Cian PLC Announces First Quarter 2022 Financial Results
Cian PLC (NYSE: CIAN) reported a 38% year-over-year revenue increase for Q1 2022, reaching RUB 1,726 million ($20.5 million). The company achieved a profit of RUB 44 million ($0.5 million) and positive adjusted EBITDA of RUB 56 million ($0.7 million), with a margin of 3.2%. Core Business revenue grew by 36% to RUB 1,622 million ($19.3 million), while average unique monthly visitors fell by 10% to 19.2 million. Despite geopolitical challenges and market volatility, Cian anticipates continued growth, leveraging its position as a market leader.
- Revenue rose 38% Y-o-Y to RUB 1,726 million ($20.5 million).
- Profit for the period was RUB 44 million ($0.5 million) compared to a loss in the previous year.
- Core Business Adjusted EBITDA surged 96% Y-o-Y to RUB 261 million ($3.1 million).
- Adjusted EBITDA reached RUB 56 million ($0.7 million) with a margin of 3.2%.
- Core Business revenue increased by 36% Y-o-Y.
- Average unique monthly visitors declined by 10% Y-o-Y to 19.2 million.
- Operating expenses grew by 19% to RUB 1,913 million, driven by marketing and employee-related costs.
LARNACA,
First Quarter 2022 Key Financial and Operational Highlights1
-
Revenue increased by
38% Y-o-Y toRUB 1,726 million ( ).$20.5 million -
Profit for the period amounted to
RUB 44 million ( ).$0.5 million -
Adjusted EBITDA2 turned positive and reached
RUB 56 million ( ).$0.7 million -
Adjusted EBITDA Margin2 amounted to
3.2% . -
Average UMV (Unique Monthly Visitors)3 decreased by
10% Y-o-Y to 19.2 million. -
Core Business revenue increased by
36% Y-o-Y toRUB 1,622 million ( ).$19.3 million -
Core Business Adjusted EBITDA4 increased by
96% Y-o-Y toRUB 261 million ( ).$3.1 million -
Core Business Adjusted EBITDA Margin2,5 improved by 5 ppt Y-o-Y and reached
16.1% .
First Quarter 2022 Results
Factors affecting year-over-year trends and comparisons
We believe that trends in the real estate market in the first quarter of 2022 were particularly characterized by the following events: (i) key interest rate hike to
Although the
Revenue
Revenue for the three months ended
The following table sets forth a breakdown of our revenue by segment and type for the periods indicated (in millions of RUB and USD):
|
Three months ended (unaudited) |
|||
|
|
|
|
Y-o-Y growth |
|
RUB |
RUB |
USD (1) |
|
Total Revenue |
1,248 |
1,726 |
20.5 |
|
Core Business, including |
1,191 |
1,622 |
19.3 |
|
Listing revenue |
754 |
998 |
11.9 |
|
Lead generation revenue |
300 |
473 |
5.6 |
|
Display advertising revenue |
134 |
146 |
1.7 |
|
|
45 |
69 |
0.8 |
|
Valuation and Analytics |
12 |
14 |
0.2 |
|
End-to-End Offerings |
- |
21 |
0.2 |
- |
____________________
1 Dollar translations throughout this release are included solely for the convenience of the reader and were calculated at the exchange rate quoted by the
Core Business segment revenue
Core Business revenue reached
Core Business revenue in
Listing revenue (secondary and commercial real estate verticals)
Listing revenue increased by
The following table presents the listing revenue, the number of listings and the average daily revenue per listing for the periods indicated:
|
|
Three months ended (unaudited) |
||||
|
|
|
|
|
|
Y-o-Y growth |
Listing revenue, including (RUB, million) |
|
754 |
998 |
|
||
|
|
542 |
688 |
|
||
Other Russian Regions |
|
212 |
310 |
|
||
|
|
|||||
Listings(1), including (million) |
|
2.04 |
1.70 |
( |
||
|
|
0.30 |
0.28 |
( |
||
Other Russian Regions |
|
1.74 |
1.42 |
( |
||
|
|
|||||
Average daily revenue per listing(2) (RUB) |
|
4.1 |
6.7 |
|
||
|
|
19.9 |
26.9 |
|
||
Other Russian Regions |
|
1.4 |
2.4 |
|
____________________
1 Listings means the daily average number of real estate listings posted on our platform by agents and individual sellers for a particular period
2 Average daily revenue per listing is calculated as listing revenue divided (i) by the total number of listings for the corresponding period and (ii) by the number of days during the period
We believe that the growth of the Сore Business listing revenue was primarily driven by the following factors:
-
re-launch of monetization of listing services following its temporary suspension from
April 2020 due to the COVID-19 pandemic, primarily including the continued re-launch of monetization in certain Russian regions with the total number of monetized regions (where base listing services in both secondary residential and commercial listing are monetized) reaching 42 regions (including our core markets ofMoscow , theMoscow region,Saint Petersburg and the Leningrad region) as ofMarch 31, 2022 as compared to 8 as ofMarch 31, 2021 ; - listings services price increases, which were implemented as a part of a regular review of listing rates.
