Mail.ru Group Revenue Up by 14.8% in 2014
This represents growth of 14.8% compared with the previous year
Mar 12, 2015
Mail.ru Group, the Russian company which owns social network VKontakte, saw its revenue grow to $58 million in 2014 according to its ‘Limited Preliminary Trading Statement’ for the year.
The company’s aggregate net profit in 2014 was $203 million, up by 11.4% in comparison with 2013. The figures take into account the company’s acquisition of the final 48.01% of VKontakte, which took place in the second half of last year.
VKontakte’s revenue was up by 12.9%, at $70 million, and its EBIDTA rose by 54.9% to $26 million.
Dmitry Grishin, Mail.ru Group CEO:
"Through the year our MMO games and community IVAS revenues remained broadly on budget, but advertising revenues and our Headhunter business continued to face challenging conditions as a result of the ongoing economic and geo-political environment. As in H1 this continued to have a negative effect on our advertising revenues, and in particular the display advertising revenues which during Q4 saw similar declines to the previous two quarters."
Mail.ru has also reported that it is still having difficulty finalising any deal to sell its HeadHunter recruitment service. In 2015, the company plans to focus particularly on developing its mobile and video advertising services.
The company’s aggregate net profit in 2014 was $203 million, up by 11.4% in comparison with 2013. The figures take into account the company’s acquisition of the final 48.01% of VKontakte, which took place in the second half of last year.
VKontakte’s revenue was up by 12.9%, at $70 million, and its EBIDTA rose by 54.9% to $26 million.
Dmitry Grishin, Mail.ru Group CEO:
"Through the year our MMO games and community IVAS revenues remained broadly on budget, but advertising revenues and our Headhunter business continued to face challenging conditions as a result of the ongoing economic and geo-political environment. As in H1 this continued to have a negative effect on our advertising revenues, and in particular the display advertising revenues which during Q4 saw similar declines to the previous two quarters."
Mail.ru has also reported that it is still having difficulty finalising any deal to sell its HeadHunter recruitment service. In 2015, the company plans to focus particularly on developing its mobile and video advertising services.