Cian PLC Announces Fourth Quarter and Full Year 2022 Financial Results
Cian PLC (NYSE: CIAN) reported strong financial results for Q4 and the full year 2022, demonstrating resilience amid market challenges. Q4 revenue rose 35% YoY to RUB 2,394 million ($34.0 million), and profit for the period was RUB 489 million ($7.0 million). Adjusted EBITDA surged 405% YoY to RUB 586 million ($8.3 million), with an EBITDA margin of 24.5%. For the full year, revenue increased 37% YoY to RUB 8,266 million ($117.5 million), and profit was RUB 480 million ($6.8 million). However, average unique monthly visitors fell 13% YoY to 17.9 million. The company received a delisting notice from NYSE on March 15, 2023, but is appealing the decision.
- Q4 revenue up 35% YoY to RUB 2,394 million ($34.0 million)
- Adjusted EBITDA increased by 405% YoY to RUB 586 million ($8.3 million)
- Full year revenue increased 37% YoY to RUB 8,266 million ($117.5 million)
- Profit for Q4 was RUB 489 million ($7.0 million), compared to a loss in Q4 2021
- Core Business revenue for the year increased by 39% YoY to RUB 7,850 million ($111.6 million)
- Average unique monthly visitors decreased by 13% YoY to 17.9 million
- Mortgage Marketplace revenue fell 27% YoY in Q4 to RUB 76 million due to low mortgage demand
- Received a NYSE delisting notice on March 15, 2023
LARNACA,
Fourth Quarter 2022 Key Financial and Operational Highlights1
-
Revenue increased by
35% Y-o-Y toRUB 2,394 million ( ).$34.0 million -
Profit for the period amounted to
RUB 489 million ( ).$7.0 million -
Adjusted EBITDA2 increased by
405% Y-o-Y and reachedRUB 586 million ( ).$8.3 million -
Adjusted EBITDA Margin2 increased by 18 pp Y-o-Y to
24.5% . -
Core Business revenue increased by
43% Y-o-Y toRUB 2,296 million ( ).$32.6 million
Full Year 2022 Key Financial and Operational Highlights1
-
Revenue increased by
37% Y-o-Y toRUB 8,266 million ( ).$117.5 million -
Profit for the period amounted to
RUB 480 million ( ).$6.8 million -
Adjusted EBITDA2 increased by
425% Y-o-Y and reachedRUB 1,671 million ( ).$23.8 million -
Adjusted EBITDA Margin2 increased by 15 pp and amounted to
20.2% . -
Average UMV (Unique Monthly Visitors)3 decreased by
13% Y-o-Y to 17.9 million. -
Core Business revenue increased by
39% Y-o-Y toRUB 7,850 million ( ).$111.6 million -
Core Business Adjusted EBITDA4 increased by
94% Y-o-Y toRUB 2,369 million ( ).$33.7 million -
Core Business Adjusted EBITDA Margin5 improved by 8 pp Y-o-Y and reached
30.2% .
