Cover Page
Cover Page | 12 Months Ended |
Dec. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F/A |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2020 |
Document Fiscal Year Focus | 2020 |
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 | No |
Entity Current Reporting Status | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Shell Company | false |
Entity Emerging Growth Company | false |
Entity Common Stock, Shares Outstanding | 203,729,958 |
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 | false |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue: | |||
Sales of goods | ₽ 81,414 | ₽ 53,487 | ₽ 33,920 |
Service revenue | 22,936 | 6,617 | 3,300 |
Total revenue | 104,350 | 60,104 | 37,220 |
Operating expenses: | |||
Cost of sales | (72,859) | (48,845) | (27,662) |
Fulfillment and delivery | (30,676) | (16,808) | (8,232) |
Sales and marketing | (10,015) | (7,153) | (3,335) |
Technology and content | (4,394) | (3,520) | (2,123) |
General and administrative | (3,729) | (2,390) | (1,742) |
Total operating expenses | (121,673) | (78,716) | (43,094) |
Operating loss | (17,323) | (18,612) | (5,874) |
Loss on disposal of non-current assets | (35) | (7) | (3) |
Finance costs | (2,115) | (980) | (66) |
Finance income | 311 | 179 | 195 |
Share of profit of an associate | 112 | 54 | 82 |
Foreign currency exchange (loss) / gain, net | (1,984) | (213) | 78 |
Other non-operating expenses | (1,000) | ||
Total non-operating (expense) / income | (4,711) | (967) | 286 |
Loss before income tax | (22,034) | (19,579) | (5,588) |
Income tax (expense) / benefit | (230) | 216 | (73) |
Loss for the year | (22,264) | (19,363) | (5,661) |
Total comprehensive income for the year | ₽ (22,264) | ₽ (19,363) | ₽ (5,661) |
Loss per share | |||
Basic and diluted loss per share attributable to ordinary equity holders of the parent | ₽ (135.1) | ₽ (150.4) | ₽ (60.6) |
Basic and diluted weighted average number of ordinary shares | 164,605,952 | 128,597,975 | 92,999,825 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Non-current assets | ||
Property, plant and equipment | ₽ 11,869 | ₽ 7,176 |
Right-of-use assets | 14,579 | 9,269 |
Intangible assets | 317 | 130 |
Investments in an associate | 1,111 | 1,139 |
Deferred tax assets | 44 | 253 |
Advances for non-current assets and security deposits | 1,880 | 1,601 |
Total non-current assets | 29,800 | 19,568 |
Current assets | ||
Inventories | 15,342 | 10,774 |
Accounts receivable | 3,405 | 2,743 |
Prepaid income tax | 14 | 17 |
VAT receivable | 908 | 1,378 |
Advances and prepaid expenses | 1,055 | 933 |
Other current assets | 382 | 19 |
Cash and cash equivalents | 103,702 | 3,003 |
Total current assets | 124,808 | 18,867 |
Total assets | 154,608 | 38,435 |
Equity | ||
Share capital | 11 | 6 |
Share premium | 133,439 | 32,053 |
Equity-settled employee benefits reserves | 1,152 | 541 |
Other capital reserves | 1,043 | |
Accumulated deficit | (55,345) | (32,826) |
Total equity | 79,257 | 817 |
Non-current liabilities | ||
Borrowings | 2,323 | 166 |
Lease liabilities | 12,267 | 7,790 |
Deferred tax liabilities | 66 | 156 |
Deferred income | 406 | |
Other non-current liabilities | 78 | |
Total non-current liabilities | 15,140 | 8,112 |
Current liabilities | ||
Trade and other payables | 42,545 | 21,242 |
Borrowings | 7,125 | 3,950 |
Lease liabilities | 3,223 | 1,819 |
Taxes payable | 816 | 186 |
Accrued expenses | 1,677 | 907 |
Customer advances and deferred revenue | 4,825 | 1,402 |
Total current liabilities | 60,211 | 29,506 |
Total liabilities | 75,351 | 37,618 |
Total equity and liabilities | ₽ 154,608 | ₽ 38,435 |
Consolidated Statements of Chan
Consolidated Statements of Changes In Equity - RUB (₽) ₽ in Millions | Total | Share capital [member] | Share premium [member] | Equity settled employee benefits reserves [member] | Other capital reserves [member] | Accumulated losses [member] |
Beginning balance at Dec. 31, 2017 | ₽ 3,346 | ₽ 3 | ₽ 9,999 | ₽ 301 | ₽ 0 | ₽ (6,957) |
Loss for the year | (5,661) | (5,661) | ||||
Other comprehensive income | 0 | |||||
Total comprehensive income for the year | (5,661) | (5,661) | ||||
Issue of ordinary shares, net of transaction costs | 5,376 | 1 | 5,375 | |||
Issue of shares upon exercise of share-based awards | 110 | (110) | ||||
Sale of share options to employees | 93 | 93 | ||||
Share-based compensation expense | 82 | 82 | ||||
Ending Balance (Previously stated [member]) at Dec. 31, 2018 | 3,236 | 4 | 15,484 | 366 | 0 | (12,618) |
Ending Balance (Restated [Member]) at Dec. 31, 2018 | 3,394 | 4 | 15,484 | 366 | 0 | (12,460) |
Ending Balance at Dec. 31, 2018 | 3,236 | 4 | 15,484 | 366 | 0 | (12,618) |
Impact of IFRS 16 adoption | 158 | 158 | ||||
Loss for the year | (19,363) | (19,363) | ||||
Other comprehensive income | 0 | |||||
Total comprehensive income for the year | (19,363) | (19,363) | ||||
Issue of ordinary shares, net of transaction costs | 16,556 | 2 | 16,554 | |||
Issue of shares upon exercise of share-based awards | 15 | (15) | ||||
Share-based compensation expense | 190 | 190 | ||||
Convertible loans (note 19) | 40 | 1,043 | (1,003) | |||
Ending Balance at Dec. 31, 2019 | 817 | 6 | 32,053 | 541 | 1,043 | (32,826) |
Loss for the year | (22,264) | (22,264) | ||||
Other comprehensive income | 0 | |||||
Total comprehensive income for the year | (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 (note 19) | (1,298) | (1,043) | (255) | |||
Ending Balance at Dec. 31, 2020 | ₽ 79,257 | ₽ 11 | ₽ 133,439 | ₽ 1,152 | ₽ 0 | ₽ (55,345) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities | |||
Loss before income tax | ₽ (22,034) | ₽ (19,579) | ₽ (5,588) |
Adjusted for: | |||
Depreciation and amortization of non-current assets | 4,963 | 2,590 | 487 |
Finance costs | 2,115 | 980 | 66 |
Finance income | (311) | (179) | (195) |
Foreign currency exchange loss / (gain), net | 1,984 | 213 | (78) |
Write-downs and losses of inventories | 482 | 1,217 | 243 |
Loss on disposal of non-current assets | 35 | 7 | 3 |
Share of profit of an associate | (112) | (54) | (82) |
Changes in allowances on accounts receivable and advances paid | 131 | 169 | 12 |
Forgiveness of lease payments | (21) | ||
Share-based compensation expense | 644 | 190 | 82 |
Movements in working capital: | |||
Changes in inventories | (5,005) | (5,577) | (3,539) |
Changes in accounts receivable | (482) | (1,146) | (572) |
Changes in advances paid and other assets | (481) | (2,089) | (1,005) |
Changes in trade accounts payable | 20,885 | 8,776 | 6,355 |
Changes in other liabilities | 5,202 | 1,051 | 278 |
Cash generated from / (used) in operations | 7,995 | (13,431) | (3,533) |
Interest paid | (1,356) | (876) | (58) |
Income tax paid | (69) | (5) | (8) |
Net cash generated from / (used in) operating activities | 6,570 | (14,312) | (3,599) |
Cash flows from investing activities | |||
Purchase of property, plant and equipment | (6,714) | (4,742) | (2,472) |
Purchase of intangible assets | (126) | (26) | (93) |
Proceeds from disposal of property, plant and equipment | 6 | ||
Interest received | 260 | 158 | 192 |
Dividends received from an associate | 71 | 80 | |
Acquisition of interest in an associate | (576) | ||
Net cash used in investing activities | (6,580) | (4,539) | (2,863) |
Cash flows from financing activities | |||
Convertible loans issue proceeds | 6,171 | 20,099 | |
Equity instruments issue proceeds | 90,480 | 5,471 | |
Proceeds from borrowings | 8,711 | 413 | |
Repayment of borrowings | (499) | (310) | (162) |
Payment of principal portion of lease liabilities | (2,296) | (867) | (39) |
Net cash generated from financing activities | 102,567 | 19,335 | 5,270 |
Net increase / (decrease) in cash and cash equivalents | 102,557 | 484 | (1,192) |
Cash and cash equivalents at the beginning of the year | 3,003 | 2,684 | 3,803 |
Effects of exchange rate changes on the balance of cash held in foreign currencies | (1,849) | (174) | 73 |
Cash and cash equivalents at the end of the year | ₽ 103,702 | ₽ 3,003 | ₽ 2,684 |
Corporate Information
Corporate Information | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 were authorized for issue in accordance with a resolution of the directors on March 30, 2021. 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 2020 2019 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 an internet retailer of multi-category consumer products to the general public through the Group’s mobile apps and websites (ozon.ru and ozon.travel). The Group also manages an online marketplace platform that enables third-party sellers to offer their products to consumers on its mobile app and website. In addition, the Group provides advertising services to vendors and third-party sellers. 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 32.68% and 32.62%, respectively, as at December 31, 2020. The Group has no ultimate controlling party since March 5, 2012. The Group’s principal geographic market is Russia. |
Significant Accounting Policies
Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
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 on a going concern basis and in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB). The consolidated financial statements have been prepared on a historical cost basis. 2.2 Basis of consolidation The consolidated financial statements comprise the financial statements of the Company and its subsidiaries as at December 31, 2020. 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 2.3 New standards, interpretations and amendments adopted by the Group The Group applied for the first-time certain standards, interpretations and amendments, which are effective for annual periods beginning on or after January 1, 2020. These standards, interpretations and amendments do not have a significant impact on the consolidated financial statements of the Group. 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 IAS 1: Classification of Liabilities as Current or Non-current • 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). Nature of the effect of adoption of IFRS 16 from January 1, 2019 As at January 1, 2019, the Group applied IFRS 16 Leases for the first time. IFRS 16 superseded IAS 17 Leases, IFRIC 4 Determining whether an Arrangement contains a Lease, SIC-15 Operating Leases-Incentives and SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. The standard sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a single on-balance sheet model. The Group adopted IFRS 16 using the modified retrospective approach with the date of initial application of January 1, 2019. Under this method, the standard is applied retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application. The Group elected to use the transition practical expedient allowing the standard to be applied only to contracts that were previously identified as leases applying IAS 17 and IFRIC 4 at the date of initial application. The Group also elected to use the recognition exemptions for lease contracts for which the underlying asset is of low value (“low-value assets”). The effect of adoption IFRS 16 as at January 1, 2019 (increase / (decrease)) is as follows: January 1, Assets Right-of-use assets 5,534 Property, plant and equipment (85 ) Advances paid and other current non-financial assets (185 ) Total assets 5,264 Liabilities Lease liabilities 5,264 Trade and other payables (158 ) Total liabilities 5,106 Equity Accumulated losses 158 Total equity 158 The Group has lease contracts of office premises, warehouses, vehicles, pickup points and sorting centers. Before the adoption of IFRS 16, the Group classified each of its leases (as lessee) at the inception date as either a finance lease or an operating lease. A lease was classified as a finance lease if it transferred substantially all of the risks and rewards incidental to ownership of the leased asset to the Group; otherwise it was classified as an operating lease. Finance leases were capitalized at the commencement of the lease at the inception date fair value of the leased property or, if lower, at the present value of the minimum lease payments. Lease payments were apportioned between interest (recognized as finance costs) and reduction of the lease liability. In an operating lease, the leased property was not capitalized and the lease payments were recognized as rent expense in profit or loss on a straight-line basis over the lease term. Upon adoption of IFRS 16, the Group applied a single recognition and measurement approach for all leases, except for leases of low-value assets. The standard provides specific transition requirements and practical expedients, which has been applied by the Group. Leases previously classified as finance leases The Group did not change the initial carrying amounts of recognized assets and liabilities at the date of initial application for leases previously classified as