In the three months ended
In the beginning of the second quarter 2022, we see that the number of listings on our platform as well as the exposition time of a listing is increasing, which significantly supports our secondary real estate vertical.
Lead generation and display advertising revenue (primary real estate vertical)
Lead generation revenue increased by
The growth of Core Business lead generation revenue was driven mainly by the increase in the average revenue per lead to developers. Increase in the average revenue per lead to developers resulted primarily from price increases, higher investments in value-added services in March as a result of increased developers market activity, and new tariff launch in
Mortgage marketplace segment revenue
Operating expenses
Total operating expenses increased by
The following table sets forth a breakdown of our operating expenses for the periods indicated (in millions of RUB and USD):
|
Three months ended (unaudited) |
|||
|
|
|
|
Y-o-Y growth |
|
RUB |
RUB |
USD (1) |
|
Operating expenses |
1,608 |
1,913 |
22.8 |
|
Marketing expenses |
605 |
691 |
8.2 |
|
Employee-related expenses, including |
799 |
884 |
10.5 |
|
Wages, salaries and related taxes |
557 |
689 |
8.2 |
|
Share-based payment expense |
228 |
175 |
2.1 |
- |
IT expenses |
96 |
136 |
1.6 |
|
Depreciation and amortization |
64 |
68 |
0.8 |
|
Other operating expenses |
44 |
134 |
1.6 |
|
1 Dollar translations throughout this release are included solely for the convenience of the reader and were calculated at the exchange rate quoted by the
Employee-related expenses
Employee-related expenses increased by
Wages, salaries and related taxes as a percentage of revenue decreased year-over-year from
Marketing expenses
Marketing expenses increased to
Marketing expenses as a percentage of revenue decreased to
IT expenses
IT expenses increased by
Other operating expenses
Other operating expenses increased by
Profit for the period
Profit for the three months ended
Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA for the three months ended
Adjusted EBITDA Margin increased by 8.7 ppt to
Core Business Adjusted EBITDA increased by
Core Business Adjusted EBITDA Margin improved by 4.9 ppt reaching
Mortgage Marketplace Adjusted EBITDA was negative
Recent Developments
Impact of the Latest Geopolitical Developments on the Company
On
On
Simultaneously, government continues to support affordability of real estate by among other measures expanding the maximum limits of subsidized mortgages to
Although neither the Company nor any of its subsidiaries is subject to any sanctions announced to-date, the impact of these and further developments on the future operations and financial position of the Group may be significant, but at this stage is difficult to determine. Current and future risks to the Group include, among others, the deterioration of the Russian economy, the risk of reduced or blocked access to capital markets and ability to obtain financing, and the risk of restrictions on the usage of certain software.
As of today, Cian’s management believes that the ability of the Group to conduct business has not been inhibited and we continue to operate our business in accordance with the circumstances that arise. The Company has a strong balance sheet, with a significant cash balance and no debt. All of these factors should allow us to maintain financial flexibility even in the case of a significant economic downturn. However, we cannot guarantee that the current geopolitical situation, conflict surrounding
On
We will continue to closely monitor all developments in the key markets where we operate and analyze recently introduced and potential additional sanctions in order to be able to react to the changing environment accordingly and to make every effort to ensure we minimize any negative impact on our business and secure the safety of our partners, users and employees, while continuing to support the uninterrupted operation of our services.
First Quarter 2022 Financial Results Conference Call
In light of the existing uncertainty and market volatility, the Company will not be conducting its first quarter 2022 conference call. Investors, analysts, and media are welcome to send their inquiries to the Company using the contact details provided in this release.
