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    YNDX   NL0009805522

YANDEX N.V.

(YNDX)
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EQS-News : Yandex Announces Second Quarter 2021 -7-

07/28/2021 | 06:01am EDT

(in millions of Russian rubles and U.S. dollars, except share and per share data)

 
                                                                            Three months ended June 30, 
                                                                            2020           2021           2021 
                                                                            RUB            RUB            USD 
 
Revenues                                                                    41,407         81,402         1,124.8 
Operating costs and expenses: 
Cost of revenues(1)                                                         15,912         41,774         577.2 
Product development(1)                                                      8,970          11,234         155.2 
Sales, general and administrative(1)                                        12,357         27,476         379.7 
Depreciation and amortization                                               4,052          5,641          77.9 
    Total operating costs and expenses                                      41,291         86,125         1,190.0 
Income/(loss) from operations                                               116             (4,723)        (65.2) 
Interest income                                                             971            1,180          16.3 
Interest expense                                                             (678)          (861)          (11.9) 
Loss from equity method investments                                          (977)          (5)            (0.1) 
Other (loss)/income, net                                                     (1,210)        230            3.2 
    Net loss before income taxes                                             (1,778)        (4,179)        (57.7) 
Income tax expense                                                           1,966          485            6.7 
    Net loss                                                                 (3,744)        (4,664)        (64.4) 
Net loss attributable to noncontrolling interests                            347            785            10.8 
    Net loss attributable to Yandex N.V.                                     (3,397)        (3,879)        (53.6) 
Net loss per Class A and Class B share: 
Basic                                                                        (10.36)        (10.88)        (0.15) 
Diluted                                                                      (10.36)        (10.88)        (0.15) 
Weighted average number of Class A and Class B shares outstanding 
Basic                                                                       328,039,776    356,616,989    356,616,989 
Diluted                                                                     328,039,776    356,616,989    356,616,989 
 
(1)   These balances exclude depreciation and amortization expenses, which are presented separately, and include 
share-based compensation expenses of: 
 
Cost of revenues                                                            138            126            1.7 
Product development                                                         2,598          2,592          35.8 
Sales, general and administrative                                           1,473          2,144          29.7 

YANDEX N.V.

Unaudited Condensed Consolidated Statements of Operations

(in millions of Russian rubles and U.S. dollars, except share and per share data)

 
                                                                            Six months ended June 30, 
                                                                            2020           2021           2021 
                                                                            RUB            RUB            USD 
 
Revenues                                                                    88,410         154,538        2,135.3 
Operating costs and expenses: 
Cost of revenues(1)                                                         32,147         75,816         1,047.6 
Product development(1)                                                      16,898         22,243         307.3 
Sales, general and administrative(1)                                        25,998         50,571         698.8 
Depreciation and amortization                                               8,062          10,898         150.6 
    Total operating costs and expenses                                      83,105         159,528        2,204.3 
Income/(loss) from operations                                               5,305           (4,990)        (69.0) 
Interest income                                                             1,699          2,357           32.6 
Interest expense                                                             (903)          (1,654)        (22.9) 
Loss from equity method investments                                          (2,083)        (6)            (0.1) 
Other income, net                                                            3,322          689            9.6 
    Net income/(loss) before income taxes                                    7,340          (3,604)        (49.8) 
Income tax expense                                                           5,656          4,280          59.1 
    Net income/(loss)                                                        1,684          (7,884)        (108.9) 
Net loss attributable to noncontrolling interests                            713            1,028          14.2 
    Net income/(loss) attributable to Yandex N.V.                            2,397          (6,856)        (94.7) 
Net income/(loss) per Class A and Class B share: 
Basic                                                                       7.28            (19.26)        (0.27) 
Diluted                                                                     7.11            (19.26)        (0.27) 
Weighted average number of Class A and Class B shares outstanding 
Basic                                                                       329,069,513    356,017,710    356,017,710 
Diluted                                                                     335,854,248    356,017,710    356,017,710 
 
(1)   These balances exclude depreciation and amortization expenses, which are presented separately, and include 
share-based compensation expenses of: 
 
Cost of revenues                                                            214            250            3.5 
Product development                                                         4,280          6,034          83.4 
Sales, general and administrative                                           2,466          4,382          60.5 

YANDEX N.V.