finance leases (i.e., the right-of-use assets and lease liabilities equal the lease assets and liabilities recognized under IAS 17). The requirements of IFRS 16 was applied to these leases from January 1, 2019. Leases previously accounted for as operating leases The Group recognized right-of-use assets and lease liabilities for those leases previously classified as operating leases, except for leases of low-value assets. The right-of-use assets were recognized based on the amount equal to the lease liabilities, adjusted for any related prepaid and accrued lease payments previously recognized in the consolidated statement of financial position immediately before the date of initial application. Lease liabilities were recognized based on the present value of the remaining lease payments, discounted using the incremental borrowing rate at the date of initial application. The Group also applied the available practical expedients wherein it: • Used a single discount rate to a portfolio of leases with reasonably similar characteristics. • Relied on its assessment of whether leases are onerous immediately before the date of initial application. • Excluded the initial direct costs from the measurement of the right-of-use asset at the date of initial application. • Not separated non-lease components from lease components, and instead accounted for each lease component and any associated non-lease components as a single lease component. Based on the foregoing, as at January 1, 2019: • Right-of-use assets of 5,534 were recognized and presented separately in the consolidated statement of financial position. This includes the lease assets recognized previously under finance leases of 85 that were reclassified from Property, plant and equipment. • Additional lease liabilities of 5,264 were recognized. • Prepayments of 185 related to previous operating leases were derecognized. • Accrued provision of 158 for straight-line adjustments under SIC-15 Operating Leases-Incentives in trade and other payables was adjusted to accumulated losses. The lease liabilities as at January 1, 2019 can be reconciled to the operating lease commitments as of December 31, 2018 as follows: Operating lease commitments as at December 31, 2018 7,212 Weighted average incremental borrowing rate as at January 1, 2019 11.3 % Discounted operating lease commitments as at January 1, 2019 5,264 Add: 69 Lease liabilities as at January 1, 2019 5,333 Information on the Group’s accounting policies with respect to leases is provided in note 2.4(d). Information on the carrying amounts of the Group’s right-of-use assets and lease liabilities and the movements since the initial adoption date is provided in note 15. 2.4 Summary of significant accounting policies a) 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. The Group’s share of profit or loss of an associate is shown on the face of the consolidated statement of profit or loss and other comprehensive income. 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. b) 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 all of the Company’s subsidiaries is the RUB. 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. c) 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 obligated in a transaction, is subject to inventory risk, has discretion in establishing prices, or has several but not all of these indicators, revenues should be recorded on a gross basis. When the Group is not the primary obligor, does not bear the inventory risk and does not have the ability to establish the price, 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 is acting as a principal in these transactions and is primarily obligated in these transactions, is subject to inventory risk and has discretion in establishing prices. 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. The Group updates its estimates on a quarterly basis. 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 a loyalty points program which allows customers to accumulate points 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. 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 and additional discounts. 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 Marketplace commission represents commission fees charged to third-party sellers for selling their goods through the Group’s online marketplace. The Group offers a marketplace platform that enables sellers to sell their products through the Group’s website. Upon sale, the Group charges the third-party sellers a commission fee, which consists of a base fee component and a variable fee component. The base fee is based on the percentage of the selling price depending on the product category. The variable fee component of the commission is paid by the sellers based on the additional services the Group renders to the sellers, such as storage and fulfillment fees for products stored at the Group’s fulfillment centers and delivery fees. The Group’s performance obligation with respect to these transactions is to arrange the transaction through the online platform. Marketplace commission is recognized on a net basis at the point of delivery of products as the Group generally is not the primary obligor, does not bear the inventory risk, and does not have the ability to establish prices for the other party’s goods. The commission revenue is generally withheld by the Company from the payments collected from the customers, either before delivery or upon delivery. viii. Advertising revenue The Group’s advertising services allow vendors and third-party sellers 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 through the Group’s website ozon.travel. 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 as the Group has no significant post-delivery obligations. In addition, revenue from travel services also includes volume incentive fees from certain airlines and global distribution systems partners that control the computer systems through which these reservations are booked. Volume incentive fees are recognized evenly on a monthly basis based on performance estimates under agreements. d) Leases Right-of-use The Group recognizes right-of-use 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 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 at the lease commencement date if the interest rate implicit in the lease is not readily determinable. 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 modification, 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 IFRS 15 for determining when a performance obligation is satisfied in order to determine whether the transfer of an asset is accounted for as a sale of that asset. If the transfer of an asset by the seller-lessee does not satisfy the requirements of IFRS 15 to be accounted for as a sale of the asset, the seller-lessee continues to recognize the transferred asset and recognizes a financial liability equal to the transfer proceeds. The Group accounts for the financial liability applying IFRS 9. 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. e) Cost of sales Cost of sales consists of purchase price of consumer products, including 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. 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 costs of purchased goods and therefore the Group records such amounts as a reduction of cost of sales when such sales occur. Vendor rebates typically depend on reaching minimum purchase thresholds for a specified period. 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 purchase 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. f) Fulfillment and delivery expenses Fulfillment and delivery expenses primarily consist of outbound shipping costs, packaging material costs, costs incurred in operating and staffing the Group’s fulfillment centers, sorting centers, customer service centers and pickup points, expenses related to payment processing, costs associated with use by these functions of facilities and equipment, such as depreciation expenses, and other related costs. Fulfillment and delivery expenses also include amounts paid to third parties that assist the Group in fulfillment, sorting, delivery and customer service operations. Fulfillment and delivery costs are expensed as incurred. g) Sales and marketing expenses Sales and marketing expenses consist primarily of advertising costs and payroll including related expenses for employees involved in marketing and sales activities. 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. The Group also participates in cooperative advertising arrangements with certain of the Group’s vendors and third-party sellers. Sales and marketing costs are expensed as incurred. h) 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. i) General and administrative expenses General and administrative expenses consist of payroll and related expenses for employees involved in general corporate functions, including accounting, finance, tax, legal and human relations, costs associated with use by these functions of facilities and equipment, such as depreciation expenses, premises maintenance expenses and other general corporate expenses. General and administrative expenses are expensed as incurred. j) 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. The cost of equity-settled share-based awards is measured at fair value (excluding the effect of non-market-based Market-based performance criteria are taken into account when determining the fair value at the date of grant. Non-market non-vesting Non-vesting No expense is recognized for awards that do not ultimately vest because non-market non-vesting non-vesting 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. k) 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 and Cyprus is subject to local income taxes at rates of 20.0% 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 valuation allowance is recorded 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. l) Cash and cash equivalents Ca |
Significant Accounting Judgment
Significant Accounting Judgments, Estimates And Assumptions | 12 Months Ended |
Dec. 31, 2020 | |
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. 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 and forecasted demand for inventories and expected selling prices. 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 16. |
Revenue From Contracts With Cus
Revenue From Contracts With Customers | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
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, 2020 At a point in Over time Total revenue Sales of goods 81,414 — 81,414 Service revenue: Marketplace commission 16,503 — 16,503 Delivery services 1,481 280 1,761 Advertising revenue — 3,965 3,965 Travel ticketing commission 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 commission 2,132 — 2,132 Delivery services 1,574 184 1,758 Advertising revenue — 1,421 1,421 Travel ticketing commission 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 For the year ended December 31, 2018 At a point in Over time Total revenue Sales of goods 33,920 — 33,920 Service revenue: Marketplace commission 45 — 45 Delivery services 1,595 — 1,595 Advertising revenue — 282 282 Travel ticketing commission 991 283 1,274 Other revenue 104 — 104 Total service revenue 2,735 565 3,300 Total revenue 36,655 565 37,220 4.2 Contract balances The following table provides information about the Group’s accounts receivable and contract liabilities from contracts with customers: 2020 2019 Accounts receivable (included in the total accounts receivable in note 17) 1,550 787 Contract liabilities (note 23) (5,231 ) (1,402 ) 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 2020 due to the continuous 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: 2020 2019 Right of return assets (note 16) 231 125 Refund liabilities arising from right of return (note 22) (231 ) (124 ) |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Segment Information | 5. SEGMENT INFORMATION The Group has two operating segments, as described below, which are the Group’s strategic business units. 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 Ozon.travel Ozon.ru represents over 99%, 98% and 96% of the Group’s revenue for the years ended December 31, 2020, 2019 and 2018, respectively, therefore, the Group presents Ozon.ru as the only reportable operating segment, as this reflects the consolidated view of operating segments noted above. |
Fulfillment And Delivery Expens
Fulfillment And Delivery Expenses | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Fulfillment And Delivery Expenses | 6. FULFILLMENT AND DELIVERY EXPENSES 2020 2019 2018 Employee-related cost 8,417 6,029 3,632 Outsourcing services 5,103 1,889 535 Delivery fees 3,909 1,783 844 Depreciation and amortization 3,690 1,643 337 Transportation services and vehicle maintenance 3,367 2,097 897 Fees for cash collection 2,795 1,447 789 Premises maintenance and packaging costs 1,589 1,032 530 Share-based compensation expense (reversal) 53 19 (18 ) Premises rental — — 416 Other fulfillment and delivery expenses 1,753 869 270 30,676 16,808 8,232 |