About Cian
Cian is a leading online real estate classifieds platform in the large, underpenetrated and growing Russian real estate classifieds market, with a strong presence across
Source:
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements, including, without limitation, statements regarding our financial outlook for 2021 and long-term growth strategy, as well as statements that include the words “target,” “believe,” “expect,” “aim,” “intend, intend,” may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are neither promises nor guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected, including, without limitation: the negative impact on the Russian economy of the ongoing military actions between
Any forward-looking statements contained in this press release speak only as of the date hereof and accordingly undue reliance should not be placed on such statements. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.
Consolidated Statement of Profit or Loss and Other Comprehensive Income (in millions of RUB and USD, except share and per share amounts)
|
Three months ended (unaudited) |
|||||
|
|
|
|
|
||
|
RUB |
|
RUB |
|
USD(1) |
|
|
|
|
|
|
|
|
Revenue |
|
1,248 |
1,726 |
20.5 |
||
|
|
|||||
Operating expenses: |
|
|||||
Marketing expenses |
|
(605) |
(691) |
(8.2) |
||
Employee-related expenses |
|
(799) |
(884) |
(10.5) |
||
IT expenses |
|
(96) |
(136) |
(1.6) |
||
Depreciation and amortization |
|
(64) |
(68) |
(0.8) |
||
Other operating expenses |
|
(44) |
(134) |
(1.6) |
||
Total operating expenses |
|
(1,608) |
(1,913) |
(23) |
||
|
|
|||||
Operating loss |
|
(360) |
(187) |
(2.2) |
||
Finance costs |
|
(16) |
(4) |
(0.0) |
||
Finance income |
|
3 |
12 |
0.1 |
||
Foreign currency exchange (loss)/gain, net |
|
(27) |
185 |
2.2 |
||
Other income |
|
- |
9 |
0.1 |
||
Profit/(loss) before income tax |
|
(400) |
15 |
0.2 |
||
Income tax benefit |
|
17 |
29 |
0.3 |
||
Profit/(loss) for the period |
|
(383) |
44 |
0.5 |
||
Total comprehensive income/(loss) for the period |
|
(383) |
44 |
0.5 |
||
|
|
|||||
Profit/(loss) per share, in RUB |
|
|||||
Basic profit / (loss) per share attributable to ordinary equity holders of the parent |
|
(6.13) |
0.63 |
0.01 |
||
Diluted profit / (loss) per share attributable to ordinary equity holders of the parent |
|
(6.13) |
0.62 |
0.01 |
||
Basic weighted average number of ordinary shares, in thousand |
|
62,464 |
|
69,872 |
|
69,872 |
Diluted weighted average number of ordinary shares, in thousand |
|
62,464 |
|
71,299 |
|
71,299 |
1 Dollar translations throughout this release are included solely for the convenience of the reader and were calculated at the exchange rate quoted by the
Consolidated Statement of Financial Position (in millions of RUB and USD)
|
|
As of |
||||
|
|
|
|
|
|
|
RUB |
|
RUB |
|
USD(1) |
||
|
|
(audited) |
|
(unaudited) |
|
(unaudited) |
Assets |
|
|
|
|
|
|
Non-current assets |
|
|
|
|
|
|
Property and equipment |
|
49 |
56 |
0.7 |
||
Right-of-use assets |
|
98 |
86 |
1.0 |
||
|
|
785 |
785 |
9.3 |
||
Intangible assets |
|
1,197 |
1,170 |
13.9 |
||
Deferred tax assets |
|
226 |
262 |
3.1 |
||
Other non-current assets |
|
15 |
15 |
0.2 |
||
Total non-current assets |
|
2,370 |
2,374 |
28.2 |
||
|
|
|||||
Current assets |
|
|||||
Inventories |
|
108 |
112 |
1.3 |
||
Advances paid and prepaid expenses |
|
93 |
147 |
1.7 |
||
Trade and other receivables |
|
408 |
354 |
4.2 |
||
Prepaid income tax |
|
4 |
2 |
0.0 |
||
Cash and cash equivalents |
|
2,419 |
2,578 |
30.7 |
||
Other current assets |
|
198 |
94 |
1.1 |
||
Total current assets |
|
3,230 |
3,287 |
39.1 |
||
Total assets |
|
5,600 |
5,661 |
67.3 |
||
|
|
|||||
Equity and liabilities |
|
|||||
Equity |
|
|||||
Share capital |
|
2 |
2 |
0.0 |
||
Share premium |
|
7,614 |
7,614 |
90.6 |
||
Equity-settled employee benefits reserves |
|
110 |
285 |
3.4 |
||
Accumulated losses |
|
(3,854) |
(3,810) |
(45.3) |
||
Total equity |
|
3,872 |
4,091 |
48.7 |
||
|
|
|||||
Liabilities |
|
|||||
Non-current liabilities |
|
|||||
Lease liabilities |
|
48 |
42 |
0.5 |
||
Deferred tax liabilities |
|
135 |
134 |
1.6 |
||
Deferred income |
