Mail.Ru Group 1Q 20 Earnings Preview - Business mix provides some resilience
Mail.Ru Group is due to report 1Q 20e results on April 23. As the Covid-19 impact will only filter through in the second half of March, 1Q 20e financials should be relatively unaffected. We expect double-digit revenue growth, flat EBITDA and a net profit decline due to losses at joint ventures in the ramp-up stage. We expect Mail.Ru Group to abstain from providing a forward-looking guidance, although we think that it has tools to mitigate the negative effects of the global pandemic environment, such as video gaming, e-commerce and food deliveryMail.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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