Sales And Marketing Expenses
Sales And Marketing Expenses | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Sales And Marketing Expenses | 7. SALES AND MARKETING EXPENSES 2020 2019 2018 Online marketing 5,447 4,553 2,150 Employee-related cost 2,265 1,178 703 Offline media 1,502 1,146 344 Share-based compensation expense (reversal) 81 14 (42 ) Other sales and marketing expenses 720 262 180 10,015 7,153 3,335 |
Technology And Content Expenses
Technology And Content Expenses | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Technology And Content Expenses | 8. TECHNOLOGY AND CONTENT EXPENSES 2020 2019 2018 Employee-related cost 3,490 2,956 1,826 IT and telecommunication services 615 446 222 Share-based compensation expense 152 16 18 Other technology and content expenses 137 102 57 4,394 3,520 2,123 |
General And Administrative Expe
General And Administrative Expenses | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
General And Administrative Expenses | 9. GENERAL AND ADMINISTRATIVE EXPENSES 2020 2019 2018 Employee-related cost 1,600 924 680 Depreciation and amortization 1,273 947 150 Share-based compensation expense 358 141 124 Premises rental — — 428 Other general and administrative expenses 498 378 360 3,729 2,390 1,742 |
Investment In Associate
Investment In Associate | 12 Months Ended |
Dec. 31, 2020 | |
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 805 713 Non-current 360 267 Current liabilities (951 ) (682 ) Non-current (2 ) (19 ) Net assets of the associate 212 279 Group’s share of net assets – 42.27% (2019: 42.27%) 90 118 Goodwill 964 964 Fair value adjustments (including the effect of the subsequent accounting) 57 57 Group’s carrying amount of the investment 1,111 1,139 2020 2019 2018 Revenue 5,077 3,823 2,600 Profit for the year 278 168 236 Other comprehensive income — — — Total comprehensive income 278 168 236 The Group’s share of profit before fair value adjustments 118 71 99 Amortization of assets based on their fair values at acquisition (6 ) (17 ) (17 ) The Group’s share of total comprehensive income 112 54 82 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 1,139 1,156 Share of total comprehensive income 112 54 Dividends received / receivable (140 ) (71 ) Carrying amount of the investment at the end of the year 1,111 1,139 The associate had no contingent liabilities or capital commitments as at December 31, 2020 and 2019. |
Other Non-Operating Expenses
Other Non-Operating Expenses | 12 Months Ended |
Dec. 31, 2020 | |
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 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Disclosure Of Income Tax Explanatory | 12. INCOME TAX The major components of income tax expense / benefit for the years ended December 31, 2020, 2019 and 2018 are: 2020 2019 2018 Current income tax expense (111 ) (9 ) (1 ) Deferred tax (expense) / benefit (119 ) 188 (62 ) Tax provision — 37 (10 ) Income tax (expense) / benefit for the year (230 ) 216 (73 ) The major part of the Group’s pre-tax Pre-tax non-taxable (non-deductible) pre-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: 2020 2019 2018 Loss before income tax (22,034 ) (19,579 ) (5,588 ) Income tax benefit calculated at Russia’s statutory tax rate (20%) 4,407 3,915 1,118 Effect of unrecognized deferred tax assets (3,669 ) (3,463 ) (1,100 ) Effect of non-deductible (559 ) (234 ) (94 ) Effect of accrued tax provision — 37 (10 ) Effect of foreign exchange loss that is exempt from taxation (409 ) (39 ) 13 Income tax (expense) / benefit for the year (230 ) 216 (73 ) Set out below is the summary of deferred tax assets and liabilities as at December 31, 2020 and 2019: Consolidated statement of as at December 31, Consolidated statement of profit or loss and 2020 2019 2020 2019 Deferred tax assets arising from: Tax losses carried forward 8,739 5,557 3,182 3,463 Inventories 298 232 66 190 Leases 248 114 134 114 Employee benefits 195 87 108 (1 ) Accounts receivable and advances paid 80 57 23 33 Loyalty points program 21 3 18 (12 ) Prepaid and accrued expenses 8 5 3 (33 ) Other items 15 — 15 — Total deferred tax assets 9,604 6,055 3,549 3,754 less: unrecognized deferred tax assets (9,226 ) (5,557 ) (3,669 ) (3,463 ) Total deferred tax assets, net of unrecognized deferred tax assets 378 498 (120 ) 291 Deferred tax liabilities arising from: Property, plant and equipment (311 ) (352 ) 41 (110 ) Accrued revenue (89 ) (49 ) (40 ) 6 Other items — — — 1 Total deferred tax liabilities (400 ) (401 ) 1 (103 ) Net deferred tax asset / (liability) (22 ) 97 — — Net deferred tax asset 44 253 — — Net deferred tax liability (66 ) (156 ) — — Deferred tax (expense) / benefit — — (119 ) 188 Deferred tax assets have not been recognized in respect of tax losses and other deductible temporary differences in the cumulative amounts of 43,700 and 2,430, respectively, as at December 31, 2020, and tax losses in the amount of 27,785 as at December 31, 2019. The tax losses and deductible temporary differences do not expire. 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. |
Earning Per Share (EPS)
Earning Per Share (EPS) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Earning Per Share (EPS) | 13. EARNINGS PER SHARE (EPS) Basic EPS is calculated by dividing the profit / (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 EPS is calculated by dividing the profit / (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, 2020, 2019 and 2018, outstanding share-based awards and a convertible loan 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 EPS calculations: 2020 2019 2018 Loss attributable to the parent entity (22,264 ) (19,363 ) (5,661 ) Effects of the settlement of preference shares classified as equity 33 15 29 Loss attributable to ordinary equity holders of the parent entity (22,231 ) (19,348 ) (5,632 ) Weighted average number of ordinary shares 164,605,952 128,597,975 92,999,825 Basic and diluted loss per share (RUB) (135.1 ) (150.4 ) (60.6 ) There have been no other transactions involving ordinary shares or potential ordinary shares between the reporting date and the date of authorisation of these consolidated financial statements. |
Property, Plant and Equipment
Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Property, Plant and Equipment | 14. PROPERTY, PLANT AND EQUIPMENT Land Buildings Engineering Warehouse Transportation Computer Other Construction in-progress Total Cost Balance at January 1, 2019 80 1,279 221 1,733 172 588 800 660 5,533 Additions — — — — — — — 3,833 3,833 Transfer — 544 68 2,070 — 445 1,124 (4,251 ) — Reclassification to right-of-use — — — — (118 ) — — — (118 ) Disposals — — — (10 ) — (13 ) (16 ) — (39 ) Balance at December 31, 2019 80 1,823 289 3,793 54 1,020 1,908 242 9,209 Additions — — — — — — — 6,618 6,618 Transfer — — 14 4,240 — 792 1,452 (6,498 ) — Disposals — — — (93 ) — (80 ) (113 ) — (286 ) Balance at December 31, 2020 80 1,823 303 7,940 54 1,732 3,247 362 15,541 Accumulated depreciation Balance at January 1, 2019 — (135 ) (109 ) (419 ) (79 ) (140 ) (335 ) — (1,217 ) Charge for the year — (38 ) (19 ) (352 ) (7 ) (250 ) (213 ) — (879 ) Reclassification to right-of-use — — — — 33 — — — 33 Disposals — — — 5 — 10 15 — 30 Balance at December 31, 2019 — (173 ) (128 ) (766 ) (53 ) (380 ) (533 ) — (2,033 ) Charge for the year — (40 ) (24 ) (755 ) (1 ) (495 ) (534 ) — (1,849 ) Disposals — — — 80 — 74 56 — 210 Balance at December 31, 2020 — (213 ) (152 ) (1,441 ) (54 ) (801 ) (1,011 ) — (3,672 ) Carrying amounts Balance at December 31, 2019 80 1,650 161 3,027 1 640 1,375 242 7,176 Balance at December 31, 2020 80 1,610 151 6,499 — 931 2,236 362 11,869 As at December 31, 2020, the Group pledged part of its property, plant and equipment with a carrying amount of 297 (December 31, 2019: 1,238) in order to fulfil the collateral requirements for certain Group’s borrowings (note 20). |
Leases
Leases | 12 Months Ended |
Dec. 31, 2020 | |
Presentation of leases for lessee [abstract] | |
Disclosure of leases [text block] | 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, 2019 1,295 3,898 256 85 5,534 5,333 Additions 3,064 495 1,016 796 5,371 5,171 Remeasurement / modification (65 ) 27 10 — (28 ) (28 ) Reclassification 31 — (31 ) — — — Depreciation expense (636 ) (660 ) (167 ) (145 ) (1,608 ) — Interest expense — — — — — 833 Payments — — — — — (1,700 ) As at December 31, 2019 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 ) Adjustment 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 The Group recognized variable lease payments of 169 for the year ended December 31, 2020 (2019: 93). Lease commitments The Group entered into lease contracts for offices, fulfillment and sorting centers that have not yet commenced as at December 31, 2020. The lease terms are from 3 to 10 years. The future lease payments for these lease contracts are 848 during 2021, 6,175 from 2022 to 2024, 6,730 from 2025 to 2027 and 5,368 thereafter. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Disclosure of inventories [text block] | 16. INVENTORIES December 31, December 31, Merchandise held for resale 15,977 11,439 Right of return assets 231 125 Other inventories 216 119 Inventory valuation allowance (1,082 ) (909 ) 15,342 10,774 In 2020, inventories of 75,929 (2019: 49,524) were recognized as an expense during the year, in which the related revenue is recognized, and included in cost of sales. In addition, the Group recorded 4,871 (2019: 2,488) of rebates and subsidies from certain vendors which were recognized as a reduction of cost of sales. In 2020, inventories were reduced by 173 (2019: 703) as a result of the write-down to net realizable value. In addition, losses of inventories amounted to 309 (2019: 514). The write-downs and losses of inventories were recognized as an expense during the period and included in cost of sales. |
Accounts Receivables
Accounts Receivables | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Disclosure of trade and other receivables [text block] | 17. ACCOUNTS RECEIVABLE December 31, December 31, Accounts receivable 3,451 2,826 Allowance for expected credit losses and impaired receivables (46 ) (83 ) 3,405 2,743 Set out below is the movement in the allowance for expected credit losses of accounts receivable: 2020 2019 Balance at the beginning of the year (83 ) (94 ) Allowance for expected credit losses (20 ) (17 ) Amounts written off during the year as uncollectable 57 28 Balance at the end of the year (46 ) (83 ) Information about the Group’s exposure to credit and market risks is presented in note 26. |
Cash and cash equivalents
Cash and cash equivalents | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Disclosure of cash and cash equivalents [text block] | 18. CASH AND CASH EQUIVALENTS December 31, December 31, Short-term deposits 59,331 1,955 Current bank accounts 43,749 701 Cash in transit 606 320 Petty cash 16 27 Cash and cash equivalents in the consolidated statements of financial position 103,702 3,003 Bank overdrafts — (9 ) Cash and cash equivalents in the consolidated statements of cash flows 103,702 2,994 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 26. |
Share Capital, Share Premium An
Share Capital, Share Premium And Other Capital Reserves | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Share Capital, Share Premium And Other Capital Reserves | 19. SHARE CAPITAL, SHARE PREMIUM AND OTHER CAPITAL RESERVES Capital reorganization 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. Authorised Issued and fully paid December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Ordinary shares of USD 0.001 each 559,999,998 147,525,950 203,729,958 137,472,875 Preference shares of USD 0.001 each — 9,974,050 — 134,575 Class A shares of USD 0.001 each 2 — 2 — 560,000,000 157,500,000 203,729,960 137,607,450 Share capital and share premium Quantity Ordinary shares Preference Share capital Share At January 1, 2019 98,780,600 91,675 4 15,484 Issue of shares from a conversion of loans 38,692,275 — 2 16,558 Issue of shares upon exercise of share-based awards — 42,900 — 15 Transaction costs — — — (4 ) At December 31, 2019 137,472,875 134,575 6 32,053 Issue of shares in the IPO 37,950,000 — 3 85,899 Issue of shares in the private placement 4,500,000 — — 10,186 Issue of shares from a conversion of loans 23,484,183 — 2 11,088 Issue of shares upon exercise of share-based awards — 188,325 — 33 Conversion of preference shares 322,900 (322,900 ) — — Issue of Class A shares 2 — — — Transaction costs — — — (5,820 ) At December 31, 2020 203,729,960 — 11 133,439 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. Other capital reserves 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. |