|
125 |
127 |
1.5 |
||
Total non-current liabilities |
|
308 |
303 |
3.6 |
||
|
|
|||||
Current liabilities |
|
|||||
Contract liabilities |
|
425 |
387 |
4.6 |
||
Trade and other payables |
|
619 |
549 |
6.5 |
||
Income tax payable |
|
59 |
4 |
0.0 |
||
Other taxes payable |
|
241 |
256 |
3.0 |
||
Lease liabilities |
|
43 |
38 |
0.5 |
||
Deferred income |
|
33 |
33 |
0.4 |
||
Total current liabilities |
|
1,420 |
1,267 |
15.1 |
||
Total liabilities |
|
1,728 |
1,570 |
18.7 |
||
Total liabilities and equity |
|
5,600 |
5,661 |
67.3 |
1 Dollar translations throughout this release are included solely for the convenience of the reader and were calculated at the exchange rate quoted by the
Consolidated Statement of Cash Flows (in millions of RUB and USD)
|
Three months ended (unaudited) |
||||
|
|
|
|
|
|
|
RUB |
|
RUB |
|
USD(1) |
|
(audited) |
|
(audited) |
|
(unaudited) |
Cash flows from operating activities |
|
|
|
|
|
Loss before income tax |
(400) |
15 |
0.2 |
||
Adjusted for: |
|||||
Depreciation and amortization |
64 |
68 |
0.8 |
||
Employee share-based payment expense |
228 |
175 |
2.1 |
||
Finance income |
(3) |
(12) |
(0.1) |
||
Finance costs |
16 |
4 |
0.0 |
||
Foreign currency exchange (gain) / loss, net |
27 |
(185) |
(2.2) |
||
(Reversal) / Allowance for expected credit losses |
1 |
(7) |
(0.1) |
||
Working capital changes: |
|||||
Decrease / (increase) in trade and other receivables |
(40) |
57 |
0.7 |
||
Increase in advances paid and prepaid expenses |
(4) |
(54) |
(0.6) |
||
Decrease / (increase) in other assets |
(58) |
100 |
1.2 |
||
(Decrease) / increase in trade and other payables |
47 |
(124) |
(1.5) |
||
(Decrease) / increase in contract liabilities and deferred income |
6 |
(47) |
(0.6) |
||
Increase in other liabilities |
73 |
16 |
0.2 |
||
Cash generated from / (used in) operating activities |
(43) |
6 |
0.1 |
||
Income tax paid |
(18) |
(61) |
(0.7) |
||
Interest received |
3 |
12 |
0.1 |
||
Interest paid |
(16) |
(2) |
(0.0) |
||
Net cash used in operating activities |
(74) |
(45) |
(0.6) |
||
|
|||||
Cash flows from investing activities |
|||||
Acquisition of a subsidiary, net of cash acquired |
(1,651) |
- |
- |
||
Purchase of property and equipment |
(9) |
(15) |
(0.2) |
||
Purchase of intangible assets |
(20) |
(19) |
(0.2) |
||
Net cash used in investing activities |
(1,680) |
(34) |
(0.4) |
||
|
|||||
Cash flows from financing activities |
|||||
Proceeds from the issue of ordinary shares |
2,265 |
- |
- |
||
Repayment of borrowings |
(93) |
- |
- |
||
Payment of principal portion of lease liabilities |
(10) |
(11) |
(0.1) |
||
Net cash (used in) / generated from financing activities |
2,162 |
(11) |
(0.1) |
||
|
|||||
Net (decrease) / increase in cash and cash equivalents |
408 |
(90) |
(1.1) |
||
Cash and cash equivalents at the beginning of the period |
449 |
2,419 |
28.8 |
||
Effect of exchange rate changes on cash and cash equivalents |
(1) |
242 |
2.9 |
||
Reversal of allowance for expected credit losses |
- |
7 |
0.1 |
||
Cash and cash equivalents at the end of the period |
856 |
2,578 |
30.7 |
1 Dollar translations throughout this release are included solely for the convenience of the reader and were calculated at the exchange rate quoted by the
Non-IFRS Financial Measures and Supplemental Financial Information
Use of Non-IFRS Financial Measures
We use Adjusted EBITDA, Core Business Adjusted EBITDA for
Adjusted EBITDA, Core Business Adjusted EBITDA for
- they exclude depreciation and amortization expense and, although these are non-cash expenses, the assets being depreciated may have to be replaced in the future, increasing our cash requirements;
- they do not reflect interest expense, or the cash required to service our debt, which reduces cash available to us;
- they do not reflect income tax payments that reduce cash available to us;
- they do not reflect share-based compensation expenses and, therefore, do not include all of our employee-related expenses; and
- other companies, including companies in our industry, may calculate those measures differently, which reduces their usefulness as comparative measures.
