Page 151 - RusRPTJan21

OZON representative told vc.ru that the average commission will be more than halved and will range from 4-15% vs. the current 5-25%. The company will also cancel the minimum sales commission threshold. At the same time, the company will abolish uniform shipping and return rates. From February 2021, tariffs will be determined using three components: order processing, the transfer to the buyer's region and the "last mile", all of, which will depend on the weight, volume and price of the item being shipped. According to OZON, this approach should make logistics costs more transparent to sellers. For example, under the new approach, the total commission for an item from a fashion category shipped from Moscow to Kazan (with a weight of 1.1kg, a volume of 1.5 liters and a price of RUB1,500) will drop from 20% to around 13.7-14.4% for the fulfilled-by-OZON and fulfilled-by-seller options. Under the new structure, the seller will pay a smaller commission for the sale (5% vs. the previous 15%) but a higher commission for logistics (8.7-9.4%). At the same time, the returning of items will become more costly for sellers under the new structure. For the example above, the seller would pay a commission of 10.7-12.6% vs. the previous 10% if the item were returned.
Rostelecom announced December 24, that VTB, which on our estimates currently owns c. 18% of Rostelecom’s share capital ​both directly and via Telecom Investments, would be the strategic partner in the joint development of Rostelecom Data Centers (RTK-DC), its subsidiary that operates data centres and cloud assets. VTB Bank will invest RUB35bn in RTK-DC to acquire a 44.8% stake. According to Rostelecom, the transaction multiple implies a 2020E EV/EBITDA of 7.8x. The parties expect to close the deal before YE20. The companies also see an IPO for RTK-DC as possible within the next three years. Rostelecom aims to use the funds received in the transaction for debt repayments and investments into RTK-DC, including the further development of its regionally distributed data centre network and new cloud solutions. RTK-DC is the leader on the Russian data centre market with a 25% share (by number of racks) as well as on the cloud/IaaS markets with a 26% share (by revenue). The business operates 12,200 racks. Rostelecom expects RTK-DC’s revenue to reach RUB26bn this year, with an EBITDA margin of 40%. According to Rostelecom CEO Mikhail Oseevsky, the company expects RTK-DC to deliver double-digit growth.
9.2.10 ​Utilities corporate news
Enel Russia​ had requested delaying the accrual of fines for the expected delay of the commissioning of the 90MW Azov wind project (due to force majeure​), which was due to be launched in December 2020, the company said on 14 December. The reason for the delay was the COVID-19 outbreak. The company said that the key issues came in the period 18 March-16 October, when it was not possible to supply certain spare parts on time and there were problems with foreign personnel getting to the site. The Market Council is to assess the issue on 23 December. According to the materials, the
151 ​RUSSIA Country Report​ January 2021 www.intellinews.com