Borrowings
Borrowings | 12 Months Ended |
Dec. 31, 2020 | |
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Borrowings | 20. BORROWINGS Effective December 31, December 31, Currency Maturity Amount, incl. Amount, incl. Convertible loan n/a RUB n/a — 3,594 Bank loans 15.0 % RUB March 2021 6,639 246 Equipment financing 9.8 % RUB 2021-2030 2,809 267 Bank overdrafts n/a RUB n/a — 9 Total 9,448 4,116 Current 7,125 3,950 Non-current 2,323 166 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. Bank loans In March 2020, the Group received 6,000 in cash under a one-year Equipment financing The Group (”the seller-lessee”) entered into a sale and leaseback of warehouse equipment and fulfillment center with third parties (“the buyers-lessors”). The Group has determined that these sale and leaseback transactions do not meet the requirements of IFRS 15 to be accounted for as a sale of the asset. The Group continued to account for the warehouse equipment and fulfillment center as part of property, plant and equipment and recognized financial liabilities equal to the transfer proceeds. 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, 2020 | |
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Trade and Other Payables | 21. TRADE AND OTHER PAYABLES December 31, December 31, Trade payables 32,437 18,725 Payables to third-party sellers on the marketplace platform 9,437 1,912 Payables under the reverse factoring program 223 — Payroll payables, including related taxes 372 299 Other payables 154 306 Total 42,623 21,242 Current 42,545 21,242 Non-current 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 26. The Group participates in a reverse factoring program 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 to the bank 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. The payments to a supplier by the bank are considered non-cash |
Accrued Expenses
Accrued Expenses | 12 Months Ended |
Dec. 31, 2020 | |
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Accrued Expenses | 22. ACCRUED EXPENSES December 31, December 31, Holiday provision, including payroll related taxes 665 351 Provision for reimbursements to third-party sellers 407 256 Employee bonuses, including payroll related taxes 309 86 Refund liability 231 124 Tax provisions 65 90 Total 1,677 907 |
Customer Advances and Deferred
Customer Advances and Deferred Income | 12 Months Ended |
Dec. 31, 2020 | |
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Customer Advances and Deferred Income | 23. CUSTOMER ADVANCES AND DEFERRED INCOME December 31, December 31, Customer advances 3,763 972 Unredeemed gift certificates 864 374 Upfront fees under ADS program 408 — Loyalty points program 148 15 Ozon Premium 48 41 Total 5,231 1,402 Current 4,825 1,402 Non-current 406 — |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2020 | |
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Share-Based Compensation | 24. 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 has outstanding awards under a 2018 Equity Incentive Agreement (“2018 EIA”) and a 2009 Stock Option Agreement (“2009 SOA”). 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. 1/16 of each award vests at the end of each calendar quarter following the grant 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. 2018 EIA The 2018 EIA represents a share option agreement between the Company and Mr. Shulgin, Chief Executive Officer of the Company’s key operating subsidiary, Internet Solutions LLC, to purchase, in whole or in part, subject to vesting and other terms, at his voluntary decision or mandatory upon occurrence of some events such as control stake sale transaction as defined in the Company’s articles of association or on the tenth anniversary from the award date up to 1,058,275 ordinary shares of the Company. The exercise price per option will be determined by a certain formula based on a total exercise price of USD 4 million and 8% p.a. interest rate. The option has vested but has not been exercised as of the date of these consolidated financial statements. The shares can be acquired by the payment of the exercise price or on a net basis by forfeiting rights to a portion of shares. 2009 SOA The 2009 SOA is 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. 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. No amounts are paid or payable by the recipient on receipt of the award, except for purchase price of USD 1.5 million paid in 2018 by the participant under the 2018 EIA. 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. The following table reconciles awards outstanding at the beginning and the end of the year: Options SARs RSUs Weighted Quantity Weighted Quantity Weighted Quantity Weighted average As at December 31, 2018 8.6 1,558,275 240 833,650 258 4,905,000 324 Granted — — — — — 3,207,875 428 Forfeited — — — (180,750 ) 260 (1,795,000 ) 340 As at December 31, 2019 8.2 1,558,275 240 652,900 257 6,317,875 364 Granted — — — — — 5,288,725 1,713 Exercised — — — (8,050 ) 260 (187,850 ) 326 Forfeited — — — (121,036 ) 258 (1,008,163 ) 411 As at December 31, 2020 8.2 1,558,275 240 523,814 257 10,410,587 1,047 Exercisable as at December 31, 2020 6.8 1,558,275 240 506,494 257 3,140,056 355 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, 2020, 2019 and 2018. 2020 2019 2018 Fulfillment and delivery (note 6) 53 19 (18 ) Sales and marketing (note 7) 81 14 (42 ) Technology and content (note 8) 152 16 18 General and administrative (note 9) 358 141 124 644 190 82 Measurement of fair values The fair values of awards 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, 2019 and 2018 are the following: 2020 2019 2018 Expected annual volatility 48 % 45 % 42 % Expected term, years 4 4 4 Dividend yield None None None Risk-free interest rate 5.7 % 7.3 % 7.4 % Expected volatility Expected term. non-transferability, 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. 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 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, 2020 | |
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Related Parties | 25. RELATED PARTIES Notes 10 and 19 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 2020 — 193 — 9 Sistema PJSFC 2019 — 309 — 18 Sistema PJSFC 2018 5 226 — 15 Associate: Litres 2020 6 11 144 ** 2 Litres 2019 5 6 1 3 Litres 2018 5 1 — 1 * 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. The Group has several accounts at MTS-Bank MTS-Bank MTS-Bank Purchases from Sistema PJSFC (as a group of companies) relate mainly to the purchases of telecommunication services (phone service, internet, etc.), payment processing services and agent services (cash collection from the Group’s customers). Purchases from Litres relate to the subscription for the library of e-books. Outstanding balances with related parties at the year-end Transactions with key management personnel The remuneration of key management personnel for the year ended December 31, 2020, 2019 and 2018 amounted to: 2020 2019 2018 Short-term employee benefits (i) 53 33 31 Share-based compensation expense (ii) 224 93 188 277 126 219 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 Man
Financial Instruments, Risk Management and Capital Management | 12 Months Ended |
Dec. 31, 2020 | |
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Financial Instruments, Risk Management and Capital Management | 26. FINANCIAL INSTRUMENTS, RISK MANAGEMENT AND CAPITAL MANAGEMENT 26.1 Financial assets and financial liabilities The following table shows the carrying amounts of financial assets and financial liabilities. The Group does not hold any financial assets and financial liabilities other than those measured at amortized cost. 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. December 31, December 31, Financial assets measured at amortized cost Cash and cash equivalents (note 18) 103,702 3,003 Accounts receivable (note 17) 3,405 2,743 Security deposits 332 213 Other financial assets 111 — Total financial assets 107,550 5,959 Financial liabilities measured at amortized cost Trade and other payables (note 21) 42,623 21,242 Lease liabilities (note 15) 15,490 9,609 Borrowings (note 20) 9,448 4,116 Accrued expenses (note 22) 1,677 907 Total financial liabilities 69,238 35,874 26.2 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. 26.2.1 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, accounts receivable 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. 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 primarily to the Group’s operating activities (when revenue or expense is 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 2020 2019 2020 2019 Assets 68,224 148 58 34 Liabilities (314 ) (32 ) (94 ) (27 ) Net position 67,910 116 (36 ) 7 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 and future cash flows 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, 2020 USD +30%/-30% 20,373/(20,373) EUR +30%/-30% (11)/11 Year ended December 31, 2019 USD +30%/-30% 35/(35) EUR +30%/-30% 2/(2) 26.2.2 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 and cash equivalents held with banks. Accounts receivable The Group’s accounts receivable mainly consist of amounts due from vendors (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. The table below reflects the allowance for expected credit losses of accounts receivable by customer types: December 31, December 31, Cash collectors 20 66 Others 26 17 Total allowance for expected credit losses 46 83 Generally, accounts receivable are written-off Cash and cash equivalents The Group held cash and cash equivalents of 103,702 at December 31, 2020 (2019: 3,003). The cash and cash equivalents are primarily held with banks, which are rated not less than BBB- BBB-/BBB Impairment on cash and cash equivalents has been measured on a 12-month 26.2.3 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 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 Accrued expenses — 1,677 — — — 1,677 Total financial liabilities — 56,567 8,836 5,417 4,386 75,206 On demand Within 1 year 1 to 3 years 3 to 5 years > 5 years Total 2019 Trade and other payables — 21,242 — — — 21,242 Borrowings 3,840 110 166 — — 4,116 Lease liabilities — 2,737 5,042 3,183 1,613 12,575 Accrued expenses — 907 — — — 907 Total financial liabilities 3,840 24,996 5,208 3,183 1,613 38,840 26.3 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 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 January 1, Financing cash flows Leases (non-cash) Other December 31, Borrowings 409 3,603 — 104 4,116 Lease liabilities 5,333 (867 ) 5,143 — 9,609 5,742 2,736 5,143 104 13,725 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. 26.4 Capital management The Group manages its capital to ensure that companies in the Group will be able to continue as a going concern while maximising the return to shareholders through the optimisation 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 20) 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 covenants would permit the bank to immediately call borrowings. No changes were made in the objectives, policies or processes for managing capital during the years ended December 31, 2020 and 2019. |
Contingencies
Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
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Contingencies | 27. 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. Russian Federation tax and regulatory environment The taxation system in the Russian Federation continues to evolve and is characterised by frequent changes in legislation, official pronouncements and court decisions, which are sometimes contradictory and subject to varying interpretation by different tax authorities. Management’s interpretation of such legislation as applied to the transactions and activity of the Group may be challenged by a number of authorities, which may impose severe fines, penalties and interest charges. 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. The Group estimates that possible exposure in relation to the above mentioned risks, as well as other tax risks (e.g. unjustified tax benefits), that are more than remote, but for which no liability is required to be recognized, could be up to approximately 169. This estimation is provided for possible taxes disclosure only and should not be considered as an estimate of the Group’s potential tax liability. Operating environment The Group’s operations are primarily located in the Russian Federation. Consequently, the Group is exposed to the economic and financial markets of the Russian Federation, which display the characteristics of an emerging market. The legal, tax and regulatory frameworks continue development, but are subject to varying interpretations and frequent changes which contribute together with other legal and fiscal impediments to the challenges faced by entities operating in the Russian Federation. Starting in 2014, the United States of America, the European Union and some other countries have imposed and gradually expanded economic sanctions against a number of Russian individuals and legal entities. The imposition of the sanctions has led to increased economic uncertainty, including more volatile equity markets, a depreciation of the Russian Ruble, a reduction in both local and foreign direct investment inflows and a significant tightening in the availability of credit. As a result, some Russian entities may experience difficulties accessing the international equity and debt markets and may become increasingly dependent on state support for their operations. The long-term effects of the imposed and possible additional sanctions are difficult to determine. The consolidated financial statements reflect management’s assessment of the impact of the Russian business environment on the operations and the financial position of the Group. The future business environment may differ from management’s assessment. COVID-19 In March 2020, the World Health Organization declared the COVID-19 COVID-19 |
