Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Moscow Micex - RTS  >  Sberbank of Russia    SBER   RU0009029540


SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Sberbank of Russia : O2O JV between Sberbank and Mail.ru Group gets RUB12 bn for business development

share with twitter share with LinkedIn share with facebook
08/19/2020 | 03:22am EDT

The O2O ride-hailing and foodtech JV between Sberbank and Mail.ru Group has welcomed an additional RUB12 bn in financing from both of the parties on equal terms.

Top managers of the O2O JV are confident that food delivery is a promising industry, and not just when it comes to deliveries from restaurants, but with some new domains too, like dark kitchens and dark stores. The same goes for transportation services, which go beyond ride-hailing or car sharing offerings, but let you get from point A to point B most optimally and conveniently.

The investment will be used to scale up the businesses and verticals that were not part of the deal when it was closed in December 2019, including the 2GIS mapping service, the Samokat express e-grocery delivery unit (a 75.6% stake consolidated in May), and other assets.

Ride-hailing and restaurant delivery services Citymobil and Delivery Club remain well-funded and do not need to attract more investment.

The current funding efforts do not affect the KPI-based payments set around the initial assets of the joint venture.

After the additional funding, Sberbank and Mail.ru Group will maintain equal JV stakes of 45.005% each, with the remainder to be potentially allocated for the long-term motivation program to incentivize JV employees.

Lev Khasis, First Deputy Chairman of the Executive Board, Sberbank:

'The demand for distance services the JV companies offer has witnessed explosive growth over the past six months; in some cases, it soared several times. In fact, we are operating in a market that is growing at a dramatic rate. And we're naturally interested in reinforcing our leadership where our domination is established, and most importantly we seek to take the lead with our brand new services that we are now launching as part of the JV. This is exactly what the new investment will be injected into.'

Boris Dobrodeev, CEO, Mail.ru Group:

'We maintain our ambition to build a leading player on the local foodtech and mobility market. Some business verticals have been stimulated by the pandemic - under different circumstances, it would have taken years to build that audience pool. We would like to take advantage of the opportunities arising within the space, with our O2O unit well-positioned for further diversification and growth. We are confident that many habits established by the pandemic will remain in place and we want our units to be the companies of choice for the satisfaction of key user demands within mobility and foodtech, going well beyond traditional restaurant delivery or ride-hailing services'.

The O2O (online-to-offline) mobility and foodtech joint venture between Sberbank and Mail.ru Group was established in December 2019. It includes the restaurant delivery service Delivery Club, the Samokat express e-grocery delivery unit, the Citymobil ride-hailing service, the YouDrive car sharing service, the Foodplex multifunctional platform for restaurant customers and owners, and the producer of ready food rations Performance Group.


Sberbank of Russia published this content on 19 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2020 06:21:10 UTC

share with twitter share with LinkedIn share with facebook
10/29SBERBANK OF RUSSIA : markets loans for property pledged as security at other ban..
10/29SBERBANK OF RUSSIA : 3Q Net Profit Rose Significantly; Cautiously Optimistic Abo..
10/29SBERBANK OF RUSSIA : Russia's Sberbank is looking for buyer to sell Eurocement G..
10/29Russia's sberbank says it acquired 100% stake in eurocement group, is looking..
10/29SBERBANK : Sber earned RUB271.4 bn in 3Q 2020 under IFRS
10/29SBERBANK OF RUSSIA : reports 3Q 2020 Net Profit of RUB271.4 bn under Internation..
10/28SBERBANK OF RUSSIA : to finance construction of export-oriented plant by providi..
10/28Russia's VTB to stay in grain business for next 3-5 years - CEO
10/27SBERBANK OF RUSSIA : Sber to talk about responsible financial behavior at Russia..
10/27SBERBANK OF RUSSIA : Sber to hold Russia's first online conference for schoolchi..
More news
Sales 2020 2 170 B 27 315 M 27 315 M
Net income 2020 719 B 9 052 M 9 052 M
Net Debt 2020 - - -
P/E ratio 2020 6,32x
Yield 2020 7,61%
Capitalization 4 320 B 54 471 M 54 387 M
Capi. / Sales 2020 1,99x
Capi. / Sales 2021 1,92x
Nbr of Employees 276 598
Free-Float 45,1%
Duration : Period :
Sberbank of Russia Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SBERBANK OF RUSSIA
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 16
Average target price 289,27 RUB
Last Close Price 201,03 RUB
Spread / Highest target 132%
Spread / Average Target 43,9%
Spread / Lowest Target 10,9%
EPS Revisions
Herman Gref Chief Executive Officer & Member-Supervisory Board
Anton Germanovich Siluanov Chairman-Supervisory Board
Alexandra Buriko Chief Financial Officer & Head-Finance
David Rafalovsky Chief Technology Officer & Executive VP
Sergei Mikhaylovich Ignatiev Deputy Chairman-Supervisory Board
Sector and Competitors