Yandex N.V. (NASDAQ:YNDX) Q2 2021 Earnings Conference Call July 28, 2021 8:00 AM ET Company Participants Yulia Gerasimova - Investor Relations Director Tigran Khudaverdyan - Deputy Chief Executive Officer Daniil Shuleyko - Head of E-commerce and Ride-Tech Business Group Svetlana Demyashkevich - Chief Financial Officer Vadim Marchuk - Chief Operating Officer Yevgeny Senderov - Chief Financial Officer of Yandex.Taxi Conference Call Participants Vyacheslav Degtyarev - Goldman Sachs Cesar Tiron - Bank of Americ ...

Yandex Company Presentation July 2021 | --- | --- | |-------|-------| | | | | | | This presentation contains forward-looking statements that involve risks and uncertainties. These include statements regarding our future financial and business performance, our business and strategy and the impact of the COVID-19 pandemic on our industry, business and financial results. Actual results may differ materially from the results predicted or implied by such statements, and our reported results should not be conside ...

Yandex (NASDAQ:YNDX) Q1 2021 Earnings Conference Call April 28, 2021 8:00 AM ET Company Participants Yulia Gerasimova - Investor Relations Director Tigran Khudaverdyan - Deputy Chief Executive Officer Daniil Shuleyko - Head of E-commerce Greg Abovsky - Chief Operating & Chief Financial Officer Vadim Marchuk - Vice President, Corporate Development Yevgeny Senderov - Chief Financial Officer of Yandex.Taxi Conference Call Participants Slava Degtyarev - Goldman Sachs Cesar Tiron - Bank of America Vladimir Bespa ...

TABLE OF CONTENTS YANDEX N.V. INDEX TO CONSOLIDATED FINANCIAL STATEMENTS Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...

Revenue Structure - Yandex's revenue breakdown includes Yandex Properties Online Ad Revenues, Advertising Network Online Ad Revenues, and Other Revenues[2] - Starting in Q1 2016, the company no longer provides a breakdown of online ad revenues into text-based and display revenues, but continues to present online advertising revenues from Yandex properties and its Ad Network separately[4] Paid Clicks and CPC Growth - In Q3'18, paid clicks, excluding Yandex Market, grew by 22% year-over-year[15] - In Q4'18, paid clicks, excluding Yandex Market, grew by 20% year-over-year[15] - In Q1'19, paid clicks, excluding Yandex Market, grew by 20% year-over-year[15] - In Q2'19, paid clicks, excluding Yandex Market, grew by 20% year-over-year[15] - In Q3'20, paid clicks, excluding Yandex Market, grew by 14% year-over-year[15] - In Q4'20, paid clicks, excluding Yandex Market, grew by 3% year-over-year[15] - CPC, excluding Yandex Market, grew by 2% in Q3'18 year-over-year[15] - CPC, excluding Yandex Market, grew by 4% in Q4'18 year-over-year[15] - CPC, excluding Yandex Market, grew by 4% in Q1'19 year-over-year[15] - CPC, excluding Yandex Market, grew by 1% in Q2'19 year-over-year[15] - CPC, excluding Yandex Market, decreased by 12% in Q3'20 year-over-year[15] - CPC, excluding Yandex Market, grew by 1% in Q4'20 year-over-year[15] TAC (Traffic Acquisition Costs) - Partner TAC is presented as a percentage of Ad Network Revenue[16] - Distribution TAC is presented as a percentage of Yandex Websites Online Ad Revenue[18] Capital Expenditures - In Q4 2018, capital expenditures were 139 billion RUB, including a one-time effect of 97 billion RUB for the acquisition of the property site for the new Moscow headquarters[24] Revenue Growth by Segment (FY'20) - Search & Portal revenue grew by 2% year-over-year[27] - Taxi revenue grew by 49% year-over-year[27] - Ride-hailing & FoodTech revenue grew by 56% year-over-year[27] - Drive revenue grew by 13% year-over-year[27] - Classifieds revenue grew by 7% year-over-year[27] - Media Services revenue grew by 102% year-over-year[27] - Other Bets and Experiments revenue grew by 50% year-over-year[27] - Total Revenues grew by 24% year-over-year[27] Adjusted EBITDA and Margin by Segment (FY'20) - Search & Portal adjusted EBITDA margin was 48%[28] - Taxi adjusted EBITDA margin was 5%[28] - Ride-hailing & FoodTech adjusted EBITDA margin was 9%[28] - Drive adjusted EBITDA margin was -21%[28] - Yandex Market adjusted EBITDA margin was -30%[28] - Classifieds adjusted EBITDA margin was 19%[28] - Media Services adjusted EBITDA margin was -48%[28] - Other Bets and Experiments adjusted EBITDA margin was -61%[28] - Total adjusted EBITDA margin was 23%[28]

