Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2021shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2021 |
Document Fiscal Year Focus | 2021 |
Document Fiscal Period Focus | FY |
Entity Registrant Name | Ozon Holdings PLC |
Entity Central Index Key | 0001822829 |
Current Fiscal Year End Date | --12-31 |
Entity Well-known Seasoned Issuer | Yes |
Entity Current Reporting Status | Yes |
Entity Filer Category | Large Accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Common Stock, Shares Outstanding | 216,413,733 |
Entity Voluntary Filers | No |
Entity Interactive Data Current | Yes |
Entity Address, Country | CY |
Document Annual Report | true |
Document Transition Report | false |
Document Shell Company Report | false |
ICFR Auditor Attestation Flag | true |
Auditor Name | JSC KPMG |
Auditor Firm ID | 3055 |
Auditor Location | Moscow, Russia |
Entity Address, Address Line One | Arch. Makariou III, 2-4 |
Entity Address, Address Line Two | Capital Center, 9th floor |
Entity Address, City or Town | Nicosia |
Entity Address, Postal Zip Code | 1065 |
Entity Incorporation, State or Country Code | G4 |
Entity File Number | 001-39713 |
Document Registration Statement | false |
Document Accounting Standard | International Financial Reporting Standards |
Class A Shares [Member] | |
Document Information [Line Items] | |
Entity Common Stock, Shares Outstanding | 2 |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Country | CY |
Entity Address, Address Line One | Arch. Makariou III, 2-4 |
Entity Address, Address Line Two | Capital Center, 9th floor |
Entity Address, City or Town | Nicosia |
Entity Address, Postal Zip Code | 1065 |
City Area Code | 357 |
Local Phone Number | 22 360 000 |
Contact Personnel Name | Alexey Arkhipov |
American Depositary Shares [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | American Depositary Shares |
Trading Symbol | OZON |
Security Exchange Name | NASDAQ |
Ordinary shares [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Ordinary shares |
No Trading Symbol Flag | true |
Consolidated Statements of Prof
Consolidated Statements of Profit Or Loss And Other Comprehensive Income - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue: | |||
Sales of goods | ₽ 120,792 | ₽ 81,414 | ₽ 53,487 |
Service revenue | 57,423 | 22,936 | 6,617 |
Total revenue | 178,215 | 104,350 | 60,104 |
Operating expenses: | |||
Cost of sales | (112,548) | (72,859) | (48,845) |
Fulfillment and delivery | (76,240) | (30,676) | (16,808) |
Sales and marketing | (24,695) | (10,015) | (7,153) |
Technology and content | (11,422) | (4,394) | (3,520) |
General and administrative | (12,166) | (3,729) | (2,390) |
Total operating expenses | (237,071) | (121,673) | (78,716) |
Operating loss | (58,856) | (17,323) | (18,612) |
Net gain on revaluation of conversion options and other financial instruments | 6,341 | 0 | 0 |
Loss on disposal of non-current assets | (33) | (35) | (7) |
Interest expense | (5,802) | (2,115) | (980) |
Interest income | 1,484 | 311 | 179 |
Share of profit of an associate | 197 | 112 | 54 |
Foreign currency exchange (loss) / gain, net | (108) | (1,984) | (213) |
Other non-operating expenses | 0 | (1,000) | 0 |
Total non-operating expenses | 2,079 | (4,711) | (967) |
Loss before income tax | (56,777) | (22,034) | (19,579) |
Income tax (expense) / benefit | (2) | (230) | 216 |
Loss for the year | (56,779) | (22,264) | (19,363) |
Items that are or may be reclassified to profit or loss (net of tax): | |||
Exchange differences on translation of foreign operations | (3) | 0 | 0 |
Other comprehensive income, net of tax | (3) | 0 | 0 |
Total comprehensive income for the period | ₽ (56,782) | ₽ (22,264) | ₽ (19,363) |
Loss per share, in RUB | |||
Basic and diluted loss per share attributable to ordinary equity holders of the parent | ₽ (276.1) | ₽ (135.1) | ₽ (150.4) |
Basic and diluted weighted average number of ordinary shares | 205,619,832 | 164,605,952 | 128,597,975 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Non-current assets | ||
Property, plant and equipment | ₽ 29,970 | ₽ 13,003 |
Right-of-use assets | 39,940 | 14,579 |
Intangible assets | 1,171 | 317 |
Investments in an associate | 1,238 | 1,111 |
Deferred tax assets | 80 | 44 |
Other financial assets | 2,312 | 746 |
Other non-financial assets | 41 | 0 |
Total non-current assets | 74,752 | 29,800 |
Current assets | ||
Inventories | 26,362 | 15,342 |
Accounts receivable | 6,611 | 3,405 |
VAT receivable | 3,440 | 908 |
Other financial assets | 75 | 0 |
Other non-financial assets | 4,107 | 1,429 |
Short-term bank deposits | 17,954 | 22 |
Cash and cash equivalents | 108,037 | 103,702 |
Total current assets | 166,586 | 124,808 |
Total assets | 241,338 | 154,608 |
Equity | ||
Share capital | 12 | 11 |
Share premium | 134,924 | 133,439 |
Treasury shares | (1) | 0 |
Equity-settled employee benefits reserves | 7,800 | 1,152 |
Other capital reserves | (3) | |
Accumulated deficit | (112,124) | (55,345) |
Total equity | 30,608 | 79,257 |
Non-current liabilities | ||
Borrowings | 50,577 | 2,323 |
Lease liabilities | 34,770 | 12,267 |
Conversion options | 594 | 0 |
Deferred tax liabilities | 46 | 66 |
Deferred income | 289 | 406 |
Other non-current liabilities | 518 | 78 |
Total non-current liabilities | 86,794 | 15,140 |
Current liabilities | ||
Trade and other payables | 89,273 | 42,545 |
Borrowings | 11,539 | 7,125 |
Lease liabilities | 7,697 | 3,223 |
Taxes payable | 1,077 | 816 |
Accrued expenses | 4,716 | 1,677 |
Contract liabilities and deferred income | 9,634 | 4,825 |
Total current liabilities | 123,936 | 60,211 |
Total liabilities | 210,730 | 75,351 |
Total equity and liabilities | ₽ 241,338 | ₽ 154,608 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Equity - RUB (₽) ₽ in Millions | Total | Share capital [member] | Share premium [member] | Treasury shares [member] | Equity settled employee benefits reserves [member] | Other capital reserves [member] | Accumulated losses [member] |
Beginning balance at Dec. 31, 2018 | ₽ 3,394 | ₽ 4 | ₽ 15,484 | ₽ 366 | ₽ (12,460) | ||
Loss for the period | (19,363) | (19,363) | |||||
Other comprehensive income | 0 | ||||||
Total comprehensive income | (19,363) | (19,363) | |||||
Issue of ordinary shares, net of transaction costs | 16,556 | 2 | 16,554 | 0 | |||
Issue of shares upon exercise of share-based awards | 15 | (15) | |||||
Share-based compensation expense | 190 | 190 | |||||
Convertible loans | 40 | ₽ 1,043 | (1,003) | ||||
Ending Balance at Dec. 31, 2019 | 817 | 6 | 32,053 | ₽ 0 | 541 | 1,043 | (32,826) |
Loss for the period | (22,264) | (22,264) | |||||
Other comprehensive income | 0 | ||||||
Total comprehensive income | (22,264) | (22,264) | |||||
Issue of ordinary shares, net of transaction costs | 101,358 | 5 | 101,353 | ||||
Issue of shares upon exercise of share-based awards | 33 | (33) | |||||
Share-based compensation expense | 644 | 644 | |||||
Convertible loans | (1,298) | (1,043) | (255) | ||||
Ending Balance at Dec. 31, 2020 | 79,257 | 11 | 133,439 | 1,152 | (55,345) | ||
Loss for the period | (56,779) | (56,779) | |||||
Other comprehensive income | (3) | (3) | |||||
Total comprehensive income | (56,782) | (3) | (56,779) | ||||
Issue of shares upon exercise of share-based awards | 313 | 1,485 | (1,172) | ||||
Issue of shares to employee benefit trust | 1 | (1) | |||||
Share-based compensation expense | 7,820 | 7,820 | |||||
Ending Balance at Dec. 31, 2021 | ₽ 30,608 | ₽ 12 | ₽ 134,924 | ₽ (1) | ₽ 7,800 | ₽ (3) | ₽ (112,124) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows from operating activities | |||
Loss before income tax | ₽ (56,777) | ₽ (22,034) | ₽ (19,579) |
Adjusted for: | |||
Depreciation and amortization of non-current assets | 9,880 | 4,963 | 2,590 |
Interest expense | 5,802 | 2,115 | 980 |
Interest income | (1,484) | (311) | (179) |
Foreign currency exchange loss/(gain), net | 108 | 1,984 | 213 |
Net gain from revaluation of conversion options and other financial instruments | (6,341) | 0 | 0 |
Write-downs and losses of inventories | 3,317 | 482 | 1,217 |
Loss on disposal of non-current assets | 33 | 35 | 7 |
Share of profit of an associate | (197) | (112) | (54) |
Changes in allowances on accounts receivable and advances paid | (19) | 131 | 169 |
Forgiveness of lease payments | 0 | (21) | 0 |
Share-based compensation expense | 7,820 | 644 | 190 |
Movements in working capital: | |||
Changes in inventories | (14,278) | (5,005) | (5,577) |
Changes in accounts receivable | (3,125) | (482) | (1,146) |
Changes in advances paid and other assets | (7,042) | (481) | (2,089) |
Changes in trade accounts payable | 44,538 | 20,885 | 8,776 |
Changes in other liabilities | 8,773 | 5,202 | 1,051 |
Cash (used in) / generated from operations | (8,992) | 7,995 | (13,431) |
Interest paid | (4,485) | (1,356) | (876) |
Income tax paid | (149) | (69) | (5) |
Net cash (used in) / generated from operating activities | (13,626) | 6,570 | (14,312) |
Cash flows from investing activities | |||
Purchase of property, plant and equipment | (18,680) | (6,714) | (4,742) |
Purchase of intangible assets | (661) | (126) | (26) |
Placement of bank deposits | (17,200) | 0 | 0 |
Interest received | 1,267 | 260 | 158 |
Dividends received from an associate | 211 | 0 | 71 |
Issuance of loans | (340) | 0 | 0 |
Net cash used in investing activities | (35,403) | (6,580) | (4,539) |
Cash flows from financing activities | |||
Convertible loans issue proceeds | 0 | 6,171 | 20,099 |
Proceeds from issue of ordinary shares | 0 | 90,480 | 0 |
Convertible bonds issue proceeds | 54,499 | 0 | 0 |
Proceeds from exercise of a share option | 313 | 0 | 0 |
Proceeds from borrowings | 10,371 | 8,711 | 413 |
Repayment of borrowings | (6,522) | (499) | (310) |
Payment of principal portion of lease liabilities | (4,769) | (2,296) | (867) |
Net cash generated from financing activities | 53,892 | 102,567 | 19,335 |
Net increase / (decrease) in cash and cash equivalents | 4,863 | 102,557 | 484 |
Cash and cash equivalents at the beginning of the period | 103,702 | 2,994 | 2,684 |
Effects of exchange rate changes on the balance of cash held in foreign currencies | (528) | (1,849) | (174) |
Cash and cash equivalents at the end of the period | ₽ 108,037 | ₽ 103,702 | ₽ 2,994 |
Corporate Information
Corporate Information | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Corporate Information | 1. CORPORATE INFORMATION These consolidated financial statements of Ozon Holdings PLC (hereinafter “the Company”) and its subsidiaries (collectively, “the Group”) for the year ended December 31, 2021 were authorized for issue in accordance with a resolution of the directors on April 29, 2022. Ozon Holdings PLC (until October 22, 2020—Ozon Holdings Limited and until November 8, 2007—Jolistone Enterprises Limited) is a public limited company that was incorporated on August 26, 1999 under the law of the Republic of Cyprus (“Cyprus”). The Company’s registered office is located at Arch. Makariou III, 2-4, The principal subsidiaries of the Company, all of which have been included in these consolidated financial statements, are as follows: % equity interest Subsidiary Principal activity 2021 2020 Ozon Holding LLC Holding entity for Russia-based assets 100 % 100 % Internet Solutions LLC Internet retailer of consumer goods 100 % 100 % Internet Logistics LLC Management of fulfillment facilities 100 % 100 % Internet Travel LLC Internet retailer of travel services 100 % 100 % Ozon Technologies LLC IT services and development 100 % 100 % All the principal subsidiaries of the Company are incorporated in the Russian Federation (“Russia”). The Group is a leading e-commerce on-line the On November 27, 2020, the Company completed an initial public offering (“IPO”) of 37,950,000 newly issued ordinary shares, represented by 37,950,000 American depositary shares (“ADSs”), on Nasdaq. In addition, the Group issued 4,500,000 ordinary shares to its existing shareholders, Sistema PJSFC and Baring Vostok Private Equity Funds (“Baring Vostok”), in concurrent private placements. Sistema PJSFC and Baring Vostok are the Group’s major shareholders with the ownership share of 33.0% and 32.6%, respectively, as at December 31, 2021. The Group has no ultimate controlling party since March 5, 2012. As of December 31, 2021, the Group’s principal geographic market is Russia. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Significant Accounting Policies | 2. SIGNIFICANT ACCOUNTING POLICIES 2.1 Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) on a going concern basis (note 2.2). The consolidated financial statements have been prepared on a historical cost basis, except for circumstances where IFRS requires other basis of accounting (e.g. fair value). 2.2 Going concern basis of accounting As of December 31, 2021, the Group had cash, cash equivalents and short-term bank deposits of 125,991 (2020: 103,724) and net current assets of 42,650 (2020: 64,597). The trading of the Company’s ADSs on NASDAQ Global Select Market was suspended on February 28, 2022 and remained suspended throughout the period to and including March 8, 2022. Under the conditions of the Company’s U Due to, among other things, uncertainty around the impact of the restrictions under the recently enacted Russian capital control and protection measures on the ability to transfer cash funds from the Group’s Russian subsidiaries to the Company, there is a risk that the Company will not have sufficient liquidity available at the relevant time to fund the payments required for the redemption if all or a significant number of the bondholders choose to exercise their redemption right. A failure to timely pay the amounts due under the redemption would result in an event of default under the terms of the Bonds and may trigger a potential cross-default on other Group’s liabilities. If the Group provided to the Company the liquidity necessary to fund the early redemption in the absence of new restrictions, such a redemption would result in a significant reduction in the amount of liquidity available to fund operations and would have a significant effect on our operations and growth outlook. The Company has entered into discussions with an ad hoc group of holders of the Bonds and their advisers in connection with a proposed consensual restructuring by the Company of its financial indebtedness under the Bonds following the ‘Delisting Event’ and aims to be in a position to enter into a standstill agreement with a significant number of holders of the Bonds in the near term with a view to continue such discussions and to reach an agreement on the long term restructuring of the Bonds within the current financial year. Further, in response to the current economic challenges (note 31), the Group’s management revisited its budget and liquidity plan to re-focus its operations on improvement of efficiency and reduction of needs for additional funding. Currently, the Company continues to operate as usual. As of March 31, 2022, the Group had approximately 92,500 in cash and cash equivalents and short-term bank deposits available to support operational needs and settle financial obligations. The Company’s liquidity is mostly held in deposits in Russia. Subject to the foregoing, the Group’s management believe that, based on the current budget and operating plan, the existing cash and cash equivalents and short-term deposits, are sufficient to meet the Group’s anticipated cash needs to finance capital expenditures and operating expenses dedicated to business expansion for at least the next twelve months. Although the Group management believes that the Group has sufficient cash and cash equivalents to cover the capital expenditures, operating expenses and working capital needs in the ordinary course of business and to continue to expand the Group’s business, the Group may, from time to time, explore additional financing sources. Therefore, the Group’s management believes that the Group will retain its ability to continue as a going concern in the foreseeable future. However, based on the Group’s history of operating losses, the expectation of continued operating loss in 2022, and the need to fund the operations and invest in development of the Group’s business with the liquidity accumulated by the Group, management have concluded there is a material uncertainty about the Company’s ability to continue as a going concern within one year from the date of these consolidated financial statements related to the outcome of the negotiations with the bondholders regarding the terms of the Bond restructuring. The Group’s consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty. Accordingly, the consolidated financial statements have been prepared on a basis that assumes the Group will continue as a going concern and which contemplates the realization of assets and satisfaction of liabilities and commitments in the ordinary course of business. 2.3 Basis of consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at December 31, 2021. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if, and only if, the Group has: • power over the investee; • exposure, or rights, to variable returns from its involvement with the investee; • the ability to use its power to affect its returns. The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Group gains control until the date the Group ceases to control the subsidiary. When necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with the Group’s accounting policies. All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation. If the Group loses control over a subsidiary, it derecognizes the related assets (including goodwill), liabilities, non-controlling interest and other components of equity, while any resultant gain or loss is recognized in profit or loss. Any investment retained is recognized at fair value. 2. 4 During 2021, the Group changed the presentation of line items in the consolidated statement of financial position to improve presentation: advances for non-current assets were included in the “Property, plant and equipment” line item; individually immaterial line items “Prepaid income tax”, “Advances and prepaid expenses”, and “Other current assets” in the statement of financial position were combined in one line “Other non-financial assets”. The prior year comparative information was adjusted to reflect the presentation adopted in 2021. 2. 5 The Group applied for the first-time certain standards and amendments, which are effective for annual periods beginning on or after January 1, 2021. The Group has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective. Interest Rate Benchmark Reform – Phase 2: Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 The amendments provide temporary reliefs which address the financial reporting effects when an interbank offered rate (IBOR) is replaced with an alternative nearly risk-free interest rate (RFR). The amendments include the following practical expedients: • A practical expedient to require contractual changes, or changes to cash flows that are directly required by the reform, to be treated as changes to a floating interest rate, equivalent to a movement in a market rate of interest; • Permit changes required by IBOR reform to be made to hedge designations and hedge documentation without the hedging relationship being discontinued; • Provide temporary relief to entities from having to meet the separately identifiable requirement when an RFR instrument is designated as a hedge of a risk component. These amendments had no impact on the consolidated financial statements of the Group as the Group does not have debt instruments with floating rates linked to the IBOR. Covid-19-Related Rent Concessions beyond 30 June 2021 Amendments to IFRS 16 On May 28, 2020, the IASB issued Covid-19-Related Leases Covid-19 Covid-19 Covid-19 The amendment was intended to apply until June 30, 2021, but as the impact of the Covid-19 However, the Group has not received Covid-19-related The Group has not early adopted any standards, interpretations or amendments that have been issued but are not yet effective. The Group intends to adopt these new and amended standards and interpretations, if applicable, when they become effective. The following amended standards and interpretations are not expected to have a significant impact on the Group’s consolidated financial statements: • IFRS 17 Insurance Contracts (effective date – January 1, 2023); • Amendments to IFRS 17(effective date – January 1, 2023); • Disclosure of Accounting Policies – Amendments to IAS 1 and IFRS Practice Statement 2 (effective date – January 1, 2023); • Definition of Accounting Estimate – Amendments to IAS 8 (effective date – January 1, 2023); • Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction – Amendments to IAS 12 Income taxes (effective date – January 1, 2023); • Sale or Contribution of Assets between an Investor and its Associate or Joint Venture – Amendments to IFRS 10 and IAS 28 (Effective date – optional); • Reference to the Conceptual Framework – Amendments to IFRS 3 (effective date – January 1, 2022); • Property, Plant and Equipment: Proceeds before Intended Use – Amendments to IAS 16 (effective date – January 1, 2022); • Onerous Contracts – Costs of Fulfilling a Contract – Amendments to IAS 37 (effective date – January 1, 2022); • IFRS 1 First-time Adoption of International Financial Reporting Standards – Subsidiary as a first-time adopter (effective date – January 1, 2022); • IFRS 9 Financial Instruments – Fees in the ’10 per cent’ test for derecognition of financial liabilities (effective date – January 1, 2022); • IAS 41 Agriculture – Taxation in fair value measurements (effective date – January 1, 2022); • IFRS 16 Leases, Illustrative Example 13(effective date – January 1, 2022). In January 2020, the International Accounting Standard Board (“IASB”) issued amendments to IAS 1 Presentation of Financial Statements to specify the requirements for classifying liabilities as current or non-current, effective for annual reporting periods beginning on or after January 1, 2023. The Company is currently evaluating the impact that amendments will have on the consolidated financial statements. 2. 6 a) Business combinations Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling The Group determines that it has acquired a business when the acquired set of activities and assets include an input and a substantive process that together significantly contribute to the ability to create outputs. The acquired process is considered substantive if it is critical to the ability to continue producing outputs, and the inputs acquired include an organised workforce with the necessary skills, knowledge, or experience to perform that process or it significantly contributes to the ability to continue producing outputs and is considered unique or scarce or cannot be replaced without significant cost, effort, or delay in the ability to continue producing outputs. The Group elects on a transaction-by-transaction b) Investments in associates An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. The Group’s investments in associates are accounted for using the equity method. Under the equity method, an investment in an associate is initially recognized in the consolidated statement of financial position at cost and adjusted thereafter to recognize the Group’s share of the profit or loss and other comprehensive income of the associate since the acquisition date. Dividends received or receivable from an associate reduce the carrying amount of the investments in associates. Goodwill relating to the associate is included in the carrying amount of the investment and is not tested for impairment separately. The consolidated statement of profit or loss and other comprehensive income reflects the Group’s share of the results of operations of the associate. When there has been a change recognized directly in the equity of the associate, the Group recognizes its share of any changes, when applicable, in the consolidated statement of changes in equity. Unrealized gains and losses resulting from transactions between the Group and the associate are eliminated to the extent of the interest in the associate. When the Group’s share of losses of an associate exceeds the Group’s interest in that associate, the Group discontinues recognizing its share of further losses. Additional losses are recognized only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the associate. After application of the equity method, the Group determines whether it is necessary to recognize an impairment loss on its investment in its associate. At each reporting date, the Group determines whether there is objective evidence that the investment in the associate is impaired. If there is such evidence, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value, and then recognizes the loss within “Share of profit / (loss) of an associate” in the consolidated statement of profit or loss and other comprehensive income. Upon loss of significant influence over the associate, the Group measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate upon loss of significant influence and the fair value of the retained investment and proceeds from disposal is recognized in profit or loss. c) Foreign currencies The Group’s consolidated financial statements are presented in Russian Rubles (“RUB”), which is also the parent company’s functional currency. For each entity, the Group determines the functional currency and items included in the financial statements of each entity are measured using that functional currency. The functional currency of Russian operating subsidiaries, which account for the significant majority of our operations, is the Russian ruble. The functional currency of the Group’s operating subsidiaries in Belarus and Kazahstan is their respective local currency. The Group determines the functional currency based on combination of factors and consider the primary economic environment in which these companies operate, and the related currency, in which they generate and expend its cash flows. Transactions in foreign currencies are initially recorded by the Group’s subsidiaries in their functional currency at exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into functional currency at exchange rates prevailing at the reporting date. Differences arising on settlement or translation of monetary items are recognized within “Foreign currency exchange gain / (loss), net”, in the consolidated statement of profit and loss and other comprehensive income. Non-monetary Non-monetary The RUB is not a fully convertible currency outside Russia. Within the Russian Federation, official exchange rates are determined by the Central Bank of the Russian Federation. d) Revenue from contracts with customers The Group evaluates whether it is appropriate to record the gross amount of product sales and related costs or the net amount earned as commissions based on a determination of whether it is a principal in providing a good or a service to a customer (a principal controls the goods or services before they are transferred to customers) or whether it is an agent of another entity. When the Group is primarily responsible for fulfilling the promise to provide the specified good or service, bears an inventory risk, has discretion in establishing prices, or has several but not all of these indicators, it is a principal in the arrangement and recognizes revenues on a gross basis. When the Group’s performance obligation is to arrange for the provision of the specified good or service by another party, revenues are recorded on a net basis. Revenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. i. Revenue from sales of goods The Group recognizes revenue from sales of goods on a gross basis as the Group controls goods before the goods are transferred to a customer. Payment for the purchased goods is generally made either before delivery or upon delivery. Revenue is recognized at the point in time when control of the promised goods is transferred to customers which generally occurs upon delivery to the customers. The Group recognizes revenue net of return allowances when the goods are delivered to customers. Delivery of goods to customers, who place their orders for goods online through the Group’s website and mobile app, is not separately identifiable from sales of goods, and the Group accounts for sales of goods and delivery services to its customers as a single performance obligation. ii. Right of return For certain categories of goods customers have a right to return these goods within a specified period. Return allowances, which reduce revenues from sales of goods, are estimated based on historical experiences. For goods that are expected to be returned from the customers, the Group recognizes a refund liability (included in Accrued expenses in the