Yandex’s Net Profit In 2020 Increased By 116%

Yandex’s consolidated revenue in 2020 increased by 24% compared to 2019, to RUB 218.3 billion. At the same time, net profit amounted to 24.1 billion rubles and increased by 116%.

Net profit margin – 11.1%. Adjusted net income amounted to RUB 21.0 billion and decreased by 11% compared to 2019.

The ratio (profitability) of the adjusted net income margin is 9.6%. Adjusted EBITDA amounted to RUB 49.8 billion and decreased by 2% compared to 2019.

The ratio (profitability) of the adjusted EBITDA to revenue (adjusted EBITDA margin) was 22.8%.

Yandex, as before, receives most of its revenue from advertising, last year advertising revenue grew by 4% and amounted to 126.4 billion rubles.

Yandex.Taxi’s revenue in 2020 increased by 49% to 68 billion rubles and amounted to 31% of the company’s total revenue.

Media services revenue increased by 102%. This growth is mainly due to the growth in revenue from sales of a single subscription to Yandex services.

The company predicts that if the situation with the coronavirus improves, the situation will gradually improve starting from the second quarter of this year, the total revenue of the Yandex group of companies is expected to reach 305-320 billion rubles for the full year of 2021.

Yandex associates this growth (by 47%) primarily with the growth of revenue in the e-commerce segment (Yandex.Market, Yandex.Lavka and the delivery of FMCG goods from partner stores in Yandex.Eda), with the growth of the company’s logistics business, as well as restoration of indicators in the Search and Portal and Taxi segments.

Source: Official press release distributed 16/02/21

Dan Taylor
Dan Taylor is an experienced SEO consultant and has worked with brands and companies on optimizing for Russia (and Yandex) for a number of years. Winner of the inaugural 2018 TechSEO Boost competition, webmaster at HreflangChecker.com and Sloth.Cloud, and founder of RussianSearchNews.com.