NYSE delisting notification
On
Neither the notice of delisting nor the appeal has any effect upon the suspension of the ADSs from trading on the NYSE which has been in effect since
Fourth Quarter and Full Year 2022 Results
Factors affecting year-over-year trends and comparisons
We believe that trends in the real estate market in 2022 were particularly characterized by the following events: (i) the key interest rate increase to
Fourth Quarter 2022 Results
Revenue
Revenue for the three months ended
The following table outlines a breakdown of revenue by segment and type for the periods indicated (in millions of RUB and USD):
|
Three months ended (unaudited) |
|||
|
|
|
|
Y-o-Y
|
|
RUB |
RUB |
USD (1) |
|
Total Revenue |
1,772 |
2,394 |
34.0 |
|
Core Business |
1,608 |
2,296 |
32.6 |
|
|
104 |
76 |
1.1 |
( |
Valuation and Analytics |
17 |
15 |
0.2 |
( |
C2C Rental |
1 |
- |
- |
( |
End-to-End Offerings |
42 |
7 |
0.1 |
( |
____________________
1
Core Business segment revenue
Core Business revenue reached
Operating expenses
Total operating expenses decreased 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
|
|
RUB |
RUB |
USD (1) |
|
Operating expenses |
2,660 |
2,037 |
29.0 |
( |
Marketing expenses |
531 |
630 |
9.0 |
|
Employee-related expenses |
1,514 |
1,058 |
15.0 |
( |
IT expenses |
154 |
139 |
2.0 |
( |
Depreciation and amortization |
73 |
65 |
0.9 |
( |
Other operating expenses |
388 |
145 |
2.1 |
( |
____________________
1
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 18 pp to
Full Year 2022 Results
Audience
Average UMV (Unique Monthly Visitors) for the year ended
Revenue
Revenue for the year 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):
|
Year ended |
|||
|
|
|
|
Y-o-Y
|
|
RUB |
RUB |
USD (1) |
|
Total Revenue |
6,033 |
8,266 |
117.5 |
|
Core Business, including |
5,641 |
7,850 |
111.6 |
|
Listing revenue |
3,699 |
4,805 |
68.3 |
|
Lead generation revenue |
1,329 |
2,356 |
33.5 |
|
Display advertising revenue |
596 |
646 |
9.2 |
|
|
295 |
229 |
3.3 |
( |
Valuation and Analytics |
45 |
54 |
0.8 |
|
C2C Rental |
3 |
- |
- |
( |
End-to-End Offerings |
49 |
133 |
1.9 |
|
___________________
1
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 average daily revenue per listing for the periods indicated1:
|
|
Year ended |
|
||||
|
|
|
|
Y-o-Y
|
|||
Listing revenue, including (RUB, million) |
|
3,699 |
4,805 |
|
|||
|
|
2,529 |
3,337 |
|
|||
Other Russian Regions |
|
1,170 |
1,468 |
|
|||
|
|
||||||
Listings(2), including (million) |
|
1.99 |
1.88 |
( |
|||
|
|
0.31 |
0.35 |
|
|||
Other Russian Regions |
|
1.69 |
1.52 |
( |
|||
|
|
||||||
Average daily revenue per listing(3) (RUB) |
|
5.1 |
7.0 |
|
|||
|
|
22.7 |
26.1 |
|
|||
Other Russian Regions |
|
1.9 |
2.6 |
|
|||
____________________
1 Numbers may not add up due to rounding
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 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
The growth of the Сore Business listing revenue was primarily driven by the re-launch of paid listing services after a temporary suspension due to the COVID-19 pandemic, expansion of monetization to new regions and listing services price increases.
In the year ended
Lead generation and display advertising revenue (primary real estate vertical)
Lead generation revenue increased by
Core Business lead generation revenue growth was mainly driven by the increase in the average revenue per lead to developers. Increase in the average revenue per lead to developers resulted from price increases in