consolidated statement of financial position). The liability is measured at the amount the Group ultimately expects it will have to return to the customer. A right of return asset (included in Inventories in the consolidated statement of financial position) and corresponding adjustment to cost of sales are also recognized for the right to recover products from the customers. iii. Financing component in revenue arrangements The Group has a service (“Ozon Installment”) that allows customers to pay for goods in installments generally over a six-month iv. Loyalty program The Group has loyalty points programs (Ozon Points, Ozon Premium Points, Ozon Card, Ozon Rubles) which allow customers to accumulate points in connection with purchase of goods or services on the Group’s marketplace platform that can be redeemed against future purchases, subject to a certain threshold. The loyalty points give rise to a separate performance obligation as they provide a material right to the customer. A portion of the transaction price is allocated to the loyalty points awarded to customers based on a stand-alone selling price of points and recognized as deferred revenue (contract liability) in the consolidated statement of financial position. Deferred revenue is recognized as revenue when loyalty points are redeemed, expire or the likelihood of the customer redeeming the points becomes remote. When estimating the stand-alone selling price of the loyalty points, the Group considers the likelihood that the customer will redeem the points. The Group updates its estimates of the points that will be redeemed on a quarterly basis and any adjustments to the deferred revenue balance are charged against revenue. Generally, the deferred revenue related to loyalty programs is recognized within one year after the reporting date. v. Gift certificates The Group sells gift certificates which can be redeemed to purchase products sold on the Group’s website ozon.ru or mobile app. The cash collected from the sales of gift certificates is initially recorded as deferred revenue (contract liability) in the consolidated statement of financial position and subsequently recognized as revenue upon the sales of the respective products through redemption of gift certificates. Revenue from redeemed gift certificates is included in Revenue from sales of goods (note 4). Revenue from unredeemed gift certificates is recognized over the expected customer redemption period (usually 12 months) and included in service revenue. vi. Premium subscription In 2019, the Group launched an Ozon Premium program (“Ozon Premium”), a subscription-based service which provides customers with free delivery, additional discounts and other benefits. The cash collected from the sales of Ozon Premium is initially recorded as deferred revenue (contract liability) in the consolidated statement of financial position and subsequently recognized as revenues over the subscription period (1, 6 or 12 months). Revenue from Ozon Premium is included in service revenue. vii. Marketplace commission The Group offers a marketplace platform that enables sellers to sell their products through the Group’s website and use the Group’s logistics infrastructure to deliver products to the end-customer. end-customer Revenue from additional services to sellers such as product utilization charges, additional fulfillment and logistics services, charges for convenient payment options are recognized upon fulfillment of the respective performance obligations which generally matches the invoicing pattern. viii. Advertising revenue The Group’s advertising services allow customers to place advertisements in particular areas of the Group’s websites at fixed or variable prices (cost per click or cost per view). Advertising revenue is recognized evenly over the period in which the advertisement is displayed or based on the number of views or clicks, when the advertisement has been displayed. Payment is generally due within 30 to 60 days from providing advertising services. ix. Travel services Revenue from travel services consists of commission fees and ticketing fees charged from the travel supplier and/or traveler for the sale of airline and railway tickets, and hotel bookings through the Group’s website and app. The Group acts as the agent in these transactions, passing reservations booked by the traveler to the relevant travel provider. Commission fees and ticketing fees are recognized upon booking of airline and railway transactions or hotel reservations as the Group has no significant post-delivery obligations. e) Leases Right-of-use The Group recognizes right-of-use Right-of-use right-of-use Fulfillment and sorting centers 3-10 Office premises 2-7 Pick-up 3 Vehicles 3-4 Right-of use assets are also subject to impairment. Refer to the accounting policies in section 2.5 (p) Impairment of long-lived assets. Lease liabilities At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating a lease, if the lease term reflects the Group exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expense in the period on which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Group uses the incremental borrowing rate (IBR) at the lease commencement date if the interest rate implicit in the lease is not readily determinable. The IBR is the rate of interest that the Group would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a contract modification, including a change in the lease term, a change in the in-substance Leases of low-value The Group applies the lease of low-value low-value Sale and leaseback transactions In a sale and leaseback transaction, an entity (seller-lessee) sells an asset to another entity (buyer-lessor) who then leases it back to the seller-lessee. The Group applies the requirements of IFRS15, Revenue from Contracts with Customers If the transfer of an asset by the seller-lessee does not satisfy the requirements of IFRS 15, Revenue from Contracts with Customers Financial Instruments Security deposits At the commencement of a lease, the Group may be required to pay a security deposit to the lessor. As long as the deposit is a true deposit and not a prepaid lease payment, the deposit gives the lessee a right to receive the money back in cash from the lessor and is, therefore, a financial asset for the lessee and a financial liability for the lessor and is within the scope of IFRS 9 , Financial Instruments When the deposit earns interest below the market rate, the excess of the principal amount of the deposit over its fair value is accounted as a prepaid lease payment. The Group includes this amount in the cost of its right-of-use Interest on the deposit is accounted for using the effective interest method. Presentation in the consolidated statement of cash flows The Group classifies cash payments for the principal portion of lease liabilities within financing activities and cash payments for the interest portion of the lease liabilities within operating activities. f) Cost of sales Cost of sales consists of purchase price of consumer products, net of vendor’s rebates and subsidies, write-downs and losses of inventories, cost of travel services and costs of obtaining and fulfilling contracts with third-party sellers on the marketplace platform. Rebates and subsidies The Group periodically receives considerations from certain vendors, representing rebates for products sold and subsidies for the sales of the vendors’ products over a period of time. Vendor rebates typically depend on reaching minimum sales or purchase thresholds for a specified period, or on selling goods at a targeted discount (subsidized by vendor). The rebates are not sufficiently separable from the Group’s purchase of the vendors’ products and they do not represent a reimbursement of costs incurred by the Group to sell vendors’ products. The Group accounts for the rebates received from its vendors as a reduction to price of purchased goods and therefore the Group records such amounts as a reduction of cost of sales when such sales occur. When volume rebates can be reasonably estimated based on the Group’s past experiences, a portion of the rebates is recognized as the Group makes progress towards the target threshold. Subsidies are calculated based on the volume of products sold through the Group and are recorded as a reduction of cost of sales when the sales have been completed and the amount is determinable. g) Fulfillment and delivery expenses Fulfillment and delivery expenses consist of outbound shipping costs, packaging material costs, costs incurred in operating the Group’s fulfillment centers, sorting centers, customer service centers, pickup points, expenses related to payment processing, costs associated with use by these functions of facilities and equipment, such as depreciation expenses, as well as write-offs and losses of sellers’ inventory and other related costs. Fulfillment and delivery expenses also include amounts paid to employees and third parties that assist the Group in fulfillment, sorting, delivery and customer service operations. Fulfillment and delivery costs are expensed as incurred. h) Sales and marketing expenses Sales and marketing and commercial expenses consist primarily of advertising costs and related employee costs. The Group pays commissions to participants in the affiliates program when their customer referrals result in successful product sales and records such costs in sales and marketing expenses. Sales and marketing costs are expensed as incurred. i) Technology and content expenses Technology and content expenses include payroll and related expenses for employees involved in the research and development of new and existing products and services, development, design, and maintenance of the Group’s websites and mobile apps, and technology infrastructure costs. Technology and content expenses are expensed as incurred. j) General and administrative expenses General and administrative expenses consist of payroll and related expenses for employees involved in general corporate functions, including general and administrative expenses related to operation of marketplace platform. These expenses include payroll of accounting, finance, tax, legal and human relations functions; costs associated with use by these functions of facilities and equipment, such as depreciation expenses, rental and other general corporate related expenses. General and administrative costs are expensed as incurred. k) Share-based awards All of the Group’s share-based awards are equity-settled. Certain employees of the Group receive remuneration in the form of share-based compensation, whereby employees render services as consideration for equity instruments. The Group issues equity-settled share-based awards, including share options, share appreciation rights and restricted share units, and accounts for these awards in accordance with IFRS 2, Share-based payment . The cost of equity-settled share-based awards is measured at fair value (excluding the effect of non-market-based vesting conditions) at the date of grant. That cost is recognized as an employee benefits expense, together with a corresponding increase in equity (equity-settled employee benefits reserves), over the period in which the service and, where applicable, the performance conditions are fulfilled (the vesting period). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group’s best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the consolidated statement of profit or loss and other comprehensive income for a period represents the movement in cumulative expense recognized as at the beginning and end of that period. Market-based performance criteria are taken into account when determining the fair value at the date of grant. Non-market based performance criteria are taken into account when estimating the number of share-based awards expected to vest. Any other conditions attached to an award, but without an associated service requirement, are considered to be non-vesting conditions. Non-vesting conditions are reflected in the fair value of an award and lead to an immediate expensing of an award unless there are also service and/or performance conditions. No expense is recognized for awards that do not ultimately vest because non-market performance and/or service conditions have not been met. Where awards include a market or non-vesting condition, the transactions are treated as vested irrespective of whether the market or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied. When the terms of an equity-settled award are modified to the employee’s benefit, the Company continues to recognize the grant date fair value of the award over the original vesting term. Further, from the modification date through the modified vesting date, the Company recognizes an additional expense for any modification that increases the total fair value of the share-based compensation transaction, or is otherwise beneficial to th |
Significant Accounting Judgment
Significant Accounting Judgments, Estimates And Assumptions | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Significant Accounting Judgments, Estimates And Assumptions | 3. SIGNIFICANT ACCOUNTING JUDGMENTS, ESTIMATES AND ASSUMPTIONS The preparation of the Group’s consolidated financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the carrying amount of assets or liabilities affected in future periods. Judgements In the process of applying the Group’s accounting policies, management has made the following judgements, which have the most significant effect on the amounts recognized in the consolidated financial statements . Deferred tax assets Deferred tax assets are recognized for unused tax losses to the extent that it is probable that in the foreseeable future the Group will have taxable profits against which tax losses can be utilized. Significant management judgement is required to determine whether the Group has convincing evidence of probable future taxable profit. Further details on income taxes are disclosed in note 12. Estimates and assumptions The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Group based its assumptions and estimates on parameters available when the consolidated financial statements were prepared. Existing circumstances and assumptions about future developments, however, may change due to market changes or circumstances arising that are beyond the control of the Group. Such changes are reflected in the assumptions when they occur. Inventory valuation Inventory is valued at the lower of cost or net realisable value. Net realisable value represents the estimated selling price less estimated costs necessary to make the sale. While estimating the costs necessary to make the sale, the Group takes into consideration the costs that are incremental and those costs that it must incur to sell its inventories but are not incremental to a particular sale. Adjustments are recorded to write down the cost of inventory (including slow-moving merchandise and damaged goods) to the estimated net realisable value based on assumptions about the write-down percentage that is applicable to various aging groups of goods. In determining the allowance percentages on inventories, the Group considers the historical demand for inventories, expected selling prices and estimated costs necessary to make the sale. The valuation allowance for inventory represents the difference between cost of inventory and its estimated net realisable value. The changes in estimates may impact the amount of allowance for inventory that may be required. Further details about inventory valuation allowance are provided in note 18. Leases As most of the Group’s lease agreements do not provide an implicit rate of return, the Group uses its incremental borrowing rate based on the information available at the lease commencement date to determine the present value of lease payments. The Group’s incremental borrowing rate is determined based on estimates and judgments with respect to a rate of finance available to the Group and adjustments necessary to align the rate with the term, security, currency and other specific features and circumstances of the lease. The Group determines the lease term as the non-cancellable |
Revenue From Contracts With Cus
Revenue From Contracts With Customers | 12 Months Ended |
Dec. 31, 2021 | |
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Revenue From Contracts With Customers | 4. REVENUE FROM CONTRACTS WITH CUSTOMERS 4.1 Disaggregated revenue information Set out below is the disaggregation of the Group’s revenue from contracts with customers by type and timing of revenue recognition: For the year ended December 31, 2021 At a point in Over time Total revenue Sales of goods 120,792 — 120,792 Service revenue: Marketplace commissions 44,345 — 44,345 Delivery services 2,219 531 2,750 Advertising revenue — 9,322 9,322 Travel commissions 316 113 429 Other revenue 577 — 577 Total service revenue 47,457 9,966 57,423 Total revenue 168,249 9,966 178,215 For the year ended December 31, 2020 At a point in Over time Total revenue Sales of goods 81,414 — 81,414 Service revenue: Marketplace commissions 16,503 — 16,503 Delivery services 1,481 280 1,761 Advertising revenue — 3,965 3,965 Travel commissions 425 20 445 Other revenue 262 — 262 Total service revenue 18,671 4,265 22,936 Total revenue 100,085 4,265 104,350 For the year ended December 31, 2019 At a point in Over time Total revenue Sales of goods 53,487 — 53,487 Service revenue: Marketplace commissions 2,132 — 2,132 Delivery services 1,574 184 1,758 Advertising revenue — 1,421 1,421 Travel commissions 950 237 1,187 Other revenue 119 — 119 Total service revenue 4,775 1,842 6,617 Total revenue 58,262 1,842 60,104 4.2 Contract balances The following table provides information about the Group’s accounts receivable and contract liabilities from contracts with customers: 2021 2020 Accounts receivable (included in the total accounts receivable in note 19) 3,379 1,550 Contract liabilities (note 26) (9,923 ) (5,231 ) Contract liabilities include customer advances, unredeemed gift certificates, deferred revenue of Ozon Premium, incentive fees from the depository and loyalty points not yet redeemed. The outstanding balances of contract liabilities increased in 2021 due to the continuing increase in the Group’s customer base. 4.3 Right of return assets and refund liabilities The following table provides information about the Group’s right of return assets and refund liabilities from contracts with customers: 2021 2020 Right of return assets (note 18) 417 231 Refund liability arising from right of return (note 25) (462 ) (231 ) |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Segment Information | 5. SEGMENT INFORMATION For management purposes, the business of the Group is organized into Ozon.ru, the Group’s primary core e-commerce These business units are managed separately and the results of their operations are reviewed by the chief operating decision maker (CODM) on a regular basis for the purpose of making decisions about resource allocation and performance assessment. Ozon.ru represents over 99%, 99% and 98% of the Group’s revenue for the years ended December 31, 2021, 2020 and 2019, respectively, therefore, the Group presents Ozon.ru as the only reportable segment, as this reflects the consolidated view of operating segments noted above. The Group uses Adjusted EBITDA to assess results of operations of its segments. The Adjusted EBITDA is calculated as loss for the period before income tax expense / (benefit), total non-operating 2021 2020 2019 Loss for the period (56,779 ) (22,264 ) (19,363 ) Income tax expense /(benefit) 2 230 (216 ) Total non-operating (2,079 ) 4,711 967 Depreciation and amortization 9,880 4,963 2,590 Share-based compensation expense 7,820 644 190 Adjusted EBITDA (41,156 ) (11,716 ) (15,832 ) |
Fulfillment And Delivery Expens
Fulfillment And Delivery Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Fulfillment And Delivery Expenses | 6. FULFILLMENT AND DELIVERY EXPENSES 2021 2020 2019 Employee-related cost 17,810 8,417 6,029 Outsourcing services 13,709 5,103 1,889 Delivery fees 12,946 3,909 1,783 Transportation services and vehicle maintenance 9,183 3,367 2,097 Fees for cash collection 7,681 2,795 1,447 Depreciation and amortization 7,273 3,690 1,643 Premises maintenance and packaging costs 4,508 1,589 1,032 Share-based compensation expense 635 53 19 Other fulfillment and delivery expenses 2,495 1,753 869 76,240 30,676 16,808 |
Sales And Marketing Expenses
Sales And Marketing Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Sales And Marketing Expenses | 7. SALES AND MARKETING EXPENSES 2021 2020 2019 Online marketing 9,578 5,447 4,553 Media and PR 6,386 1,502 1,146 Employee-related cost 5,210 2,265 1,178 Share-based compensation expense 1,013 81 14 Outsourcing services 801 115 — Cost of arranging flexible payment options for customers 753 45 — Other sales and marketing expenses 954 560 262 24,695 10,015 7,153 |
Technology And Content Expenses
Technology And Content Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Technology And Content Expenses | 8. TECHNOLOGY AND CONTENT EXPENSES 2021 2020 2019 Employee-related cost 7,238 3,490 2,956 Share-based compensation expense 2,245 152 16 IT and telecommunication services 1,235 615 446 Acquisition of in-progress 370 — — Other technology and content expenses 334 137 102 11,422 4,394 3,520 |
General And Administrative Expe
General And Administrative Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
General And Administrative Expenses | 9. GENERAL AND ADMINISTRATIVE EXPENSES 2021 2020 2019 Share-based compensation expense 3,927 358 141 Employee-related cost 3,686 1,600 924 Depreciation and amortization 2,607 1,273 947 Professional services 681 212 35 Insurance 286 — — Other general and administrative expenses 979 286 343 12,166 3,729 2,390 |
Investment In Associate
Investment In Associate | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Investment In Associate | 10. INVESTMENT IN ASSOCIATE The Group has a 42.27% interest in Litres Holdings Limited (together with its subsidiaries “Litres”), which is incorporated and domiciled in Cyprus. Litres is a leading distributor of e-books The following table summarizes the financial information of Litres as included in its own consolidated financial statements, adjusted for fair value adjustments at acquisition (disclosed below separately) and differences in accounting policies. The table also reconciles the summarized financial information to the carrying amount of the Group’s interest in Litres. December 31, December 31, Current assets 1,141 805 Non-current 550 360 Current liabilities (1,072 ) (951 ) Non-current (108 ) (2 ) Net assets of the associate 511 212 Group’s share of net assets – 42.27% (2020: 42.27%) 217 90 Goodwill 964 964 Fair value adjustments (including the effect of the subsequent accounting) 57 57 Group’s carrying amount of the investment 1,238 1,111 2021 2020 2019 Revenue 6,742 5,077 3,823 Profit for the year 507 278 168 Total comprehensive income 507 278 168 The Group’s share of profit before fair value adjustments 214 118 71 Amortization of assets based on their fair values at acquisition (17 ) (6 ) (17 ) The Group’s share of total comprehensive income 197 112 54 The movement of the investment in Litres is presented below: December 31, December 31, Carrying amount of the investment at the beginning of the year 1,111 1,139 Share of total comprehensive income 197 112 Dividends received / receivable (70 ) (140 ) Carrying amount of the investment at the end of the year 1,238 1,111 The associate had no contingent liabilities or capital commitments as at December 31, 2021 and 2020. |
Other Non-Operating Expenses
Other Non-Operating Expenses | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Other Non-Operating Expenses | 11. OTHER NON-OPERATING In November 2020, the Company and Sberbank of Russia PJSC (“Sberbank”) reached an agreement relating to an alleged breach of an exclusivity undertaking contained in the term sheet that had been entered into between the Company, its principal shareholders and Sberbank in June 2020. The agreement resolved all disputes and waived any claims against each other relating to the term sheet and confirmed absence of any known non-contractual consolidated statement of cash flows). |
Income Tax
Income Tax | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Income Tax | 12. INCOME TAX The major components of income tax expense / benefit for the years ended December 31, 2021, 2020 and 2019 are: 2021 2020 2019 Current income tax expense (58 ) (111 ) (9 ) Deferred tax (expense) / benefit 56 (119 ) 188 Tax provision — — 37 Income tax (expense) / benefit for the year (2 ) (230 ) 216 The major part of the Group’s pre-tax losses and income tax expenses / benefits is generated in Russia. Pre-tax gains or losses of the Group’s companies in Cyprus mainly relate to revaluation of financial instruments, interest expense and foreign exchange gains and losses and other items which are generally non-taxable (non-deductible) in that jurisdiction. These items affect pre-tax loss but do not have any impact on income tax expense / benefit. Below is a reconciliation of theoretical income tax based on the Russian statutory income tax rate of 20% to the actual tax recorded in the consolidated statement of profit or loss and other comprehensive income: 2021 2020 2019 Loss before income tax (56,777 ) (22,034 ) (19,579 ) Income tax benefit calculated at Russia’s statutory tax rate (20%) 11,355 4,407 3,915 Effect of unrecognized deferred tax assets (10,227 ) (3,669 ) (3,463 ) Effect of non-deductible (827 ) (438 ) (234 ) Effect of accrued tax provision — — 37 Effect of foreign exchange gain/(loss) that is exempt from taxation 58 (255 ) (39 ) Effect of tax rates in foreign jurisdiction (361 ) (275 ) — Income tax (expense) / benefit for the year (2 ) (230 ) 216 Deferred tax assets have not been recognized in respect of tax losses and other deductible temporary differences in the cumulative amounts of 88,289 and 11,894, respectively, as at December 31, 2021, and tax losses in the amount of 43,700 and 2,430 as at December 31, 2020. The tax losses in amount of 87,738 do not expire, whereas tax losses of 7 expires within 1 year, 10 within 2 years, 123 within 3 years, 2 within 4 years and 409 within 5 years. Deferred tax assets have not been recognized in respect of tax losses and other deductible temporary differences, because it is not probable that sufficient taxable profit will be available in the foreseeable future against which the Group will be able to utilize the respective benefits. |
Loss Per Share
Loss Per Share | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Loss Per Share | 13. LOSS PER SHARE Basic loss per share is calculated by dividing the loss for the year attributable to ordinary equity holders of the parent by the weighted average number of ordinary shares outstanding during the year. Diluted loss per share is calculated by dividing the loss attributable to ordinary equity holders of the parent (after adjusting for the effect of dilution) by the weighted average number of ordinary shares outstanding after adjustments for the effects of all dilutive potential ordinary shares. At December 31, 2021, 2020 and 2019, outstanding share-based awards and a convertible debt instruments recognized as a financial liability were excluded from the diluted weighted average number of ordinary shares calculation because their effect would have been antidilutive. The following table reflects the loss and share data used in the basic and diluted loss per share calculations: 2021 2020 2019 Loss attributable to the parent entity (56,779 ) (22,264 ) (19,363 ) Effects of the settlement of preference shares classified as equity — 33 15 Loss attributable to ordinary equity holders of the parent entity (56,779 ) (22,231 ) (19,348 ) Weighted average number of ordinary shares 205,619,832 164,605,952 128,597,975 Basic and diluted loss per share (RUB) (276.1 ) (135.1 ) (150.4 ) |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Property, Plant and Equipment | 14. PROPERTY, PLANT AND EQUIPMENT Land Buildings Warehouse Computer Construction in-progress Total Cost Balance at January 1, 2020 80 1,823 4,136 2,928 1,325 10,292 Additions — — — — 6,669 6,669 Transfer — — 4,254 2,244 (6,498 ) — Disposals — — (93 ) (193 ) — (286 ) Balance at December 31, 2020 80 1,823 8,297 4,979 1,496 16,675 Additions 888 1,176 — — 18,198 20,262 Transfer — — 5,129 6,919 (12,048 ) — Disposals — — (218 ) (302 ) — (520 ) Translation difference — — — 1 — 1 Balance at December 31, 2021 968 2,999 13,208 11,597 7,646 36,418 Accumulated depreciation Balance at January 1, 2020 — (173 ) (947 ) (913 ) — (2,033 ) Charge for the year — (40 ) (780 ) (1,029 ) — (1,849 ) Disposals — — 80 130 — 210 Balance at December 31, 2020 — (213 ) (1,647 ) (1,812 ) — (3,672 ) Charge for the year — (40 ) (1,460 ) (1,698 ) — (3,198 ) Disposals — — 190 232 — 422 Translation difference — — — — — — Balance at December 31, 2021 — (253 ) (2,917 ) (3,278 ) — (6,448 ) Carrying amounts Balance at December 31, 2020 80 1,610 6,650 3,167 1,496 13,003 Balance at December 31, 2021 968 2,746 10,291 8,319 7,646 29,970 As at December 31, 2021, the Group pledged part of its property, plant and equipment with a carrying amount of 240 (December 31, 2020: 297) in order to fulfil the collateral requirements for certain Group’s borrowings (note 2 3 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Presentation of leases for lessee [abstract] | |
