In January-March 2015 the search engine earned 12.3 billion rubles. – 13% more than in the same period last year. In early 2014, the company’s revenue grew faster, by 36%, to 10.9 billion rubles., In comparison with 2013 year. Operating profit for the quarter fell search engine by 45% to 1.5 billion rubles., Net profit – by 21% to 2.1 billion rubles., And adjusted net income – by 12% to 2.24 billion rubles. Adjusted EBITDA also decreased – by 12% to 3.6 billion rubles.
Due to the macroeconomic situation “Yandex” does not expect significant growth in the second quarter. According to the calculations of the company’s revenue will amount 13,2-13,7 billion rubles. (Against 12.2 billion rubles. In the second quarter of 2014).
Most of the revenue (93% in the first quarter), “Yandex” brought contextual advertising: its sales rose 14%, to 11.45 billion. Banner, sensitive, according to a report, to macroeconomic factors, sold worse, revenue from this segment fell by 16% to 606 million rubles. Its share in total income is less than 5%. The fastest growing segment of “other income” (the bulk of it takes “Yandeks.Taksi” earning on commission with partners): these revenues increased by 163% to 276 million rubles. But while their share in the total revenue of only 2,2%.
Taxi exports
Revenue “Yandeks.Taksi” in January-March 2015 tripled compared to the same period last year, said general director of “Yandex” Russia’s Alexander Shulgin on a conference call with analysts in the first quarter.
«Service” Yandeks.Taksi “in the first quarter showed good results. We have improved the quality, out into new regions, while maintaining the fastest for such services when feeding. As a result, revenue “Yandeks.Taksi” more than tripled compared to the first quarter of last year, “- said Shulgin. Absolute numbers he did not disclose.
«Yandeks.Taksi” monetized through commissions with taxis. The company does not disclose its exact amount. In December 2014 it was 9% of revenue, says RBC manager, has worked in a taxi, and a source close to the “Yandex».
Main competitors’ Yandeks.Taksi ” – service Israeli entrepreneur Shahira Weisser GetTaxi and American Uber – also live at the expense of the Commission. GetTaxi in December 2014 took taxis to the standard 15% VAT, or about 17.7% VAT. Drivers can achieve a smaller volume Commission: for example, 12% VAT for what they are pasted over all the cars the company logo. Uber in Russia takes a fixed 20% of drivers and transport companies, says RBC service representatives in December last year.
Mobile application to call cars online “Yandeks.Taksi” works with October 2011. His competitors GetTaxi and Uber appeared later in the Russian market: in 2012 and 2014 respectively. Initially, “Yandex” did not take a commission from taxis and expanded base of partners: the first year aggregator attracted 10 thousand. Drivers and cut the time for a taxi to a record 10 minutes. Today is the time for 5-7 minutes.
In 2012, he was paid. Also in 2012, the application has a version for desktop computers (desktops) taxi.yandex.ru. “Yandeks.Taksi” works on platforms iOS, Android and Windows Phone. Announcing the release of a new version of the application for Android April 1, 2015, the company said that every day through the “Yandeks.Taksi” performed more than 200 thousand. Orders, and the number of its units reached 2.8 million people.
to the employee does not save
On the team working on the product, the company spent in the first quarter, 27.1% of its revenue. In early 2015 “Yandex” has hired more than 60 new programmers. Due to this, the development team has grown by 12%, up to 3390 people (at the end of March compared to the same period last year). In addition, even at the end of 2014 the company’s representatives stated that some developers were increased salaries. As a result, the cost of product teams rose in the first quarter by 67% to 3.34 billion rubles. Qoq team search engine as a whole grew by 9% to 5,603 people.
At the same time, at the insistence of the Board of Directors of the company began work on the optimization of the state. According to RBC earlier, “Yandex” frozen individual job and fired some employees, mostly not working with the code. Overall budgeted for this year amount of wages the company was going to cut 10% – according to the calculations of RBC, in this case, personnel costs have totaled only about 11.2 billion rubles. But it still costs more than last year (in 2014 personnel costs amounted to about 10 billion rubles., Opened “Yandex»).
The decline in the profitability of the company explains the increase in expenses, which increased by 47% to 10.85 billion rubles., compared to the first quarter last year. “The increase in costs caused by many factors, including an increase in salaries and developers to increase the cost of renting premises. Recall that in May 2014, we began to pay rent additional 18 sq. M. m Moscow office rentals denominated in dollars “, – explained the press service.
The cost of renting” Yandex “can not stand alone, but said that the growth of” other costs “to 30%, to 996 million rubles. is related primarily to personnel expenses and rent new office.
However, the search engine net profit was higher than predicted by analysts polled by Interfax. The consensus forecast of the agency provided that the profit of the company was 1.77 billion rubles., EBITDA – 3,29 billion rubles.
At 14:10 MSK capitalization “Yandex” on the Nasdaq fell by 1.94% to $ 6.4 billion.
Mobile money
«Yandex” losing share in the search due to competition with Google on mobile devices on Android. Nevertheless, in January-March 2015 Russian search engine was able to capitalize on mobile traffic 20% of advertising revenue, or 2.4 billion rubles.
«significantly reduced the gap between the mobile traffic and monetization of mobile search. Seriously grow growth rate of mobile revenue. In the first quarter of 2015 the share of mobile search from the search as a whole was 24.5%, while revenue from mobile advertising rose to 20%, “- said on the conference call CEO” Yandex “Arkady Volozh.
For comparison: in the first quarter of 2014 mobile data traffic in “Yandex” amounted to 18% of the search in general, mobile revenue – 13%.
The growth of mobile revenue director general of the Russian “Yandex” Alexander Shulgin on call with analysts explained the great interest on the part of advertisers and new instruments proposed in the beginning of the year. According to him, in the service for placing contextual advertising “Yandex” an opportunity to ask coefficient bid on keywords for ads on mobile devices. “Now, advertisers can make separate bids for clicks to mobile devices and to vary the coefficients of these rates from -50% to + 300% of your bet on the desktop using the same phrase,” – he said. Besides Shulgin drew attention to the updates in analytics tool “Moscow”, due to which, he says, advertisers are able to increase click through your ads on mobile devices.
“At the same time, we experimented with a number of ads in the search results on mobile devices,” – added Shulgin.
According LiveInternet, given the record companies, search engine share of “Yandex” in the first quarter amounted to 58,6%, Google – 33,1%. For comparison, in the same period in 2014 “Yandex” owned 59.7% of searches, Google – 31,6%.
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