Core Business display advertising revenue growth was driven by the redistribution of developers’ advertising budgets, an increase in tariffs in June in
Operating expenses
Total operating expenses decreased by
The following table sets forth a breakdown of our operating expenses for the periods indicated (in millions of RUB and USD):
|
Year ended |
||||
|
|
|
|
Y-o-Y
|
|
|
RUB |
RUB |
USD (1) |
|
|
Operating expenses |
8,847 |
7,521 |
106.9 |
( |
|
Marketing expenses |
2,253 |
2,360 |
33.6 |
|
|
Employee-related expenses, including |
5,062 |
3,759 |
53.4 |
( |
|
Wages, salaries and related taxes |
2,394 |
2,986 |
42.5 |
|
|
Share-based payment expense |
2,549 |
657 |
9.3 |
( |
|
IT expenses |
527 |
549 |
7.8 |
|
|
Depreciation and amortization |
279 |
269 |
3.8 |
( |
|
Other operating expenses |
726 |
584 |
8.3 |
( |
|
IPO related expenses |
304 |
- |
- |
- |
|
1
Employee-related expenses
Employee-related expenses decreased 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 slightly increased by
Other operating expenses
Other operating expenses decreased by
Profit for the period
Profit for the year ended
Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA for the year ended
Adjusted EBITDA Margin increased by 15 pp to
Core Business Adjusted EBITDA increased by
Core Business Adjusted EBITDA Margin improved by 8 pp reaching
Mortgage Marketplace Adjusted EBITDA was negative
Fourth Quarter and Full Year 2022 Financial Results Conference Call
Considering the existing uncertainty and market volatility, the Company will not be conducting its fourth quarter and full year 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)
|
Year ended |
|||||
|
|
|
|
|
||
|
RUB |
RUB |
USD(1) |
|||
|
(audited) |
(audited) |
(unaudited) |
|||
Revenue |
|
6,033 |
8,266 |
117.5 |
||
|
|
|||||
Operating expenses: |
|
|||||
Marketing expenses |
|
(2,253) |
(2,360) |
(33.6) |
||
Employee-related expenses |
|
(5,062) |
(3,759) |
(53.4) |
||
IT expenses |
|
(527) |
(549) |
(7.8) |
||
Depreciation and amortization |
|
(279) |
(269) |
(3.8) |
||
Other operating expenses |
|
(726) |
(584) |
(8.3) |
||
Total operating expenses |
|
(8,847) |
(7,521) |
(106.9) |
||
|
|
|||||
Operating profit / (loss) |
|
(2,814) |
745 |
10.6 |
||
Finance costs |
|
(61) |
(23) |
(0.3) |
||
Finance income |
|
19 |
108 |
1.5 |
||
Foreign currency exchange gain / (loss), net |
|
53 |
(108) |
(1.5) |
||
Other income |
|
6 |
45 |
0.6 |
||
Profit / (loss) before income tax |
|
(2,797) |
767 |
10.9 |
||
Income tax (expense) |
|
(60) |
(287) |
(4.1) |
||
Profit / (loss) for the year |
|
(2,857) |
480 |
6.8 |
||
Total comprehensive income / (loss) for the year |
|
(2,857) |
480 |
6.8 |
||
|
|
|||||
Profit / (loss) per share, in RUB |
|
|||||
Basic profit / (loss) per share attributable to ordinary equity holders of the parent |
(43.89) |
6.86 |
0.10 |
|||
Diluted profit / (loss) per share attributable to ordinary equity holders of the parent |
|
(43.89) |
|
6.72 |
|
0.10 |
1
Consolidated Statement of Financial Position (in millions of RUB and USD)
|
|
As of |
||||
|
|
|
|
|
|
|
RUB |
RUB |
USD(1) |
||||
|
|
(audited) |
|
(audited) |
|
(unaudited) |
Assets |
|
|
|
|
|
|
Non-current assets |
|
|||||
Property and equipment |
|
49 |
68 |
1.0 |
||
Right-of-use assets |
|
98 |
74 |
1.1 |
||
|
|
785 |
785 |
11.2 |
||
Intangible assets |
|
1,197 |
1,077 |
15.3 |
||
Deferred tax assets |
|
226 |
137 |
1.9 |
||
Other non-current assets |
|
15 |
8 |
0.1 |
||
Total non-current assets |
|
2,370 |
2,149 |
30.6 |
||
|
|
|||||
Current assets |
|
|||||
Inventories |
|
108 |