Financial Data and Key Metrics Changes - Q3 2020 showed a recovery across key businesses, leading to strong profitability improvements, with Search and Portal ex-TAC revenue improving to +8% year-over-year from -9% in Q2 [22][24] - Total advertising revenue on a like-for-like basis grew by 2% year-over-year, with adjusted growth of 4% when excluding the impact from terminating a search contract [23] - Profitability reached a record margin of 52.6%, driven by strict cost controls and improved operational efficiency [25] Business Line Data and Key Metrics Changes - The Taxi group revenues increased by 58% year-on-year, driven by recovery in ride-hailing and FoodTech services, with ride-hailing and FoodTech combined revenues growing 64% year-on-year [26] - E-commerce revenue amounted to RUB6.9 billion, reflecting a 55% year-over-year growth, with GMV marketplace increasing 2.3x in Q3 [28] - Media Services revenue grew by 92% year-over-year, primarily due to a 131% increase in subscription revenue [29] Market Data and Key Metrics Changes - Search share on Android reached a record 58.7%, up 120 basis points from Q2, while Portal share was strong at 59.3%, up 270 basis points year-over-year [10] - Daily audience for video content reached 18.2 million users, up 45% year-over-year, with video accounting for 20% of total time spent on the platform [12] - The number of deliveries in the logistics segment exceeded an annualized run rate of 40 million [16] Company Strategy and Development Direction - The company is focusing on deepening integration between various businesses, particularly enhancing Yandex.Plus as a key enabler of its ecosystem strategy [7] - E-commerce integration is progressing well, with a unified platform under Yandex Market providing a full suite of services to over 30,000 partners [8] - The company is exploring opportunities in FinTech, focusing on payments and digital finance services for customers and SMEs [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to face challenges due to improved resource efficiency and the identification of new growth opportunities [14] - The second wave of COVID-19 poses uncertainty, leading to a conservative approach to costs and capital allocation [13] - Management remains optimistic about the long-term growth potential despite current challenges, particularly in logistics and e-commerce [14][26] Other Important Information - The company maintains a strong cash position of RUB3.2 billion, allowing for strategic investments and flexibility in responding to market conditions [32] - The acquisition of K50, a platform for centralized ad placement, aims to enhance advertising efficiency and customer convenience [11] Q&A Session Summary Question: Sustainability of margin improvement in Search business - Management indicated that margins are sustainable at around 50%, driven by proactive optimization of partner and distribution TAC [34] Question: Medium-term priorities for Yandex Market - The focus will be on increasing SKUs, improving logistics quality, and enhancing the loyalty program for Yandex.Plus customers [36] Question: Key drivers of widening margins in Taxi - Record profitability in ride-hailing was driven by GMV recovery and cost-cutting initiatives, with Eats turning profitable due to efficiency improvements [40][41] Question: FinTech strategy interest - The company is interested in both online lending and payments, recognizing the importance of financing in e-commerce [42] Question: Options being assessed in FinTech - The company is exploring various M&A opportunities and developing internal capabilities in FinTech [46] Question: Performance of Yandex.Plus subscribers - Subscribers are showing greater loyalty and increased usage of Yandex services compared to average consumers [82] Question: Competitive dynamics in the Taxi market - The company remains confident in its competitive position despite new entrants like DiDi, focusing on service quality and technology [79]

Yandex Deutsche Bank's 2020 Technology Conference September 2020 Forward Looking Statement Disclaimer This presentation contains forward-looking statements that involve risks and uncertainties. These include statements regarding the anticipated development of the internet search and the online advertising markets, the planned growth of our business, our anticipated revenues and capital. Actual results may differ materially from the results predicted or implied by such statements, and our reported results sh ...

Yandex N.V. (NASDAQ:YNDX) Q2 2020 Earnings Conference Call July 28, 2020 8:00 AM ET Company Participants Yulia Gerasimova - Head of Investor Relations Tigran Khudaverdyan - Deputy Chief Executive Officer Daniil Shuleyko - Chief Executive Officer of Yandex.Taxi Greg Abovsky - Chief Operating and Chief Financial Officer Arkady Volozh - Founder and Chief Executive Officer Vadim Marchuk - Vice President of Corporate Development Yevgeny Senderov - Chief Financial Officer of Yandex, Taxi Conference Call Particip ...