“Yandex” at the end of the second quarter reported a fall in revenue from Internet advertising by 15% earlier Mail.ru Group reported a decrease in the same indicator of 5.2%. Against this background, continued to grow the contribution of non-advertising revenues of Internet companies: segment “Taxi” from “Yandex” and games Mail.ru Group. Analysts keep positive view on both companies, noting that their vertical will benefit from the pandemic crisis.Consolidated revenues of “Yandex” in the second quarter remained unchanged year-on-year and amounted to 41.4 billion rubles, follows from materials of the company (reports according to GAAP standards). Adjusted net profit decreased by 67% to RUB 1.9 billion, and adjusted EBITDA by 35% to RUR 8.5 billion Just for the segment of “Taxi” (taxi aggregator, delivery of products) accounted for 30% of the revenue of “Yandex” for the quarter. The segment grew by 42% year-on-year to 12.5 billion rubles, and its adjusted EBITDA fell by 40%, to 253 million rubles In this case, “Yandex” was first recorded revenues of sub-segment “Unmanned vehicles”, the proceeds of which amounted to 55 million rubles In the second quarter of Yandex and Sberbank completed the restructuring of its joint venture companies “Yandex.Market” moved back “to Yandex” and “Yandex.Money” fully consolidated savings Bank. In addition, “Yandex” has raised $1.06 billion in the framework of public and private placement, resulting in the minority shareholders of the company became “VTB Capital”, Ervington Investments Limited Roman Abramovich and Treliscope Limited Alexander Abramov and Alexander Frolov.According to CFO Greg Arlovskogo, in “Yandex” pleased with the results of the quarter. “Despite the fact that it is difficult to predict the pace of further recovery in July are encouraging trends. In addition, the newly raised funds to give us sufficient financial flexibility to continue to invest in existing strategic projects and to develop new and interesting direction,” he said.Last week, July 23, about the end of the quarter reported Mail.ru Group. Total revenue under IFRS grew by 25.5% and amounted to 25.4 billion rubles Aggregate segment EBITDA increased by 3.9% compared to the same period last year and amounted to 7.5 billion rubles., total net profit increased by 8.2% to 3.5 billion rubles. Advertising revenue decreased by 5.2%, to 7.98 billion rubles, a Significant increase was shown by the segment of MMO games, the revenue of which increased by 47.7% and amounted to RUB 10.1 billion. Analysts of the company “Aton” retain a positive view on the Russian Internet and media sector was discussed in the report of investment company from 22 July. Online advertising may be the only segment of the advertising market, which in 2020 will show growth, albeit more modest: it will grow by 3.7% for the year against 20.2% ��Odom earlier, analysts say. Segment of the taxi to recover in the third and fourth quarters, and “in the gaming industry have affected the growth of interest in the games in isolation,” the report says. “Mobile services, service delivery, social services, Internet, online media and games — the main beneficiaries of the crisis, a major outcome of which will accelerate the growth of key verticals in the long term,”— noted there. In “Aton” confirmed the rating “above the market” in respect of both companies.Dmitry Shestoperov
