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This article was published on April 26, 2012

Mail.ru first quarter 2012 revenue spikes 45% year over year to $160.3 Million


Mail.ru first quarter 2012 revenue spikes 45% year over year to $160.3 Million

The mail giant, Mail.ru, and perhaps largest Internet company in Europe has just reported its full 2011 fiscal results, and its preliminary first quarter 2012 results.

From its report: revenue, on a year over year basis moved up in the first quarter of this year some 45% to over $160 million. The company is known for holding shares in Facebook, and Groupon. Recently, Yuri Milner stepped down as chairman of the company. On a Ruble basis, revenues showed a slightly higher growth rate, of 50%.

The company is holding to its previously stated financial guidance for the year: “As a result we reiterate our full year 2012 guidance of 35% y-o-y constant currency revenue growth and EBITDA margins of around 50%.” The company said that the year has ‘started well.’

Despite its name, the company is working on product diversification. It noted that its gaming efforts are improving: “We are also actively re-tuning our online games business and the strategy starts paying off as Y-o-Y growth in MMO games in Q1 2012 improved compared to Q4 2011.”

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Here are its most critical financial metrics that the company released today:

Q1 2012 Group aggregate segment revenue grew Y-o-Y 45.0% to $160.3m. On a ruble basis,
the Y-o-Y growth was 49.9%

  • Community IVAS was the key growth driver delivering 103.9% growth

Monthly audience(TNS Russia) of Mail.Ru portal in March 2012 reached 32.7m Russian users

  • Continued growth in social networking and instant messaging with Odnoklassniki (“OK”) reaching 25.3m monthly users (TNS Russia) and Mail.Ru Agent at 25.5m monthly users

Final audited segment results for FY 2011 slightly above the preliminary trading statement

  • Group aggregate segment revenue at $515.4m, Group aggregate segment EBITDA at $282.9m, Group aggregate segment net profit at $208.6m compared to $514.9m, $282.8m and $207.6m respectively reported on February 24, 2012

The company has an earnings call scheduled in just a few minutes time to formally explain the results.

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