Leases | 15. LEASES Set out below, are the carrying amounts of the Group’s right-of-use Right-of-use Fulfillment Office Pick-up Vehicles Total Lease As at January 1, 2020 3,689 3,760 1,084 736 9,269 9,609 Additions 5,931 435 1,503 574 8,443 8,275 Remeasurement / modification 145 — (2 ) — 143 143 Change in use of leased premises 518 (518 ) — — — — Disposals (25 ) (6 ) (232 ) — (263 ) (275 ) Forgiveness of lease payments — — — — — (21 ) Depreciation expense (1,320 ) (647 ) (682 ) (364 ) (3,013 ) — Interest expense — — — — — 1,299 Payments — — — — — (3,540 ) As at December 31, 2020 8,938 3,024 1,671 946 14,579 15,490 Additions 15,935 2,845 150 1,719 20,649 20,440 Remeasurement / modification * 9,379 2,190 110 (12 ) 11,667 11,490 Disposals (126 ) (80 ) (259 ) — (465 ) (508 ) Depreciation expense (3,679 ) (1,508 ) (730 ) (571 ) (6,488 ) — Interest expense — — — — — 2,856 Payments — — — — — (7,297 ) Translation difference (2 ) — — — (2 ) (4 ) As at December 31, 2021 30,445 6,471 942 2,082 39,940 42,467 * i ncluding new facilities within the existing lease contracts The Group recognized variable lease payments of 402 for the year ended December 31, 2021 (2020: 169). Lease commitments The Group entered into lease contracts for offices, fulfillment and sorting centers that have not yet commenced as at December 31, 2021. The lease terms are from 9 months to 14 years. The future undiscounted lease payments for these lease contracts are as follows: Within 1 year 1 to 3 years 3 to 5 years > 5 years Total December 31, 2021 4,611 19,176 18,273 45,311 87,371 December 31, 2020 848 6,175 6,730 5,368 19,121 The Group had security deposits related to lease agreements which amounted to 2,101 and 746 as at December 31, 2021 and December 31, 2020, respectively. |
Intangible Assets
Intangible Assets | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Intangible Assets | 16. INTANGIBLE ASSETS Set out below, are the carrying amounts of the Group’s intangible assets and the movements during the period: Intangible Intangible assets with Total Cost Balance at January 1, 2020 — 414 414 Additions — 289 289 Disposals — (157 ) (157 ) Balance at December 31, 2020 — 546 546 Additions 233 823 1,056 Disposals — (145 ) (145 ) Translation difference — 1 1 Balance at December 31, 2021 233 1,225 1,458 Accumulated amortisation Balance at January 1, 2020 — (285 ) (285 ) Charge for the year — (101 ) (101 ) Disposals — 157 157 Balance at December 31, 2020 — (229 ) (229 ) Charge for the year — (194 ) (194 ) Disposals — 136 136 Translation difference — — — Balance at December 31, 2021 — (287 ) (287 ) Carrying amounts Balance at December 31, 2020 — 317 317 Balance at December 31, 2021 233 938 1,171 Intangible assets with indefinite useful life refers to a bank license acquired in May 2021 (note 17), which does not have an expiration date. |
Acquisition of Group of Assets
Acquisition of Group of Assets | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Acquisition of Group of Assets | 17. ACQUISITION OF GROUP OF ASSETS In May 2021, the Group completed an acquisition of 100% participation interest in Oney Bank LLC. The purpose of the acquisition is to equip the Group with the necessary license to enhance the Group’s own financial services offering. The total cash consideration for the transaction amounted to 615. The Group concluded that the acquired set of activities and assets does not constitute a business as substantial fair value of the gross assets acquired is concentrated in a single intangible asset. As a result, the Group reflected this deal as an asset acquisition. On the date of acquisition, the Group recognized the individual identifiable assets acquired and liabilities assumed and allocated 233 to the license intangible assets with indefinite useful life, 375 to cash and cash equivalents, and 7 to non-financial |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Inventories | 18. INVENTORIES December 31, December 31, Merchandise held for resale and in transit 27,106 15,977 Right of return assets 417 231 Other inventories 752 216 Inventory valuation allowance (1,913 ) (1,082 ) 26,362 15,342 In 2021, inventories of 116,900 (20 20 e In 2021, inventories were reduced by 831 (2020: 173) as a result of the write-down to net realizable value. In addition, losses of inventories amounted to 2,486 (2020: 309). The write-downs and losses of inventories were recognized as an expense during the period and included in cost of sales. |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Dec. 31, 2021 | |
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Accounts Receivable | 19. ACCOUNTS RECEIVABLE December 31, December 31, Accounts receivable 6,639 3,451 Allowance for expected credit losses and impaired receivables (28 ) (46 ) 6,611 3,405 Set out below is the movement in the allowance for expected credit losses of accounts receivable: 2021 2020 Balance at the beginning of the year (46 ) (83 ) Allowance for expected credit losses (68 ) (20 ) Amounts written off during the year as uncollectable 86 57 Balance at the end of the year (28 ) (46 ) Information about the Group’s exposure to credit and market risks is presented in note 29. |
Other Financial And Non Financi
Other Financial And Non Financial Assets | 12 Months Ended |
Dec. 31, 2021 | |
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Other Financial And Non Financial Assets | 20. OTHER FINANCIAL AND NON-FINANCIAL December 31, December 31, Other financial assets: Security deposits 2,101 746 Loans 286 — Other financial assets 2,387 746 Out of which: Non-current 2,312 746 Current 75 — Other non-financial Prepaid expenses 3,258 1,252 Prepaid employee benefits 730 89 Tax prepayment 42 14 Claims 118 74 Other non-financial 4,148 1,429 Out of which: Non-current 41 — Current 4,107 1,429 |
Cash ,Cash Equivalents and Sho
Cash ,Cash Equivalents and Short-Term Bank Deposits | 12 Months Ended |
Dec. 31, 2021 | |
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Cash ,Cash Equivalents and Short-Term Bank Deposits | 21. CASH, CASH EQUIVALENTS AND SHORT-TERM BANK DEPOSITS December 31, December 31, Short-term deposits 86,718 59,331 Current bank accounts 18,485 43,749 Cash in transit 2,803 606 Petty cash 31 16 Cash and cash equivalents 108,037 103,702 Short-term bank deposits with maturity exceeding 3 months 17,954 22 Cash, cash equivalents and short-term bank deposits 125,991 103,724 Short-term deposits are made for varying periods of between one day and three months, depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates. Information about the credit risk over cash and cash equivalents is presented in note 29. Bank deposits with maturity exceeding 3 months at the date of initial recognition are presented separately from cash equivalents. |
Share Capital, Share Premium An
Share Capital, Share Premium And Other Capital Reserves | 12 Months Ended |
Dec. 31, 2021 | |
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Share Capital, Share Premium And Other Capital Reserves | 22. SHARE CAPITAL, SHARE PREMIUM AND OTHER CAPITAL RESERVES Share capital and share premium Quantity Millions of Russian Rubles Ordinary shares Preference Treasury Shares Share capital Share Treasury At December 31, 2019 137,472,875 134,575 — 137,607,450 6 32,053 — Issue of shares in the IPO 37,950,000 — — 37,950,000 3 85,899 — Issue of shares in the private placement 4,500,000 — — 4,500,000 — 10,186 — Issue of shares in conversion of loans 23,484,183 — — 23,484,183 2 11,088 — Issue of shares upon exercise of share-based awards — 188,325 — 188,325 — 33 — Conversion of preference shares 322,900 (322,900 ) — — — — — Issue of Class A shares 2 — — 2 — — — Transaction costs — — — — — (5,820 ) — At December 31, 2020 203,729,960 — — 203,729,960 11 133,439 — Issue of shares upon exercise of share-based awards 483,775 — — 483,775 — 9 — Issue of shares to employee-benefit trust 12,200,000 — (12,200,0 0 ) — 1 — (1 ) Release of shares from trust (note 27) — — 4,108,368 4,108,368 — 1,476 — At December 31, 2021 216,413,735 — (8,091,632 ) 208,322,103 12 134,924 (1 ) Capital reorganization and IPO In October 2020, pursuant to a special resolution at a general meeting of shareholders, the Company • converted all issued redeemable preference shares into ordinary shares and eliminated redeemable preference shares as a separate class of shares; and • made a 25-for-1 per-share • increased the authorized share capital by the creation of additional 374,999,998 ordinary shares of USD 0.001 each and two class A shares of USD 0.001 each up to 559,999,998 ordinary shares and two class A shares and issued one class A share to each of its major shareholders, Sistema PJSFC and Baring Vostok. Each class A share confers the right to appoint and remove two directors so long as such class A shareholder holds at least 15% of voting power of the ordinary shares or one director so long as such class A shareholder holds less than 15% but at least 7.5% of voting power of the ordinary shares and each ordinary share has the right to one vote at a meeting of shareholders. Class A shareholders entitled to the same economic rights as holders of ordinary shares. Authorised Issued and fully paid December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Ordinary shares of USD 0.001 each 559,999,998 559,999,998 216,413,733 203,729,958 Class A shares of USD 0.001 each 2 2 2 2 560,000,000 560,000,000 216,413,735 203,729,960 On November 27, 2020, the Group issued an aggregate of 37,950,000 ordinary shares, represented by the ADSs, in the IPO on Nasdaq. In addition, the Group issued 4,500,000 ordinary shares to the existing shareholders, Sistema PJSFC and Baring Vostok, in concurrent private placements. The Group received 90,480 in net proceeds from the IPO and the concurrent private placement after deducting underwriting commissions and other transaction costs. The Group incurred 5,820 of total expenses (transaction costs) in connection with the IPO, which included 5,512 of underwriting commissions (withheld by underwriters from the proceeds) and 308 of other transaction costs directly related to the offering. Treasury shares In April 2021, the Company entered into a trust deed with a trustee for operation of the Company’s equity incentive plans (the “EIPs”). The trust holds ordinary shares or ADSs of the Company to be distributed under share-based awards (the “SBAs”) granted to and exercisable by directors, officers and employees and deliver the shares or other securities exercisable under the EIPs to such participants upon exercise. The Company neither owns shares nor has voting rights in the trust. However, the Company established the trust and may appoint or substitute a trustee. Thus, the Company considered that it controls the trust through a contractual arrangement. During 2021, the Company issued 12,200,000 ordinary shares represented by ADSs for the total amount of 1 to the trust. Other capital reserves Convertible Currency Total Balance at January 1, 2020 1,043 — 1,043 Convertible loan (1,043 ) — (1,043 ) Balance at December 31, 2020 — — — Other comprehensive income — (3 ) (3 ) Balance at December 31, 2021 — (3 ) (3 ) From January to April 2020, the Group received 6,196 under the convertible loan agreements with its existing shareholders. In October-November 2020, the Group converted these loans (together with 1,043 of the loans not converted as at December 31, 2019) into 15,086,709 ordinary shares of the Company. In December 2020, the Group converted the loan of 3,594 from a third party (Note 23) into 8,397,474 ordinary shares of the Company. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2021 | |
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Borrowings | 23. BORROWINGS Effective (2021 /2020) December 31, December 31, Currency Maturity (2021 /2020) Amount, incl. Amount, incl. Convertible bonds 5.1 % USD 2026 49,403 — Bank loans 10.0%/15.0 % RUB 2022/2021 9,954 6,639 Equipment financing 9.4%/9.8 % RUB 2022-2030/2021-2030 2,759 2,809 Total 62,116 9,448 Current 11,539 7,125 Non-current 50,577 2,323 Convertible bonds In February 2021, the Company completed an offering of USD 750 million in aggregate principal amount of 1.875% senior unsecured convertible bonds due 2026 at par (the “Bonds”). The Bonds were offered in reliance on Regulation S under the Securities Act through a private placement to institutional investors that are not U.S. persons, outside the United States. Total proceeds from the Bonds amounted to 54,499 net of 988 issue costs. Interest is payable semi-annually in arrears in each year, with the first payment beginning on August 24, 2021. The Bonds are convertible into cash, ordinary shares of the Company, represented by the ADSs, or a combination of cash and the ADSs, at the Group’s discretion, based on the conversion price set at USD 86.6480. At the initial recognition, the conversion feature of the convertible bonds (the “conversion options”) with the fair value of 6,958 was classified as financial liability and measured at fair value through profit and loss, while the host liability (the “debt component”) was accounted for at amortized cost using market interest rate of 5.1% per annum. As at December 31, 2021, the fair value of the conversion options was 594 and was determined based on the quoted market price (level 2 of the fair value hierarchy) and included in non-current Convertible loan In December 2020, the Group converted the loan of 3,594 from a third party into 8,397,474 ordinary shares of the Company (Note 22). Bank loans In August 2021, the Group received 9,900 in cash net of a one-off one-year In March 2020, the Group received 6,000 in cash under a one-year Equipment financing During 2020-2021, the Group (“the seller-lessee”) entered into a series of sale and leaseback transactions over warehouse equipment and fulfillment center building with third parties (“the buyers-lessors”). The Group has determined that these sale and leaseback transactions do not meet the requirements of IFRS 15, Revenue from Contracts with Customers During 2020, the Group entered into sale and leaseback transactions relating to fulfillment center building with the total value of financial liability of 1,950 at inception date. During 2021, the Group entered into sale and leaseback transactions relating to warehouse equipment with the total value of financial liability of 471 at inception date. The Group pledged part of its property, plant and equipment to fulfil collateral requirements under a sale and leaseback transaction. Refer to note 14 for details. |
Trade and Other Payables
Trade and Other Payables | 12 Months Ended |
Dec. 31, 2021 | |
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Trade and Other Payables | 24. TRADE AND OTHER PAYABLES December 31, December 31, Trade payables 59,417 32,437 Payables to third-party sellers on the marketplace platform 22,215 9,437 Payables under reverse factoring arrangements 6,874 223 Payroll payables, including related taxes 1,100 372 Other payables 185 154 Total 89,791 42,623 Current 89,273 42,545 Non-current 518 78 The average credit period on domestic purchases of certain goods is 1—4 months. No interest is charged on the trade payables from the invoice received. Information about the Group’s exposure to currency and liquidity risk in relation to its trade and other payables is included in note 29. The Group participates in reverse factoring arrangements under which its suppliers may elect to receive early payment of their invoice from a bank by factoring their receivable from the Group. Under the arrangement, a bank agrees to pay amounts to a participating supplier in respect of invoices owed by the Group and receives settlement from the Group at a later date. From the Group’s perspective, the arrangement does not significantly extend payment terms beyond the normal terms agreed with other suppliers that are not participating. The Group has not derecognized the original liabilities to which the arrangement applies because neither a legal release was obtained nor the original liability was substantially modified on entering into the arrangement. The Group includes the amounts factored by suppliers within trade payables because the nature and function of the financial liability remain the same as those of other trade payables. The payments under reverse factoring arrangements are included within operating cash flows because they continue to be part of the normal operating cycle of the Group and their principal nature remains operating. |
Accrued Expenses
Accrued Expenses | 12 Months Ended |
Dec. 31, 2021 | |
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Accrued Expenses | 25. ACCRUED EXPENSES December 31, December 31, Holiday provision, including payroll related taxes 1,731 665 Employee bonuses, including payroll related taxes 1,507 309 Provision for reimbursements to third-party sellers 755 407 Refund liability 462 231 Tax provisions 239 65 Provision for legal claims 22 — Total 4,716 1,677 |
Contract Liabilities and Deferr
Contract Liabilities and Deferred Income | 12 Months Ended |
Dec. 31, 2021 | |
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Disclosure Of Contract Liabilities And Deferred Income Explanatory | 26. CONTRACT LIABILITIES AND DEFERRED INCOME December 31, December 31, Contract liabilities 7,726 3,763 Unredeemed gift certificates 1,267 864 Loyalty points 452 148 Upfront fees under ADS 348 408 Ozon Premium 130 48 Total 9,923 5,231 Current 9,634 4,825 Non-current 289 406 |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2021 | |
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Share-Based Compensation | 27. SHARE-BASED COMPENSATION The Group maintains the 2020 Equity Incentive Plan (the “EIP” or “2020 Plan”) and its predecessor, the 2018 Equity Incentive Plan (the “2018 Plan”). The Group also had the 2018 Equity Incentive Agreement (“2018 EIA”) and a 2009 Stock Option Agreement (“2009 SOA”), awards granted under both of these plans were fully exercised during the year. The EIP The 2020 Plan was approved the Company’s Board of Directors on December 21, 2020. Awards under the 2018 Plan have been amended and are now subject to the same terms as the 2020 Plan. Subsequently, on January 27, 2021, the Company registered 30,800,000 ordinary shares available for issuance under the 2020 Plan, including in respect of previously granted awards. The EIP authorizes the grant of equity awards in the form of restricted share units (“RSUs”), share appreciation rights (“SARs”) or stock options (“Options”) to employees, consultants and advisors of the Group. Under the 2020 Plan, all awards will expire on the tenth anniversary of the date of grant or, in the case of an award that has vested but not lapsed, if earlier, 90 days after the date on which the recipient ceases to be an eligible participant. All vested awards remain exercisable until delivery of an acquisition notice by participant to the Company. Awards under the 2020 Plan generally vest over a four-year period. 1/4 of each award vests in twelve months from the grant date, and remaining 3/4 of each award continue to vest by 1/16 portions at the end of each calendar quarter following the first anniversary of the award. Awards provide the participant with the right to receive ADSs (while ADSs remain listed) immediately upon vesting or any other date after the vesting. As part of the EIP, in August 2021, the Company granted to Mr Alexander Shulgin, the Group’s former th 2018 EIA The 2018 EIA represented a share option agreement between the Company and Mr. Shulgin, former Executive Director and Group is The payments of the exercise price of 313 (2021) and 93 (2018) were included in the share premium reserve. 2009 SOA The 2009 SOA was an agreement made between the Company and its former CEO, Bernard Lukey, giving Mr. Lukey the right to purchase up to 500,000 ordinary shares exercisable after a vesting period, which has now been completed, and up to June 10, 2021 at an exercise price of USD 1.95304 per share. In 2021, Mr. Lukey exercised 483,775 ordinary shares under the 2009 SOA. Awards are, other than upon retirement or in exceptional circumstances, subject to the condition that the contractual arrangement with the recipient remains in place at the time of exercise. The awards do not carry voting rights. The number of shares to which each award relates and the vesting conditions of awards granted to participants are approved by the Board of Directors. During 2021 the Company granted to certain employees and directors 6,158,277 SBAs in a form of Restricted Share Units (“RSU”) with zero exercise price (including 3,200,000 SBAs granted to Mr. Alexander Shulgin and 80,000 SBAs granted to non-executive During 2021, 4,592,143 shares were transferred to EIP participants as a result of SBA exercises with a corresponding reclassification from equity-settled employee benefits reserve to share premium of 1,079 The following table reconciles awards outstanding at the beginning and the end of the year: Quantity Weighted Options: As at December 31, 2019 1,558,275 240 Granted — — Exercised — — Forfeited — — As at December 31, 2020 1,558,275 240 Granted — — Exercised (1,558,275 ) 240 Forfeited — — Cancelled — — As at December 31, 2021 — — Quantity Weighted SARs: As at December 31, 2019 652,900 257 Granted — — Exercised (8,050 ) 260 Forfeited (121,036 ) 258 As at December 31, 2020 523,814 257 Granted — — Exercised (249,875 ) 255 Forfeited — — Cancelled — — As at December 31, 2021 273,939 256 Exercisable as at December 31, 2021 273,939 256 Quantity Weighted RSUs: As at December 31, 2019 6,317,875 364 Granted 5,288,725 1,713 Exercised (187,850 ) 326 Forfeited (1,008,163 ) 411 As at December 31, 2020 10,410,587 1,047 Granted 6,158,277 3,687 Exercised (2,825,866 ) 308 Forfeited (358,222 ) 2,022 Cancelled (1,369 ) 3,986 As at December 31, 2021 13,383,407 2,366 Exercisable as at December 31, 2021 3,100,529 933 T 2021 year to RUB and 3,800 RUB for RSUs and SARs, respectively. An years Stock-based compensation expense Stock-based compensation expense is allocated based on the cost center to which the award holder belongs. The following table summarizes total stock-based compensation expense / (reversal) by function for the years ended December 31, 2021, 2020 and 2019. 2021 2020 2019 Fulfillment and delivery (note 6) 635 53 19 Sales and marketing (note 7) 1,013 81 14 Technology and content (note 8) 2,245 152 16 General and administrative (note 9) 3,927 358 141 7,820 644 190 Measurement of fair values The fair values of awards granted in 2020 and 2019 years have been measured using the Black-Scholes model. The weighted average inputs used in the measurement of the fair values at grant date of the equity incentive plans for the years ended December 31, 2020 and 2019 are the following: 2020 2019 Expected annual volatility 48% 45% Expected term, years 4 4 Dividend yield None None Risk-free interest rate 5.7% 7.3% Expected volatility . Because the Company’s shares were not publicly traded until November 24, 2020, the expected volatility had been estimated based on an analysis of the historical share price volatility of comparable public companies for a preceding period equal to 4 years. Expected term. The expected terms of the instruments had been based on general award holder behavior. Where relevant, the expected life had been adjusted based on management’s best estimate for the effects of non-transferability, exercise restrictions and behavioral considerations. Dividend yield. Risk-free rates RUB-denominated USD-denominated Fair value of ordinary share Subsequent to the Company’s IPO in November 2020, the fair value of ordinary share was determined on the grant date using the closing price of the Company’s ADS traded on Nasdaq. As employees are not entitled to dividends declared during the vesting period, the Group takes into consideration the impact of the dividend forfeiture in its estimate of the fair value of RSUs granted during the period. For the RSUs granted during 2021 year, the impact of dividend forfeiture was assessed as not material to the valuation. Prior to the IPO, the absence of an active market for the Company’s ordinary shares required the Board of Directors, the members of which the Company believes have extensive business, finance and venture capital experience, to determine the fair value of its ordinary share to grant stock-based awards and to calculate stock-based compensation expense. The Company obtained contemporaneous third-party valuations to assist the Board of Directors in determining fair value. Factors taken into consideration in assessing the fair value of the Company’s ordinary share in 2020 and 2019 years included: the sale of the Company’s shares to investors in private offerings; the Company’s capital resources and financial condition; the likelihood and timing of achieving a qualifying event, such as an IPO or sale of the Company given prevailing market conditions; the Company’s historical operating and financial performance as well as the Company’s estimates of future financial performance; valuations of comparable companies; the hiring of key personnel; the status of the Company’s development, product introduction and sales efforts; industry information such as market growth and volume and macro-economic events; and, additional objective and subjective factors relating to its business. |
Related Parties
Related Parties | 12 Months Ended |
Dec. 31, 2021 | |
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Related Parties | 28. RELATED PARTIES Notes 10 and 22 provide information about the Group’s ownership structure and investment in an associate. The following table provides the total amount of transactions that have been entered into with related parties for the relevant financial year. Sales to related Purchases Amounts owed Amounts owed Entities with significant influence over the Group: Sistema PJSFC 2021 114 553 6 973 Sistema PJSFC 2020 — 193 — 9 Sistema PJSFC 2019 — 309 — 18 Associate: Litres 2021 7 1 1 2 Litres 2020 6 11 144 ** 2 Litres 2019 5 6 1 3 * The amounts are classified as accounts receivable and trade payables, respectively. ** Including 141 of accrued but not paid dividends for the year ended December 31, 2020. Purchases from Sistema PJSFC group of companies relate primarily to purchases of telecommunication services (phone service, internet, etc.), software products, property and other assets including right of use assets, payment collection and processing services, and factoring arrangements. Purchases from Litres include subscriptions for the e-books The Group has several accounts at MTS-Bank MTS-Bank MTS-Bank During 2021, the Group entered into factoring arrangements with MTS-Bank Outstanding balances with related parties at the year-end and 2019 Transactions with key management personnel The remuneration of key management personnel for the year ended December 31, 2021, 2020 and 2019 amounted to: 2021 2020 2019 Short-term employee benefits (i) 90 53 33 Share-based compensation expense (ii) 2,390 224 93 2,480 277 126 i. Short-term benefits include salaries, bonuses, paid annual leave and social security contributions. ii. Amounts related to the participation of the key management personnel in the incentive scheme posted in consolidated statements of profit or loss and other comprehensive income. In August 2021, the Company granted to Mr . . th |
Financial Instruments, Risk Man
Financial Instruments, Risk Management and Capital Management | 12 Months Ended |
Dec. 31, 2021 | |
