OREANDA-NEWS. February 25, 2011. Mail.ru Group Limited (LSE: MAIL, hereinafter referred as “the Company” or “the Group”), today provides the following preliminary unaudited segment financial information for the second half and full year ended 31 December 2010.

Mail.ru Group Highlights
Group aggregate segment revenue was USD 186.6m for 2H 2010 and USD 324.0m for FY 2010 (up 59% and 64%, respectively; or 50% and 58% excluding the effect of the ICQ acquisition completed in July 2010)
Group aggregate segment EBITDA was USD 64.6m for 2H 2010 and USD 116.6m for FY 2010 (up 59% and 78%, respectively)
Group aggregate segment Net Income was USD 40.2m for 2H 2010 and USD 76.7m for FY 2010 (up 27% and 63%, respectively)
Net Cash position at the end of the year was USD 118.4m
December average monthly unique visitors reached 27.2m*, up 14% from June 2010 and 21% from December 2009
The Group sold a 3.74% stake in Qiwi for USD 24.1m, reducing its ownership to 21.35%
Sang Hun Kim (CEO of NHN Corporation from South Korea) was appointed in February 2011 as the second Independent Non-Executive Director

Dmitry Grishin, Mail.ru Group’s Co-Founder and Chief Executive Officer, said:

“We are excited to provide this first trading update following our IPO in November 2010. Our business continued to perform strongly in the second half of 2010 across all of our products and segments. In advertising, we continued to benefit from a strong cyclical recovery combined with an ongoing shift to online advertising, which helped us achieve a 74% growth rate in Group aggregate segment online advertising revenue compared to the second half of 2009. Group aggregate segment IVAS revenues in second half of 2010 increased by 44% compared to the second half of 2009, reflecting the strength of our monetization model and our ability to benefit from growing penetration and engagement in the Russian Internet market. Strong growth in revenues also significantly benefited our profitability through our operating leverage, which led to Group aggregate segment EBITDA margin increasing to 36% in 2010, as compared to 33% in 2009.”

Conference call
An analyst conference call will be held today at 17.00 GMT.  Details to access the call are as follows:

Dial in details:
Russia Free Phone Dial in:    8108 002 178 2044
USA Free Phone Dial in:    1866 245 0744   
UK Free Phone Dial in:        0800 694 1562
UK International no:        +44 (0) 1452 583 043

Access code:    46751028

For further information please contact:

Yuri Mikhalev
VP, Corporate Finance and Investor Relations
Phone: +7 495 651 6595
E-mail: ir@corp.mail.ru