Events After the Reporting Date
Events After the Reporting Date | 12 Months Ended |
Dec. 31, 2020 | |
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Events After the Reporting Date | 28. EVENTS AFTER THE REPORTING DATE In January 2021, the Group repaid all the bank loans outstanding at December 31, 2020 in the amount of 6,639 (note 20). 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. 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 the conversion price set at USD 86.6480. In March 2021, the Company granted to certain employees 314,230 RSUs with zero exercise price. Under this grant, each RSU entitles the recipient, subject to vesting and other terms, to receive on the fourth anniversary from the award date for nil consideration one ordinary share of the Company. In March 2021, the Company issued 193,358 ordinary shares upon exercise of 200,000 options under 2009 SOA. |
Significant Accounting Polici_2
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
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Investments in associates | a) 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. The Group’s share of profit or loss of an associate is shown on the face of the consolidated statement of profit or loss and other comprehensive income. 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 | b) 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 all of the Company’s subsidiaries is the RUB. 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 | c) 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 obligated in a transaction, is subject to inventory risk, has discretion in establishing prices, or has several but not all of these indicators, revenues should be recorded on a gross basis. When the Group is not the primary obligor, does not bear the inventory risk and does not have the ability to establish the price, 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 is acting as a principal in these transactions and is primarily obligated in these transactions, is subject to inventory risk and has discretion in establishing prices. 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. The Group updates its estimates on a quarterly basis. 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 a loyalty points program which allows customers to accumulate points 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. 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 and additional discounts. 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 Marketplace commission represents commission fees charged to third-party sellers for selling their goods through the Group’s online marketplace. The Group offers a marketplace platform that enables sellers to sell their products through the Group’s website. Upon sale, the Group charges the third-party sellers a commission fee, which consists of a base fee component and a variable fee component. The base fee is based on the percentage of the selling price depending on the product category. The variable fee component of the commission is paid by the sellers based on the additional services the Group renders to the sellers, such as storage and fulfillment fees for products stored at the Group’s fulfillment centers and delivery fees. The Group’s performance obligation with respect to these transactions is to arrange the transaction through the online platform. Marketplace commission is recognized on a net basis at the point of delivery of products as the Group generally is not the primary obligor, does not bear the inventory risk, and does not have the ability to establish prices for the other party’s goods. The commission revenue is generally withheld by the Company from the payments collected from the customers, either before delivery or upon delivery. viii. Advertising revenue The Group’s advertising services allow vendors and third-party sellers 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 through the Group’s website ozon.travel. 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 as the Group has no significant post-delivery obligations. In addition, revenue from travel services also includes volume incentive fees from certain airlines and global distribution systems partners that control the computer systems through which these reservations are booked. Volume incentive fees are recognized evenly on a monthly basis based on performance estimates under agreements. |
Leases | d) Leases Right-of-use The Group recognizes right-of-use 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 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 at the lease commencement date if the interest rate implicit in the lease is not readily determinable. 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 modification, 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 IFRS 15 for determining when a performance obligation is satisfied in order to determine whether the transfer of an asset is accounted for as a sale of that asset. If the transfer of an asset by the seller-lessee does not satisfy the requirements of IFRS 15 to be accounted for as a sale of the asset, the seller-lessee continues to recognize the transferred asset and recognizes a financial liability equal to the transfer proceeds. The Group accounts for the financial liability applying IFRS 9. 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 | e) Cost of sales Cost of sales consists of purchase price of consumer products, including 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. 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 costs of purchased goods and therefore the Group records such amounts as a reduction of cost of sales when such sales occur. Vendor rebates typically depend on reaching minimum purchase thresholds for a specified period. 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 purchase 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 | f) Fulfillment and delivery expenses Fulfillment and delivery expenses primarily consist of outbound shipping costs, packaging material costs, costs incurred in operating and staffing the Group’s fulfillment centers, sorting centers, customer service centers and pickup points, expenses related to payment processing, costs associated with use by these functions of facilities and equipment, such as depreciation expenses, and other related costs. Fulfillment and delivery expenses also include amounts paid to 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 | g) Sales and marketing expenses Sales and marketing expenses consist primarily of advertising costs and payroll including related expenses for employees involved in marketing and sales activities. 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. The Group also participates in cooperative advertising arrangements with certain of the Group’s vendors and third-party sellers. Sales and marketing costs are expensed as incurred. |
Technology and content expenses | h) 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 | i) General and administrative expenses General and administrative expenses consist of payroll and related expenses for employees involved in general corporate functions, including accounting, finance, tax, legal and human relations, costs associated with use by these functions of facilities and equipment, such as depreciation expenses, premises maintenance expenses and other general corporate expenses. General and administrative expenses are expensed as incurred. |
Share-based awards | j) 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. The cost of equity-settled share-based awards is measured at fair value (excluding the effect of non-market-based Market-based performance criteria are taken into account when determining the fair value at the date of grant. Non-market non-vesting Non-vesting No expense is recognized for awards that do not ultimately vest because non-market non-vesting non-vesting 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 | k) 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 and Cyprus is subject to local income taxes at rates of 20.0% 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 valuation allowance is recorded 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 | l) 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 | m) 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 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 Management of the Group reviews the carrying amount of property, plant and equipment for impairment when there is an indication that the carrying amount may exceed the expected recoverable amount. |
Inventories | n) Inventories Inventories, consisting of products available for sale, are primarily accounted for using the weighted average cost method, 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 aging groups of goods. In determining the allowance percentages on inventories, the Group considers the historical and forecasted demand for inventories and expected selling prices. 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. |
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. 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 and other comprehensive income 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 and other comprehensive income when the asset is derecognized. Management of the Group reviews the carrying amount of intangible assets for an impairment as a part of the respective cash-generating unit when there is an indication that the carrying amount of such cash-generating unit may exceed the expected recoverable amount. |
Impairment of long-lived assets | p) Impairment of long-lived assets The Group assesses, at each reporting date, whether there is any indication that an 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 it is not possible to estimate the recoverable amount of an individual asset, 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. |
Provisions | q) 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. 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 | r) 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 | s) Financial instruments Initial recognition and measurement In accordance with IFRS 9, 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 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, security deposits (accounted for as cash collateral provided to the lessor) and accounts receivable. The Group’s financial liabilities include trade and other payables, accrued expenses, lease liabilities, and loans and borrowings including bank overdrafts. Subsequent measurement Financial assets and financial liabilities at amortized cost This category is the most relevant to the Group. 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. 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 transferred control of the asset. 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. 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, ECLs are measured on either of the following bases: • 12-month • 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. The Group has established 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. 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 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- • 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 legal right to offset the recognized amounts and there is an intention to settle on a net basis, to realize the assets and settle the liabilities simultaneously. |
Convertible instruments | t) Convertible instruments Convertible instruments are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangement. |
Corporate Information (Tables)