30 |
0.4 |
||
Advances paid and prepaid expenses |
|
93 |
99 |
1.4 |
||
Trade and other receivables |
|
408 |
414 |
5.9 |
||
Prepaid income tax |
|
4 |
3 |
0.0 |
||
Cash and cash equivalents |
|
2,419 |
4,110 |
58.4 |
||
Other current assets |
|
198 |
169 |
2.4 |
||
Total current assets |
|
3,230 |
4,825 |
68.5 |
||
Total assets |
|
5,600 |
6,974 |
99.1 |
||
|
|
|||||
Equity and liabilities |
|
|||||
Equity |
|
|||||
Share capital |
|
2 |
2 |
0.0 |
||
Share premium |
|
7,614 |
7,702 |
109.5 |
||
Equity-settled employee benefits reserves |
|
110 |
648 |
9.2 |
||
Accumulated losses |
|
(3,854) |
(3,343) |
(47.5) |
||
Total equity |
|
3,872 |
5,009 |
71.2 |
||
|
|
|||||
Liabilities |
|
|||||
Non-current liabilities |
|
|||||
Lease liabilities |
|
48 |
28 |
0.4 |
||
Deferred tax liabilities |
|
135 |
127 |
1.8 |
||
Deferred income |
|
125 |
108 |
1.5 |
||
Total non-current liabilities |
|
308 |
263 |
3.7 |
||
|
|
|||||
Current liabilities |
|
|||||
Contract liabilities |
|
425 |
554 |
7.9 |
||
Trade and other payables |
|
619 |
642 |
9.1 |
||
Income tax payable |
|
59 |
66 |
0.9 |
||
Other taxes payable |
|
241 |
366 |
5.2 |
||
Lease liabilities |
|
43 |
41 |
0.6 |
||
Deferred income |
|
33 |
33 |
0.5 |
||
Total current liabilities |
|
1,420 |
1,702 |
24.2 |
||
Total liabilities |
|
1,728 |
1,965 |
27.9 |
||
Total liabilities and equity |
|
5,600 |
6,974 |
99.1 |
1
Consolidated Statement of Cash Flows (in millions of RUB and USD)
|
Year ended (unaudited) |
||||
|
|
|
|
||
|
RUB |
RUB |
USD(1) |
||
|
(audited) |
|
(audited) |
|
(unaudited) |
Cash flows from operating activities |
|
|
|
|
|
Profit / (loss) before income tax |
(2,797) |
767 |
10.9 |
||
Adjusted for: |
|||||
Depreciation and amortization |
279 |
269 |
3.8 |
||
Employee share-based payment expense |
2,549 |
657 |
9.3 |
||
Finance income |
(19) |
(108) |
(1.5) |
||
Finance costs |
61 |
23 |
0.3 |
||
Foreign currency exchange (gain) / loss, net |
(53) |
108 |
1.5 |
||
(Reversal) / allowance for expected credit losses |
16 |
(14) |
(0.2) |
||
Working capital changes: |
|||||
Increase in trade and other receivables |
(238) |
(1) |
(0.0) |
||
(Increase) / decrease in advances paid and prepaid expenses |
(9) |
2 |
0.0 |
||
(Increase) / decrease in other assets |
(232) |
122 |
1.8 |
||
Increase / (decrease) in trade and other payables |
235 |
(18) |
(0.2) |
||
Increase in contract liabilities and deferred income |
230 |
87 |
1.2 |
||
Increase / (decrease) in other liabilities |
(2,017) |
127 |
1.8 |
||
Cash generated from / (used in) operating activities |
(1,995) |
2,021 |
28.7 |
||
Income tax paid |
(26) |
(199) |
(2.8) |
||
Interest received |
16 |
106 |
1.5 |
||
Interest paid |
(59) |
(6) |
(0.1) |
||
Net cash generated from / (used in) operating activities |
(2,064) |
1,922 |
27.3 |
||
|
|||||
Cash flows from investing activities |
|||||
Acquisition of a subsidiary, net of cash acquired |
(1,651) |
— |
— |
||
Purchase of property and equipment |
(52) |
(51) |
(0.7) |
||
Purchase of intangible assets |
(89) |
|
(69) |
|
(1.0) |
Loan issued to a related party |
(25) |
|
— |
|
— |
Loans issued to employees |
— |
|
(16) |
|
(0.2) |
Net cash used in investing activities |
(1,817) |
(136) |
(1.9) |
||
|
|||||
Cash flows from financing activities |
|||||
Proceeds from the issue of ordinary shares |
6,520 |
— |
— |
||
Repayment of borrowings |
(728) |
— |
— |
||
Payment of principal portion of lease liabilities |
(38) |
(42) |
(0.6) |
||
Net cash (used in) / generated from financing activities |
5,754 |
(42) |
(0.6) |
||
|
|||||
