Russian Rambler announces record profits for 2005

Rambler, the No.2 search engine in Russia with a 20% share in the market, have released their financial statement for 2005. As expected they have seen significant growth, as with most industry sectors in Russia the online advertising market has benefited from high global fuel and raw material prices. In line with Yandex and the other major players in Runet they have seen a doubling of internet sales over this period.

Report Highlights:

  • Net sales up 71% year on year to US$ 21.42 million (US$ 12.5 million)
  • Internet sales up 112% to US$ 14.82 million (US$ 7.01 million)
  • 54% year on year increase in number of unique monthly users of Rambler.ru to over 19.5 million – further increase to 20.8 million by end of March 2006
  • 156% increase in monthly page views to 1.3 billion – further increase to 1.5 billion by end of March 2006
  • Launch of co-branded Rambler-ICQ instant messenger
  • Launch of internet hypermarket – Shop.rambler.ru
  • Partnership with St Minver to launch online gaming portal – Ramblas.ru

Irina Gofman, Chief Executive Officer of Rambler Media Limited (RMG.LN), commented:

“Revenues in our internet division grew faster than the internet advertising market itself, due to the introduction of innovative new online services and to increased internet penetration and usage in Russia. Our TV division is growing rapidly and our Mobile content business is approaching profitability despite heightened competition. We continue to explore new opportunities to create synergies through our multimedia windows.

These solid results demonstrate the quality of our services and confirm that Rambler Media has become the partner of choice for advertisers targeting urban, active, Russian-speaking consumers in Russia and internationally. We are confident that these favourable market trends will continue beyond 2006 and that we will continue to create value for our users, partners and shareholders.”

Nick Wilsdon

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