Corporate Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 2020 2019 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, 2020 | |
Text Block [Abstract] | |
Summary of the effect of adoption IFRS 16 | The effect of adoption IFRS 16 as at January 1, 2019 (increase / (decrease)) is as follows: January 1, Assets Right-of-use assets 5,534 Property, plant and equipment (85 ) Advances paid and other current non-financial assets (185 ) Total assets 5,264 Liabilities Lease liabilities 5,264 Trade and other payables (158 ) Total liabilities 5,106 Equity Accumulated losses 158 Total equity 158 |
Summary of reconciled to the operating lease commitments | The lease liabilities as at January 1, 2019 can be reconciled to the operating lease commitments as of December 31, 2018 as follows: Operating lease commitments as at December 31, 2018 7,212 Weighted average incremental borrowing rate as at January 1, 2019 11.3 % Discounted operating lease commitments as at January 1, 2019 5,264 Add: 69 Lease liabilities as at January 1, 2019 5,333 |
Summary of the right of use assets | Right-of-use Fulfillment and sorting centers 3-10 Office premises 2-7 Pick-up 3 Vehicles 3-4 |
Summary of depreciation calculated on straight-line basis over the estimated useful lives of 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 |
Revenue From Contracts With C_2
Revenue From Contracts With Customers (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020 At a point in Over time Total revenue Sales of goods 81,414 — 81,414 Service revenue: Marketplace commission 16,503 — 16,503 Delivery services 1,481 280 1,761 Advertising revenue — 3,965 3,965 Travel ticketing commission 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 commission 2,132 — 2,132 Delivery services 1,574 184 1,758 Advertising revenue — 1,421 1,421 Travel ticketing commission 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 For the year ended December 31, 2018 At a point in Over time Total revenue Sales of goods 33,920 — 33,920 Service revenue: Marketplace commission 45 — 45 Delivery services 1,595 — 1,595 Advertising revenue — 282 282 Travel ticketing commission 991 283 1,274 Other revenue 104 — 104 Total service revenue 2,735 565 3,300 Total revenue 36,655 565 37,220 |
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: 2020 2019 Accounts receivable (included in the total accounts receivable in note 17) 1,550 787 Contract liabilities (note 23) (5,231 ) (1,402 ) |
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: 2020 2019 Right of return assets (note 16) 231 125 Refund liabilities arising from right of return (note 22) (231 ) (124 ) |
Fulfillment And delivery Expe_2
Fulfillment And delivery Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of fulfillment and delivery expenses | 2020 2019 2018 Employee-related cost 8,417 6,029 3,632 Outsourcing services 5,103 1,889 535 Delivery fees 3,909 1,783 844 Depreciation and amortization 3,690 1,643 337 Transportation services and vehicle maintenance 3,367 2,097 897 Fees for cash collection 2,795 1,447 789 Premises maintenance and packaging costs 1,589 1,032 530 Share-based compensation expense (reversal) 53 19 (18 ) Premises rental — — 416 Other fulfillment and delivery expenses 1,753 869 270 30,676 16,808 8,232 |
Sales And Marketing Expenses (T
Sales And Marketing Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of detailed information about sales and marketing expense | 2020 2019 2018 Online marketing 5,447 4,553 2,150 Employee-related cost 2,265 1,178 703 Offline media 1,502 1,146 344 Share-based compensation expense (reversal) 81 14 (42 ) Other sales and marketing expenses 720 262 180 10,015 7,153 3,335 |
Technology And Content Expens_2
Technology And Content Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of technology and content expense | 2020 2019 2018 Employee-related cost 3,490 2,956 1,826 IT and telecommunication services 615 446 222 Share-based compensation expense 152 16 18 Other technology and content expenses 137 102 57 4,394 3,520 2,123 |
General And Administrative Ex_2
General And Administrative Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary of general and administrative expense | 2020 2019 2018 Employee-related cost 1,600 924 680 Depreciation and amortization 1,273 947 150 Share-based compensation expense 358 141 124 Premises rental — — 428 Other general and administrative expenses 498 378 360 3,729 2,390 1,742 |
Investment In Associate (Tables
Investment In Associate (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 805 713 Non-current 360 267 Current liabilities (951 ) (682 ) Non-current (2 ) (19 ) Net assets of the associate 212 279 Group’s share of net assets – 42.27% (2019: 42.27%) 90 118 Goodwill 964 964 Fair value adjustments (including the effect of the subsequent accounting) 57 57 Group’s carrying amount of the investment 1,111 1,139 2020 2019 2018 Revenue 5,077 3,823 2,600 Profit for the year 278 168 236 Other comprehensive income — — — Total comprehensive income 278 168 236 The Group’s share of profit before fair value adjustments 118 71 99 Amortization of assets based on their fair values at acquisition (6 ) (17 ) (17 ) The Group’s share of total comprehensive income 112 54 82 |
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 1,139 1,156 Share of total comprehensive income 112 54 Dividends received / receivable (140 ) (71 ) Carrying amount of the investment at the end of the year 1,111 1,139 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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, 2020, 2019 and 2018 are: 2020 2019 2018 Current income tax expense (111 ) (9 ) (1 ) Deferred tax (expense) / benefit (119 ) 188 (62 ) Tax provision — 37 (10 ) Income tax (expense) / benefit for the year (230 ) 216 (73 ) |
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: 2020 2019 2018 Loss before income tax (22,034 ) (19,579 ) (5,588 ) Income tax benefit calculated at Russia’s statutory tax rate (20%) 4,407 3,915 1,118 Effect of unrecognized deferred tax assets (3,669 ) (3,463 ) (1,100 ) Effect of non-deductible (559 ) (234 ) (94 ) Effect of accrued tax provision — 37 (10 ) Effect of foreign exchange loss that is exempt from taxation (409 ) (39 ) 13 Income tax (expense) / benefit for the year (230 ) 216 (73 ) |
Summary of deferred tax assets and liabilities | Set out below is the summary of deferred tax assets and liabilities as at December 31, 2020 and 2019: Consolidated statement of as at December 31, Consolidated statement of profit or loss and 2020 2019 2020 2019 Deferred tax assets arising from: Tax losses carried forward 8,739 5,557 3,182 3,463 Inventories 298 232 66 190 Leases 248 114 134 114 Employee benefits 195 87 108 (1 ) Accounts receivable and advances paid 80 57 23 33 Loyalty points program 21 3 18 (12 ) Prepaid and accrued expenses 8 5 3 (33 ) Other items 15 — 15 — Total deferred tax assets 9,604 6,055 3,549 3,754 less: unrecognized deferred tax assets (9,226 ) (5,557 ) (3,669 ) (3,463 ) Total deferred tax assets, net of unrecognized deferred tax assets 378 498 (120 ) 291 Deferred tax liabilities arising from: Property, plant and equipment (311 ) (352 ) 41 (110 ) Accrued revenue (89 ) (49 ) (40 ) 6 Other items — — — 1 Total deferred tax liabilities (400 ) (401 ) 1 (103 ) Net deferred tax asset / (liability) (22 ) 97 — — Net deferred tax asset 44 253 — — Net deferred tax liability (66 ) (156 ) — — Deferred tax (expense) / benefit — — (119 ) 188 |
Earning Per Share (EPS) (Tables
Earning Per Share (EPS) (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 EPS calculations: 2020 2019 2018 Loss attributable to the parent entity (22,264 ) (19,363 ) (5,661 ) Effects of the settlement of preference shares classified as equity 33 15 29 Loss attributable to ordinary equity holders of the parent entity (22,231 ) (19,348 ) (5,632 ) Weighted average number of ordinary shares 164,605,952 128,597,975 92,999,825 Basic and diluted loss per share (RUB) (135.1 ) (150.4 ) (60.6 ) |
Property, Plant and Equipment (
Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary Of Property, Plant and Equipment | Land Buildings Engineering Warehouse Transportation Computer Other Construction in-progress Total Cost Balance at January 1, 2019 80 1,279 221 1,733 172 588 800 660 5,533 Additions — — — — — — — 3,833 3,833 Transfer — 544 68 2,070 — 445 1,124 (4,251 ) — Reclassification to right-of-use — — — — (118 ) — — — (118 ) Disposals — — — (10 ) — (13 ) (16 ) — (39 ) Balance at December 31, 2019 80 1,823 289 3,793 54 1,020 1,908 242 9,209 Additions — — — — — — — 6,618 6,618 Transfer — — 14 4,240 — 792 1,452 (6,498 ) — Disposals — — — (93 ) — (80 ) (113 ) — (286 ) Balance at December 31, 2020 80 1,823 303 7,940 54 1,732 3,247 362 15,541 Accumulated depreciation Balance at January 1, 2019 — (135 ) (109 ) (419 ) (79 ) (140 ) (335 ) — (1,217 ) Charge for the year — (38 ) (19 ) (352 ) (7 ) (250 ) (213 ) — (879 ) Reclassification to right-of-use — — — — 33 — — — 33 Disposals — — — 5 — 10 15 — 30 Balance at December 31, 2019 — (173 ) (128 ) (766 ) (53 ) (380 ) (533 ) — (2,033 ) Charge for the year — (40 ) (24 ) (755 ) (1 ) (495 ) (534 ) — (1,849 ) Disposals — — — 80 — 74 56 — 210 Balance at December 31, 2020 — (213 ) (152 ) (1,441 ) (54 ) (801 ) (1,011 ) — (3,672 ) Carrying amounts Balance at December 31, 2019 80 1,650 161 3,027 1 640 1,375 242 7,176 Balance at December 31, 2020 80 1,610 151 6,499 — 931 2,236 362 11,869 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of quantitative information about right-of-use assets [abstract] | |
Disclosure of quantitative information about right-of-use assets [text block] | 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, 2019 1,295 3,898 256 85 5,534 5,333 Additions 3,064 495 1,016 796 5,371 5,171 Remeasurement / modification (65 ) 27 10 — (28 ) (28 ) Reclassification 31 — (31 ) — — — Depreciation expense (636 ) (660 ) (167 ) (145 ) (1,608 ) — Interest expense — — — — — 833 Payments — — — — — (1,700 ) As at December 31, 2019 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 ) Adjustment 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 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Inventories [Abstract] | |
Disclosure Of Aggregate Inventories [Text Block] | December 31, December 31, Merchandise held for resale 15,977 11,439 Right of return assets 231 125 Other inventories 216 119 Inventory valuation allowance (1,082 ) (909 ) 15,342 10,774 |
Accounts Receivables (Tables)
Accounts Receivables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of Accounts Receivable [Abstract] | |
Disclosure of Accounts Receivable Explanatory [Text Block] | December 31, December 31, Accounts receivable 3,451 2,826 Allowance for expected credit losses and impaired receivables (46 ) (83 ) 3,405 2,743 Set out below is the movement in the allowance for expected credit losses of accounts receivable: 2020 2019 Balance at the beginning of the year (83 ) (94 ) Allowance for expected credit losses (20 ) (17 ) Amounts written off during the year as uncollectable 57 28 Balance at the end of the year (46 ) (83 ) |
Cash and cash equivalents (Tabl
Cash and cash equivalents (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Cash and cash equivalents [abstract] | |
Disclosure of Cash And Cash Equivalents Explanatory [Text Block] | December 31, December 31, Short-term deposits 59,331 1,955 Current bank accounts 43,749 701 Cash in transit 606 320 Petty cash 16 27 Cash and cash equivalents in the consolidated statements of financial position 103,702 3,003 Bank overdrafts — (9 ) Cash and cash equivalents in the consolidated statements of cash flows 103,702 2,994 |
Share Capital, Share Premium _2
Share Capital, Share Premium And Other Capital Reserves (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Summary Of Share Capital | 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. Authorised Issued and fully paid December 31, 2020 December 31, 2019 December 31, 2020 December 31, 2019 Ordinary shares of USD 0.001 each 559,999,998 147,525,950 203,729,958 137,472,875 Preference shares of USD 0.001 each — 9,974,050 — 134,575 Class A shares of USD 0.001 each 2 — 2 — 560,000,000 157,500,000 203,729,960 137,607,450 |
Summary Of Share Capital And Share Premium | Quantity Ordinary shares Preference Share capital Share At January 1, 2019 98,780,600 91,675 4 15,484 Issue of shares from a conversion of loans 38,692,275 — 2 16,558 Issue of shares upon exercise of share-based awards — 42,900 — 15 Transaction costs — — — (4 ) At December 31, 2019 137,472,875 134,575 6 32,053 Issue of shares in the IPO 37,950,000 — 3 85,899 Issue of shares in the private placement 4,500,000 — — 10,186 Issue of shares from a conversion of loans 23,484,183 — 2 11,088 Issue of shares upon exercise of share-based awards — 188,325 — 33 Conversion of preference shares 322,900 (322,900 ) — — Issue of Class A shares 2 — — — Transaction costs — — — (5,820 ) At December 31, 2020 203,729,960 — 11 133,439 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Text Block [Abstract] | |
