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    YNDX   NL0009805522

YANDEX N.V.

(YNDX)
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Exclusive: Russia's Yandex.Drive plans to offer platform for operating car fleets

06/09/2021 | 07:52am EDT
FILE PHOTO: The logo of Russian internet group Yandex is pictured at the company's headquarter in Moscow

ST PETERSBURG, Russia (Reuters) - Yandex.Drive, the car-sharing firm owned by Russian internet group Yandex, will launch a platform to customers that can be used to operate their own vehicle fleets, the company's head of e-commerce and ride-tech business said.

The new platform, which has been tested on a Yandex.Drive fleet of about 16,000 vehicles, would be offered to taxi companies, freight operators and logistics firms around the globe, Daniil Shuleiko told Reuters.

"I think that this will be a very significant share in the revenue of the (car-sharing) service," Shuleiko said.

Revenue in the taxi business jumped 89% year on year to 26.6 billion roubles ($369 million) in the first quarter, while Yandex.Drive revenue amounted to 2.5 billion roubles.

The platform monitors vehicle movements, providing driving profiles and identifying dangerous driving. It also helps predict emergency situations and forecasts fuel consumption.

Yandex also plans to spend $500 million on expanding its Yandex.Market market place and food delivery from grocery stores this year alone, expecting the e-commerce boom to continue, Shuleiko said. The figure does not include delivery from restaurants.

"We are focused on fast and aggressive growth... and expect to switch to profitability in e-commerce in a couple of years from now," he said.

($1 = 72.0175 roubles)

(Reporting by Gleb Stolyarov; Writing by Anna Rzhevkina and Katya Golubkova,; Editing by Jason Neely, Edmund Blair, Kirsten Donovan)

By Gleb Stolyarov


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.04% 72.888 Delayed Quote.-1.10%
YANDEX N.V. -0.01% 67.52 Delayed Quote.-2.96%
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Financials
Sales 2021 336 B 4 606 M 4 606 M
Net income 2021 508 M 6,97 M 6,97 M
Net cash 2021 154 B 2 107 M 2 107 M
P/E ratio 2021 2 324x
Yield 2021 -
Capitalization 1 758 B 24 130 M 24 130 M
EV / Sales 2021 4,78x
EV / Sales 2022 3,49x
Nbr of Employees 14 850
Free-Float 87,0%
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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TrendsBearishNeutralNeutral
Income Statement Evolution
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Mean consensus BUY
Number of Analysts 18
Last Close Price 4 920,52 RUB
Average target price 6 096,06 RUB
Spread / Average Target 23,9%
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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