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Financial Instruments, Risk Management and Capital Management | 29. FINANCIAL INSTRUMENTS, RISK MANAGEMENT AND CAPITAL MANAGEMENT 29.1 Financial assets and financial liabilities The following table shows the carrying amounts of financial assets and financial liabilities. Management assessed that the carrying values of the Group’s financial assets and financial liabilities measured at amortized cost are a reasonable approximation of their fair values , except for the financial liabilities related to the convertible bonds. December 31, December 31, Financial assets measured at amortized cost Cash and cash equivalents (note 21) 108,037 103,702 Short-term bank deposits (note 21) 17,954 22 Accounts receivable (note 19) 6,015 3,405 Other financial assets (note 20) 2,387 746 Financial assets measured at fair value through profit or loss (on recurring Accounts receivable (note 19) 596 — Total financial assets 134,989 107,875 Financial liabilities measured at amortized cost Trade and other payables (note 24) 89,791 42,623 Lease liabilities (note 15) 42,467 15,490 Convertible bonds (note 23) 49,403 — Borrowings (note 23) 12,713 9,448 Financial liabilities measured at fair value through profit or loss (on recurring basis) Conversion options 594 — Total financial liabilities 194,968 67,561 The Group uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique: Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices); Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs). For assets and liabilities that are recognized at fair value on a recurring basis, during 2021, the Group determined that no transfers between the levels in the fair value hierarchy have occurred (2020: none). During 2021, there were no changes in the Group’s valuation processes, valuation techniques, and types of inputs used in the fair value measurements, except for the changes necessary to determine fair values of new types of instruments acquired during the period. The fair value of assets and liabilities as of December 31, 2021 and 2020, including those measured at fair value on a recurring basis, consisted of the following: Fair value December 31, December 31, Financial assets measured at fair value through profit and loss Accounts receivable Level 3 596 596 Total assets 596 596 Financial liabilities measured at amortized cost Convertible bonds (note 23) Level 2 49,403 45,036 Financial liabilities measured at fair value through profit and loss (on Conversion options (note 23) Level 2 594 594 Total financial liabilities 49,997 45,630 The fair value of accounts receivable held for sale is determined in accordance with the transaction prices for similar instruments. In 2021 the Group recognized the loss on revaluation of such receivables in the The fair values of non-derivative financial liability related to convertible bond measured at amortized cost are determined in accordance with generally accepted pricing models based on discounted cash flow analysis using prices from observable current market transactions and quotes for similar instruments. The fair values of conversion option and liability component of the convertible bonds are derived from the quoted prices in active markets for the respective liabilities as well as market inputs underlying or derived from the quoted market prices of the instruments using discounted cash flow and option pricing methodology with a reference to the Groups credit spread and volatility of the Group’s share price. The inputs include the Group’s credit spread and market value of the Bonds. 29.2 Financial risk management In common with all other businesses, the Group is exposed to risks that arise from its use of financial instruments. The Group has exposure to the following risks arising from financial instruments: market risk, credit risk and liquidity risk. There have been no substantive changes in the Group’s exposure to financial instrument risks, its objectives, policies and processes for managing those risks or the methods used to measure them from previous periods. 29.2.1 Market risk Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk, which mostly impacts the Group, comprises two types of risk: interest rate risk and currency risk. Financial instruments affected by market risk include cash and cash equivalents, short-term deposits, accounts receivable, borrowings, lease liabilities, and trade and other payables. The Group does not enter into any derivative financial instruments to manage its exposure to foreign currency risk and interest rate risk. Interest rate risk Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Group’s exposure to the risk of changes in market interest rates is currently limited as the Group manages its interest risk having all its cash deposits and its borrowings at fixed rates of interest. However, growth in rates may limit the Group’s ability to attract new financing on commercially sensible terms. Foreign currency risk Foreign currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Group’s exposure to the risk of changes in foreign exchange rates relates to the Group’s financing activity (borrowings and lease liabilities in foreign currencies), investing activities (capital investments and short-term deposits in foreign currency) and operating activities (when revenue, expense and related settlement balances are denominated in a foreign currency). The carrying amounts of the Group’s foreign currency denominated monetary assets and monetary liabilities at the end of the reporting period are as follows: USD denominated EUR denominated 2021 2020 2021 2020 Assets 69,192 68,224 42 58 Liabilities (50,595 ) (314 ) (477 ) (94 ) Net position 18,597 67,910 (435 ) (36 ) The Group keeps part of its cash and cash equivalents in USD and EUR interest-bearing accounts to manage against the risk of RUB decline or devaluation, and also to match its foreign currency liabilities. Foreign currency sensitivity The following table demonstrates the sensitivity to a reasonably possible change in the USD and EUR exchange rates, with all other variables held constant. The table provides information about the impact on the Group’s profit before tax due to changes in the fair value of monetary assets and liabilities. The Group’s exposure to foreign currency changes for all other currencies is not material. Change in Effect on profit before tax Year ended December 31, 2021 USD +50%/-50% 9,299 / (9,299) EUR +50%/-50% (218) / 218 Year ended December 31, 2020 USD +30%/-30% 20,373 / (20,373) EUR +30%/-30% (11) / 11 Impacts of the geopolitical crisis surrounding Ukraine (note 31) is expected to cause a significant depreciation of the Russian Rouble which is likely to result in upward revaluation of USD denominated borrowings, as well as cash and cash equivalents. 29.2.2 Credit risk Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk from its operating activities (primarily accounts receivable) and from its cash, cash equivalents and short-term deposits held with banks and other financial instruments. The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was: December 31, December 31, Accounts receivables (note 19) 6,611 3,405 Short-term bank deposits (note 21) 17,954 22 Cash and cash equivalents (note 21) 108,037 103,702 Total credit exposure 132,602 107,129 Accounts receivables The Group’s accounts receivable mainly consist of amounts due from customers (advertising services, rebates and subsidies). Accounts receivable owed by vendors have low credit risk because the debtors have a strong capacity to meet their contractual cash flow obligations in the near term. Cash, cash equivalents and short-term deposits The Group held cash, cash equivalents and bank deposits of 125,991 at December 31, 2021 (2020: 103,724). The cash, cash equivalents and short-term bank deposits are primarily held with banks, which are rated not less than BBB- As at December 31, 2021 and 2020, expected credit loss related to cash, cash equivalents, and short-term deposits was not material. Impairment on cash and cash equivalents has been measured on a 12-month The Group’s accounts receivable do not include individually significant balances due from customers. With respect to the Group’s cash and cash equivalents and short-term bank deposits, the Group’s liquidity policy prescribes to limit credit risk by setting maximum concentration criteria of 25% per financial institution while such an institution shall have minimum credit rating of BBB- (S&P) The negative impact of the geopolitical crisis surrounding Ukraine (note 31) on the Russian economy is likely to increase the credit risk for many of the Group’s customers, which will result in additional amounts of expected credit losses to be recognized in future. In March 2022, top rating agencies, including Fitch and Moody’s, have withdrawn Russian sovereign ratings and stopped covering ratings of entities based in Russia. The withdrawal of ratings increases an uncertainty with respect to the credit risk of the Group’s counterparts. 29.2.3 Liquidity risk Liquidity risk is the risk that the Group will not be able to settle all liabilities as they fall due. The Group manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities by continuously monitoring forecasts and actual cash flows and matching the maturity profiles of financial assets and liabilities. The table below summarizes the maturity profile of the Group’s financial liabilities based on contractual undiscounted payments: On demand Within 1 year 1 to 3 years 3 to 5 years > 5 years Total 2021 Trade and other payables — 89,322 328 122 222 89,994 Borrowings — 12,328 3,217 57,881 1,218 74,644 Lease liabilities — 11,794 20,500 12,900 12,507 57,701 Total financial liabilities — 113,444 24,045 70,903 13,947 222,339 On demand Within 1 year 1 to 3 years 3 to 5 years > 5 years Total 2020 Trade and other payables — 42,545 78 — — 42,623 Borrowings — 7,582 1,121 572 1,521 10,796 Lease liabilities — 4,763 7,637 4,845 2,865 20,110 Total financial liabilities — 54,890 8,836 5,417 4,386 73,529 29.3 Changes in liabilities arising from financing activities The table below details changes in the Group’s liabilities arising from financing activities, including both cash and non-cash January 1, Financing New leases (non-cash) Bifurcation of (non-cash) Exchange Change in Other (non-cash) December 31, Borrowings 9,448 58,348 — (6,958 ) 219 — 1,059 62,116 Conversion — — — 6,958 — (6,364 ) — 594 Lease liabilities 15,490 (4,769 ) 31,423 — — — 323 42,467 24,938 53,579 31,423 — 219 (6,364 ) 1,382 105,177 January 1, Financing New leases (non-cash) Conversion Other December 31, Borrowings 4,116 8,212 — (3,594 ) 714 9,448 Lease liabilities 9,609 (2,296 ) 8,122 — 55 15,490 13,725 5,916 8,122 (3,594 ) 769 24,938 The ‘Other’ column includes the effect of accrued but not yet paid interest on the Group’s borrowings and lease liabilities. The Group classifies interest paid as cash flows from operating activities. 29.4 Capital management The Group manages its capital to ensure that companies in the Group will be able to continue as a going concern while maximizing the return to shareholders through the optimization of the debt and equity balance. The capital structure of the Group consists of net cash (cash and cash equivalents offset by borrowings as detailed in note 23) and equity (as detailed in the consolidated statements of financial position). In order to achieve this overall objective, the Group’s capital management, among other things, aims to ensure that it meets financial covenants attached to the borrowings that define capital structure requirements. Breaches in meeting the financial and non-financial covenants attached to the Group’s borrowings would permit creditors to call such borrowings. Breaches in covenants could lead to a default on other indebtedness due to cross-default terms under that indebtedness. No changes were made in the objectives, policies or processes for managing capital during the years ended December 31, 2021 and 2020. |
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Contingencies | 30. CONTINGENCIES Legal proceedings The Group has been and continues to be the subject of legal proceedings and adjudications from time to time, none of which has had, individually or in the aggregate, a material adverse impact on the Group. Management believes that the resolution of all current and potential legal matters will not have a material adverse impact on the Group’s financial position or operating results. As of December 31, 2021, the Group estimates that a contingent liability related to the current and potential legal matters, where a cash outflow is possible, amounts to approximately 84 (2020: nil). The Russian Federation tax and regulatory environment The taxation system in the Russian Federation continues to evolve and is characteri z Recent events within the Russian Federation suggest that the tax authorities are taking a more assertive and substance-based position in their interpretation and enforcement of tax legislation and as a result, it is possible that transactions and activities that have not been challenged in the past may be challenged. As such, significant additional taxes, penalties and interest may be assessed. A tax year generally remains open for review by the tax authorities during the three subsequent calendar years. Under certain circumstances reviews may cover longer periods. As at December 31, 2021, the Group estimates that possible exposure in relation to the above mentioned risks, as well as other tax risks, that are more than remote, but for which no liability is required to be recognized, amounts to approximately 371 (as at December 31, 2020: 169). This estimation should not be considered as an estimate of the Group’s potential tax liability. |
Risks And Uncertainties Related
Risks And Uncertainties Related To Current Environment | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Risks And Uncertainties Related To Current Environment | 3 1. RISKS AND UNCERTAINTIES RELATED TO CURRENT ENVIRONMENT Current Environment The Group’s primary operation market is Russia. As a result, the Group’s business and results of operations are dependent on the economic conditions in Russia. Over the last two decades, the Russian economy has experienced or continues to experience at various times significant volatility in its GDP, high levels of inflation, increases in, or high, interest rates, sudden price declines in oil and other natural resources, instability in the local currency market, lack of reform in the banking sector and a weak banking system providing limited liquidity to Russian enterprises, budget deficits, capital flight, and significant increases in poverty rates, unemployment and underemployment. The sanctions imposed on Russia and Russian persons by a number of countries in connection with the geopolitical crisis surrounding Ukraine and further regulatory counter-measures taken by the Russian Government, have had a significant, and in many cases unprecedented, impact on companies operating in Russia. In response to the geopolitical crisis surrounding Ukraine, the United States, the European Union, the United Kingdom and other countries imposed severe sanctions targeting Russian financial institutions, including the prohibition on transactions with the Central Bank of Russia, blocking of assets and cutting off certain Russian banks from SWIFT; businessmen and their assets; and oil, defense and other state-owned companies, as well as export and import restrictions. In response, Russia identified 48 states, including the United States, all European Union member states and the United Kingdom, as “hostile” and introduced a number of economic measures in connection with their actions, as well as economic measures aimed at ensuring financial stability of Russia. As potential global and economic impacts of the geopolitical crisis surrounding Ukraine continue to evolve rapidly, unpredictable and outside the control of the Group it is difficult to accurately predict the full impact of the sanctions that were introduced or any measures taken by the Russian government in response to such sanctions. COVID-19 In March 2020, the World Health Organization declared the COVID-19 |
Events After the Reporting Date
Events After the Reporting Date | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Events After the Reporting Date | 32. EVENTS AFTER THE REPORTING DATE On April 7, 8 and 13, 2022, Australia the European Union and the United Kingdom and Switzerland, respectively, imposed asset freeze sanctions on Mr. Alexander Shulgin, our then-CEO of our Group and an Executive Director of our board of directors. On April 11, 2022, Mr. Shulgin resigned from our board of directors and is no longer CEO of our Group. Mr. Igor Gerasimov, Chief Financial Officer of our Group, replaced Mr. Shulgin as an Executive Director on our board of directors. On April 28, 2022, Mr. Shulgin resigned from his position as the General Director of our key Russian operating subsidiary and our Russian holding company. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Business combinations | a) Business combinations Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at acquisition date fair value, and the amount of any non-controlling The Group determines that it has acquired a business when the acquired set of activities and assets include an input and a substantive process that together significantly contribute to the ability to create outputs. The acquired process is considered substantive if it is critical to the ability to continue producing outputs, and the inputs acquired include an organised workforce with the necessary skills, knowledge, or experience to perform that process or it significantly contributes to the ability to continue producing outputs and is considered unique or scarce or cannot be replaced without significant cost, effort, or delay in the ability to continue producing outputs. The Group elects on a transaction-by-transaction |
Investments in associates | b) Investments in associates An associate is an entity over which the Group has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee, but is not control or joint control over those policies. The Group’s investments in associates are accounted for using the equity method. Under the equity method, an investment in an associate is initially recognized in the consolidated statement of financial position at cost and adjusted thereafter to recognize the Group’s share of the profit or loss and other comprehensive income of the associate since the acquisition date. Dividends received or receivable from an associate reduce the carrying amount of the investments in associates. Goodwill relating to the associate is included in the carrying amount of the investment and is not tested for impairment separately. The consolidated statement of profit or loss and other comprehensive income reflects the Group’s share of the results of operations of the associate. When there has been a change recognized directly in the equity of the associate, the Group recognizes its share of any changes, when applicable, in the consolidated statement of changes in equity. Unrealized gains and losses resulting from transactions between the Group and the associate are eliminated to the extent of the interest in the associate. When the Group’s share of losses of an associate exceeds the Group’s interest in that associate, the Group discontinues recognizing its share of further losses. Additional losses are recognized only to the extent that the Group has incurred legal or constructive obligations or made payments on behalf of the associate. After application of the equity method, the Group determines whether it is necessary to recognize an impairment loss on its investment in its associate. At each reporting date, the Group determines whether there is objective evidence that the investment in the associate is impaired. If there is such evidence, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value, and then recognizes the loss within “Share of profit / (loss) of an associate” in the consolidated statement of profit or loss and other comprehensive income. Upon loss of significant influence over the associate, the Group measures and recognizes any retained investment at its fair value. Any difference between the carrying amount of the associate upon loss of significant influence and the fair value of the retained investment and proceeds from disposal is recognized in profit or loss. |
Foreign currencies | c) Foreign currencies The Group’s consolidated financial statements are presented in Russian Rubles (“RUB”), which is also the parent company’s functional currency. For each entity, the Group determines the functional currency and items included in the financial statements of each entity are measured using that functional currency. The functional currency of Russian operating subsidiaries, which account for the significant majority of our operations, is the Russian ruble. The functional currency of the Group’s operating subsidiaries in Belarus and Kazahstan is their respective local currency. The Group determines the functional currency based on combination of factors and consider the primary economic environment in which these companies operate, and the related currency, in which they generate and expend its cash flows. Transactions in foreign currencies are initially recorded by the Group’s subsidiaries in their functional currency at exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated into functional currency at exchange rates prevailing at the reporting date. Differences arising on settlement or translation of monetary items are recognized within “Foreign currency exchange gain / (loss), net”, in the consolidated statement of profit and loss and other comprehensive income. Non-monetary Non-monetary The RUB is not a fully convertible currency outside Russia. Within the Russian Federation, official exchange rates are determined by the Central Bank of the Russian Federation. |
Revenue from contracts with customers | d) Revenue from contracts with customers The Group evaluates whether it is appropriate to record the gross amount of product sales and related costs or the net amount earned as commissions based on a determination of whether it is a principal in providing a good or a service to a customer (a principal controls the goods or services before they are transferred to customers) or whether it is an agent of another entity. When the Group is primarily responsible for fulfilling the promise to provide the specified good or service, bears an inventory risk, has discretion in establishing prices, or has several but not all of these indicators, it is a principal in the arrangement and recognizes revenues on a gross basis. When the Group’s performance obligation is to arrange for the provision of the specified good or service by another party, revenues are recorded on a net basis. Revenue from contracts with customers is recognized when control of the goods or services are transferred to the customer at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services. i. Revenue from sales of goods The Group recognizes revenue from sales of goods on a gross basis as the Group controls goods before the goods are transferred to a customer. Payment for the purchased goods is generally made either before delivery or upon delivery. Revenue is recognized at the point in time when control of the promised goods is transferred to customers which generally occurs upon delivery to the customers. The Group recognizes revenue net of return allowances when the goods are delivered to customers. Delivery of goods to customers, who place their orders for goods online through the Group’s website and mobile app, is not separately identifiable from sales of goods, and the Group accounts for sales of goods and delivery services to its customers as a single performance obligation. ii. Right of return For certain categories of goods customers have a right to return these goods within a specified period. Return allowances, which reduce revenues from sales of goods, are estimated based on historical experiences. For goods that are expected to be returned from the customers, the Group recognizes a refund liability (included in Accrued expenses in the consolidated statement of financial position). The liability is measured at the amount the Group ultimately expects it will have to return to the customer. A right of return asset (included in Inventories in the consolidated statement of financial position) and corresponding adjustment to cost of sales are also recognized for the right to recover products from the customers. iii. Financing component in revenue arrangements The Group has a service (“Ozon Installment”) that allows customers to pay for goods in installments generally over a six-month iv. Loyalty program The Group has loyalty points programs (Ozon Points, Ozon Premium Points, Ozon Card, Ozon Rubles) which allow customers to accumulate points in connection with purchase of goods or services on the Group’s marketplace platform that can be redeemed against future purchases, subject to a certain threshold. The loyalty points give rise to a separate performance obligation as they provide a material right to the customer. A portion of the transaction price is allocated to the loyalty points awarded to customers based on a stand-alone selling price of points and recognized as deferred revenue (contract liability) in the consolidated statement of financial position. Deferred revenue is recognized as revenue when loyalty points are redeemed, expire or the likelihood of the customer redeeming the points becomes remote. When estimating the stand-alone selling price of the loyalty points, the Group considers the likelihood that the customer will redeem the points. The Group updates its estimates of the points that will be redeemed on a quarterly basis and any adjustments to the deferred revenue balance are charged against revenue. Generally, the deferred revenue related to loyalty programs is recognized within one year after the reporting date. v. Gift certificates The Group sells gift certificates which can be redeemed to purchase products sold on the Group’s website ozon.ru or mobile app. The cash collected from the sales of gift certificates is initially recorded as deferred revenue (contract liability) in the consolidated statement of financial position and subsequently recognized as revenue upon the sales of the respective products through redemption of gift certificates. Revenue from redeemed gift certificates is included in Revenue from sales of goods (note 4). Revenue from unredeemed gift certificates is recognized over the expected customer redemption period (usually 12 months) and included in service revenue. vi. Premium subscription In 2019, the Group launched an Ozon Premium program (“Ozon Premium”), a subscription-based service which provides customers with free delivery, additional discounts and other benefits. The cash collected from the sales of Ozon Premium is initially recorded as deferred revenue (contract liability) in the consolidated statement of financial position and subsequently recognized as revenues over the subscription period (1, 6 or 12 months). Revenue from Ozon Premium is included in service revenue. vii. Marketplace commission The Group offers a marketplace platform that enables sellers to sell their products through the Group’s website and use the Group’s logistics infrastructure to deliver products to the end-customer. end-customer Revenue from additional services to sellers such as product utilization charges, additional fulfillment and logistics services, charges for convenient payment options are recognized upon fulfillment of the respective performance obligations which generally matches the invoicing pattern. viii. Advertising revenue The Group’s advertising services allow customers to place advertisements in particular areas of the Group’s websites at fixed or variable prices (cost per click or cost per view). Advertising revenue is recognized evenly over the period in which the advertisement is displayed or based on the number of views or clicks, when the advertisement has been displayed. Payment is generally due within 30 to 60 days from providing advertising services. ix. Travel services Revenue from travel services consists of commission fees and ticketing fees charged from the travel supplier and/or traveler for the sale of airline and railway tickets, and hotel bookings through the Group’s website and app. The Group acts as the agent in these transactions, passing reservations booked by the traveler to the relevant travel provider. Commission fees and ticketing fees are recognized upon booking of airline and railway transactions or hotel reservations as the Group has no significant post-delivery obligations. |
