AMZ123 learned that recently, according to foreign media reports, the Russian e-commerce platform Ozon released its first quarter financial report of 2024. The report shows that Ozon's turnover in the first quarter reached 570.2 billion rubles (about 6.212 billion US dollars), up 88% year on year.
![Ozon's Q1 turnover exceeded 6.2 billion US dollars in 24 years, with a growth rate of 88%!](https://img.amz123.com/upload/content/202404/17144553061650331098234.png)
It is understood that Ozon's profit in the first quarter was 10.7 billion rubles, while its loss was 13 billion rubles. Due to the increase in sales and marketing expenses, Ozon's operating expenses increased by 1.5 times to 23.9 billion rubles in this quarter.
The total GMV (total commodity transactions) of e-commerce business, including services, increased by 88% year on year, exceeding 570 billion rubles. This significant growth is mainly driven by the platform sellers, whose GMV growth rate in the first quarter of 2024 will be twice that of Ozon as a whole, accounting for 85% of the total GMV of the platform. At the same time, the number of active sellers doubled in the past year to 500000.
Ozon expanded its investment in platforms and logistics infrastructure, focusing on the regional markets in Russia, and promoted the number of active buyers to increase by 32% year-on-year to 49 million. The loyalty of buyers has also increased significantly. As of the end of the quarter, the average annual order frequency of each active buyer has increased to 22. Based on this, Ozon's orders in the first quarter of 2024 will reach 305 million, up 70% year on year.
The service revenue increased by 39% year on year, reaching 72 billion rubles in total, of which the advertising revenue increased by 120%, reaching 23.7 billion rubles in the first quarter of 2024. Then in the first quarter of 2024, the growth of commission income slowed down to 11%, which is related to the platform's overweight in development investment and providing third-party services to sellers proxy pattern The completion of transformation is closely related.
In addition, Ozon disclosed for the first time the performance of e-commerce and financial technology in the structure of EBITDA. Among them, the adjusted EBITDA in the e-commerce field decreased by 40% year-on-year to 3.3 billion rubles. Ozon pointed out that the decline was due to the increase of development investment and logistics service costs. However, the adjusted EBITDA in the field of financial technology increased by 2.4 times to 5.9 billion rubles, which was due to the increase of interest and commission income. The number of active users in the field of FinTech increased by 70% to 20.2 million.
![Ozon's Q1 turnover exceeded 6.2 billion US dollars in 24 years, with a growth rate of 88%!](https://img.amz123.com/upload/content/202404/17144553060186113908234.png)
Looking ahead, Ozon expects that the turnover will increase by about 70% year on year in 2024, and the adjusted EBITDA will maintain a positive growth. At the same time, Ozon will continue to invest in platform development and logistics infrastructure construction, and focus on the market business in various regions.
Author: Rayna/AMZ123
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