Page 103 - RUSRptOct18

Kerimov was acquitted of all charges in France , and Sistema settled with Rosneft and unfroze the shares of Detsky Mir that were arrested by court. Sistema holds 52.1% in Detsky Mir, another 14.03% held by the Russia-China Investment Fund, the rest free floated. Control in the company is estimated at RUB45bn ($0.66bn). Detsky Mir controls 20% of Russian children’s goods market, has an annual turnover of RUB530bn ($7.8bn). The company recently posted strong second-quarter results , develops online sales, increased its store opening guidance, and could possibly pay out all profit in dividends
The court of appeal of Austrian Linz took the side of Moscow in the
decades-long fight for ownership of the Stolichnaya and Moskovskaya vodka brands , confirming the right of Soyuzplodoimport over the use of the brands on Austrian territory, the state-owned enterprise announced as reported by RBC on September 10. Since early 2000s Soyuzplodoimport has been fighting with SPI Group controlled by Russian tycoon Yuri Shefler , who had argued that he purchased rights to the brands for $285,000 in 1997 after the breakup of the former Soviet Union. Previously in January a Dutch court upheld a ruling to give the vodka names back to the state-owned enterprise, with the ruling only applying to Belgium, the Netherlands, and Luxembourg leaving the ownership of the brand with SPI Group's Spirits International in other countries in Europe. The Austrian court also awarded damages to Soyuzplodoimport for the use of the brands by SPI on its territory.
Rising corporate expenses took an H1 toll on DP Eurasia, which runs Domino’s Pizza brand in Turkey and Russia . The company on September 11 posted an 8% rise in first-half core profit, compared to the adjusted 20% gain seen a year ago. Its Dutch corporate expenses climbed to Turkish lira (TRY) 3.5mn ($545,000) from TRY0.1 million, while costs related to a planned expansion in Russia also weighed. DP Eurasia—Domino’s fifth-largest franchise which is the biggest pizza delivery firm in Turkey and the third largest in Russia—also reported adjusted Ebitda of TRY40.3mn ($6.2mn). Full-year adjusted Ebitda was forecast by the company to be in line with expectations.
9.2.7 TMT corporate news
In 2017 the turnover of Russia's e-commerce reached RUB1.04 trillion ($18bn), growing by 13% year-on-year, according to the data by the Association of Internet Trade Companies (AKIT). The market is expected to reach RUB1.25 trillion in 2018.
Russia's S7 Group will set up a $50mn venture fund that will invest in digital and industrial tech start-ups , Vedomosti daily reported on September 23 citing the company's VP for innovation Dmitry Chuyko. Currently 12% of venture projects of S7 are in Russia, with German, Indian, Chinese and US projects in its portfolio. The group has already reportedly invested about $10mn, without disclosing the projects. Vedomosti reminds that S7 recently said it invested in GetTransfer.com service. S7 Group is Russia's largest private air carrier and second-largest after Aeroflot, carrying 8.9mn passengers in January-July 2018 with Sibir and Globus carriers. The company owned by Natalia and Vladislav Filevs and announced a number of ambitious aviation-related projects such as development of light business turbojets , space rocket engines , and other.
Russian state integrated telecom major Rostelecom will produce
103 RUSSIA Country Report October 2018 www.intellinews.com