Leases | e) Leases Right-of-use The Group recognizes right-of-use Right-of-use right-of-use Fulfillment and sorting centers 3-10 Office premises 2-7 Pick-up 3 Vehicles 3-4 Right-of use assets are also subject to impairment. Refer to the accounting policies in section 2.5 (p) Impairment of long-lived assets. Lease liabilities At the commencement date of the lease, the Group recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for terminating a lease, if the lease term reflects the Group exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expense in the period on which the event or condition that triggers the payment occurs. In calculating the present value of lease payments, the Group uses the incremental borrowing rate (IBR) at the lease commencement date if the interest rate implicit in the lease is not readily determinable. The IBR is the rate of interest that the Group would have to pay to borrow over a similar term, and with a similar security, the funds necessary to obtain an asset of a similar value to the right-of-use After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a contract modification, including a change in the lease term, a change in the in-substance Leases of low-value The Group applies the lease of low-value low-value Sale and leaseback transactions In a sale and leaseback transaction, an entity (seller-lessee) sells an asset to another entity (buyer-lessor) who then leases it back to the seller-lessee. The Group applies the requirements of IFRS15, Revenue from Contracts with Customers If the transfer of an asset by the seller-lessee does not satisfy the requirements of IFRS 15, Revenue from Contracts with Customers Financial Instruments Security deposits At the commencement of a lease, the Group may be required to pay a security deposit to the lessor. As long as the deposit is a true deposit and not a prepaid lease payment, the deposit gives the lessee a right to receive the money back in cash from the lessor and is, therefore, a financial asset for the lessee and a financial liability for the lessor and is within the scope of IFRS 9 , Financial Instruments When the deposit earns interest below the market rate, the excess of the principal amount of the deposit over its fair value is accounted as a prepaid lease payment. The Group includes this amount in the cost of its right-of-use Interest on the deposit is accounted for using the effective interest method. Presentation in the consolidated statement of cash flows The Group classifies cash payments for the principal portion of lease liabilities within financing activities and cash payments for the interest portion of the lease liabilities within operating activities. |
Cost of sales | f) Cost of sales Cost of sales consists of purchase price of consumer products, net of vendor’s rebates and subsidies, write-downs and losses of inventories, cost of travel services and costs of obtaining and fulfilling contracts with third-party sellers on the marketplace platform. Rebates and subsidies The Group periodically receives considerations from certain vendors, representing rebates for products sold and subsidies for the sales of the vendors’ products over a period of time. Vendor rebates typically depend on reaching minimum sales or purchase thresholds for a specified period, or on selling goods at a targeted discount (subsidized by vendor). The rebates are not sufficiently separable from the Group’s purchase of the vendors’ products and they do not represent a reimbursement of costs incurred by the Group to sell vendors’ products. The Group accounts for the rebates received from its vendors as a reduction to price of purchased goods and therefore the Group records such amounts as a reduction of cost of sales when such sales occur. When volume rebates can be reasonably estimated based on the Group’s past experiences, a portion of the rebates is recognized as the Group makes progress towards the target threshold. Subsidies are calculated based on the volume of products sold through the Group and are recorded as a reduction of cost of sales when the sales have been completed and the amount is determinable. |
Fulfillment and delivery expenses | g) Fulfillment and delivery expenses Fulfillment and delivery expenses consist of outbound shipping costs, packaging material costs, costs incurred in operating the Group’s fulfillment centers, sorting centers, customer service centers, pickup points, expenses related to payment processing, costs associated with use by these functions of facilities and equipment, such as depreciation expenses, as well as write-offs and losses of sellers’ inventory and other related costs. Fulfillment and delivery expenses also include amounts paid to employees and third parties that assist the Group in fulfillment, sorting, delivery and customer service operations. Fulfillment and delivery costs are expensed as incurred. |
Sales and marketing expenses | h) Sales and marketing expenses Sales and marketing and commercial expenses consist primarily of advertising costs and related employee costs. The Group pays commissions to participants in the affiliates program when their customer referrals result in successful product sales and records such costs in sales and marketing expenses. Sales and marketing costs are expensed as incurred. |
Technology and content expenses | i) Technology and content expenses Technology and content expenses include payroll and related expenses for employees involved in the research and development of new and existing products and services, development, design, and maintenance of the Group’s websites and mobile apps, and technology infrastructure costs. Technology and content expenses are expensed as incurred. |
General and administrative expenses | j) General and administrative expenses General and administrative expenses consist of payroll and related expenses for employees involved in general corporate functions, including general and administrative expenses related to operation of marketplace platform. These expenses include payroll of accounting, finance, tax, legal and human relations functions; costs associated with use by these functions of facilities and equipment, such as depreciation expenses, rental and other general corporate related expenses. General and administrative costs are expensed as incurred. |
Share-based awards | k) Share-based awards All of the Group’s share-based awards are equity-settled. Certain employees of the Group receive remuneration in the form of share-based compensation, whereby employees render services as consideration for equity instruments. The Group issues equity-settled share-based awards, including share options, share appreciation rights and restricted share units, and accounts for these awards in accordance with IFRS 2, Share-based payment . The cost of equity-settled share-based awards is measured at fair value (excluding the effect of non-market-based vesting conditions) at the date of grant. That cost is recognized as an employee benefits expense, together with a corresponding increase in equity (equity-settled employee benefits reserves), over the period in which the service and, where applicable, the performance conditions are fulfilled (the vesting period). The cumulative expense recognized for equity-settled transactions at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Group’s best estimate of the number of equity instruments that will ultimately vest. The expense or credit in the consolidated statement of profit or loss and other comprehensive income for a period represents the movement in cumulative expense recognized as at the beginning and end of that period. Market-based performance criteria are taken into account when determining the fair value at the date of grant. Non-market based performance criteria are taken into account when estimating the number of share-based awards expected to vest. Any other conditions attached to an award, but without an associated service requirement, are considered to be non-vesting conditions. Non-vesting conditions are reflected in the fair value of an award and lead to an immediate expensing of an award unless there are also service and/or performance conditions. No expense is recognized for awards that do not ultimately vest because non-market performance and/or service conditions have not been met. Where awards include a market or non-vesting condition, the transactions are treated as vested irrespective of whether the market or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied. When the terms of an equity-settled award are modified to the employee’s benefit, the Company continues to recognize the grant date fair value of the award over the original vesting term. Further, from the modification date through the modified vesting date, the Company recognizes an additional expense for any modification that increases the total fair value of the share-based compensation transaction, or is otherwise beneficial to the employee. Where an award is cancelled by the entity or by the counterparty, any remaining element of the fair value of the award is expensed immediately through profit or loss. |
Income taxes | l) Income taxes Current income tax Current income tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities. Income taxes are computed in accordance with the laws of the Company’s and its subsidiaries’ jurisdictions. Taxable income of the Group’s companies incorporated in Russia, Kazakhstan, Belarus, and Cyprus is subject to local income taxes at rates of 20.0%, 20.0%, 18.0% and 12.5%, respectively. Deferred tax Deferred income taxes are accounted for under the balance sheet method and reflect the tax effect of temporary differences between the tax basis of assets and liabilities and their carrying amounts in the accompanying consolidated financial statements. Deferred tax liabilities are recognized for all taxable temporary differences, except: • When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; • In respect of taxable temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilised, except: • When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; • In respect of deductible temporary differences associated with investments in subsidiaries, associates and interests in joint arrangements, deferred tax assets are recognized only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. A deferred tax asset is derecognized when it is no longer probable that sufficient taxable profit will be available against which the deductible temporary differences can be recognized. Unrecognized deferred tax assets are re-assessed Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax relating to items recognized outside profit or loss is recognized outside profit or loss. Deferred tax items are recognized in correlation to the underlying transaction either in other comprehensive income or directly in equity. The Group offsets deferred tax assets and deferred tax liabilities if and only if it has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered. |
Cash and cash equivalents | m) Cash and cash equivalents Cash and cash equivalents in the consolidated statement of financial position comprise cash at banks and on hand and short-term deposits with a maturity of three months or less, which are subject to an insignificant risk of changes in value. For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and short-term deposits, as defined above, net of outstanding bank overdrafts. |
Property, plant and equipment | n) Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses, if any. The cost of an item of property, plant and equipment is recognized as an asset if it is probable that future economic benefits associated with the item will flow to the entity and the cost of the item can be measured reliably. The Group does not apply any thresholds for capitalising items of property, plant and equipment. Property, plant and equipment include major expenditures for new assets, improvements and replacement assets that extend the useful lives of assets or increase their revenue-generating capacities. Repair and maintenance costs are expensed as incurred. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Land Indefinite Buildings 16-50 Engineering facilities 5-30 Warehouse equipment 1-10 Transportation vehicles 4-7 Computer equipment 2-4 Other computer hardware and office facilities 1-10 Other assets 5-20 Leasehold improvements 3-10 Depreciation of property, plant and equipment used in delivery and fulfillment activities is included in Fulfillment and delivery expenses in the consolidated statement of profit or loss and other comprehensive income. Depreciation of other property, plant and equipment is included within General and administrative expenses. The carrying amount of an item of property, plant and equipment is derecognized on disposal, or when no future economic benefits are expected from its use or disposal. The gain or loss arising from the derecognition of an item of property, plant and equipment (calculated as the difference between the net disposal proceeds and the carrying amount of the asset) is included in “Gain / (loss) on disposal of non-current |
Intangible assets | o) Intangible assets An intangible asset is recognized if it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the cost of the asset can be measured reliably. Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is their fair value at the date of acquisition. Following initial recognition, intangible assets are carried at cost less any accumulated amortization and accumulated impairment losses. For internally generated assets the Group assesses whether an intangible asset meets the criteria for recognition, and classifies the generation of the asset into a research phase or a development phase. If the Group cannot distinguish the research phase from the development phase of an internal project to create an intangible asset, the expenditure on that project is treated as if it were incurred in the research phase only. Research costs are expensed as incurred. Development expenditures on an individual project are recognised as an intangible asset when the Group can demonstrate: • the technical feasibility of completing the intangible asset so that the asset will be available for use or sale • its intention to complete and its ability and intention to use or sell the asset • how the asset will generate future economic benefits • the availability of resources to complete the asset • the ability to measure reliably the expenditure during development Intangible assets are amortized on a straight-line basis over the useful economic life. The amortization expense on intangible assets with finite lives is recognized in the consolidated statement of profit or loss in the expense category that is consistent with the function of the intangible assets. An intangible asset is derecognized on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds and the carrying amount of the asset, are recognized in the consolidated statement of profit and loss. Intangible assets with indefinite useful lives are not amortised, but are tested for impairment annually and whenever there is an indication that the intangible asset may be impaired, either individually or at the cash-generating unit level. The assessment of indefinite life is reviewed annually to determine whether the indefinite life continues to be supportable. If not, the change in useful life from indefinite to finite is made on a prospective basis. |
Impairment of long-lived assets | p) Impairment of long-lived assets The Group assesses, at each reporting date, whether there is any indication that a long-lived asset may be impaired. If any indication exists, the Group estimates the recoverable amount of the asset in order to determine the extent of the impairment loss (if any). Where an individual asset does not generate largely independent cash inflows, the Group estimates the recoverable amount of the cash-generating unit (“CGU”) to which the asset belongs. Where a reasonable and consistent basis of allocation can be identified, corporate assets are also allocated to individual CGU, or otherwise they are allocated to the smallest group of CGUs for which a reasonable and consistent allocation basis can be identified. The recoverable amount is the higher of fair value less costs to sell (“FVLCS”) and value in use (“VIU”). In assessing VIU, the estimated future cash flows are discounted to their present value using a pre-tax If the recoverable amount of an asset (or CGU) is estimated to be less than its carrying amount, the carrying amount of the asset (or CGU) is reduced to its recoverable amount. An impairment loss is recognized immediately in the consolidated statement of profit or loss and other comprehensive income. Where an impairment loss subsequently reverses, the carrying amount of the asset (or CGU) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognized for the asset (or CGU) in prior years. A reversal of an impairment loss is recognized immediately in the consolidated statement of profit or loss and other comprehensive income. F - 20 |
Inventories | q) Inventories Inventories, consisting primarily of products available for sale, are accounted for using the weighted average cost method or the cost of each individual item, and are valued at the lower of cost and net realisable value. Net realisable value represents the estimated selling price less estimated costs necessary to make the sale. Adjustments are recorded to write down the cost of inventory (including slow-moving merchandise and damaged goods) to the estimated net realisable value based on assumptions about the write-down percentage that is applicable to various groups of goods. In determining the allowance percentages on inventories, the Group considers the historical demand for inventories, expected selling prices and estimated costs necessary to make the sale. The Group takes ownership, risks and rewards of the products purchased, but has arrangements to return unsold goods with certain vendors. Write-downs and losses of inventories are recorded in Cost of sales. The Group also provides fulfillment-related services in connection with the Group’s online marketplace. Third-party sellers maintain ownership of their inventories and therefore these products are not included in the Group’s inventories. The Group estimates and recognizes a provision for reimbursements, where Group is liable for the third-party sellers’ goods which were damaged or lost in the Group’s fulfillment and delivery infrastructure. |
Provisions | r) Provisions Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation, but the final amount and exact timing of respective outflow are not certain. Provisions are reviewed at the end of each reporting period and adjusted to reflect the current best estimate. If it is no longer probable that an outflow of resources embodying economic benefits will be required to settle the obligation, the provision is reversed. |
Value added tax | s) Value added tax Expenses and assets are recognized net of the amount of value added tax (“VAT”), except when the VAT incurred on a purchase of assets or services is not recoverable from the taxation authority, in which case the VAT is recognized as part of the cost of acquisition of the asset or as part of the expense item. The net amount of the VAT recoverable from, or payable to, the taxation authority is included as part of receivables or payables in the consolidated statement of financial position. |
Financial instruments | t) Financial instruments Initial recognition and measurement In accordance with IFRS 9, Financial Instruments financial assets are classified, at initial recognition, as subsequently measured at amortized cost, fair value through other comprehensive income (OCI), and fair value through profit or loss. In accordance with IFRS 9, Financial Instruments financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss and financial liabilities at amortized cost, as appropriate. The Group initially measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss, transaction costs. All financial liabilities are recognized initially at fair value and, in the case of loans and borrowings, net of directly attributable transaction costs. In order for a financial asset to be classified and measured at amortized cost or fair value through OCI, it needs to give rise to cash flows that are ‘solely payments of principal and interest (SPPI)’ on the principal amount outstanding. This assessment is referred to as the SPPI test and is performed at an instrument level. The Group’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. The Group’s financial assets include cash and cash equivalents, short-term deposits, security deposits (accounted for as cash collateral provided to the lessor), loans and accounts receivable. The Group’s financial liabilities include trade and other payables, lease liabilities, loans and borrowings, convertible debt instruments. Subsequent measurement Financial assets and financial liabilities at amortized cost The Group measures financial assets at amortized cost if both of the following conditions are met: • the financial asset is held within a business model with the objective to hold financial assets in order to collect contractual cash flows; and • the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets at amortized cost are subsequently measured using the effective interest (EIR) method and are subject to impairment. Gains and losses are recognized in profit or loss when the asset is derecognized, modified or impaired. After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortized cost using the EIR method. Amortized cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included in interest expense in the consolidated statement of profit or loss and other comprehensive income. Financial assets and financial liabilities at fair value through profit or loss. Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognised in the statement of profit or loss. This category includes trade accounts receivable from customers under the Ozon Installment program, which are expected to be derecognized in non-recourse factoring arrangements, whereby the Group exchanges the account receivables for a cash consideration from financial institutions. The risks and rewards of ownership with respect to such receivables are considered to have been transferred at the point where the financial institutions accepted a tranche of receivables and assumed related risks and rewards of the assets, and therefore the Group derecognizes respective trade accounts receivables in their entirety. The Group retains continuous involvement with the transferred receivables over the life of the transferred receivables as the Group continues to collect cash flows the receivables and has assumed an obligation to pay the received cash flows in full without material delay to the financial institution, acting solely as a collecting agent on behalf of the acquirer of the receivables. The timing of continuous involvement are limited to terms of Ozon Installment program and in general less than 12 months. The conversion features of the convertible bonds (the “conversion options”) is classified as financial liability and measured at fair value through profit and loss subsequently, while the host liability (the “debt component”) is accounted for at amortized cost using market interest rate determined at the date of bond issuance. Derecognition A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognized (i.e., removed from the Group’s consolidated statement of financial position) when: • the rights to receive cash flows from the asset have expired; or • the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a ‘pass-through’ arrangement; and • either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transf e A financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires. When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition of a new liability. The difference in the respective carrying amounts is recognized in the consolidated statement of profit or loss and other comprehensive income. Impairment of financial assets The Group recognizes an allowance for expected credit losses (ECLs) for all financial assets measured at amortized cost (subject to materiality considerations). ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive. ECLs are discounted at the effective interest rate of the financial asset in case of long-term assets. Under IFRS 9, Financial Instruments ECLs are measured on either of the following bases: • 12-month ECLs: these are ECLs that result from possible default events within the 12 months after the reporting date; and • lifetime ECLs: these are ECLs that result from all possible default events over the expected life of a financial instrument. The Group applies a simplified approach in calculating lifetime ECLs for accounts receivable. Therefore, the Group does not track changes in credit risk, but instead recognizes a loss allowance based on lifetime ECLs at each reporting date. Where respective balances are material, the Group applies a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. The most part of accounts receivable is short term, therefore forward-looking information is assessed based on subsequent events after reporting date. For all other financial assets, the Group recognizes lifetime ECL when there has been a significant increase in credit risk since initial recognition. However, if the credit risk on the financial instrument has not increased significantly since initial recognition, the Group measures the loss allowance for that financial instrument at an amount equal to 12-month ECL. When determining whether the credit risk of a financial instrument has increased significantly since initial recognition and when estimating ECLs, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group’s historical experience and informed credit assessment and including forward-looking information. The Group assumes that the credit risk on a financial instrument has not increased significantly since initial recognition if the financial instrument is determined to have low credit risk at the reporting date. A financial instrument is determined to have low credit risk if: • the financial instrument has a low risk of default – when the counterparty has an external credit rating of ‘investment grade’ in accordance with the globally understood definition (rating BBB- or higher, based on Standard & Poor’s and Fitch ratings); • the debtor has a strong capacity to meet its contractual cash flow obligations in the near term. The Group considers a financial asset in default when contractual payments are 90 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows. At each reporting date, the Group assesses whether financial assets carried at amortized cost are credit-impaired. A financial asset is credit-impaired when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred. Allowances for expected credit losses for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. Impairment losses related to accounts receivable are presented as part of cost of sales. Offsetting of financial instruments Financial assets and financial liabilities are offset and the net amount is reported in the consolidated statement of financial position if there is a currently enforceable l e |
Convertible debt instruments | u) Convertible debt instruments Convertible debt instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangement. In case such a convertible instrument includes a conversion feature, which is separable from the host debt contract, such a feature is separately assessed for classification as a financial liability or as an equity instrument. In such an assessment, the Group considers the definitions of a financial liability, an equity instrument, and a derivative instrument. An instrument is classified as an equity instrument if the instrument includes no contractual obligation to deliver cash or another financial asset to another entity or to exchange financial assets or financial liabilities with another entity under conditions that are potentially unfavorable to the Group. An instrument which will or may be settled in the Group’s own equity instruments is classified as an equity instrument, if it is a non-derivative that includes no contractual obligation for the Group to deliver a variable number of its own equity instruments; or a derivative that will be settled only by the Group exchanging a fixed amount of cash or another financial asset for a fixed number of its own equity instruments. In other cases an instrument is classified as a financial liability. |
Corporate Information (Tables)
Corporate Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of subsidiaries of the company | The principal subsidiaries of the Company, all of which have been included in these consolidated financial statements, are as follows: % equity interest Subsidiary Principal activity 2021 2020 Ozon Holding LLC Holding entity for Russia-based assets 100 % 100 % Internet Solutions LLC Internet retailer of consumer goods 100 % 100 % Internet Logistics LLC Management of fulfillment facilities 100 % 100 % Internet Travel LLC Internet retailer of travel services 100 % 100 % Ozon Technologies LLC IT services and development 100 % 100 % |
