Mail.Ru Group Q4 20 Conference Call Notes
Mail.Ru Group sees around 20% yoy growth in digital advertising business in January-February 2021.FY 20 margin is seen at the lowest end of the expected mid-term range, and the profitability is expected to increase in FY 21e and possibly longer term, particularly as investments in new assets ultimately convert into profits.
Mail.Ru Group may consider asset monetization in order to enhance shareholder value if it sees an opportunity to do so.
FY 21e is going to be more traditional in terms of Games margin seasonality with Q1 being the lowest and Q4 the highest.
CityMobil reached positive unit economics before HQ costs in February 2021.
Mail.Ru Group expects that both O2O and AER JVs will require further financing and remains committed to invest in these assets.
Native VK Combo user count is around 1 mn, and the integration with VK Music is ongoing with the combined user base at around 3.5 mn.
Mail.Ru Group is an Internet company based in the Russian Federation. Co. operates the email service [email protected] and two IM networks in Russia - Mail.Ru Agent and ICQ. Co. operates two Russian-language online social networking sites: Moi [email protected] and Odnoklassniki.ru, and owns a strategic minority equity stake in the social network Vkontakte. Co. is also engaged in developing projects in E-commerce and operating more than 40 thematic vertical sites, targeting various user categories. Co. is also Russia's predominant online games company. Co. maintains a portfolio of online games which includes 34 MMO games and over 30 games for social networking sites.
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