Ozon, a Russian online retailer, announced on Thursday that its revenue for 2022 had increased by 55 per cent to 277.1 billion roubles ($3.4 billion).
However, costs associated with a significant fire at one of its fulfilment centres resulted in a larger annual loss.
The unaudited financial results showed that the company’s gross merchandise value (GMV), which is the total value of goods and services sold by the platform, had risen by 86 per cent to 832.2 billion roubles ($10.30 billion).
The number of orders placed on the platform had more than doubled to 465 million during the year, according to the company.
Losses had increased by 2 per cent to 58.2 billion roubles. Ozon is Russia’s second-largest online retailer, behind privately-owned Wildberries. Currently, it is appealing a decision by the U.S.
NASDAQ exchange to de-list its shares, which have not traded on the American bourse since February 2022.
This came after Russia ordered tens of thousands of troops into Ukraine, and the West imposed an unprecedented package of economic sanctions on Moscow.
Ozon’s GMV for the fourth quarter of 2022 had increased by 67 per cent to 296 billion roubles, and losses had reduced by 46 per cent to 11.2 billion roubles compared to the same period of 2021, the company said.
Its revenue had risen by 41 per cent year-on-year during the three months to 93.6 billion roubles. Ozon also announced that its adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) for the fourth quarter were positive, at 3.9 billion roubles, compared to minus 15.9 billion roubles for the final three months of 2021.