Significant Accounting Polici_3
Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Disclosure of estimated useful lives of lease right of use assets | Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease term and the estimated useful lives of the assets, as follows: Fulfillment and sorting centers 3-10 Office premises 2-7 Pick-up 3 Vehicles 3-4 |
Disclosure of estimated useful lives of the assets | Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets, as follows: Land Indefinite Buildings 16-50 Engineering facilities 5-30 Warehouse equipment 1-10 Transportation vehicles 4-7 Computer equipment 2-4 Other computer hardware and office facilities 1-10 Other assets 5-20 Leasehold improvements 3-10 |
Revenue From Contracts With C_2
Revenue From Contracts With Customers (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of the set out below disaggregation of group's revenue from contracts with customers | Set out below is the disaggregation of the Group’s revenue from contracts with customers by type and timing of revenue recognition: For the year ended December 31, 2021 At a point in Over time Total revenue Sales of goods 120,792 — 120,792 Service revenue: Marketplace commissions 44,345 — 44,345 Delivery services 2,219 531 2,750 Advertising revenue — 9,322 9,322 Travel commissions 316 113 429 Other revenue 577 — 577 Total service revenue 47,457 9,966 57,423 Total revenue 168,249 9,966 178,215 For the year ended December 31, 2020 At a point in Over time Total revenue Sales of goods 81,414 — 81,414 Service revenue: Marketplace commissions 16,503 — 16,503 Delivery services 1,481 280 1,761 Advertising revenue — 3,965 3,965 Travel commissions 425 20 445 Other revenue 262 — 262 Total service revenue 18,671 4,265 22,936 Total revenue 100,085 4,265 104,350 For the year ended December 31, 2019 At a point in Over time Total revenue Sales of goods 53,487 — 53,487 Service revenue: Marketplace commissions 2,132 — 2,132 Delivery services 1,574 184 1,758 Advertising revenue — 1,421 1,421 Travel commissions 950 237 1,187 Other revenue 119 — 119 Total service revenue 4,775 1,842 6,617 Total revenue 58,262 1,842 60,104 |
Summary of group's accounts receivable and contract liabilities from contracts with customers | The following table provides information about the Group’s accounts receivable and contract liabilities from contracts with customers: 2021 2020 Accounts receivable (included in the total accounts receivable in note 19) 3,379 1,550 Contract liabilities (note 26) (9,923 ) (5,231 ) |
Summary of group's right of return assets and refund liabilities from contracts with customers | The following table provides information about the Group’s right of return assets and refund liabilities from contracts with customers: 2021 2020 Right of return assets (note 18) 417 231 Refund liability arising from right of return (note 25) (462 ) (231 ) |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of reconciliation of net loss to adjusted EBITDA | 2021 2020 2019 Loss for the period (56,779 ) (22,264 ) (19,363 ) Income tax expense /(benefit) 2 230 (216 ) Total non-operating (2,079 ) 4,711 967 Depreciation and amortization 9,880 4,963 2,590 Share-based compensation expense 7,820 644 190 Adjusted EBITDA (41,156 ) (11,716 ) (15,832 ) |
Fulfillment And delivery Expe_2
Fulfillment And delivery Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of fulfillment and delivery expenses | 2021 2020 2019 Employee-related cost 17,810 8,417 6,029 Outsourcing services 13,709 5,103 1,889 Delivery fees 12,946 3,909 1,783 Transportation services and vehicle maintenance 9,183 3,367 2,097 Fees for cash collection 7,681 2,795 1,447 Depreciation and amortization 7,273 3,690 1,643 Premises maintenance and packaging costs 4,508 1,589 1,032 Share-based compensation expense 635 53 19 Other fulfillment and delivery expenses 2,495 1,753 869 76,240 30,676 16,808 |
Sales And Marketing Expenses (T
Sales And Marketing Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of detailed information about sales and marketing expenses | 2021 2020 2019 Online marketing 9,578 5,447 4,553 Media and PR 6,386 1,502 1,146 Employee-related cost 5,210 2,265 1,178 Share-based compensation expense 1,013 81 14 Outsourcing services 801 115 — Cost of arranging flexible payment options for customers 753 45 — Other sales and marketing expenses 954 560 262 24,695 10,015 7,153 |
Technology And Content Expens_2
Technology And Content Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of technology and content expenses | 2021 2020 2019 Employee-related cost 7,238 3,490 2,956 Share-based compensation expense 2,245 152 16 IT and telecommunication services 1,235 615 446 Acquisition of in-progress 370 — — Other technology and content expenses 334 137 102 11,422 4,394 3,520 |
General And Administrative Ex_2
General And Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of general and administrative expenses | 2021 2020 2019 Share-based compensation expense 3,927 358 141 Employee-related cost 3,686 1,600 924 Depreciation and amortization 2,607 1,273 947 Professional services 681 212 35 Insurance 286 — — Other general and administrative expenses 979 286 343 12,166 3,729 2,390 |
Investment In Associate (Tables
Investment In Associate (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of Significant Investments In associates | The table also reconciles the summarized financial information to the carrying amount of the Group’s interest in Litres. December 31, December 31, Current assets 1,141 805 Non-current 550 360 Current liabilities (1,072 ) (951 ) Non-current (108 ) (2 ) Net assets of the associate 511 212 Group’s share of net assets – 42.27% (2020: 42.27%) 217 90 Goodwill 964 964 Fair value adjustments (including the effect of the subsequent accounting) 57 57 Group’s carrying amount of the investment 1,238 1,111 2021 2020 2019 Revenue 6,742 5,077 3,823 Profit for the year 507 278 168 Total comprehensive income 507 278 168 The Group’s share of profit before fair value adjustments 214 118 71 Amortization of assets based on their fair values at acquisition (17 ) (6 ) (17 ) The Group’s share of total comprehensive income 197 112 54 |
Summary of Movement of the Investment In Associates | The movement of the investment in Litres is presented below: December 31, December 31, Carrying amount of the investment at the beginning of the year 1,111 1,139 Share of total comprehensive income 197 112 Dividends received / receivable (70 ) (140 ) Carrying amount of the investment at the end of the year 1,238 1,111 |
Income Tax (Tables)
Income Tax (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of major components of income tax expense / benefit | The major components of income tax expense / benefit for the years ended December 31, 2021, 2020 and 2019 are: 2021 2020 2019 Current income tax expense (58 ) (111 ) (9 ) Deferred tax (expense) / benefit 56 (119 ) 188 Tax provision — — 37 Income tax (expense) / benefit for the year (2 ) (230 ) 216 |
Summary of reconciliation of theoretical income tax based on the Russian statutory income tax rate and actual tax | Below is a reconciliation of theoretical income tax based on the Russian statutory income tax rate of 20% to the actual tax recorded in the consolidated statement of profit or loss and other comprehensive income: 2021 2020 2019 Loss before income tax (56,777 ) (22,034 ) (19,579 ) Income tax benefit calculated at Russia’s statutory tax rate (20%) 11,355 4,407 3,915 Effect of unrecognized deferred tax assets (10,227 ) (3,669 ) (3,463 ) Effect of non-deductible (827 ) (438 ) (234 ) Effect of accrued tax provision — — 37 Effect of foreign exchange gain/(loss) that is exempt from taxation 58 (255 ) (39 ) Effect of tax rates in foreign jurisdiction (361 ) (275 ) — Income tax (expense) / benefit for the year (2 ) (230 ) 216 |
Loss Per Share (Tables)
Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of basic and diluted EPS calculations | The following table reflects the loss and share data used in the basic and diluted loss per share calculations: 2021 2020 2019 Loss attributable to the parent entity (56,779 ) (22,264 ) (19,363 ) Effects of the settlement of preference shares classified as equity — 33 15 Loss attributable to ordinary equity holders of the parent entity (56,779 ) (22,231 ) (19,348 ) Weighted average number of ordinary shares 205,619,832 164,605,952 128,597,975 Basic and diluted loss per share (RUB) (276.1 ) (135.1 ) (150.4 ) |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Inventories [Abstract] | |
Summary of inventories | December 31, December 31, Merchandise held for resale and in transit 27,106 15,977 Right of return assets 417 231 Other inventories 752 216 Inventory valuation allowance (1,913 ) (1,082 ) 26,362 15,342 |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary Of Property, Plant and Equipment | Land Buildings Warehouse Computer Construction in-progress Total Cost Balance at January 1, 2020 80 1,823 4,136 2,928 1,325 10,292 Additions — — — — 6,669 6,669 Transfer — — 4,254 2,244 (6,498 ) — Disposals — — (93 ) (193 ) — (286 ) Balance at December 31, 2020 80 1,823 8,297 4,979 1,496 16,675 Additions 888 1,176 — — 18,198 20,262 Transfer — — 5,129 6,919 (12,048 ) — Disposals — — (218 ) (302 ) — (520 ) Translation difference — — — 1 — 1 Balance at December 31, 2021 968 2,999 13,208 11,597 7,646 36,418 Accumulated depreciation Balance at January 1, 2020 — (173 ) (947 ) (913 ) — (2,033 ) Charge for the year — (40 ) (780 ) (1,029 ) — (1,849 ) Disposals — — 80 130 — 210 Balance at December 31, 2020 — (213 ) (1,647 ) (1,812 ) — (3,672 ) Charge for the year — (40 ) (1,460 ) (1,698 ) — (3,198 ) Disposals — — 190 232 — 422 Translation difference — — — — — — Balance at December 31, 2021 — (253 ) (2,917 ) (3,278 ) — (6,448 ) Carrying amounts Balance at December 31, 2020 80 1,610 6,650 3,167 1,496 13,003 Balance at December 31, 2021 968 2,746 10,291 8,319 7,646 29,970 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure On Lease Liabilities [Abstract] | |
Summary of Right of Use Assets and Lease Liabilities and the Movements | Set out below, are the carrying amounts of the Group’s right-of-use Right-of-use Fulfillment Office Pick-up Vehicles Total Lease As at January 1, 2020 3,689 3,760 1,084 736 9,269 9,609 Additions 5,931 435 1,503 574 8,443 8,275 Remeasurement / modification 145 — (2 ) — 143 143 Change in use of leased premises 518 (518 ) — — — — Disposals (25 ) (6 ) (232 ) — (263 ) (275 ) Forgiveness of lease payments — — — — — (21 ) Depreciation expense (1,320 ) (647 ) (682 ) (364 ) (3,013 ) — Interest expense — — — — — 1,299 Payments — — — — — (3,540 ) As at December 31, 2020 8,938 3,024 1,671 946 14,579 15,490 Additions 15,935 2,845 150 1,719 20,649 20,440 Remeasurement / modification * 9,379 2,190 110 (12 ) 11,667 11,490 Disposals (126 ) (80 ) (259 ) — (465 ) (508 ) Depreciation expense (3,679 ) (1,508 ) (730 ) (571 ) (6,488 ) — Interest expense — — — — — 2,856 Payments — — — — — (7,297 ) Translation difference (2 ) — — — (2 ) (4 ) As at December 31, 2021 30,445 6,471 942 2,082 39,940 42,467 * i ncluding new facilities within the existing lease contracts |
Disclosure of Lease Commitments | The future undiscounted lease payments for these lease contracts are as follows: Within 1 year 1 to 3 years 3 to 5 years > 5 years Total December 31, 2021 4,611 19,176 18,273 45,311 87,371 December 31, 2020 848 6,175 6,730 5,368 19,121 The Group had security deposits related to lease agreements which amounted to 2,101 and 746 as at December 31, 2021 and December 31, 2020, respectively. |
Intangible Assets (Tables)
Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of intangible assets | Set out below, are the carrying amounts of the Group’s intangible assets and the movements during the period: Intangible Intangible assets with Total Cost Balance at January 1, 2020 — 414 414 Additions — 289 289 Disposals — (157 ) (157 ) Balance at December 31, 2020 — 546 546 Additions 233 823 1,056 Disposals — (145 ) (145 ) Translation difference — 1 1 Balance at December 31, 2021 233 1,225 1,458 Accumulated amortisation Balance at January 1, 2020 — (285 ) (285 ) Charge for the year — (101 ) (101 ) Disposals — 157 157 Balance at December 31, 2020 — (229 ) (229 ) Charge for the year — (194 ) (194 ) Disposals — 136 136 Translation difference — — — Balance at December 31, 2021 — (287 ) (287 ) Carrying amounts Balance at December 31, 2020 — 317 317 Balance at December 31, 2021 233 938 1,171 |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of Accounts Receivable [Abstract] | |
Summary of Accounts Receivable Explanatory | December 31, December 31, Accounts receivable 6,639 3,451 Allowance for expected credit losses and impaired receivables (28 ) (46 ) 6,611 3,405 Set out below is the movement in the allowance for expected credit losses of accounts receivable: 2021 2020 Balance at the beginning of the year (46 ) (83 ) Allowance for expected credit losses (68 ) (20 ) Amounts written off during the year as uncollectable 86 57 Balance at the end of the year (28 ) (46 ) |
Other Financial And Non Finan_2
Other Financial And Non Financial Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary Of Information About Other Financial And Non Financial Assets Explanatory | December 31, December 31, Other financial assets: Security deposits 2,101 746 Loans 286 — Other financial assets 2,387 746 Out of which: Non-current 2,312 746 Current 75 — Other non-financial Prepaid expenses 3,258 1,252 Prepaid employee benefits 730 89 Tax prepayment 42 14 Claims 118 74 Other non-financial 4,148 1,429 Out of which: Non-current 41 — Current 4,107 1,429 |
Cash ,Cash Equivalents and S_2
Cash ,Cash Equivalents and Short-Term Bank Deposits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Cash and cash equivalents [abstract] | |
Summary of Cash ,Cash Equivalents and Short-Term Bank Deposits | December 31, December 31, Short-term deposits 86,718 59,331 Current bank accounts 18,485 43,749 Cash in transit 2,803 606 Petty cash 31 16 Cash and cash equivalents 108,037 103,702 Short-term bank deposits with maturity exceeding 3 months 17,954 22 Cash, cash equivalents and short-term bank deposits 125,991 103,724 |
Share Capital, Share Premium _2
Share Capital, Share Premium And Other Capital Reserves (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary Of Share Capital And Share Premium | Quantity Millions of Russian Rubles Ordinary shares Preference Treasury Shares Share capital Share Treasury At December 31, 2019 137,472,875 134,575 — 137,607,450 6 32,053 — Issue of shares in the IPO 37,950,000 — — 37,950,000 3 85,899 — Issue of shares in the private placement 4,500,000 — — 4,500,000 — 10,186 — Issue of shares in conversion of loans 23,484,183 — — 23,484,183 2 11,088 — Issue of shares upon exercise of share-based awards — 188,325 — 188,325 — 33 — Conversion of preference shares 322,900 (322,900 ) — — — — — Issue of Class A shares 2 — — 2 — — — Transaction costs — — — — — (5,820 ) — At December 31, 2020 203,729,960 — — 203,729,960 11 133,439 — Issue of shares upon exercise of share-based awards 483,775 — — 483,775 — 9 — Issue of shares to employee-benefit trust 12,200,000 — (12,200,0 0 ) — 1 — (1 ) Release of shares from trust (note 27) — — 4,108,368 4,108,368 — 1,476 — At December 31, 2021 216,413,735 — (8,091,632 ) 208,322,103 12 134,924 (1 ) |
Summary Of Share Capital | Authorised Issued and fully paid December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Ordinary shares of USD 0.001 each 559,999,998 559,999,998 216,413,733 203,729,958 Class A shares of USD 0.001 each 2 2 2 2 560,000,000 560,000,000 216,413,735 203,729,960 |
Disclosure Of Information About Other Capital Reserves Explanatory | Other capital reserves Convertible Currency Total Balance at January 1, 2020 1,043 — 1,043 Convertible loan (1,043 ) — (1,043 ) Balance at December 31, 2020 — — — Other comprehensive income — (3 ) (3 ) Balance at December 31, 2021 — (3 ) (3 ) |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Disclosure Of Borrowings | Effective (2021 /2020) December 31, December 31, Currency Maturity (2021 /2020) Amount, incl. Amount, incl. Convertible bonds 5.1 % USD 2026 49,403 — Bank loans 10.0%/15.0 % RUB 2022/2021 9,954 6,639 Equipment financing 9.4%/9.8 % RUB 2022-2030/2021-2030 2,759 2,809 Total 62,116 9,448 Current 11,539 7,125 Non-current 50,577 2,323 |
Trade and Other Payables (Table
Trade and Other Payables (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of Detailed Information about Trade And Other Payables [Abstract] | |
Disclosure of detailed information about trade and other payables | December 31, December 31, Trade payables 59,417 32,437 Payables to third-party sellers on the marketplace platform 22,215 9,437 Payables under reverse factoring arrangements 6,874 223 Payroll payables, including related taxes 1,100 372 Other payables 185 154 Total 89,791 42,623 Current 89,273 42,545 Non-current 518 78 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure of detailed information about accrued expenses [Abstract] | |
Summary of detailed information about of accrued expenses | December 31, December 31, Holiday provision, including payroll related taxes 1,731 665 Employee bonuses, including payroll related taxes 1,507 309 Provision for reimbursements to third-party sellers 755 407 Refund liability 462 231 Tax provisions 239 65 Provision for legal claims 22 — Total 4,716 1,677 |
Contract Liabilities and Defer
Contract Liabilities and Deferred Income (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Disclosure Of Detailed Information Contract Liabilities And Deferred Income [Abstract] | |
Disclosure Of Contract Liabilities And Deferred Income | December 31, December 31, Contract liabilities 7,726 3,763 Unredeemed gift certificates 1,267 864 Loyalty points 452 148 Upfront fees under ADS 348 408 Ozon Premium 130 48 Total 9,923 5,231 Current 9,634 4,825 Non-current 289 406 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of number and weighted average exercise prices of share options | The following table reconciles awards outstanding at the beginning and the end of the year: Quantity Weighted Options: As at December 31, 2019 1,558,275 240 Granted — — Exercised — — Forfeited — — As at December 31, 2020 1,558,275 240 Granted — — Exercised (1,558,275 ) 240 Forfeited — — Cancelled — — As at December 31, 2021 — — Quantity Weighted SARs: As at December 31, 2019 652,900 257 Granted — — Exercised (8,050 ) 260 Forfeited (121,036 ) 258 As at December 31, 2020 523,814 257 Granted — — Exercised (249,875 ) 255 Forfeited — — Cancelled — — As at December 31, 2021 273,939 256 Exercisable as at December 31, 2021 273,939 256 Quantity Weighted RSUs: As at December 31, 2019 6,317,875 364 Granted 5,288,725 1,713 Exercised (187,850 ) 326 Forfeited (1,008,163 ) 411 As at December 31, 2020 10,410,587 1,047 Granted 6,158,277 3,687 Exercised (2,825,866 ) 308 Forfeited (358,222 ) 2,022 Cancelled (1,369 ) 3,986 As at December 31, 2021 13,383,407 2,366 Exercisable as at December 31, 2021 3,100,529 933 |
Summary of stockbased compensation expense | The following table summarizes total stock-based compensation expense / (reversal) by function for the years ended December 31, 2021, 2020 and 2019. 2021 2020 2019 Fulfillment and delivery (note 6) 635 53 19 Sales and marketing (note 7) 1,013 81 14 Technology and content (note 8) 2,245 152 16 General and administrative (note 9) 3,927 358 141 7,820 644 190 |
Summary of inputs to blackscholes model share options | The weighted average inputs used in the measurement of the fair values at grant date of the equity incentive plans for the years ended December 31, 2020 and 2019 are the following: 2020 2019 Expected annual volatility 48% 45% Expected term, years 4 4 Dividend yield None None Risk-free interest rate 5.7% 7.3% |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of transactions between related parties | The following table provides the total amount of transactions that have been entered into with related parties for the relevant financial year. Sales to related Purchases Amounts owed Amounts owed Entities with significant influence over the Group: Sistema PJSFC 2021 114 553 6 973 Sistema PJSFC 2020 — 193 — 9 Sistema PJSFC 2019 — 309 — 18 Associate: Litres 2021 7 1 1 2 Litres 2020 6 11 144 ** 2 Litres 2019 5 6 1 3 * The amounts are classified as accounts receivable and trade payables, respectively. ** Including 141 of accrued but not paid dividends for the year ended December 31, 2020. Purchases from Sistema PJSFC group of companies relate primarily to purchases of telecommunication services (phone service, internet, etc.), software products, property and other assets including right of use assets, payment collection and processing services, and factoring arrangements. |
Summary of transactions with key management personnel | The remuneration of key management personnel for the year ended December 31, 2021, 2020 and 2019 amounted to: 2021 2020 2019 Short-term employee benefits (i) 90 53 33 Share-based compensation expense (ii) 2,390 224 93 2,480 277 126 i. Short-term benefits include salaries, bonuses, paid annual leave and social security contributions. ii. Amounts related to the participation of the key management personnel in the incentive scheme posted in consolidated statements of profit or loss and other comprehensive income. |
Financial Instruments, Risk M_2
Financial Instruments, Risk Management and Capital Management (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Text Block [Abstract] | |
Summary of carrying amounts of financial assets and financial liabilities | December 31, December 31, Financial assets measured at amortized cost Cash and cash equivalents (note 21) 108,037 103,702 Short-term bank deposits (note 21) 17,954 22 Accounts receivable (note 19) 6,015 3,405 Other financial assets (note 20) 2,387 746 Financial assets measured at fair value through profit or loss (on recurring Accounts receivable (note 19) 596 — Total financial assets 134,989 107,875 Financial liabilities measured at amortized cost Trade and other payables (note 24) 89,791 42,623 Lease liabilities (note 15) 42,467 15,490 Convertible bonds (note 23) 49,403 — Borrowings (note 23) 12,713 9,448 Financial liabilities measured at fair value through profit or loss (on recurring basis) Conversion options 594 — Total financial liabilities 194,968 67,561 |
Summary of fair value of assets and liabilities, including those measured at fair value on a recurring basis | Fair value December 31, December 31, Financial assets measured at fair value through profit and loss Accounts receivable Level 3 596 596 Total assets 596 596 Financial liabilities measured at amortized cost Convertible bonds (note 23) Level 2 49,403 45,036 Financial liabilities measured at fair value through profit and loss (on Conversion options (note 23) Level 2 594 594 Total financial liabilities 49,997 45,630 |
Summary of carrying amounts of the groups foreign currency denominated monetary assets and monetary liabilities | The carrying amounts of the Group’s foreign currency denominated monetary assets and monetary liabilities at the end of the reporting period are as follows: USD denominated EUR denominated 2021 2020 2021 2020 Assets 69,192 68,224 42 58 Liabilities (50,595 ) (314 ) (477 ) (94 ) Net position 18,597 67,910 (435 ) (36 ) |
Summary of Foreign currency sensitivity | The Group’s exposure to foreign currency changes for all other currencies is not material. Change in Effect on profit before tax Year ended December 31, 2021 USD +50%/-50% 9,299 / (9,299) EUR +50%/-50% (218) / 218 Year ended December 31, 2020 USD +30%/-30% 20,373 / (20,373) EUR +30%/-30% (11) / 11 |
Summary of detailed information about maximum exposure to credit risk | The carrying amount of financial assets represents the maximum credit exposure. The maximum exposure to credit risk at the reporting date was: December 31, December 31, Accounts receivables (note 19) 6,611 3,405 Short-term bank deposits (note 21) 17,954 22 Cash and cash equivalents (note 21) 108,037 103,702 Total credit exposure 132,602 107,129 |
Summary of maturity profile of the groups financial liabilities based on contractual undiscounted payments | The table below summarizes the maturity profile of the Group’s financial liabilities based on contractual undiscounted payments: On demand Within 1 year 1 to 3 years 3 to 5 years > 5 years Total 2021 Trade and other payables — 89,322 328 122 222 89,994 Borrowings — 12,328 3,217 57,881 1,218 74,644 Lease liabilities — 11,794 20,500 12,900 12,507 57,701 Total financial liabilities — 113,444 24,045 70,903 13,947 222,339 On demand Within 1 year 1 to 3 years 3 to 5 years > 5 years Total 2020 Trade and other payables — 42,545 78 — — 42,623 Borrowings — 7,582 1,121 572 1,521 10,796 Lease liabilities — 4,763 7,637 4,845 2,865 20,110 Total financial liabilities — 54,890 8,836 5,417 4,386 73,529 |
Summary of reconciliation of liabilities arising from financing activities | The table below details changes in the Group’s liabilities arising from financing activities, including both cash and non-cash January 1, Financing New leases (non-cash) Bifurcation of (non-cash) Exchange Change in Other (non-cash) December 31, Borrowings 9,448 58,348 — (6,958 ) 219 — 1,059 62,116 Conversion — — — 6,958 — (6,364 ) — 594 Lease liabilities 15,490 (4,769 ) 31,423 — — — 323 42,467 24,938 53,579 31,423 — 219 (6,364 ) 1,382 105,177 January 1, Financing New leases (non-cash) Conversion Other December 31, Borrowings 4,116 8,212 — (3,594 ) 714 9,448 Lease liabilities 9,609 (2,296 ) 8,122 — 55 15,490 13,725 5,916 8,122 (3,594 ) 769 24,938 |
Corporate Information - Summary
Corporate Information - Summary Of Subsidiaries Of The Company (Detail) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Internet Solutions LLC [member] | ||
Disclosure of subsidiaries [line items] | ||
Subsidiary | Internet Solutions LLC | |
Principal Activity | Internet retailer of consumer goods | |
% equity interest | 100.00% | 100.00% |
Internet Logistics LLC [member] | ||
Disclosure of subsidiaries [line items] | ||
Subsidiary | Internet Logistics LLC | |
Principal Activity | Management of fulfillment facilities | |
% equity interest | 100.00% | 100.00% |
Internet Travel LLC [member] | ||
Disclosure of subsidiaries [line items] | ||
Subsidiary | Internet Travel LLC | |
Principal Activity | Internet retailer of travel services | |
% equity interest | 100.00% | 100.00% |
Ozon Technologies LLC [member] | ||
Disclosure of subsidiaries [line items] | ||
Subsidiary | Ozon Technologies LLC | |
Principal Activity | IT services and development | |
% equity interest | 100.00% | 100.00% |
Ozon Holding LLC [Member] | ||
Disclosure of subsidiaries [line items] | ||
Subsidiary | Ozon Holding LLC | |
Principal Activity | Holding entity for Russia-based assets | |
% equity interest | 100.00% | 100.00% |
Corporate Information - Additio
Corporate Information - Additional Information (Detail) - shares | 12 Months Ended | |
Dec. 31, 2021 | Nov. 27, 2020 | |
Disclosure of classes of share capital [line items] | ||
Additional number of shares issued | 4,500,000 | |
Sistema PJSFC [Member] | ||
Disclosure of classes of share capital [line items] | ||
Proportion of ownership interest in associate | 33.00% | |
Baring Vostok Private Equity Funds [member] | ||
Disclosure of classes of share capital [line items] | ||
Proportion of ownership interest in associate | 32.60% | |
Ordinary shares [member] | ||
Disclosure of classes of share capital [line items] | ||
Number of shares issued | 37,950,000 | |
American depositary shares [member] | ||
Disclosure of classes of share capital [line items] | ||
Number of shares issued | 37,950,000 |
Significant Accounting Polici_4
Significant Accounting Policies - Summary of Right of Use Assets (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Pick Up Points [member] | |
Disclosure Of Right Of Use Assets Lease Term And The Estimated Useful Lives Of The Asset [Line Items] | |
Right-of-use assets lease term | 3 years |
Bottom of range [member] | Fulfillment and sorting centers [member] | |
Disclosure Of Right Of Use Assets Lease Term And The Estimated Useful Lives Of The Asset [Line Items] | |
Right-of-use assets lease term | 3 years |
Bottom of range [member] | Office premises [member] | |
Disclosure Of Right Of Use Assets Lease Term And The Estimated Useful Lives Of The Asset [Line Items] | |
Right-of-use assets lease term | 2 years |
Bottom of range [member] | Vehicles [member] | |
Disclosure Of Right Of Use Assets Lease Term And The Estimated Useful Lives Of The Asset [Line Items] | |
Right-of-use assets lease term | 3 years |
Top of range [member] | Fulfillment and sorting centers [member] | |
Disclosure Of Right Of Use Assets Lease Term And The Estimated Useful Lives Of The Asset [Line Items] | |
Right-of-use assets lease term | 10 years |
Top of range [member] | Office premises [member] | |
