and an increase in operating expenses caused by investments in sales, marketing and technology.
Ozon is a multicategory e–commerce platform operating in Russia, Belarus, Kazakhstan, Kyrgyzstan, Armenia, Uzbekistan, China and Turkey. Ozon's sales turnover (GMV) for 2023 increased by 110% compared to a year earlier and exceeded 1.7 trillion rubles.
