Yandex · RUS:YDEX
Yandex — Q1 2015 Earnings Presentation
11 slides from Yandex's earnings presentation, Apr 28, 2015
Slide 1: Quarterly Supplementary Materials
Quarterly Supplementary Materials Search April 28, 2015
Slide 2: Share of the Russian Search Market
Key Investment Highlights Share of the Russian Search Market RUSSIAN SEARCH MARKET, % AVERAGE SEARCH SHARE PER QUARTER,% Yandex Google Mail.ru Rambler 70 Q1'12 59.4 25.7 9.1 1.4 Q2'12 60.4 26.2 8.4 1.4 60 Q3'12 60.5 26.7 8.1 1.4 50 Q4'12 60.5 26.5 8.5 1.4 Q1'13 61.6 26.1 8.5 1.3 40 Q2'13 61.7 26.1 8
Slide 3: Advertisers
Key Investment Highlights Advertisers NUMBER OF ADVERTISERS, IN THOUSANDS 500 60% 26% 30% 25% 25% 24% 24% 20% 400 14% 14% 10% 317 323 299 300 300 277 283 239 251 226 -40% 200 -90% 100 0 -140% Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Advertisers YoY Growth, % 3
Slide 4: Revenue
Key Investment Highlights Revenue YANDEX REVENUE1 BREAKDOWN2, MM RUR, % 16,000 14,667 2% 14,000 13,057 8% 12,158 1% 12,339 12,086 2% 12,000 1% 1% 6% 10,885 22% 5% 10,218 10% 6% 1% 21% 1% 10,000 9,199 7% 22% 24% 3% 8% 23% 7,999 9% 24% 68% 8,000 3% 71% 68% 23% 8% 15% 70% 6,000 16% 66% 68% 69% 73% 4,00
Slide 5: Operational Metrics
Key Investment Highlights Operational Metrics GROWTH IN PAID CLICKS AND CPC, % 120% 100% 80% 68% 65% 62% 61% 60% 50% 52% 49% 51% 47% 34% 35% 36% 40% 28% 29% 26% 26% 29% 22% 24% 20% 18% 19% 18% 20% 12% 19% 17% 21% 13% 14% 0% 7% 11% 8% 8% 5% 5% 3% -1% 1% 2% -7% -7% -5% -7% -5% -7% -5% -20% -13% -18% -
Slide 6: Traffic Acquisition Costs
Key Investment Highlights Traffic Acquisition Costs TAC BREAKDOWN, MM RUR 22% 23% 24% 22% 22% 25% 21% 21% 3500 20% 16% 16% 3,095 3000 2,828 2,762 15% 2,651 2,717 2,568 2500 10% 2,252 5% 2000 0% 1500 1,465 1,305 -5% 1000 -10% 500 -15% 0 -20% Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Distr
Slide 7: Traffic Acquisition Costs
Key Investment Highlights Traffic Acquisition Costs Partner TAC as % of Partner Revenue1, MM RUR, % 3,000 70.3% 71.5% 67.2% 66.7% 62.8% 63.0% 65.8% 64.3% 61.9% 70.0% 2,500 60.0% 2,023 2,102 1,825 1,866 50.0% 2,000 1,789 1,804 1,644 40.0% 1,500 30.0% 20.0% 820 890 1,000 10.0% 0.0% 500 -10.0% 0 -20.0%
Slide 8: Headcount and Personnel Cost Evolution
Key Investment Highlights Headcount and Personnel Cost Evolution HEADCOUNT1 BY GAAP COST CATEGORY2 27% 7000 21% 20% 22% 20% 20% 30% 18% 16% 18% 6000 5,514 5,616 5,603 10% 5,136 5,300 4,902 32% 33% 32% 5000 -10% 4,298 4,409 33% 33% 3,972 32% 4000 34% -30% 36% 35% 61% 3000 59% -50% 59% 59% 59% 60% 55%
Slide 9: Capex, MM RUR
Key Investment Highlights Capex, MM RUR1 6,800 39% 50% 5,800 17% 19% 18% 19% 20% 30% 14% 4,836 4,800 11% 7% 10% 3,800 -10% 2,998 2,800 2,470 2,065 2,146 -30% 1,727 1,665 1,800 -50% 859 800 685 -70% (200) -90% Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Capex Capex as % of Revenue 1 Figures
Slide 10: Costs, MM RUR
Key Investment Highlights Costs, MM RUR Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Cost of Sales (COS) TAC 1,305 1,465 2,252 2,810 2,568 2,651 2,762 3,095 2,717 COS ex‐SBC, ex‐TAC 660 681 659 713 745 753 782 880 953 SBC related to COS 11 12 20 18 19 23 26 32 43 Total Cost of Sales 1,976 2
Slide 11: Thank you!
Thank you! Search