Disclosure Of Right Of Use Assets Lease Term And The Estimated Useful Lives Of The Asset [Line Items] | |
Right-of-use assets lease term | 7 years |
Top of range [member] | Vehicles [member] | |
Disclosure Of Right Of Use Assets Lease Term And The Estimated Useful Lives Of The Asset [Line Items] | |
Right-of-use assets lease term | 4 years |
Significant Accounting Polici_5
Significant Accounting Policies - Summary of Depreciation Calculated on Straight-Line Basis Over the Estimated Useful Lives of the Assets (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Land [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Description of useful life, property, plant and equipment | Indefinite |
Bottom of range [member] | Buildings [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 16 years |
Bottom of range [member] | Engineering facilities [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 5 years |
Bottom of range [member] | Warehouse equipment [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 1 year |
Bottom of range [member] | Transportation vehicles [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 4 years |
Bottom of range [member] | Computer equipment [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 2 years |
Bottom of range [member] | Other computer hardware and office facilities [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 1 year |
Bottom of range [member] | Other assets [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 5 years |
Bottom of range [member] | Leasehold improvements [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 3 years |
Top of range [member] | Buildings [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 50 years |
Top of range [member] | Engineering facilities [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 30 years |
Top of range [member] | Warehouse equipment [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 10 years |
Top of range [member] | Transportation vehicles [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 7 years |
Top of range [member] | Computer equipment [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 4 years |
Top of range [member] | Other computer hardware and office facilities [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 10 years |
Top of range [member] | Other assets [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 20 years |
Top of range [member] | Leasehold improvements [member] | |
Disclosure Of Estimated Useful Lives Of The Assets [Line Items] | |
Useful life measured as period of time, property, plant and equipment | 10 years |
Significant Accounting Polici_6
Significant Accounting Policies - Additional Information (Detail) $ / shares in Units, ₽ in Millions, $ in Millions | Mar. 08, 2022USD ($)$ / shares | Dec. 31, 2021RUB (₽) | Mar. 31, 2022RUB (₽) | Dec. 31, 2020RUB (₽) |
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | ||||
Applicable tax rate | 20.00% | |||
Cash, cash equivalents and short-term bank deposits | ₽ 125,991 | ₽ 103,724 | ||
Net Current Assets | ₽ 42,650 | ₽ 64,597 | ||
Borrowings, maturity | 2026 | |||
Events After Reporting Period [Member] | ||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | ||||
Cash, cash equivalents and short-term bank deposits | ₽ 92,500 | |||
Unsecured Senior Convertible Bonds [Member] | Events After Reporting Period [Member] | ||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | ||||
Borrowings, interest rate | 1.875% | |||
Redemption Date Of Bonds | May 31, 2022 | |||
Borrowings Conversion Price | $ / shares | $ 86.65 | |||
Notional Amount | $ | $ 750 | |||
Russia [member] | ||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | ||||
Applicable tax rate | 20.00% | |||
Cyprus [member] | ||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | ||||
Applicable tax rate | 12.50% | |||
KAZAKHSTAN | ||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | ||||
Applicable tax rate | 20.00% | |||
BELARUS | ||||
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | ||||
Applicable tax rate | 18.00% |
Revenue From Contracts With C_3
Revenue From Contracts With Customers - Summary of the Set Out Below the Disaggregation of the Group's Revenue from Contracts with Customers (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Sales of goods | ₽ 120,792 | ₽ 81,414 | ₽ 53,487 |
Service revenue: | |||
Marketplace commission | 44,345 | 16,503 | 2,132 |
Delivery services | 2,750 | 1,761 | 1,758 |
Advertising revenue | 9,322 | 3,965 | 1,421 |
Travel commissions | 429 | 445 | 1,187 |
Other revenue | 577 | 262 | 119 |
Total service revenue | 57,423 | 22,936 | 6,617 |
Total revenue | 178,215 | 104,350 | 60,104 |
At a point in time [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Sales of goods | 120,792 | 81,414 | 53,487 |
Service revenue: | |||
Marketplace commission | 44,345 | 16,503 | 2,132 |
Delivery services | 2,219 | 1,481 | 1,574 |
Advertising revenue | 0 | 0 | 0 |
Travel commissions | 316 | 425 | 950 |
Other revenue | 577 | 262 | 119 |
Total service revenue | 47,457 | 18,671 | 4,775 |
Total revenue | 168,249 | 100,085 | 58,262 |
Over time [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Sales of goods | 0 | 0 | 0 |
Service revenue: | |||
Marketplace commission | 0 | 0 | 0 |
Delivery services | 531 | 280 | 184 |
Advertising revenue | 9,322 | 3,965 | 1,421 |
Travel commissions | 113 | 20 | 237 |
Other revenue | 0 | 0 | 0 |
Total service revenue | 9,966 | 4,265 | 1,842 |
Total revenue | ₽ 9,966 | ₽ 4,265 | ₽ 1,842 |
Revenue From Contracts With C_4
Revenue From Contracts With Customers - Summary of the Group's Accounts Receivable and Contract Liabilities from Contracts with Customers (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of Groups Accounts Receivable And Contract Liabilities From Contracts With Customers [Line Items] | ||
Accounts receivable (included in the total accounts receivable in note 19) | ₽ 3,379 | ₽ 1,550 |
Contract liabilities (note 26) | ₽ (9,923) | ₽ (5,231) |
Revenue From Contracts With C_5
Revenue From Contracts With Customers - Summary of the Group's Right of Return Assets and Refund Liabilities from Contracts with Customers (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Groups Right Of Return Assets And Refund Liabilities From Contracts With Customers [Line Items] | ||
Right of return assets (note 18) | ₽ 417 | ₽ 231 |
Refund liability arising from right of return (note 25) | ₽ (462) | ₽ (231) |
Segment Information - Summary o
Segment Information - Summary of Reconciliation of Net Income Loss to Adjusted EBITDA (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Detailed Information About Reconciliation Of Net Income Loss To Adjusted EBITDA Explanatory [Abstract] | |||
Loss for the period | ₽ (56,779) | ₽ (22,264) | ₽ (19,363) |
Income tax expense /(benefit) | 2 | 230 | (216) |
Total non-operating (income)/expense | (2,079) | 4,711 | 967 |
Depreciation and amortization | 9,880 | 4,963 | 2,590 |
Share-based compensation expense | 7,820 | 644 | 190 |
Adjusted EBITDA | ₽ (41,156) | ₽ (11,716) | ₽ (15,832) |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Text Block [Abstract] | |||
Concentrate percentage of revenue on segment | 99.00% | 99.00% | 98.00% |
Fulfillment And Delivery Expe_3
Fulfillment And Delivery Expenses - Summary of Fulfillment and Delivery Expenses (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Detailed Information About Fulfillment And Delivery Expenses [Abstract] | |||
Employee-related cost | ₽ 17,810 | ₽ 8,417 | ₽ 6,029 |
Outsourcing services | 13,709 | 5,103 | 1,889 |
Delivery fees | 12,946 | 3,909 | 1,783 |
Transportation services and vehicle maintenance | 9,183 | 3,367 | 2,097 |
Fees for cash collection | 7,681 | 2,795 | 1,447 |
Depreciation and amortization | 7,273 | 3,690 | 1,643 |
Premises maintenance and packaging costs | 4,508 | 1,589 | 1,032 |
Share-based compensation expense | 635 | 53 | 19 |
Other fulfillment and delivery expenses | 2,495 | 1,753 | 869 |
Fulfillment and delivery expenses | ₽ 76,240 | ₽ 30,676 | ₽ 16,808 |
Sales And Marketing Expenses -
Sales And Marketing Expenses - Summary of Detailed Information about Sales and Marketing Expenses (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about Sales and marketing expenses [Abstract] | |||
Online marketing | ₽ 9,578 | ₽ 5,447 | ₽ 4,553 |
Media and PR | 6,386 | 1,502 | 1,146 |
Employee-related cost | 5,210 | 2,265 | 1,178 |
Share-based compensation expense | 1,013 | 81 | 14 |
Outsourcing services | 801 | 115 | 0 |
Cost of arranging flexible payment options for customers | 753 | 45 | 0 |
Other sales and marketing expenses | 954 | 560 | 262 |
Total | ₽ 24,695 | ₽ 10,015 | ₽ 7,153 |
Technology And Content Expens_3
Technology And Content Expenses - Summary of Technology and Content Expenses (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about Technology and content expenses [Abstract] | |||
Employee-related cost | ₽ 7,238 | ₽ 3,490 | ₽ 2,956 |
Share-based compensation expense | 2,245 | 152 | 16 |
IT and telecommunication services | 1,235 | 615 | 446 |
Acquisition of in-progress research and development | 370 | 0 | 0 |
Other technology and content expenses | 334 | 137 | 102 |
Total | ₽ 11,422 | ₽ 4,394 | ₽ 3,520 |
General And Administrative Ex_3
General And Administrative Expenses - Summary of General and Administrative Expenses (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about General And Administrative Expenses [Abstract] | |||
Share-based compensation expense | ₽ 3,927 | ₽ 358 | ₽ 141 |
Employee-related cost | 3,686 | 1,600 | 924 |
Depreciation and amortization | 2,607 | 1,273 | 947 |
Professional services | 681 | 212 | 35 |
Insurance | 286 | 0 | 0 |
Other general and administrative expenses | 979 | 286 | 343 |
Total | ₽ 12,166 | ₽ 3,729 | ₽ 2,390 |
Investment In Associate - Summa
Investment In Associate - Summary of Significant Investments in Associates (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of associates [line items] | |||
Current assets | ₽ 166,586 | ₽ 124,808 | |
Non-current assets | 74,752 | 29,800 | |
Current liabilities | (123,936) | (60,211) | |
Non-current liabilities | (86,794) | (15,140) | |
Group's carrying amount of the investment | 1,238 | 1,111 | |
Revenue | 178,215 | 104,350 | ₽ 60,104 |
Profit for the year | (56,779) | (22,264) | (19,363) |
Total comprehensive income | (56,782) | (22,264) | (19,363) |
The Group's share of total comprehensive income | 197 | 112 | 54 |
Litres Holdings Limited [Member] | |||
Disclosure of associates [line items] | |||
Current assets | 1,141 | 805 | |
Non-current assets | 550 | 360 | |
Current liabilities | (1,072) | (951) | |
Non-current liabilities | (108) | (2) | |
Net assets of the associate | 511 | 212 | |
Group's share of net assets – 42.27% (2020: 42.27%) | 217 | 90 | |
Goodwill | 964 | 964 | |
Fair value adjustments (including the effect of the subsequent accounting) | 57 | 57 | |
Group's carrying amount of the investment | 1,238 | 1,111 | 1,139 |
Revenue | 6,742 | 5,077 | 3,823 |
Profit for the year | 507 | 278 | 168 |
Total comprehensive income | 507 | 278 | 168 |
The Group's share of profit before fair value adjustments | 214 | 118 | 71 |
Amortization of assets based on their fair values at acquisition | (17) | (6) | (17) |
The Group's share of total comprehensive income | ₽ 197 | ₽ 112 | ₽ 54 |
Investment In Associate - Sum_2
Investment In Associate - Summary of Significant Investments in Associates (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Litres Holdings Limited [Member] | ||
Statements [Line Items] | ||
Proportion of ownership interest in associate | 42.27% | 42.27% |
Investment In Associate - Sum_3
Investment In Associate - Summary of Movement of the investment in Associates (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of movement of the investment in associates [Line Items] | |||
Carrying amount of the investment at the beginning of the year | ₽ 1,111 | ||
Share of total comprehensive income | 197 | ₽ 112 | ₽ 54 |
Carrying amount of the investment at the end of the year | 1,238 | 1,111 | |
Litres Holdings Limited [Member] | |||
Disclosure of movement of the investment in associates [Line Items] | |||
Carrying amount of the investment at the beginning of the year | 1,111 | 1,139 | |
Share of total comprehensive income | 197 | 112 | 54 |
Dividends received / receivable | (70) | (140) | |
Carrying amount of the investment at the end of the year | ₽ 1,238 | ₽ 1,111 | ₽ 1,139 |
Investment In Associate - Addit
Investment In Associate - Additional Information (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Statements [Line Items] | ||
Capital commitments | ₽ 0 | ₽ 0 |
Litres Holdings Limited [Member] | ||
Statements [Line Items] | ||
Proportion of ownership interest in associate | 42.27% | 42.27% |
Other Non-Operating Expenses -
Other Non-Operating Expenses - Additional Information (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Text Block [Abstract] | |||
Other non-operating expenses | ₽ 0 | ₽ 1,000 | ₽ 0 |
Income Tax - Summary of Major C
Income Tax - Summary of Major Components of Income Tax Expense / Benefit (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Major components of tax expense / benefit | |||
Current income tax expense | ₽ (58) | ₽ (111) | ₽ (9) |
Deferred tax (expense) / benefit | 56 | (119) | 188 |
Tax provision | 0 | 0 | 37 |
Income tax (expense) / benefit | ₽ (2) | ₽ (230) | ₽ 216 |
Income Taxes - Summary of Recon
Income Taxes - Summary of Reconciliation of Theoretical Income Tax Based on the Russian Statutory Income Tax Rate and Actual Tax (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||
Loss before income tax | ₽ (56,777) | ₽ (22,034) | ₽ (19,579) |
Income tax benefit calculated at Russia's statutory tax rate (20%) | 11,355 | 4,407 | 3,915 |
Effect of unrecognized deferred tax assets | (10,227) | (3,669) | (3,463) |
Effect of non-deductible expenses in determining taxable profit | (827) | (438) | (234) |
Effect of accrued tax provision | 0 | 0 | 37 |
Effect of foreign exchange gain/(loss) that is exempt from taxation | 58 | (255) | (39) |
Effect of tax rates in foreign jurisdiction | (361) | (275) | 0 |
Income tax (benefit) / expense | ₽ (2) | ₽ (230) | ₽ 216 |
Income Taxes - Summary of Rec_2
Income Taxes - Summary of Reconciliation of Theoretical Income Tax Based on the Russian Statutory Income Tax Rate and Actual (Parenthetical) (Detail) | 12 Months Ended |
Dec. 31, 2021 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |
Applicable Tax Rate | 20.00% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax [Line Items] | ||
Unused tax losses not expired for which no deferred tax asset recognised | ₽ 88,289 | ₽ 43,700 |
Deductible temporary differences for which no deferred tax asset is recognised | ₽ 11,894 | ₽ 2,430 |
Description of Tax Losses Expiration year | tax losses of 7 expires within 1 year, 10 within 2 years, 123 within 3 years, 2 within 4 years and 409 within 5 years. | |
No Expiration Period [Member] | ||
Income Tax [Line Items] | ||
Unused tax losses not expired for which no deferred tax asset recognised | ₽ 87,738 |
Loss Per Share - Summary of Bas
Loss Per Share - Summary of Basic and Diluted EPS Calculations (Detail) - RUB (₽) ₽ / shares in Units, ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Earning Per Share [Abstract] | |||
Loss attributable to the parent entity | ₽ (56,779) | ₽ (22,264) | ₽ (19,363) |
Effects of the settlement of preference shares classified as equity | 0 | 33 | 15 |
Loss attributable to ordinary equity holders of the parent entity | ₽ (56,779) | ₽ (22,231) | ₽ (19,348) |
Weighted average number of ordinary shares | 205,619,832 | 164,605,952 | 128,597,975 |
Basic and diluted loss per share (RUB) | ₽ (276.1) | ₽ (135.1) | ₽ (150.4) |
Property, Plant and Equipment -
Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | ₽ 16,675 | ₽ 10,292 |
Additions | 20,262 | 6,669 |
Disposals | (520) | (286) |
Translation difference | 1 | |
Ending balance | 36,418 | 16,675 |
Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (3,672) | (2,033) |
Disposals | 422 | 210 |
Charge for the year | (3,198) | (1,849) |
Ending balance | (6,448) | (3,672) |
Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 13,003 | |
Ending balance | 29,970 | 13,003 |
Land [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 80 | 80 |
Additions | 888 | |
Ending balance | 968 | 80 |
Land [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 80 | |
Ending balance | 968 | 80 |
Buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,823 | 1,823 |
Additions | 1,176 | |
Ending balance | 2,999 | 1,823 |
Buildings [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (213) | (173) |
Charge for the year | (40) | (40) |
Ending balance | (253) | (213) |
Buildings [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,610 | |
Ending balance | 2,746 | 1,610 |
Warehouse equipment and facilities [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 8,297 | 4,136 |
Transfer | 5,129 | 4,254 |
Disposals | (218) | (93) |
Ending balance | 13,208 | 8,297 |
Warehouse equipment and facilities [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (1,647) | (947) |
Disposals | 190 | 80 |
Charge for the year | (1,460) | (780) |
Ending balance | (2,917) | (1,647) |
Warehouse equipment and facilities [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 6,650 | |
Ending balance | 10,291 | 6,650 |
Computer and office equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 4,979 | 2,928 |
Transfer | 6,919 | 2,244 |
Disposals | (302) | (193) |
Translation difference | 1 | |
Ending balance | 11,597 | 4,979 |
Computer and office equipment [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (1,812) | (913) |
Disposals | 232 | 130 |
Charge for the year | (1,698) | (1,029) |
Ending balance | (3,278) | (1,812) |
Computer and office equipment [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 3,167 | |
Ending balance | 8,319 | 3,167 |
Construction in-progress and advances for PP&E [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,496 | 1,325 |
Additions | 18,198 | 6,669 |
Transfer | (12,048) | (6,498) |
Ending balance | 7,646 | 1,496 |
Construction in-progress and advances for PP&E [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,496 | |
Ending balance | ₽ 7,646 | ₽ 1,496 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Additional Information (Detail) - Carrying amount [member] - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, pledged as security | ₽ 240 | ₽ 297 |
Property Plant And Equipment Held Under Sale And Lease back Arrangement | ₽ 1,782 | ₽ 1,844 |
Leases - Summary of Right of Us
Leases - Summary of Right of Use Assets and Lease Liabilities and the Movements (Details) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of quantitative information about lease liabilities [line items] | ||
Balance at beginning of period | ₽ 14,579 | ₽ 9,269 |
Additions | 20,649 | 8,443 |
Remeasurement / modification | 11,667 | 143 |
Depreciation expense | (6,488) | (3,013) |
Disposals | (465) | (263) |
Translation difference | (2) | |
Balance at End of Period | 39,940 | 14,579 |
Lease liabilities [Member] | ||
Disclosure of quantitative information about lease liabilities [line items] | ||
Beginning balance | 15,490 | 9,609 |
Interest expense | 2,856 | 1,299 |
Payments | (7,297) | (3,540) |
Additions | 20,440 | 8,275 |
Remeasurement / modification | 11,490 | 143 |
Change in use of leased premises | 0 | |
Disposals | (508) | (275) |
Forgiveness of lease payments | (21) | |
Translation difference | (4) | |
Ending Balance | 42,467 | 15,490 |
Fulfillment and sorting centers [member] | ||
Disclosure of quantitative information about lease liabilities [line items] | ||
Balance at beginning of period | 8,938 | 3,689 |
Additions | 15,935 | 5,931 |
Remeasurement / modification | 9,379 | 145 |
Depreciation expense | (3,679) | (1,320) |
Change in use of leased premises | 518 | |
Disposals | (126) | (25) |
Translation difference | (2) | |
Balance at End of Period | 30,445 | 8,938 |
Office premises [member] | ||
Disclosure of quantitative information about lease liabilities [line items] | ||
Balance at beginning of period | 3,024 | 3,760 |
Additions | 2,845 | 435 |
Remeasurement / modification | 2,190 | |
Depreciation expense | (1,508) | (647) |
Change in use of leased premises | (518) | |
Disposals | (80) | (6) |
Balance at End of Period | 6,471 | 3,024 |
Pick Up Points [member] | ||
Disclosure of quantitative information about lease liabilities [line items] | ||
Balance at beginning of period | 1,671 | 1,084 |
Additions | 150 | 1,503 |
Remeasurement / modification | 110 | (2) |
Depreciation expense | (730) | (682) |
Disposals | (259) | (232) |
Balance at End of Period | 942 | 1,671 |
Vehicles [member] | ||
Disclosure of quantitative information about lease liabilities [line items] | ||
Balance at beginning of period | 946 | 736 |
Additions | 1,719 | 574 |
Remeasurement / modification | (12) | |
Depreciation expense | (571) | (364) |
Balance at End of Period | ₽ 2,082 | ₽ 946 |
Leases - Disclosure of Lease Co
Leases - Disclosure of Lease Commitments (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Maturity Of Lease Committments [Line Items] | ||
Lease committment | ₽ 87,371 | ₽ 19,121 |
Within 1 year [Member] | ||
Disclosure Of Maturity Of Lease Committments [Line Items] | ||
Lease committment | 4,611 | 848 |
1 to 3 years [Member] | ||
Disclosure Of Maturity Of Lease Committments [Line Items] | ||
Lease committment | 19,176 | 6,175 |
3 to 5 years [Member] | ||
Disclosure Of Maturity Of Lease Committments [Line Items] | ||
Lease committment | 18,273 | 6,730 |
> 5 years [Member] | ||
Disclosure Of Maturity Of Lease Committments [Line Items] | ||
Lease committment | ₽ 45,311 | ₽ 5,368 |
Leases - Additional Information
Leases - Additional Information (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of Quantitative Information About RightofUse Assets and Liabilities [Line Items] | ||
Expense relating to variable lease payments | ₽ 402 | ₽ 169 |
Security deposits from leases | ₽ 2,101 | ₽ 746 |
Bottom of range [member] | ||
Disclosure of Quantitative Information About RightofUse Assets and Liabilities [Line Items] | ||
Lease commitment, term of contract | 9 months | |
Top of range [member] | ||
Disclosure of Quantitative Information About RightofUse Assets and Liabilities [Line Items] | ||
Lease commitment, term of contract | 14 years |
Intangible Assets - Summary of
Intangible Assets - Summary of Intangible Assets (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, Beginning Balance | ₽ 317 | |
Intangible assets, Ending Balance | 1,171 | ₽ 317 |
Intangible assets with indefinite useful life [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets with indefinite useful life , Ending Balance | 233 | |
Intangible assets with definite useful life [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, Beginning Balance | 317 | |
Intangible assets, Ending Balance | 938 | 317 |
Cost | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, Beginning Balance | 546 | 414 |
Additions | 1,056 | 289 |
Disposals | (145) | (157) |
Translation difference | 1 | |
Intangible assets, Ending Balance | 1,458 | 546 |
Cost | Intangible assets with indefinite useful life [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Additions | 233 | |
Intangible assets with indefinite useful life , Ending Balance | 233 | |
Cost | Intangible assets with definite useful life [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, Beginning Balance | 546 | 414 |
Additions | 823 | 289 |
Disposals | (145) | (157) |
Translation difference | 1 | |
Intangible assets, Ending Balance | 1,225 | 546 |
Accumulated depreciation | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, Beginning Balance | (229) | (285) |
Charge for the year | (194) | (101) |
Disposals | 136 | 157 |
Intangible assets, Ending Balance | (287) | (229) |
Accumulated depreciation | Intangible assets with definite useful life [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, Beginning Balance | (229) | (285) |
Charge for the year | (194) | (101) |
Disposals | 136 | 157 |
Intangible assets, Ending Balance | ₽ (287) | ₽ (229) |
Acquisition of Group of Assets
Acquisition of Group of Assets - Additional Information (Detail) - Oney Bank LLC [Member] ₽ in Millions | May 31, 2021RUB (₽) |
Disclosure Of Acquisition Of Group Of Assets [Line Items] | |
Percentage of participation interests acquired | 100.00% |
Total cash consideration | ₽ 615 |
Indefinite useful life license intangible assets recognized as of acquisition date | 233 |
Cash and cash equivalents recognized as of acquisition date | 375 |
Non-financial assets recognized on acquisition date | ₽ 7 |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Inventories [Line Items] | ||
Merchandise held for resale and in transit | ₽ 27,106 | ₽ 15,977 |
Right of return assets | 417 | 231 |
Other inventories | 752 | 216 |
Inventory valuation allowance | (1,913) | (1,082) |
Inventories | ₽ 26,362 | ₽ 15,342 |
Inventories - Additional Inform
Inventories - Additional Information (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Inventories [Line Items] | ||
Cost of inventories recognised as expense during period | ₽ 116,900 | ₽ 75,929 |
Rebates and subsidies expense | 9,490 | 4,871 |
Inventories, at net realisable value | 831 | 173 |
Write-downs and losses of inventories | ₽ 2,486 | ₽ 309 |
Accounts Receivables - Allowanc
Accounts Receivables - Allowance for Expected Credit Losses (Details) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts Receivables [Line Items] | ||
Balance at the beginning of the year | ₽ (46) | ₽ (83) |
Allowance for expected credit losses | (68) | (20) |
Amounts written off during the year as uncollectable | 86 | 57 |
Balance at the end of the year | ₽ (28) | ₽ (46) |
Accounts Receivables - Summary
Accounts Receivables - Summary of Accounts Receivables (Details) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Accounts Receivables [Line Items] | |||
Accounts receivable | ₽ 6,611 | ₽ 3,405 | |
Allowance for expected credit losses and impaired receivables | (28) | (46) | ₽ (83) |
Trade receivables [member] | |||
Accounts Receivables [Line Items] | |||
Accounts receivable | ₽ 6,639 | ₽ 3,451 |
Other Financial And Non Finan_3
Other Financial And Non Financial Assets - Summary Of Information About Other Financial And Non Financial Assets Explanatory (Details) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Other financial assets: | ||
Security deposits | ₽ 2,101 | ₽ 746 |
Loans | 286 | 0 |
Other financial assets | 2,387 | 746 |
Out of which: | ||
Non-current | 2,312 | 746 |
Current | 75 | 0 |
Other non-financial assets: | ||
Prepaid expenses | 3,258 | 1,252 |
Prepaid employee benefits | 730 | 89 |
Tax prepayment | 42 | 14 |
Claims | 118 | 74 |
Other non-financial assets | 4,148 | 1,429 |
Out of which: | ||
Non-current | 41 | 0 |
Current | ₽ 4,107 | ₽ 1,429 |
Cash ,Cash Equivalents and S_3
Cash ,Cash Equivalents and Short-Term Bank Deposits - Summary of Cash and Cash Equivalent (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure of Cash, Cash Equivalents And Short-term Bank Deposits [Line Items] | ||||
Short-term deposits | ₽ 86,718 | ₽ 59,331 | ||
Current bank accounts | 18,485 | 43,749 | ||
Cash in transit | 2,803 | 606 | ||
Petty cash | 31 | 16 | ||
Cash and cash equivalents | 108,037 | 103,702 | ₽ 2,994 | ₽ 2,684 |
Short-term bank deposits with maturity exceeding 3 months | 17,954 | 22 | ||
Cash, cash equivalents and short-term bank deposits | ₽ 125,991 | ₽ 103,724 |
Share Capital, Share Premium _3
Share Capital, Share Premium And Other Capital Reserves - Additional Information (Detail) ₽ in Millions | Dec. 31, 2021RUB (₽)shares | Nov. 27, 2020RUB (₽)shares | Oct. 31, 2020$ / sharesshares | Nov. 30, 2020shares | Apr. 30, 2020RUB (₽) | Dec. 31, 2021RUB (₽)shares | Dec. 31, 2020RUB (₽)shares | Dec. 31, 2019RUB (₽) |
Statements [Line Items] | ||||||||
Proceeds from convertible loan agreements | ₽ | ₽ 6,196 | ₽ 3,594 | ||||||
Convertible loan previously not converted | ₽ | ₽ 1,043 | |||||||
Stock split of ordinary shares | 25-for-1 | |||||||
Number of shares issued for convertible loan | shares | 15,086,709 | 8,397,474 | ||||||
Treasury shares [member] | ||||||||
Statements [Line Items] | ||||||||
Issue of shares to employee-benefit trust | shares | 12,200,000 | (12,200,000) | ||||||
Issue Of Shares To Employee Benefit trust Value | ₽ | ₽ (1) | ₽ (1) | ||||||
IPO [Member] | ||||||||
Statements [Line Items] | ||||||||
Number of shares issued | shares | 37,950,000 | |||||||
Share issue related costs | ₽ | ₽ 5,820 | |||||||
Underwriting commissions | ₽ | 5,512 | |||||||
Other transaction costs | ₽ | 308 | |||||||
Proceeds from issuing shares | ₽ | ₽ 90,480 | |||||||
Private Placement [Member] | ||||||||
Statements [Line Items] | ||||||||
Number of shares issued | shares | 4,500,000 | |||||||
