Q3 revenue, including all acquisitions on a pro forma basis, grew 39.1% Y-o-Y to RUR 13,577m.
As we have stated previously, 2017 remains an investment year for us and we continue to put significant resources behind a number of our new projects which, at this stage, are not contributing to EBITDA. For the first nine months, revenues have grown on a pro-forma basis 35.2% Y-o-Y to RUR 39,905m and EBITDA 9.0% Y-o-Y to RUR 14,106m.
- 9m 2017 Group aggregate net profit grew 12.0% Y-o-Y to RUR 9,730 million.
Net cash position as of 30 September 2017 was RUR 9,718 million.
As previously commented we expect the ad load and pricing to continue to grow.
VK team continues to make improvements to the platform and the user experience.
We continue to see advertising budgets shift to mobile and hence we benefit from our leading position in the Russian mobile space.
A lot of traditional offline brands are allocating larger parts of their media spend to the social networks, and are adopting mobile and in-feed video ad formats.
- Delivery Club introduced a VK built-in ‘mini-app’, on desktop and mobile.
- Delivery Club multiple updates: food takeaway, favorite restaurants, personalized promo codes and reordering.
- Q3 2017 Group aggregate segment EBITDA grew 1.1% Y-o-Y to RUR 4,260 million.