Page 113 - RusRPTDec19

Magnit, Lenta, and Metro are collaborating with express delivery services. Dixy will team up with Sberbank’s delivery and logistics service SberLogistika in development of the delivery solutions, Pletnev said. This year Dixy Group merged with liquor store chains Bristol and Red & White, with annual revenues of about RUB800bn ($12bn) and over 13,000 retail points of sale ​creating the third biggest retailer in Russia​ after only X5 Retail Group and Magnit. The merger was followed ​with an appointment of Pletnev​, an ex-development director and strategic director for Pyterochka supermarket format of country’s largest retailer X5 Group. Reportedly, Dixy and X5 have separately settled a non-compete clause in Pletnev’s contract with X5, allowing him to take the CEO position with one of the largest competitors.
Russian mobile major MegaFon announced launching the cloud service MegaFon-Cargo ​which allows optimisation of logistic chains in Russia, Vedomosti d​ aily reported citing the representatives of the company. As reported by ​bne IntelliNews,​ MegaFon's rival VimpelCom (Veon) recently announced installing its ​dashboard navigation and information system on board domestic Kamaz trucks​, potentially providing services to trucking operators. ​Vedomosti r​ eminds that MTS also uses its own logistics systems available to corporate clients and prepares to integrate those with CloudMTS, a cloud platform in development. MegaFon-Cargo was developed by Mail.ru Group (affiliated with MegaFon) for an undisclosed amount, and will allow to launch cargo shipments online, e-sign necessary documents, compare prices for transportation and bundle up different orders. The cloud system will use GPS and domestic GLONASS, as well as MegaFon transmission stations for tracking the cargo.
Russian carsharing service BelkaCar changed shareholders, with Coneplace Limited of BMT Private Equity becoming the main shareholder​, the company said on October 31 without disclosing the amount of the deal. As reported by ​bne IntelliNews​, ​carsharing vehicles in Moscow could triple to 30,000 by 2025​, according to a PriceWaterHouseCoopers forecast cited by RBC business portal in September 2018. BMT is controlled by Dmitry Zimin, the founder of the Veon mobile major (former Vimpelcom, operates in Russia under Beeline brand). BMT bought out the entire stake of Swiss Winterberg Group (former Bryanston Group). The new shareholders will support BelkaCar in strengthening its position in Moscow and an “aggressive regional expansion”. BelkaCar was founded in 2015 by Ekaterina Makarova, Loriana Sardar, and Elena Muradova. Sberbank previously estimated that the value of the entire ​Russian urban transportation market (taxi, carsharing, carpooling, etc) could reach RUB2 trillion by 2025​, growing by an average of 15% from RUB748bn seen in 2018.
EPAM has reported a strong set of 3Q19 numbers, with 26% y/y top-line growth, slightly above consensus estimates​. The company reiterated its FY19 revenue growth guidance of 23% y/y, while slightly increasing its guidance for the FY19 non-GAAP operating margin and non-GAAP EPS. Management also highlighted that it continued to see strong demand for its services, which is likely to allow it to maintain growth in excess of 20% in 2020. VTBC leaves its 12-month Target Price of $165 unchanged, which implies an ETR of -8%: Sell reiterated. Revenues. EPAM’s top line increased 25.6% y/y to $588mn, 1% above consensus. On a constant currency basis, revenues would have increased 27.2% y/y. Across verticals, Financial Services, Travel&Consumer and Business Information&Media growth rates accelerated to 24% y/y (vs. 17% y/y in 2Q19), 11% y/y (vs. 6% y/y in 2Q19) and 29% y/y
113​ RUSSIA Country Report​ December 2019 ​ ​www.intellinews.com