Bottom of range [member] | Appointment of Two directors [Member] | ||||||||
Statements [Line Items] | ||||||||
Proportion of voting rights held by non-controlling interests | 15.00% | |||||||
Top of range [member] | Appointment of Two directors [Member] | ||||||||
Statements [Line Items] | ||||||||
Proportion of voting rights held by non-controlling interests | 7.50% | |||||||
Ordinary shares [member] | ||||||||
Statements [Line Items] | ||||||||
Increase in number of shares authorized | shares | 374,999,998 | |||||||
Par value per share | $ / shares | $ 0.001 | |||||||
Number of shares issued | shares | 37,950,000 | |||||||
Class A Shares [Member] | ||||||||
Statements [Line Items] | ||||||||
Increase in number of shares authorized | shares | 559,999,998 | |||||||
Par value per share | $ / shares | $ 0.001 | |||||||
Class A Shares [Member] | Appointment of Two directors [Member] | ||||||||
Statements [Line Items] | ||||||||
Proportion of voting rights held by non-controlling interests | 15.00% |
Share Capital, Share Premium _4
Share Capital, Share Premium And Other Capital Reserves - Summary of Share Capital and Share Premium (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of movement of Share capital and share premium [Line Items] | ||||
Beginning balance | 203,729,960 | 137,607,450 | ||
Issue of shares in the IPO | 37,950,000 | |||
Issue of shares in the private placement | 4,500,000 | |||
Issue of shares from a conversion of loans | 23,484,183 | |||
Issue of shares upon exercise of share-based awards | 483,775 | 188,325 | ||
Issue of Class A shares | 2 | |||
Ending balance | 208,322,103 | 208,322,103 | 203,729,960 | 137,607,450 |
Beginning balance | ₽ 79,257 | ₽ 817 | ₽ 3,394 | |
Issue of shares upon exercise of share-based awards | ₽ 313 | |||
Release of shares from trust (note 27) | 4,108,368 | |||
Ending Balance | ₽ 30,608 | ₽ 30,608 | ₽ 79,257 | ₽ 817 |
Ordinary shares [member] | ||||
Disclosure of movement of Share capital and share premium [Line Items] | ||||
Beginning balance | 203,729,960 | 137,472,875 | ||
Issue of shares in the IPO | 37,950,000 | |||
Issue of shares in the private placement | 4,500,000 | |||
Issue of shares from a conversion of loans | 23,484,183 | |||
Issue of shares upon exercise of share-based awards | 483,775 | |||
Conversion of preference shares | 322,900 | |||
Issue of Class A shares | 2 | |||
Ending balance | 216,413,735 | 216,413,735 | 203,729,960 | 137,472,875 |
Issue of shares to employee-benefit trust | 12,200,000 | |||
Preference shares [member] | ||||
Disclosure of movement of Share capital and share premium [Line Items] | ||||
Beginning balance | 134,575 | |||
Issue of shares upon exercise of share-based awards | 188,325 | |||
Conversion of preference shares | (322,900) | |||
Ending balance | 134,575 | |||
Share capital [member] | ||||
Disclosure of movement of Share capital and share premium [Line Items] | ||||
Beginning balance | ₽ 11 | ₽ 6 | ₽ 4 | |
Issue of shares in the IPO | 3 | |||
Issue of shares from a conversion of loans | 2 | |||
Issue Of Shares To Employee Benefit trust Value | 1 | |||
Ending Balance | ₽ 12 | 12 | 11 | 6 |
Share premium [member] | ||||
Disclosure of movement of Share capital and share premium [Line Items] | ||||
Transaction costs | (5,820) | |||
Beginning balance | 133,439 | 32,053 | 15,484 | |
Issue of shares in the IPO | 85,899 | |||
Issue of shares in the private placement | 10,186 | |||
Issue of shares from a conversion of loans | 11,088 | |||
Issue of shares upon exercise of share-based awards | 1,485 | 33 | 15 | |
Issue of shares upon exercise of share-based awards | ₽ 9 | |||
Release of shares from trust (note 27) | 1,476 | |||
Ending Balance | ₽ 134,924 | ₽ 134,924 | 133,439 | 32,053 |
Treasury shares [member] | ||||
Disclosure of movement of Share capital and share premium [Line Items] | ||||
Ending balance | (8,091,632) | (8,091,632) | ||
Beginning balance | ₽ 0 | |||
Issue of shares to employee-benefit trust | 12,200,000 | (12,200,000) | ||
Issue Of Shares To Employee Benefit trust Value | ₽ (1) | ₽ (1) | ||
Release of shares from trust (note 27) | 4,108,368 | |||
Ending Balance | ₽ (1) | ₽ (1) | ₽ 0 |
Share Capital, Share Premium _5
Share Capital, Share Premium And Other Capital Reserves - Summary of Share Capital (Detail) - shares | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of share capital [Line Items] | ||
Authorised | 560,000,000 | 560,000,000 |
Issued and fully paid | 216,413,735 | 203,729,960 |
Ordinary shares of USD 0.001 each [member] | ||
Disclosure of share capital [Line Items] | ||
Authorised | 559,999,998 | 559,999,998 |
Issued and fully paid | 216,413,733 | 203,729,958 |
Class A shares of USD 0.001 each [member] | ||
Disclosure of share capital [Line Items] | ||
Authorised | 2 | 2 |
Issued and fully paid | 2 | 2 |
Share Capital, Share Premium _6
Share Capital, Share Premium And Other Capital Reserves -Schedule Of Other Capital Reserves (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure Of Other Capital Reserves [Line Items] | |||
Beginning balance | ₽ 79,257 | ₽ 817 | ₽ 3,394 |
Convertible loans | (1,298) | 40 | |
Other comprehensive income | (3) | 0 | 0 |
Ending Balance | 30,608 | 79,257 | 817 |
Convertible loan reserve | |||
Disclosure Of Other Capital Reserves [Line Items] | |||
Beginning balance | 0 | 1,043 | |
Convertible loans | (1,043) | ||
Other comprehensive income | 0 | ||
Ending Balance | 0 | 0 | 1,043 |
Currency translation differences | |||
Disclosure Of Other Capital Reserves [Line Items] | |||
Beginning balance | 0 | 0 | |
Convertible loans | 0 | ||
Other comprehensive income | (3) | ||
Ending Balance | (3) | 0 | 0 |
Other capital reserves | |||
Disclosure Of Other Capital Reserves [Line Items] | |||
Beginning balance | 0 | 1,043 | |
Convertible loans | (1,043) | ||
Other comprehensive income | (3) | ||
Ending Balance | ₽ (3) | ₽ 0 | ₽ 1,043 |
Borrowings - Disclosure of Borr
Borrowings - Disclosure of Borrowings (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ₽ 62,116 | ₽ 9,448 |
Maturity | 2026 | |
Current | ₽ 11,539 | 7,125 |
Non-current | 50,577 | 2,323 |
Convertible bonds [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ₽ 49,403 | 0 |
Effective interest rate | 5.10% | |
Currency | USD | |
Maturity | 2026 | |
Bank loans [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ₽ 9,954 | ₽ 6,639 |
Effective interest rate | 10.00% | 15.00% |
Currency | RUB | |
Maturity | 2022 | 2021 |
Equipment financing [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ₽ 2,759 | ₽ 2,809 |
Effective interest rate | 9.40% | 9.80% |
Currency | RUB | |
Maturity | 2022-2030 | 2021-2030 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) $ / shares in Units, ₽ in Millions, $ in Millions | 1 Months Ended | 2 Months Ended | 12 Months Ended | ||||||
Aug. 31, 2021RUB (₽) | Feb. 28, 2021RUB (₽) | Feb. 28, 2021USD ($) | Mar. 31, 2020RUB (₽) | Nov. 30, 2020shares | Dec. 31, 2021RUB (₽) | Dec. 31, 2020RUB (₽)shares | Dec. 31, 2019RUB (₽) | Feb. 28, 2021$ / shares | |
Disclosure of detailed information about borrowings [line items] | |||||||||
Conversion of debt, Original amount | ₽ 3,594 | ||||||||
Proceeds from issue of convertible loans net of issue cost | ₽ 0 | ₽ 6,171 | ₽ 20,099 | ||||||
Number of shares issued for convertible loan | shares | 15,086,709 | 8,397,474 | |||||||
Borrowings, maturity | 2026 | ||||||||
Convertion price per share | $ / shares | $ 86.6480 | ||||||||
Debt instrument, convertible, transaction costs | ₽ 128 | ||||||||
Bank loan | ₽ 6,000 | ||||||||
Value of financial liability relates to sale and leaseback transactions | 471 | ₽ 1,950 | |||||||
At fair value [member] | Level 2 of fair value hierarchy [member] | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Financial liabilities measured at fair value through profit and loss | ₽ 594 | ||||||||
1.875% senior unsecured convertible bonds due 2026 [member] | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Proceeds from issue of convertible loans net of issue cost | ₽ 54,499 | ||||||||
Payment for debt issuance costs | ₽ 988 | ||||||||
Nominal or principal amount of financing activities | $ | $ 750 | ||||||||
Borrowings, interest rate | 1.875% | ||||||||
Borrowings, maturity | 2026 | 2026 | |||||||
Financial liabilities measured at fair value through profit and loss | ₽ 6,958 | ||||||||
Effective interest rate of financial assets reclassified out of financial assets at fair value through profit or loss | 5.10% | ||||||||
One Year Unsecured Loan Facility Agreement [Member] | |||||||||
Disclosure of detailed information about borrowings [line items] | |||||||||
Proceeds from current borrowings | ₽ 9,900 | ||||||||
One off utilization commission | ₽ 100 | ||||||||
Nominal rate per year | 8.50% |
Trade and Other Payables - Summ
Trade and Other Payables - Summary of Trade and Other Payables (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of Detailed Information about Trade And Other Payables [Line Items] | ||
Trade payables | ₽ 59,417 | ₽ 32,437 |
Payables to third-party sellers on the marketplace platform | 22,215 | 9,437 |
Payables under the reverse factoring arrangements | 6,874 | 223 |
Payroll payables, including related taxes | 1,100 | 372 |
Other payables | 185 | 154 |
Total | 89,791 | 42,623 |
Current | 89,273 | 42,545 |
Non-current | ₽ 518 | ₽ 78 |
Accrued Expenses - Summary of D
Accrued Expenses - Summary of Detailed Information About of Accrued Expenses (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure of detailed information about accrued expenses [Abstract] | ||
Holiday provision, including payroll related taxes | ₽ 1,731 | ₽ 665 |
Employee bonuses, including payroll related taxes | 1,507 | 309 |
Provision for reimbursements to third-party sellers | 755 | 407 |
Refund liability | 462 | 231 |
Tax provisions | 239 | 65 |
Provision for legal claims | 22 | 0 |
Total | ₽ 4,716 | ₽ 1,677 |
Contract Liabilities and Defe_2
Contract Liabilities and Deferred Income - Summary of Customer Advances and Deferred Income (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Detailed Information Contract Liabilities And Deferred Income [Abstract] | ||
Contract liabilities | ₽ 7,726 | ₽ 3,763 |
Unredeemed gift certificates | 1,267 | 864 |
Loyalty points program | 452 | 148 |
Upfront fees under ADS program | 348 | 408 |
Ozon Premium | 130 | 48 |
Total | 9,923 | 5,231 |
Current | 9,634 | 4,825 |
Non-current | ₽ 289 | ₽ 406 |
Share-Based Compensation - Summ
Share-Based Compensation - Summary of Number and Weighted Average Exercise Prices of Share Options (Detail) | 12 Months Ended | ||
Dec. 31, 2021moshares₽ / shares | Dec. 31, 2020moshares₽ / shares | Dec. 31, 2019mo₽ / shares | |
Options [Member] | |||
Disclosure of Number and and Weighted average share price [Line Items] | |||
Quantity | mo | 0 | 1,558,275 | 1,558,275 |
Weighted average exercise price per share | ₽ 0 | ₽ 240 | ₽ 240 |
Quantity, Exercised | mo | (1,558,275) | ||
Weighted average exercise price, Exercised | ₽ 240 | ||
Share appreciation rights [Member] | |||
Disclosure of Number and and Weighted average share price [Line Items] | |||
Quantity | mo | 273,939 | 523,814 | 652,900 |
Quantity,Exercisable | mo | 273,939 | ||
Weighted average exercise price per share | ₽ 256 | ₽ 257 | ₽ 257 |
Weighted Average Exercise Price Of Share Options Exercisable | ₽ 256 | ||
Quantity, Forfeited | mo | (121,036) | ||
Quantity, Exercised | mo | (249,875) | (8,050) | |
Weighted Average Exercise Price Of ShareOptions Forfeited | ₽ 258 | ||
Weighted average exercise price, Exercised | ₽ 255 | ₽ 260 | |
Restricted share units [Member] | |||
Disclosure of Number and and Weighted average share price [Line Items] | |||
Quantity | mo | 13,383,407 | 10,410,587 | 6,317,875 |
Quantity,Exercisable | mo | 3,100,529 | ||
Weighted average share price per share | ₽ 2,366 | ₽ 1,047 | ₽ 364 |
Weighted average share price, Exercisable | ₽ 933 | ||
Quantity, Forfeited | mo | (358,222) | (1,008,163) | |
Quantity, Exercised | mo | (2,825,866) | (187,850) | |
Weighted average share price, Forfeited | ₽ 2,022 | ₽ 411 | |
Weighted average share price, Exercised | ₽ 308 | ₽ 326 | |
Quantity,Granted | shares | 6,158,277 | 5,288,725 | |
Weighted average grant date fair value per share,Granted | ₽ 3,687 | ₽ 1,713 | |
Cancelled | mo | (1,369) | ||
Weighted Average Share Price of share options cancelled | ₽ 3,986 |
Share-Based Compensation - Su_2
Share-Based Compensation - Summary of Stock Based Compensation Expense (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of stockbased compensation expense [Line Items] | |||
Total | ₽ 7,820 | ₽ 644 | ₽ 190 |
Fulfillment and delivery [Member] | |||
Disclosure of stockbased compensation expense [Line Items] | |||
Stock based compensation expense | 635 | 53 | 19 |
Sales and marketing [Member] | |||
Disclosure of stockbased compensation expense [Line Items] | |||
Stock based compensation expense | 1,013 | 81 | 14 |
Technology and content [Member] | |||
Disclosure of stockbased compensation expense [Line Items] | |||
Stock based compensation expense | 2,245 | 152 | 16 |
General and administrative [Member] | |||
Disclosure of stockbased compensation expense [Line Items] | |||
Stock based compensation expense | ₽ 3,927 | ₽ 358 | ₽ 141 |
Share-Based Compensation - Su_3
Share-Based Compensation - Summary of Inputs to BlackScholes Model Share Options (Detail) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2020RUB (₽)yr | Dec. 31, 2019RUB (₽)yr | |
Description Of Inputs To BlackScholes model Share Options [Line Items] | ||
Expected annual volatility | 48.00% | 45.00% |
Expected life, years | yr | 4 | 4 |
Dividend yield | ₽ | ₽ 0 | ₽ 0 |
Risk-free interest rate | 5.70% | 7.30% |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) $ / shares in Units, ₽ in Millions, $ in Millions | 12 Months Ended | ||||||
Dec. 31, 2021RUB (₽)shares | Dec. 31, 2021USD ($)shares$ / shares | Dec. 31, 2020RUB (₽)shares | Dec. 31, 2019RUB (₽) | Dec. 31, 2021$ / shares | Jan. 27, 2021shares | Dec. 31, 2018RUB (₽) | |
SharebasedCompensation [Line Items] | |||||||
Proceeds from exercise of options | ₽ | ₽ 313 | ₽ 0 | ₽ 0 | ||||
Weighted average remaining contractual life | 8 years 9 months 18 days | 8 years 9 months 18 days | 8 years 2 months 12 days | ||||
Share premium | ₽ | ₽ 134,924 | ₽ 133,439 | |||||
Number of ordinary shares issued directly from the share capital | 483,775 | 483,775 | |||||
SAR [Member] | |||||||
SharebasedCompensation [Line Items] | |||||||
The weighted average share price for the rsus exercised during 2021 year | $ / shares | $ 3,800 | ||||||
RSU [Member] | |||||||
SharebasedCompensation [Line Items] | |||||||
The weighted average share price for the rsus exercised during 2021 year | $ / shares | $ 3,830 | ||||||
2020 Plan [Member] | |||||||
SharebasedCompensation [Line Items] | |||||||
Share based payment arrangements shares available for issuance | 30,800,000 | ||||||
Two thousand eighteen plan equity incentive agreement [Member] | |||||||
SharebasedCompensation [Line Items] | |||||||
Proceeds from exercise of options | $ | $ 4 | ||||||
Interest rate | 8.00% | ||||||
Number of ordinary shares exercised | 1,058,275 | ||||||
Shares Exercised Under 2018 EIA Plan | 1,058,275 | ||||||
Exercise Price | ₽ | ₽ 313 | ₽ 93 | |||||
Two thousand nine stock option agreement [Member] | |||||||
SharebasedCompensation [Line Items] | |||||||
Number of ordinary shares exercisable after a vesting period | 500,000 | ||||||
Exercise price per share | $ / shares | $ 1.95304 | ||||||
Number of ordinary shares exercised | 483,775 | ||||||
Restricted share units [member] | |||||||
SharebasedCompensation [Line Items] | |||||||
Number of shares options granted | 6,158,277 | 6,158,277 | 5,288,725 | ||||
Shares transferred to EIP participants as a result of SBA exercises | 4,592,143 | 4,592,143 | |||||
Restricted share units [member] | Share Based Payment Arrangement, Non Employee Member | |||||||
SharebasedCompensation [Line Items] | |||||||
Number of shares options granted | 80,000 | 80,000 | |||||
Restricted share units [member] | Mr.Alexander Shulgin Member [Member] | |||||||
SharebasedCompensation [Line Items] | |||||||
Number of shares options granted | 3,200,000 | 3,200,000 | |||||
Trust [Member] | |||||||
SharebasedCompensation [Line Items] | |||||||
Number of ordinary shares | 4,108,368 | 4,108,368 | |||||
Equity Settled Employee Benefits Reserve [Member] | |||||||
SharebasedCompensation [Line Items] | |||||||
Share premium | ₽ | ₽ 1,079 |
Related parties - Summary of Tr
Related parties - Summary of Transactions Between Related Parties (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Sistema PJSFC [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Sales to related parties | ₽ 114 | ||
Purchases from related parties | 553 | ₽ 193 | ₽ 309 |
Amounts owed by related parties | 6 | ||
Amounts owed to related parties | 973 | 9 | 18 |
Litres [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Sales to related parties | 7 | 6 | 5 |
Purchases from related parties | 1 | 11 | 6 |
Amounts owed by related parties | 1 | 144 | 1 |
Amounts owed to related parties | ₽ 2 | ₽ 2 | ₽ 3 |
Related Parties - Summary of Ke
Related Parties - Summary of Key Management Personnel (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of key management personnel [Line Items] | |||
Short-term employee benefits | ₽ 90 | ₽ 53 | ₽ 33 |
Share-based compensation expense | 2,390 | 224 | 93 |
Total | ₽ 2,480 | ₽ 277 | ₽ 126 |
Related Parties - Additional In
Related Parties - Additional Information (Detail) ₽ in Millions | 1 Months Ended | 12 Months Ended | ||
Aug. 31, 2021shares | Dec. 31, 2021RUB (₽) | Dec. 31, 2020RUB (₽) | Dec. 31, 2019RUB (₽) | |
Related Parties [Line Items] | ||||
Interest income | ₽ 1,484 | ₽ 311 | ₽ 179 | |
Provision for expected credit losses | ||||
Mr.Alexander Shulgin Member [Member] | Restricted Share Units Member | ||||
Related Parties [Line Items] | ||||
Number of shares options granted | shares | 3,200,000 | |||
Sistema PJSFC [Member] | ||||
Related Parties [Line Items] | ||||
Cash balance of current and deposit accounts | 3 | 86 | ||
Interest income | ₽ 2 | |||
MTSBank PJSC Member | ||||
Related Parties [Line Items] | ||||
Outstanding balance | 782 | |||
Factoring commission | ₽ 111 |
Financial Instruments, Risk M_3
Financial Instruments, Risk Management and Capital Management - Summary of Carrying Amounts of Financial Assets and Financial Liabilities (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Financial assets and liabilities measured at amortized cost [Line Items] | ||||
Cash and cash equivalents | ₽ 108,037 | ₽ 103,702 | ₽ 2,994 | ₽ 2,684 |
Short-term bank deposits (note 21) | 17,954 | 22 | ||
Other financial assets | 2,387 | 746 | ||
Trade and other payables (note 24) | 89,791 | 42,623 | ||
Financial liabilities measured at fair value through profit or loss (on recurring basis) | ||||
Conversion options | 594 | 0 | ||
Financial assets measured at fair value through profit or loss [member] | ||||
Financial assets and liabilities measured at amortized cost [Line Items] | ||||
Accounts receivable | 596 | 0 | ||
Total financial assets | 134,989 | 107,875 | ||
Financial liabilities measured at amortized cost [Member] | ||||
Financial assets and liabilities measured at amortized cost [Line Items] | ||||
Trade and other payables (note 24) | 89,791 | 42,623 | ||
Lease liabilities (note 15) | 42,467 | 15,490 | ||
Convertible bonds (note 23) | 49,403 | |||
Borrowings | 12,713 | 9,448 | ||
Financial liabilities at fair value, class [member] | ||||
Financial liabilities measured at fair value through profit or loss (on recurring basis) | ||||
Conversion options | 594 | |||
Total financial liabilities | 194,968 | 67,561 | ||
Financial assets at amortised cost, class [member] | ||||
Financial assets and liabilities measured at amortized cost [Line Items] | ||||
Cash and cash equivalents | 108,037 | 103,702 | ||
Short-term bank deposits (note 21) | 17,954 | 22 | ||
Accounts receivable | 6,015 | 3,405 | ||
Other financial assets | ₽ 2,387 | ₽ 746 |
Financial Instruments, Risk M_4
Financial Instruments, Risk Management and Capital Management - Summary of Fair Value of Assets and Liabilities Including those Measured at Fair Value on a Recurring Basis (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Financial liabilities measured at fair value through profit and loss (on recurring basis in the statement of financial position) | ||
Conversion options | ₽ 594 | ₽ 0 |
Carrying value [member] | ||
Financial assets at fair value through profit or loss [abstract] | ||
Total assets | 596 | |
Financial liabilities measured at fair value through profit and loss (on recurring basis in the statement of financial position) | ||
Total financial liabilities | 49,997 | |
Carrying value [member] | Level 2 of fair value hierarchy [member] | ||
Financial liabilities measured at amortized cost [abstract] | ||
Convertible bonds | 49,403 | |
Financial liabilities measured at fair value through profit and loss (on recurring basis in the statement of financial position) | ||
Conversion options | 594 | |
Carrying value [member] | Level 3 of fair value hierarchy [member] | ||
Financial assets at fair value through profit or loss [abstract] | ||
Carrying value of accounts receivable measured at fair value through profit and loss | 596 | |
Fair market value [member] | ||
Financial assets at fair value through profit or loss [abstract] | ||
Carrying value of accounts receivable measured at fair value through profit and loss | 596 | |
Financial liabilities measured at fair value through profit and loss (on recurring basis in the statement of financial position) | ||
Total financial liabilities | 45,630 | |
Fair market value [member] | Level 2 of fair value hierarchy [member] | ||
Financial liabilities measured at amortized cost [abstract] | ||
Convertible bonds | 45,036 | |
Financial liabilities measured at fair value through profit and loss (on recurring basis in the statement of financial position) | ||
Conversion options | 594 | |
Fair market value [member] | Level 3 of fair value hierarchy [member] | ||
Financial assets at fair value through profit or loss [abstract] | ||
Accounts receivable | ₽ 596 |
Financial Instruments, Risk M_5
Financial Instruments, Risk Management and Capital Management - Summary of Carrying Amounts of the Groups Foreign Currency Denominated Monetary Assets and Monetary Liabilities (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Carrying Amounts Of The Groups Foreign Currency Denominated Monetary Assets And Monetary Liabilities [Line Items] | ||
Assets | ₽ 241,338 | ₽ 154,608 |
Liabilities | (210,730) | (75,351) |
USD [Member] | ||
Disclosure Of Carrying Amounts Of The Groups Foreign Currency Denominated Monetary Assets And Monetary Liabilities [Line Items] | ||
Assets | 69,192 | 68,224 |
Liabilities | (50,595) | (314) |
Net position | 18,597 | 67,910 |
EUR [Member] | ||
Disclosure Of Carrying Amounts Of The Groups Foreign Currency Denominated Monetary Assets And Monetary Liabilities [Line Items] | ||
Assets | 42 | 58 |
Liabilities | (477) | (94) |
Net position | ₽ (435) | ₽ (36) |
Financial Instruments, Risk M_6
Financial Instruments, Risk Management and Capital Management - Summary of Groups Exposure to Foreign Currency Sensitivity for all Other Currencies (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
USD [Member] | ||
Disclosure Of Groups Exposure To Foreign Currency Changes For All Other Currencies [Line Items] | ||
Percent Of Increase In Foreign Exchanger Rates | 50.00% | 30.00% |
Percent Of Decrease In Foreign Exchange Rates | 50.00% | 30.00% |
Effect On Profit Before Tax Due To Increase In Foreign Exchange Rates | ₽ 9,299 | ₽ 20,373 |
Effect On Profit Before Tax Due To Decrease In Foreign Exchange Rates | ₽ (9,299) | ₽ (20,373) |
EUR [Member] | ||
Disclosure Of Groups Exposure To Foreign Currency Changes For All Other Currencies [Line Items] | ||
Percent Of Increase In Foreign Exchanger Rates | 50.00% | 30.00% |
Percent Of Decrease In Foreign Exchange Rates | 50.00% | 30.00% |
Effect On Profit Before Tax Due To Increase In Foreign Exchange Rates | ₽ (218) | ₽ (11) |
Effect On Profit Before Tax Due To Decrease In Foreign Exchange Rates | ₽ 218 | ₽ 11 |
Financial Instruments, Risk M_7
Financial Instruments, Risk Management and Capital Management - Summary of Maturity Profile of the Groups Financial Liabilities Based on Contractual Undiscounted Payments (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Disclosure Of Maturity Profile Of The Groups Financial Liabilities Based On Contractual Undiscounted Payments [Line Items] | ||
Trade and other payables | ₽ 89,994 | ₽ 42,623 |
Borrowings | 74,644 | 10,796 |
Lease liabilities | 57,701 | 20,110 |
Total financial liabilities | 222,339 | 73,529 |
On demand [Member] | ||
Disclosure Of Maturity Profile Of The Groups Financial Liabilities Based On Contractual Undiscounted Payments [Line Items] | ||
Trade and other payables | 0 | 0 |
Borrowings | 0 | 0 |
Lease liabilities | 0 | 0 |
Total financial liabilities | 0 | 0 |
Within 1 year [Member] | ||
Disclosure Of Maturity Profile Of The Groups Financial Liabilities Based On Contractual Undiscounted Payments [Line Items] | ||
Trade and other payables | 89,322 | 42,545 |
Borrowings | 12,328 | 7,582 |
Lease liabilities | 11,794 | 4,763 |
Total financial liabilities | 113,444 | 54,890 |
1 to 3 years [Member] | ||
Disclosure Of Maturity Profile Of The Groups Financial Liabilities Based On Contractual Undiscounted Payments [Line Items] | ||
Trade and other payables | 328 | 78 |
Borrowings | 3,217 | 1,121 |
Lease liabilities | 20,500 | 7,637 |
Total financial liabilities | 24,045 | 8,836 |
3 to 5 years [Member] | ||
Disclosure Of Maturity Profile Of The Groups Financial Liabilities Based On Contractual Undiscounted Payments [Line Items] | ||
Trade and other payables | 122 | 0 |
Borrowings | 57,881 | 572 |
Lease liabilities | 12,900 | 4,845 |
Total financial liabilities | 70,903 | 5,417 |
> 5 years [Member] | ||
Disclosure Of Maturity Profile Of The Groups Financial Liabilities Based On Contractual Undiscounted Payments [Line Items] | ||
Trade and other payables | 222 | 0 |
Borrowings | 1,218 | 1,521 |
Lease liabilities | 12,507 | 2,865 |
Total financial liabilities | ₽ 13,947 | ₽ 4,386 |
Financial Instruments, Risk M_8
Financial Instruments, Risk Management And Capital Management - Summary of detailed information about maximum exposure to credit risk (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Maximum Exposure To Credit Risk [Abstract] | ||||
Accounts receivables | ₽ 6,611 | ₽ 3,405 | ||
Short-term bank deposits | 17,954 | 22 | ||
Cash and cash equivalents | 108,037 | 103,702 | ₽ 2,994 | ₽ 2,684 |
Total credit exposure | ₽ 132,602 | ₽ 107,129 |
Financial Instruments, Risk M_9
Financial Instruments, Risk Management and Capital Management - Additional Information (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Financial Instruments, Risk Management and Capital Management [Line Items] | ||
Cash, cash equivalents and short-term bank deposits | ₽ 125,991 | ₽ 103,724 |
Standard & Poor's, BBB Rating [Member] | ||
Financial Instruments, Risk Management and Capital Management [Line Items] | ||
Maximum concentration criteria per financial institution for cash and cash equivalents and short-term bank deposits | 25.00% |
Financial Instruments, Risk _10
Financial Instruments, Risk Management and Capital Management - Summary of Reconciliation of Liabilities Arising from Financing Activities (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | ₽ 24,938 | ₽ 13,725 |
Financing cash flows | 53,579 | 5,916 |
New leases (non-cash) | 31,423 | 8,122 |
Exchange difference | 219 | |
Change in fair value | (6,364) | |
Conversion of the loan into equity | (3,594) | |
Other | 1,382 | 769 |
Ending Balance | 105,177 | 24,938 |
Borrowings [Member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 9,448 | 4,116 |
Financing cash flows | 58,348 | 8,212 |
Bifurcation of embedded conversion options (non-cash) | (6,958) | |
Exchange difference | 219 | |
Conversion of the loan into equity | (3,594) | |
Other | 1,059 | 714 |
Ending Balance | 62,116 | 9,448 |
Conversion Options [Member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 0 | |
Bifurcation of embedded conversion options (non-cash) | 6,958 | |
Change in fair value | (6,364) | |
Ending Balance | 594 | 0 |
Lease liabilities [Member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 15,490 | 9,609 |
Financing cash flows | (4,769) | (2,296) |
New leases (non-cash) | 31,423 | 8,122 |
Other | 323 | 55 |
Ending Balance | ₽ 42,467 | ₽ 15,490 |
Contingencies - Additional Inf
Contingencies - Additional Information (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Contingencies And Uncertanties [Abstract] | ||
Estimation of tax risks | ₽ 371 | ₽ 169 |
Estimated Contingent Liability Related To Current And Potential Legal Matters | ₽ 84 | ₽ 0 |