The tables below provide detailed reconciliations of each non-IFRS financial measure we use from the most directly comparable IFRS financial measure.
Reconciliation of Adjusted EBITDA from Loss for the period, the most directly comparable IFRS financial measure (in millions of RUB and USD)
|
Three months ended (unaudited) |
||||
|
|
|
|
|
|
|
RUB |
|
RUB |
|
USD(1) |
Profit/ (loss) for the period |
(383) |
44 |
0.5 |
||
Income tax expense |
(17) |
(29) |
(0.3) |
||
Profit/ (loss) before income tax |
(400) |
15 |
0.2 |
||
Depreciation and amortization |
64 |
68 |
0.8 |
||
Finance expenses, net(2) |
13 |
(8) |
(0.1) |
||
Foreign currency exchange loss / (gain), net |
27 |
(185) |
(2.2) |
||
Share-based payment expenses |
228 |
175 |
2.1 |
||
Income from the depositary |
- |
(9) |
(0.1) |
||
Adjusted EBITDA(3) |
(68) |
56 |
0.7 |
||
Adjusted EBITDA Margin(4) |
- |
|
|
1 Dollar translations throughout this release are included solely for the convenience of the reader and were calculated at the exchange rate quoted by the
2 Comprises finance costs and finance income for the respective periods
3 Defined as profit / (loss) for the period adjusted to exclude income tax (benefit) / expense, finance costs, finance income, foreign currency exchange loss / (gain), net, depreciation and amortization, share-based payments under equity-based incentive program consisting of phantom share options and restricted share units and income from the depository
4 Defined as Adjusted EBITDA divided by revenue for the respective periods
Segment Data and Reconciliation to Adjusted EBITDA (in millions of RUB and USD)
|
Three months ended (unaudited) |
||||
|
|
|
|
|
|
|
RUB |
|
RUB |
|
USD(1) |
Adjusted EBITDA(2) |
(68) |
56 |
0.7 |
||
Core Business Adjusted EBITDA |
133 |
|
261 |
|
3.1 |
Core Business Adjusted EBITDA for |
474 |
|
694 |
|
8.3 |
Core Business Adjusted EBITDA for Other regions(4) |
(341) |
|
(433) |
|
(5.1) |
Mortgage Marketplace Adjusted EBITDA |
(123) |
|
(59) |
|
(0.7) |
Valuation and Analytics Adjusted EBITDA |
(17) |
|
(8) |
|
(0.1) |
C2C Rental Adjusted EBITDA |
(35) |
|
(5) |
|
(0.1) |
End-to-End Offerings Adjusted EBITDA |
(26) |
|
(133) |
|
(1.6) |
Core Business EBITDA margin |
|
|
|
|
|
1 Dollar translations throughout this release are included solely for the convenience of the reader and were calculated at the exchange rate quoted by the
2 Starting from the first quarter 2022 the Group changed its management reporting to be more convergent with IFRS. The following differences were eliminated: (1) Reclassification of lease related amortization and interest – for the purposes of CODM’s assessment of operating performance rental expenses were previously considered operating expenses included in Adjusted EBITDA, rather than depreciation and interest expense, thus, IFRS 16 ‘Leases’ was not applied for the purpose of management reporting; (2) Reclassification of operating expense related to software licenses to amortization – for the purposes of CODM’s assessment of operating performance expenses related to software licenses were considered operating expenses included in Adjusted EBITDA, rather than amortization of intangible assets. The corresponding information for the three months ended
