Page 192 - RusRPTApr23

Kinopoisk led in 2022 by revenue among online video services in Russia with 24.1% of the market in money in comparison to 14.6% a year earlier, news and research agency TelecomDaily said on March 8 in a statement. Service ivi raised its share to 20.5% from 19.7%, TelecomDaily said. Wink increased its share to 11.4% from 8.4%, and Okko’s share rose to 10.8% from 10.4%.
9.2.6 Agriculture corporate news
Net profit of Rusagro under International Financial Reporting Standards dropped by 84% in 2022 compared with 2021 to 6.787bn rubles ($99mn), according to the company’s financial results for last year published on its website on Monday. Sales totaled 240.23bn rubles ($3.504bn), up by 8% compared to 2021, according to the report. Adjusted EBITDA amounted to 45.015bn ($657mn), down by 6% compared with the previous year. Adjusted EBITDA margin decreased to 19% in 12M 2022 from 22% in 12M 2021. Net debt equaled 99.723bn rubles ($1.418bn) as of December 31, 2022, while net debt/adjusted EBITDA was 2.22 as of the same date. One of Russia’s leading producers of sugar, pork and fat-and-oil products, Rusagro Group supplies products to more than 80 Russian regions and 35 countries worldwide.
9.2.7 TMT corporate news
● Yandex
Some more details of the new ownership structure appeared on March 6.
The parent company of the "Russian" "Yandex" will be created by the Dutch Yandex N.V., the main shareholder of which is the founder Arkady Volozh. It is possible that this will happen in the Russian internal offshore in Kaliningrad.
The mechanism of the “golden share” will be transferred to the Russian structure, which gives the Public Interest Fund the right to block large transactions with stakes of 10% or more.
A special structure, the Fund of Managers, will control the new parent company Yandex in terms of making key decisions. RBC learned that it will include Alexei Kudrin, who joined Yandex from the Accounts Chamber, Tigran Khudaverdyan, former managing director of Yandex (who is under EU sanctions), and top managers Daniil Shuleiko and Artem Savinovsky.
It is this fund Yandex N.V. will transfer management of Russian business for 5 years, including the right to vote with a controlling stake (but not the papers themselves, reflecting economic interest) and the right to appoint up to six representatives to the board of directors, RBC claims. How many there will be in total is unknown.
192 RUSSIA Country Report Russia April 2023 www.intellinews.com