Ozon Holdings PLC (NASDAQ and MOEX: “OZON”, thereafter referred
to as “we”, “us”, “our”, “Ozon” or the “Company”), a leading
Russian e-commerce platform, informs that Ozon Holdings PLC is not
subject to any sanctions at the moment. Ozon also notes that there
are no regulatory restrictions on the ability of U.S. persons to
acquire and trade in Ozon’s securities, and non-U.S. persons are
not exposed to any U.S. secondary sanctions risks in connection
with such transactions.
Based on the currently available information, the Company’s
management believes that there is no direct material adverse effect
of the U.S., EU and other sanctions recently imposed on Russia on
our current day-to-day e-commerce platform’s operations and our
ability to conduct business. We primarily operate in Russia, and
over 95% of GMV incl. services is generated in Russia. Over 90% of
our buyers and sellers are also located in Russia. Both sellers and
buyers can continue to supply and purchase goods through Ozon’s
e-commerce platform as usual.
All of Ozon’s key IT systems, as well as key physical
infrastructure, including fulfillment centers, sorting hubs, dark
stores and first and last-mile operations are fully functional, and
there have been no interruptions to either IT or logistics
processes resulting from sanctions.
Transacting on our e-commerce platform continues without any
disruptions resulting from sanctions. We continue to process
payments of our customers and pay our sellers in the regular way.
Customers are able to place prepaid orders using Mastercard, Visa,
Mir, etc. on our platform. Prepaid orders account for over 90% of
orders. Ozon is able to use SWIFT with a select number of partner
banks.
We have a strong liquidity position with approximately 80%
foreign exchange liquidity, which serves as a natural foreign
exchange hedge for the Company and believe we have sufficient ruble
liquidity for our current day-to-day operations. We have ensured
that we have access to our cash, cash equivalents and deposits, and
the majority of our deposits is now held in Russia. The Company had
cash, cash equivalents and short-term bank deposits of RUB 126
billion as of December 31, 2021.
The Company notes that on February 25, 2022, Ozon filed a
request to the Office of Foreign Assets Control (“OFAC”) of the
U.S. Treasury Department to remove Limited Liability Company Ozon
Bank (“Ozon Bank”) from the Specially Designated Nationals and
Blocked Persons List (the “SDN List”) since Ozon Bank is not linked
to Sovcombank. As per our recent press release “Ozon Informs about
Developments at Ozon Bank”, on February 24, 2022, Ozon’s banking
subsidiary, Ozon Bank, was included in the SDN List by OFAC as an
entity “linked to Sovcombank Open Joint Stock Company”. Ozon
acquired 100% of share capital of Oney Bank LLC (now Ozon Bank)
from Sovcombank on May 26, 2021, when Oney Bank ceased to be an
affiliate of the Sovcombank. Ozon can provide no assurance of the
outcome and timing of the OFAC resolution on Ozon’s
application.
Our business is likely, however, to be indirectly impacted by
the U.S., EU and other sanctions recently imposed on Russia,
particularly if they have a continued impact on the Russian
economy, which could, among other things, have a material impact on
activity on our platform. We may also face greater difficulties
raising capital in the future, which could potentially reduce the
level of future investment into infrastructure expansion and
operations. We also cannot provide any assurance that any further
development in sanctions, or escalation of the Ukraine situation
more generally, will not have a significant impact on our business,
financial condition or results of operations.
In these challenging times, we remain focused on supporting all
of our stakeholders, including customers, merchants, our multiple
various business partners, employees and investors to the best of
our ability.
Ozon expects to release its full-year 2021 financial results on
April 5, 2022, where we will also provide an update on the key
year-to-date trends.
About Ozon
Ozon is a leading multi-category e-commerce platform and one of
the largest internet companies in Russia. Ozon’s platform offers
one of the widest selections of goods across multiple product
categories. Ozon’s country-wide warehouse footprint includes around
one million square meters. Its infrastructure enables Ozon to
provide Russian population with a fast and convenient delivery via
couriers, pick-up points and parcel lockers. Ozon’s extensive
logistics and fast-developing marketplace allow over 90 thousand
entrepreneurs to sell their products across Russia’s 11 time zones
to more than 25 million customers. In addition to its core
e-commerce business, Ozon is expanding Ozon fintech and other
value-added services, such as its quick commerce and online grocery
solution Ozon Express. For more information, please visit
https://corp.ozon.com/.
Disclaimer
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
that reflect the current views of Ozon Holdings PLC (“we”, “our” or
“us”, or the “Company”). All statements contained in this press
release that do not relate to matters of historical fact disclosed
in due course by the Company should be considered forward-looking
statements.
These forward-looking statements are based on management’s
current expectations. However, it is not possible for our
management to predict all risks, nor can we assess the impact of
all factors on our business or the extent to which any factor, or
combination of factors, may cause actual results to differ
materially from those contained in any forward-looking statements
we may make. These statements are neither promises nor guarantees
but involve known and unknown risks, uncertainties and other
important factors and circumstances that may cause Ozon’s actual
results, performance or achievements to be materially different
from its expectations expressed or implied by the forward-looking
statements, including conditions in the U.S. capital markets, the
events in Ukraine and related sanctions, negative global or Russian
political and economic conditions, potential negative developments
in the COVID-19 pandemic, other negative developments in Ozon’s
business or unfavorable legislative or regulatory developments. We
caution you therefore against relying on these forward-looking
statements, and we qualify all of our forward-looking statements by
these cautionary statements. Please refer to our filings with the
U.S. Securities and Exchange Commission concerning factors that
could cause actual results to differ materially from those
described in our forward-looking statements.
These and other important factors could cause actual results to
differ materially from those indicated by the forward-looking
statements made in this press release. Any such forward-looking
statements represent management’s estimates as of the date of this
press release. While Ozon may elect to update such forward-looking
statements at some point in the future, Ozon disclaims any
obligation to do so, even if subsequent events cause its views to
change. These forward-looking statements should not be relied upon
as representing Ozon’s views as of any date subsequent to the date
of this press release.
This press release includes information for the twelve months
ended December 31, 2021. The information for the twelve months
ended December 31, 2021 has not been audited or reviewed by the
Company’s auditors. The information for the twelve months ended
December 31, 2021 contains preliminary estimates. The preliminary
estimates disclosed in this press release are based on the
Company's internal management accounts and records based on
currently available preliminary information and, therefore, may
change. The preliminary estimates are subject to revision as the
Company prepares its financial statements and disclosures in
connection with its filing of its Annual Report on Form 20-F as of
and for the year ended December 31, 2021. These preliminary
estimates should not be viewed as a substitute for the Company's
financial statements or other information set forth in the Form
20-F. Ozon currently plans to release its audited financial results
for the year ended December 31, 2021 on April 5, 2022.
The trademarks included herein are the property of the owners
thereof and are used for reference purposes only. Such use should
not be construed as an endorsement of the products or services of
the Company.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220301005603/en/
Investor Relations Maryia Berasneva-McNamara, Head of
Investor Relations, Ozon ir@ozon.ru
Press Office Maria Zaikina, Director of Public &
Industry Relations, Ozon pr@ozon.ru
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