3 For the purpose of calculating Core Business Adjusted EBITDA for
4 Defined as Core Business Adjusted EBITDA divided by Core Business revenue for the respective periods.
Other Historical Operational Data
|
Average UMV (1)
|
|
Listings (2)
|
|
Listings |
|
Listings Other regions |
|
Leads to developers (3)
|
|
12.7 |
|
1.98 |
|
0.38 |
|
1.60 |
|
48.0 |
|
12.6 |
|
1.98 |
|
0.39 |
|
1.59 |
|
41.5 |
|
14.0 |
|
1.92 |
|
0.37 |
|
1.55 |
|
45.8 |
|
14.1 |
|
1.78 |
|
0.35 |
|
1.43 |
|
44.3 |
|
15.5 |
|
1.74 |
|
0.32 |
|
1.42 |
|
54.0 |
|
14.9 |
|
2.30 |
|
0.46 |
|
1.83 |
|
49.9 |
|
18.0 |
|
2.38 |
|
0.37 |
|
2.01 |
|
75.1 |
|
17.6 |
|
2.14 |
|
0.32 |
|
1.82 |
|
65.8 |
|
21.2(4) |
|
2.04 |
|
0.30 |
|
1.74 |
|
60.2 |
|
19.9(4) |
|
2.25 |
|
0.32 |
|
1.93 |
|
53.2 |
|
20.5(4) |
|
1.90 |
|
0.31 |
|
1.59 |
|
57.3 |
|
20.3(4) |
|
1.78 |
|
0.29 |
|
1.49 |
|
58.6 |
|
19.2 |
|
1.70 |
|
0.28 |
|
1.42 |
|
62.2 |
1 Average Unique Monthly Visitors (UMV) means the average number of users and customers visiting our platform (websites and mobile application) per month in a particular period, excluding bots. Average UMV for a particular period is calculated by aggregating the UMV for each month within such period and dividing by the number of months. For 2020, 2019 and their respective interim periods, Average UMV is calculated based on
2 Listings means the daily average number of real estate listings posted on our platform by agents and individual sellers for a particular period
3 Leads to developers means the number of paid target calls, lasting 30 seconds or longer, made through our platform by home searchers to real estate developers, for a particular period
4 In the first quarter of 2022 we made a decision to change the methodology of average UMV calculation. As of
1 Dollar translations throughout this release are included solely for the convenience of the reader and were calculated at the exchange rate quoted by the
2 Adjusted EBITDA, Adjusted EBITDA Margin and Core Business Adjusted EBITDA Margin are non-IFRS measures. See “Non-IFRS Financial Measures and Supplemental Financial Information” elsewhere in this release for a description of these measures and their reconciliation from the most directly comparable IFRS financial measures.
3 Average Unique Monthly Visitors (UMV) means the average number of users and customers visiting our platform (websites and mobile application) per month in a particular period, excluding bots. Average UMV for a particular period is calculated by aggregating the UMV for each month within such period and dividing by the number of months. For 2020, 2019 and their respective interim periods, Average UMV is calculated based on
4 Core Business Adjusted EBITDA, Mortgage Marketplace Adjusted EBITDA, Valuation and Analytics Adjusted EBITDA, C2C Rental Adjusted EBITDA and End-to-End Offerings Adjusted EBITDA presented in this release are our segment measures of profit or loss and, therefore, are not considered non-IFRS financial measures. See “Non-IFRS Financial Measures and Supplemental Financial Information” elsewhere in this release for further information.
5 Defined as Core Business Adjusted EBITDA divided by Core Business revenue for the respective periods.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220602005510/en/
Investor contacts:
ir@cian.ru
Media contacts:
Olga Podoliaka
po@cian.ru
Source:
FAQ
What are Cian PLC's Q1 2022 revenue results?
Did Cian PLC make a profit in Q1 2022?
What was the adjusted EBITDA for Cian PLC in Q1 2022?
How did average unique monthly visitors change for Cian PLC?