Disclosure Of Borrowings | Effective December 31, December 31, Currency Maturity Amount, incl. Amount, incl. Convertible loan n/a RUB n/a — 3,594 Bank loans 15.0 % RUB March 2021 6,639 246 Equipment financing 9.8 % RUB 2021-2030 2,809 267 Bank overdrafts n/a RUB n/a — 9 Total 9,448 4,116 Current 7,125 3,950 Non-current 2,323 166 |
Trade and Other Payables (Table
Trade and Other Payables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 32,437 18,725 Payables to third-party sellers on the marketplace platform 9,437 1,912 Payables under the reverse factoring program 223 — Payroll payables, including related taxes 372 299 Other payables 154 306 Total 42,623 21,242 Current 42,545 21,242 Non-current 78 — |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 665 351 Provision for reimbursements to third-party sellers 407 256 Employee bonuses, including payroll related taxes 309 86 Refund liability 231 124 Tax provisions 65 90 Total 1,677 907 |
Customer Advances and Deferre_2
Customer Advances and Deferred Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Disclosure of detailed information customer advances and deferred income [Abstract] | |
Summary of customer advances and deferred income | December 31, December 31, Customer advances 3,763 972 Unredeemed gift certificates 864 374 Upfront fees under ADS program 408 — Loyalty points program 148 15 Ozon Premium 48 41 Total 5,231 1,402 Current 4,825 1,402 Non-current 406 — |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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: Options SARs RSUs Weighted Quantity Weighted Quantity Weighted Quantity Weighted average As at December 31, 2018 8.6 1,558,275 240 833,650 258 4,905,000 324 Granted — — — — — 3,207,875 428 Forfeited — — — (180,750 ) 260 (1,795,000 ) 340 As at December 31, 2019 8.2 1,558,275 240 652,900 257 6,317,875 364 Granted — — — — — 5,288,725 1,713 Exercised — — — (8,050 ) 260 (187,850 ) 326 Forfeited — — — (121,036 ) 258 (1,008,163 ) 411 As at December 31, 2020 8.2 1,558,275 240 523,814 257 10,410,587 1,047 Exercisable as at December 31, 2020 6.8 1,558,275 240 506,494 257 3,140,056 355 |
Summary of stockbased compensation expense | The following table summarizes total stock-based compensation expense / (reversal) by function for the years ended December 31, 2020, 2019 and 2018. 2020 2019 2018 Fulfillment and delivery (note 6) 53 19 (18 ) Sales and marketing (note 7) 81 14 (42 ) Technology and content (note 8) 152 16 18 General and administrative (note 9) 358 141 124 644 190 82 |
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, 2019 and 2018 are the following: 2020 2019 2018 Expected annual volatility 48 % 45 % 42 % Expected term, years 4 4 4 Dividend yield None None None Risk-free interest rate 5.7 % 7.3 % 7.4 % |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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 2020 — 193 — 9 Sistema PJSFC 2019 — 309 — 18 Sistema PJSFC 2018 5 226 — 15 Associate: Litres 2020 6 11 144 ** 2 Litres 2019 5 6 1 3 Litres 2018 5 1 — 1 * 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. |
Summary of key management personnel | The remuneration of key management personnel for the year ended December 31, 2020, 2019 and 2018 amounted to: 2020 2019 2018 Short-term employee benefits (i) 53 33 31 Share-based compensation expense (ii) 224 93 188 277 126 219 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, 2020 | |
Text Block [Abstract] | |
Summary of carrying values of the groups financial assets and financial liabilities measured at amortized cost | December 31, December 31, Financial assets measured at amortized cost Cash and cash equivalents (note 18) 103,702 3,003 Accounts receivable (note 17) 3,405 2,743 Security deposits 332 213 Other financial assets 111 — Total financial assets 107,550 5,959 Financial liabilities measured at amortized cost Trade and other payables (note 21) 42,623 21,242 Lease liabilities (note 15) 15,490 9,609 Borrowings (note 20) 9,448 4,116 Accrued expenses (note 22) 1,677 907 Total financial liabilities 69,238 35,874 |
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 2020 2019 2020 2019 Assets 68,224 148 58 34 Liabilities (314 ) (32 ) (94 ) (27 ) Net position 67,910 116 (36 ) 7 |
Summary of groups exposure to foreign currency changes for all other currencies | Change in Effect on profit before tax Year ended December 31, 2020 USD +30%/-30% 20,373/(20,373) EUR +30%/-30% (11)/11 Year ended December 31, 2019 USD +30%/-30% 35/(35) EUR +30%/-30% 2/(2) |
Summary of allowance for expected credit losses of accounts receivable | The table below reflects the allowance for expected credit losses of accounts receivable by customer types: December 31, December 31, Cash collectors 20 66 Others 26 17 Total allowance for expected credit losses 46 83 |
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 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 Accrued expenses — 1,677 — — — 1,677 Total financial liabilities — 56,567 8,836 5,417 4,386 75,206 On demand Within 1 year 1 to 3 years 3 to 5 years > 5 years Total 2019 Trade and other payables — 21,242 — — — 21,242 Borrowings 3,840 110 166 — — 4,116 Lease liabilities — 2,737 5,042 3,183 1,613 12,575 Accrued expenses — 907 — — — 907 Total financial liabilities 3,840 24,996 5,208 3,183 1,613 38,840 |
Summary of reconciliation of liabilities arising from financing activities | January 1, Financing 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 January 1, Financing cash flows Leases (non-cash) Other December 31, Borrowings 409 3,603 — 104 4,116 Lease liabilities 5,333 (867 ) 5,143 — 9,609 5,742 2,736 5,143 104 13,725 |
Corporate Information - Summary
Corporate Information - Summary Of Subsidiaries Of The Company (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
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% |
Corporate Information - Additio
Corporate Information - Additional Information (Detail) - shares | 12 Months Ended | |
Dec. 31, 2020 | 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 | 32.68% | |
Baring vostok private equity funds [member] | ||
Disclosure of classes of share capital [line items] | ||
Proportion of ownership interest in associate | 32.62% | |
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 The Effect Of Adoption IFRS 16 (Detail) ₽ in Millions | Jan. 01, 2019RUB (₽) |
Assets | |
Right-of-use assets | ₽ 5,534 |
Property, plant and equipment | (85) |
Advances paid and other current non-financial assets | (185) |
Total assets | 5,264 |
Liabilities | |
Lease liabilities | 5,264 |
Trade and other payables | (158) |
Total liabilities | 5,106 |
Equity | |
Accumulated losses | 158 |
Total equity | ₽ 158 |
Significant Accounting Polici_5
Significant Accounting Policies - Summary of Reconciled to the Operating Lease Commitments (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Disclosure Of Lease Liabilities Reconciled To The Operating Lease Commitments [Line Items] | ||||
Operating lease commitments as at December 31, 2018 | ₽ 7,212 | |||
Weighted average incremental borrowing rate as at January 1, 2019 | 11.30% | |||
Discounted operating lease commitments as at January 1, 2019 | ₽ 5,264 | |||
Add: Commitments relating to leases previously classified as finance leases | 69 | |||
Lease liabilities as at January 1, 2019 | ₽ 15,490 | ₽ 9,609 | ₽ 5,333 | ₽ 5,333 |
Significant Accounting Polici_6
Significant Accounting Policies - Summary of Right of Use Assets (Detail) | 12 Months Ended |
Dec. 31, 2020 | |
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 equipment [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 equipment [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_7
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, 2020 | |
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 |
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 |
Significant Accounting Polici_8
Significant Accounting Policies - Additional Information (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Disclosure Of Summary Of Significant Accounting Policies [Line Items] | ||||
Right-of-use assets | ₽ 14,579 | ₽ 9,269 | ₽ 5,534 | ₽ 5,534 |
Additional lease liabilities | 5,264 | |||
Prepayments related to operating leases derecognized | 185 | |||
Accrued provision under operating leases-incentives in trade and other payables | ₽ 158 | |||
Applicable tax rate | 20.00% | |||
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% |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Sales of goods | ₽ 81,414 | ₽ 53,487 | ₽ 33,920 |
Service revenue: | |||
Marketplace commission | 16,503 | 2,132 | 45 |
Delivery services | 1,761 | 1,758 | 1,595 |
Advertising revenue | 3,965 | 1,421 | 282 |
Travel ticketing commission | 445 | 1,187 | 1,274 |
Other revenue | 262 | 119 | 104 |
Total service revenue | 22,936 | 6,617 | 3,300 |
Total revenue | 104,350 | 60,104 | 37,220 |
At a point in time [member] | |||
Disclosure of disaggregation of revenue from contracts with customers [line items] | |||
Sales of goods | 81,414 | 53,487 | 33,920 |
Service revenue: | |||
Marketplace commission | 16,503 | 2,132 | 45 |
Delivery services | 1,481 | 1,574 | 1,595 |
Advertising revenue | 0 | 0 | 0 |
Travel ticketing commission | 425 | 950 | 991 |
Other revenue | 262 | 119 | 104 |
Total service revenue | 18,671 | 4,775 | 2,735 |
Total revenue | 100,085 | 58,262 | 36,655 |
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 | 280 | 184 | 0 |
Advertising revenue | 3,965 | 1,421 | 282 |
Travel ticketing commission | 20 | 237 | 283 |
Other revenue | 0 | 0 | 0 |
Total service revenue | 4,265 | 1,842 | 565 |
Total revenue | ₽ 4,265 | ₽ 1,842 | ₽ 565 |
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, 2020 | Dec. 31, 2019 |
Disclosure of Groups Accounts Receivable And Contract Liabilities From Contracts With Customers [Line Items] | ||
Accounts receivable (included in the total accounts receivable in note 17) | ₽ 1,550 | ₽ 787 |
Contract liabilities (note 23) | ₽ (5,231) | ₽ (1,402) |
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, 2020 | Dec. 31, 2019 |
Disclosure Of Groups Right Of Return Assets And Refund Liabilities From Contracts With Customers [Line Items] | ||
Right of return assets (note 16) | ₽ 231 | ₽ 125 |
Refund liabilities arising from right of return (note 22) | ₽ (231) | ₽ (124) |
Segment Information - Additiona
Segment Information - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Text Block [Abstract] | |||
Concentrate percentage of revenue | 99.00% | 98.00% | 96.00% |
Fulfillment And Delivery Expe_3
Fulfillment And Delivery Expenses - Summary of Fulfillment and Delivery Expenses (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure Of Detailed Information About Fulfillment And Delivery Expense [Abstract] | |||
Employee-related cost | ₽ 8,417 | ₽ 6,029 | ₽ 3,632 |
Outsourcing services | 5,103 | 1,889 | 535 |
Delivery fees | 3,909 | 1,783 | 844 |
Depreciation and amortization | 3,690 | 1,643 | 337 |
Transportation services and vehicle maintenance | 3,367 | 2,097 | 897 |
Fees for cash collection | 2,795 | 1,447 | 789 |
Premises maintenance and packaging costs | 1,589 | 1,032 | 530 |
Share-based compensation expense (reversal) | 53 | 19 | (18) |
Premises rental | 0 | 0 | 416 |
Other fulfillment and delivery expenses | 1,753 | 869 | 270 |
Fulfillment and delivery expense | ₽ 30,676 | ₽ 16,808 | ₽ 8,232 |
Sales And Marketing Expenses -
Sales And Marketing Expenses - Summary of Detailed Information about Sales and Marketing Expense (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about Sales and marketing expense [Abstract] | |||
Online marketing | ₽ 5,447 | ₽ 4,553 | ₽ 2,150 |
Employee-related cost | 2,265 | 1,178 | 703 |
Offline media | 1,502 | 1,146 | 344 |
Share-based compensation expense (reversal) | 81 | 14 | (42) |
Other sales and marketing expenses | 720 | 262 | 180 |
Total | ₽ 10,015 | ₽ 7,153 | ₽ 3,335 |
Technology And Content Expens_3
Technology And Content Expenses - Summary of Technology and Content Expense (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about Technology and content expense [Abstract] | |||
Employee-related cost | ₽ 3,490 | ₽ 2,956 | ₽ 1,826 |
IT and telecommunication services | 615 | 446 | 222 |
Share-based compensation expense | 152 | 16 | 18 |
Other technology and content expenses | 137 | 102 | 57 |
Total | ₽ 4,394 | ₽ 3,520 | ₽ 2,123 |
General And Administrative Ex_3
General And Administrative Expenses - Summary of General and Administrative Expense (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about General And Administrative Expense [Abstract] | |||
Employee-related cost | ₽ 1,600 | ₽ 924 | ₽ 680 |
Depreciation and amortization | 1,273 | 947 | 150 |
Share-based compensation expense | 358 | 141 | 124 |
