Ozon received 22 billion rubles in the third quarter. loss and increased sales by 2.4 times

Revenue from the Ozon marketplace in the third quarter of 2023 grew by 77%, to RUB 108.96 billion. Over nine months, the figure increased by 62%, to 296.38 billion rubles. The loss for the third quarter increased by 6%, to 22.1 billion rubles, for nine months it decreased by 48%, to 24.49 billion.

Results for the third quarter are shown in the Ozon press release (.pdf). The increase in net loss in the third quarter was due to “a decrease in adjusted EBITDA and an increase in financial expenses associated with the revaluation of financial instruments and higher interest expenses.”

Sales turnover (GMV, including services) increased 2.4 times, to RUB 450.82 billion. The forecast for the dynamics of the indicator for the whole year has been improved to an increase of 90–100%. The number of active customers grew by approximately 30% year-on-year for the third consecutive quarter to reach 42.4 million. Order frequency per customer increased by 64% to an average of 19.2 orders per year.

Adjusted EBITDA in July-September was negative – RUB 3.91 billion. A year earlier it was positive – 1.61 billion rubles. Ozon explains this by “increasing strategic investments in customer acquisition and logistics infrastructure to accelerate GMV growth, including services, and strengthen its position in the Russian retail market.”

Why the first stage of November sales did not lead to an increase in demand in 2023 – in the Kommersant article “Sales without a rush.”

Leonid Uvarchev

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