Unaudited Condensed Consolidated Statements of Cash Flows

(in millions of Russian rubles and U.S. dollars)

 
                                                                                          Three months ended June 30, 
                                                                                          2020       2021       2021 
                                                                                          RUB        RUB        USD 
CASH FLOWS USED IN OPERATING ACTIVITIES: 
Net loss                                                                                   (3,744)    (4,664)    (64.4) 
Adjustments to reconcile net loss to net cash used in operating activities: 
     Depreciation of property and equipment                                                3,336      4,239      58.5 
     Amortization of intangible assets                                                     716        1,402      19.4 
     Amortization of content assets                                                        961        1,682      23.2 
     Operating lease right-of-use assets amortization and the lease liability accretion    1,504      2,631      36.4 
     Amortization of debt discount and issuance costs                                      493        519        7.2 
     Share-based compensation expense                                                      4,209      4,862      67.2 
     Deferred income tax expense/(benefit)                                                 1,140      (3,662)    (50.6) 
     Foreign exchange losses                                                               1,296      555        7.7 
     Loss from equity method investments                                                   977        5          0.1 
     Other                                                                                 39         231        3.2 
Changes in operating assets and liabilities excluding the effect of acquisitions: 
     Accounts receivable, net                                                              526        (910)      (12.6) 
     Prepaid expenses and other assets                                                     (2,550)    (8,236)    (113.9) 
     Inventory                                                                             (946)      (382)      (5.3) 
     Accounts payable and accrued liabilities                                              (6,791)    (1,034)    (14.3) 
     Deferred revenue                                                                      136        462        6.4 
     Content assets                                                                        (1,517)    (2,888)    (39.9) 
     Content liabilities                                                                   85         315        4.4 
          Net cash used in operating activities                                            (130)      (4,873)    (67.3) 
CASH FLOWS (USED IN)/FROM INVESTING ACTIVITIES: 
Purchases of property and equipment and intangible assets                                                        (189.1) 
                                                                                          (10,276)   (13,685) 
Proceeds from sale of property and equipment                                               29         11         0.2 

(MORE TO FOLLOW) Dow Jones Newswires

July 28, 2021 06:00 ET (10:00 GMT)

All news about YANDEX N.V.
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08/31UPDATE : Yandex to Restructure Uber Joint Venture in $1 Billion Deal
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08/31YANDEX N : to Restructure Uber Joint Venture in $1 Billion Deal
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Analyst Recommendations on YANDEX N.V.
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Financials
Sales 2021 338 B 4 629 M 4 629 M
Net income 2021 -4 750 M -65,1 M -65,1 M
Net cash 2021 149 B 2 044 M 2 044 M
P/E ratio 2021 -267x
Yield 2021 -
Capitalization 2 097 B 28 880 M 28 756 M
EV / Sales 2021 5,77x
EV / Sales 2022 4,20x
Nbr of Employees 11 864
Free-Float 87,2%
Chart YANDEX N.V.
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Yandex N.V. Technical Analysis Chart | YNDX | NL0009805522 | MarketScreener
Technical analysis trends YANDEX N.V.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Last Close Price 5 869,58 RUB
Average target price 6 148,94 RUB
Spread / Average Target 4,76%
EPS Revisions
Managers and Directors
Arkady Volozh Chief Executive Officer & Executive Director
Svetlana Demyashkevich Chief Financial Officer
John Wilson Boynton Non-Executive Chairman
Vadim Marchuk Chief Operating Officer
Charles Emmitt Ryan Independent Non-Executive Director
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