Media and internet group Naspers, which owns a 43% stake in Russia’s leading online portal Mail.ru, has reported financial results for H1 2009.
Naspers said that Mail.ru reached revenues of 1,028 million Russian rubles (US$ 31.1 million) in H1 2009. It is higher than the revenues of Rambler Media of 1,019 million rubles in H1 2009.
Mail.ru’s financial highlights:
- Revenues of 1,028 million rubles (US$ 31.1 million) in H1 2009, up 31% from 786 million rubles in H1 2008, including from:
- display advertising: 55%,
- contextual advertising: 22%,
- listing fees: 4%,
- Mobile Value-Added Services (MVAS): 8%,
- partnerships: 11%
- EBITA: 518 million rubles (US$15.6 million) in H1 2009, up 19% from 435 million rubles in H1 2008
- EBITA margin: 50%
Naspers said that Mail.ru made a contribution of ZAR 54 million (US$ 6.8 million) to its H1 FY10 core headline earnings, up from R 38 million (US$ 4.9 million) in H1 FY09. The margins were affected by hard currency costs and additional headcount to support expansion. Mail.ru continued revenue diversification.
Key operational statistics:
- # 1 site in Russia in reach and rank: 85 million total users, up 65% year-on-year,
- 11 billion page views per month in August 2009.