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Mail.Ru Group Posts Q3 2014 Highlights
November 17, 2014 17:47

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Mail.Ru Group Limited (LSE: MAIL), a major Internet company in the high-growth Russian-speaking Internet markets, published an update on the preliminary unaudited segment revenues for Q3 2014.
Q3 2014 Performance Highlights
- Q3 2014 Group aggregate segment revenue grew 12.9% Y-o-Y to RUR 7,448 million (9 month 2014 Group aggregate segment revenue grew 18.6% Y-o-Y)
- Net debt position as of 30 September 2014 was RUR 19,053 million
- Monthly audience of Mail.Ru portal in September 2014 reached 57.8 million Russian users (TNS, all Russia, age 12-64, desktop)
Key Recent Developments
Products and user offering
-  myMail for iOS now supports Microsoft Exchange ActiveSync
- New mobile strategy game Iron Desert launched on iOS and Android (under the brand)
- Mobile version of our popular MMO game Legend: Legacy of Dragons released on iOS and Android
- New ICQ for iOS featuring interface themes, new contact list, enhanced customization options, ability to send multiple photos and videos at once and edit chat history
- New ICQ for Android updated with friend recommendations, lots of customization capabilities (notifications for events, autoupload of files of different types, etc.), ability to send multiple photos and share ICQ profile on social networks
- Mail.Ru email service made SSL-encrypted connection mandatory for all email clients accessing Mail.Ru servers via POP3 and SMTP protocols
- Online document editor available in Mail.Ru email service and Cloud.Mail.Ru now allows editing spreadsheets (.xls/.xlsx) and presentations (.ppt/.pptx) (currently in beta)
 “In Q3 2014, the Company achieved Y-o-Y revenue growth of 12.9% to RUR 7,448 million with 9 month 2014 Y-o-Y revenue growth of 18.6%. As in H1 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 saw similar declines to Q2. Our other revenue stream remains sensitive to the underlying economic environment and hence grew at 4.4% in Q3,” said Dmitry Grishin, Co-Founder and CEO of Mail.Ru Group.

“In Q3 we continued to execute on our MMO games strategy which proved successful over the last years. Warface remains our largest revenue generating game. In late Q3 the previously discussed issue with Archeage was largely rectified, and the initial signs are that monetization is improving. We have also released a number of other titles, most notably the mobile strategy game Iron Desert where initial user feedback has been positive. The pipeline remains strong over the next 9 months with World of Speed, Skyforge and Armored Warfare, amongst others, all scheduled for release. We will also continue to internationalize our most successful titles under the brand. As such we expect the MMO games revenues to continue to show solid growth through the year,” Grishin added. 

Author: Mikhail Vesely

Tags: Group     

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