Net increase in cash and cash equivalents |
1,873 |
1,744 |
24.8 |
||
Cash and cash equivalents at the beginning of the period |
449 |
2,419 |
34.3 |
||
Effect of exchange rate changes on cash and cash equivalents |
111 |
(65) |
(0.9) |
||
Effect of a reversal / (allowance) for expected credit losses |
(14) |
12 |
0.2 |
||
Cash and cash equivalents at the end of the period |
2,419 |
4,110 |
58.4 |
1
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 foreign currency exchange loss (gain), which reduces (increases) 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 |
(888) |
489 |
7.0 |
||
Income tax expense |
79 |
159 |
2.3 |
||
Profit / (loss) before income tax |
(809) |
648 |
9.3 |
||
Depreciation and amortization |
73 |
65 |
0.9 |
||
Finance (income) / expenses, net(2) |
8 |
(36) |
(0.5) |
||
Foreign currency exchange gain, net |
(81) |
(243) |
(3.5) |
||
Share-based payment expenses |
764 |
164 |
2.3 |
||
IPO-related costs |
167 |
|
- |
|
- |
Income from the depositary |
(6) |
(12) |
(0.2) |
||
Adjusted EBITDA(3) |
116 |
586 |
8.3 |
||
Adjusted EBITDA Margin(4) |
|
|
|
|
Year ended |
||||
|
|
|
|
||
|
RUB |
RUB |
USD(1) |
||
Profit / (loss) for the period |
(2,857) |
480 |
6.8 |
||
Income tax expense |
60 |
287 |
4.1 |
||
Profit / (loss) before income tax |
(2,797) |
767 |
10.9 |
||
Depreciation and amortization |
279 |
269 |
3.8 |
||
Finance (income) / expenses, net(2) |
42 |
(85) |
(1.2) |
||
Foreign currency exchange (gain) / loss, net |
(53) |
108 |
1.5 |
||
Share-based payment expenses |
2,549 |
657 |
9.3 |
||
IPO-related costs |
304 |
|
- |
|
- |
Income from the depositary |
(6) |
(45) |
(0.6) |
||
Adjusted EBITDA(3) |
318 |
1,671 |
23.8 |
||
Adjusted EBITDA Margin(4) |
|
|
|
1
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, IPO-related costs 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)
|
Year ended |
||||
|
|
|
|
||
|
RUB |
RUB |
USD(1) |
||
Adjusted EBITDA(2) |
318 |
1,671 |
23.8 |
||
Core Business Adjusted EBITDA |
1,223 |
|
2,369 |
|
33.7 |
Core Business Adjusted EBITDA for |
2,397 |
|
3,623 |
|
51.5 |
Core Business Adjusted EBITDA for Other regions(4) |
(1,174) |
|
(1,254) |
|
(17.8) |
Mortgage Marketplace Adjusted EBITDA |
(475) |
|
(155) |
|
(2.2) |
Valuation and Analytics Adjusted EBITDA |
(69) |
|
(59) |
|
(0.8) |
C2C Rental Adjusted EBITDA |
(143) |
|
(5) |
|
(0.1) |
End-to-End Offerings Adjusted EBITDA |
(218) |
|
(479) |
|
(6.8) |
Core Business EBITDA margin |
|
|
|
|
|
1
2 Starting in the year 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
|
|
Listings (2)
|
|
Listings
|
|
Listings
|
|
Leads to
|
2019 |
13.4 |
|
1.92 |
|
0.37 |
|
1.55 |
|
179.6 |
2020 |
16.5 |
|
2.14 |
|
0.37 |
|
1.77 |
|
244.8 |
2021 |
20.5 |
|
1.99 |
|
0.31 |
|
1.69 |
|
229.2 |
2022 |
17.9 |
|
1.88 |
|
0.35 |
|
1.52 |
|
223.7 |
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
------------
1
2 Adjusted EBITDA and 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, excluding bots, 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 2021 and 2022, Average UMV is calculated as a sum of Average UMV for the Cian, excluding the
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 of which Adjusted EBITDA, a non-IFRS financial measure, is comprised. 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/20230330005434/en/
Investor contacts:
ir@cian.ru
Media contacts:
Olga Podoliaka
po@cian.ru
Source:
FAQ
What were Cian PLC's Q4 2022 financial results?
How did Cian perform in full year 2022?
What caused the decrease in unique monthly visitors for Cian?