Mail ru : 2Q21 marketing pack

Quarterly

presentation

Q2 2021

Table

of contents

Overview………………………………………………………………………………………..............................	3
Financial & segmental highlights……………………………………...……………………………….	4
Guidance……………………………………...…………………………………………………………………….	11
Advertising…………………………………………………………………………............................................	13
VK……………………………………………………………………………………………………..........................	16
OK…………………………………………………………………………………………………….........................	23
MY.GAMES…………………………………………………………………………………………....................	27
EdTech……………………………………………………………………………………………………………….	33
Youla…………………………………………………………………………………………………………………..	35
O2O JV………………………………………………………………………………………………………………	39
FoodTech…………………………………………………………………………………………………………...	40
Mobility……………………………………………………………………………………………………………….	48
AliExpress Russia……………………………………………………………………………………………...	50
Leverage…………………….……………………………………………………………………………………...	54
Headcount………………………………………………………………………………………………………….	55
Shareholder structure ………………………………………………………………………………………	56

2

Q2 2021 Overview
Revenue RUB bn
+17%
25.5	30.0
Q2 2020	Q2 2021
EBITDA RUB bn	EBITDA Margin, %
29.1%	22.2%
	22.2%
-11%	•
7.4	6.7
Q2 2020	Q2 2021

3 Source: Group Aggregate Segment Financial Information

• Strong performance of advertising revenue (+39% YoY), VK remains the growth engine. Trends were particularly strong across performance formats, in-streamvideo advertising, SMBs
• MMO revenue contracted 6%YoY with the overall Games segment slightly surpassing Q2 2020 level, despite the base effect, no new internal game launches and no significant studio acquisitions YTD, as well as IDFA related changes
• Community IVAS revenue declined 2% YoY after particularly strong performance in Q2 2020 (~17% YoY), stimulated by lockdowns
• EdTech assets (Skillbox, GeekBrains) continued to demonstrate solid revenue growth (+1.9x YoY)
• Youla's revenue growth accelerated to 64% YoY in Q2, driven by B2B sales

EBITDA declined 11% YoY, but Games and New Initiatives segments delivered YoY improvement in profitability

Financial & segmental highlights

4

Revenue dynamics, RUB bn

5 Source: Internal data