Premises rental | 0 | 0 | 428 |
Other general and administrative expenses | 498 | 378 | 360 |
Total | ₽ 3,729 | ₽ 2,390 | ₽ 1,742 |
Investment In Associate - Summa
Investment In Associate - Summary of Significant Investments in Associates (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of associates [line items] | |||
Current | ₽ 124,808 | ₽ 18,867 | |
Non-current | 29,800 | 19,568 | |
Current liabilities | (60,211) | (29,506) | |
Non-current liabilities | (15,140) | (8,112) | |
Group's carrying amount of the investment | 1,111 | 1,139 | |
Revenue | 104,350 | 60,104 | ₽ 37,220 |
Profit for the year | (22,264) | (19,363) | (5,661) |
Other comprehensive income | 0 | 0 | 0 |
Total comprehensive income | (22,264) | (19,363) | (5,661) |
The Group's share of total comprehensive income | 112 | 54 | 82 |
Litres Holdings Limited [Member] | |||
Disclosure of associates [line items] | |||
Current | 805 | 713 | |
Non-current | 360 | 267 | |
Current liabilities | (951) | (682) | |
Non-current liabilities | (2) | (19) | |
Net assets of the associate | 212 | 279 | |
Group's share of net assets – 42.27% (2019: 42.27%) | 90 | 118 | |
Goodwill | 964 | 964 | |
Fair value adjustments (including the effect of the subsequent accounting) | 57 | 57 | |
Group's carrying amount of the investment | 1,111 | 1,139 | 1,156 |
Revenue | 5,077 | 3,823 | 2,600 |
Profit for the year | 278 | 168 | 236 |
Other comprehensive income | 0 | 0 | 0 |
Total comprehensive income | 278 | 168 | 236 |
The Group's share of profit before fair value adjustments | 118 | 71 | 99 |
Amortization of assets based on their fair values at acquisition | (6) | (17) | (17) |
The Group's share of total comprehensive income | ₽ 112 | ₽ 54 | ₽ 82 |
Investment In Associate - Sum_2
Investment In Associate - Summary of Significant Investments in Associates (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of movement of the investment in associates [Line Items] | |||
Carrying amount of the investment at the beginning of the year | ₽ 1,139 | ||
Share of total comprehensive income | 112 | ₽ 54 | ₽ 82 |
Carrying amount of the investment at the end of the year | 1,111 | 1,139 | |
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 | 1,139 | 1,156 | |
Share of total comprehensive income | 112 | 54 | 82 |
Dividends received / receivable | (140) | (71) | |
Carrying amount of the investment at the end of the year | ₽ 1,111 | ₽ 1,139 | ₽ 1,156 |
Investment In Associate - Addit
Investment In Associate - Additional Information (Detail) - RUB (₽) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
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) ₽ in Millions | 12 Months Ended |
Dec. 31, 2020RUB (₽) | |
Text Block [Abstract] | |
Other non-operating expenses | ₽ 1,000 |
Income Taxes - Summary of Major
Income Taxes - Summary of Major Components of Income Tax Expense / Benefit (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Major components of tax expense (income) [abstract] | |||
Current income tax expense | ₽ (111) | ₽ (9) | ₽ (1) |
Deferred tax (expense) / benefit | (119) | 188 | (62) |
Tax provision | 0 | 37 | (10) |
Income tax (expense) / benefit for the year | ₽ (230) | ₽ 216 | ₽ (73) |
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, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |||
Loss before income tax | ₽ (22,034) | ₽ (19,579) | ₽ (5,588) |
Income tax benefit calculated at Russia's statutory tax rate (20%) | 4,407 | 3,915 | 1,118 |
Effect of unrecognized deferred tax assets | (3,669) | (3,463) | (1,100) |
Effect of non-deductible expenses in determining taxable profit | (559) | (234) | (94) |
Effect of accrued tax provision | 0 | 37 | (10) |
Effect of foreign exchange loss that is exempt from taxation | (409) | (39) | 13 |
Income tax (expense) / benefit for the year | ₽ (230) | ₽ 216 | ₽ (73) |
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, 2020 | |
Reconciliation of accounting profit multiplied by applicable tax rates [abstract] | |
Applicable Tax Rate | 20.00% |
Income Taxes - Summary of Defer
Income Taxes - Summary of Deferred Tax Assets and Liabilities (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
less: unrecognized deferred tax assets | ₽ 2,430 | ||
Deferred tax (expense) / benefit | (119) | ₽ 188 | ₽ (62) |
Consolidated statement of financial position | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 9,604 | 6,055 | |
less: unrecognized deferred tax assets | (9,226) | (5,557) | |
Total deferred tax assets, net of unrecognized deferred tax assets | 378 | 498 | |
Deferred tax liabilities | (400) | (401) | |
Net deferred tax asset / (liability) | (22) | 97 | |
Net deferred tax asset | 44 | 253 | |
Net deferred tax liability | (66) | (156) | |
Consolidated statement of financial position | Tax losses carried forward Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 8,739 | 5,557 | |
Consolidated statement of financial position | Inventories Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 298 | 232 | |
Consolidated statement of financial position | Leases Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 248 | 114 | |
Consolidated statement of financial position | Employee benefits Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 195 | 87 | |
Consolidated statement of financial position | Accounts receivable and advances paid deferred tax assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 80 | 57 | |
Consolidated statement of financial position | Loyalty points program Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 21 | 3 | |
Consolidated statement of financial position | Prepaid and accrued expenses Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 8 | 5 | |
Consolidated statement of financial position | Other items Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 15 | ||
Consolidated statement of financial position | Property Plant And Equipment Deferred Tax Liabilities | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | (311) | (352) | |
Consolidated statement of financial position | Accrued revenue Deferred Tax Liabilities | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | (89) | (49) | |
Consolidated statement of profit or loss and OCI | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 3,549 | 3,754 | |
less: unrecognized deferred tax assets | (3,669) | (3,463) | |
Total deferred tax assets, net of unrecognized deferred tax assets | (120) | 291 | |
Deferred tax liabilities | 1 | (103) | |
Deferred tax (expense) / benefit | (119) | 188 | |
Consolidated statement of profit or loss and OCI | Tax losses carried forward Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 3,182 | 3,463 | |
Consolidated statement of profit or loss and OCI | Inventories Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 66 | 190 | |
Consolidated statement of profit or loss and OCI | Leases Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 134 | 114 | |
Consolidated statement of profit or loss and OCI | Employee benefits Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 108 | (1) | |
Consolidated statement of profit or loss and OCI | Accounts receivable and advances paid deferred tax assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 23 | 33 | |
Consolidated statement of profit or loss and OCI | Loyalty points program Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 18 | (12) | |
Consolidated statement of profit or loss and OCI | Prepaid and accrued expenses Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 3 | (33) | |
Consolidated statement of profit or loss and OCI | Other items Deferred Tax Assets | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax assets | 15 | ||
Consolidated statement of profit or loss and OCI | Property Plant And Equipment Deferred Tax Liabilities | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | 41 | (110) | |
Consolidated statement of profit or loss and OCI | Accrued revenue Deferred Tax Liabilities | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | ₽ (40) | 6 | |
Consolidated statement of profit or loss and OCI | Other items Deferred Tax Liabilities | |||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |||
Deferred tax liabilities | ₽ 1 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Text Block [Abstract] | ||
Unused tax losses for which no deferred tax asset recognised | ₽ 43,700 | ₽ 27,785 |
Deductible temporary differences for which no deferred tax asset is recognised | ₽ 2,430 |
Earning Per Share (EPS) - Summa
Earning Per Share (EPS) - Summary of Basic and Diluted EPS Calculations (Detail) - RUB (₽) ₽ / shares in Units, ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earning Per Share [Abstract] | |||
Loss attributable to the parent entity | ₽ (22,264) | ₽ (19,363) | ₽ (5,661) |
Effects of the settlement of preference shares classified as equity | 33 | 15 | 29 |
Loss attributable to ordinary equity holders of the parent entity | ₽ (22,231) | ₽ (19,348) | ₽ (5,632) |
Weighted average number of ordinary shares | 164,605,952 | 128,597,975 | 92,999,825 |
Basic and diluted loss per share (RUB) | ₽ (135.1) | ₽ (150.4) | ₽ (60.6) |
Property, Plant and Equipment -
Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | ₽ 9,209 | ₽ 5,533 |
Additions | 6,618 | 3,833 |
Reclassification to right-of-use assets | (118) | |
Disposals | (286) | (39) |
Ending balance | 15,541 | 9,209 |
Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (2,033) | (1,217) |
Reclassification to right-of-use assets | 33 | |
Disposals | 210 | 30 |
Charge for the year | (1,849) | (879) |
Ending balance | (3,672) | (2,033) |
Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 7,176 | |
Ending balance | 11,869 | 7,176 |
Land [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 80 | 80 |
Ending balance | 80 | 80 |
Land [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 80 | |
Ending balance | 80 | 80 |
Buildings [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,823 | 1,279 |
Transfer | 544 | |
Ending balance | 1,823 | 1,823 |
Buildings [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (173) | (135) |
Charge for the year | (40) | (38) |
Ending balance | (213) | (173) |
Buildings [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,650 | |
Ending balance | 1,610 | 1,650 |
Engineering facilities [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 289 | 221 |
Transfer | 14 | 68 |
Ending balance | 303 | 289 |
Engineering facilities [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (128) | (109) |
Charge for the year | (24) | (19) |
Ending balance | (152) | (128) |
Engineering facilities [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 161 | |
Ending balance | 151 | 161 |
Warehouse equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 3,793 | 1,733 |
Transfer | 4,240 | 2,070 |
Disposals | (93) | (10) |
Ending balance | 7,940 | 3,793 |
Warehouse equipment [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (766) | (419) |
Disposals | 80 | 5 |
Charge for the year | (755) | (352) |
Ending balance | (1,441) | (766) |
Warehouse equipment [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 3,027 | |
Ending balance | 6,499 | 3,027 |
Transportation vehicles [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 54 | 172 |
Reclassification to right-of-use assets | (118) | |
Ending balance | 54 | 54 |
Transportation vehicles [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (53) | (79) |
Reclassification to right-of-use assets | 33 | |
Charge for the year | (1) | (7) |
Ending balance | (54) | (53) |
Transportation vehicles [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1 | |
Ending balance | 1 | |
Computer equipment [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,020 | 588 |
Transfer | 792 | 445 |
Disposals | (80) | (13) |
Ending balance | 1,732 | 1,020 |
Computer equipment [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (380) | (140) |
Disposals | 74 | 10 |
Charge for the year | (495) | (250) |
Ending balance | (801) | (380) |
Computer equipment [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 640 | |
Ending balance | 931 | 640 |
Other computer hardware and office facilities [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,908 | 800 |
Transfer | 1,452 | 1,124 |
Disposals | (113) | (16) |
Ending balance | 3,247 | 1,908 |
Other computer hardware and office facilities [member] | Accumulated depreciation [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | (533) | (335) |
Disposals | 56 | 15 |
Charge for the year | (534) | (213) |
Ending balance | (1,011) | (533) |
Other computer hardware and office facilities [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 1,375 | |
Ending balance | 2,236 | 1,375 |
Construction in progress [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 242 | 660 |
Additions | 6,618 | 3,833 |
Transfer | (6,498) | (4,251) |
Ending balance | 362 | 242 |
Construction in progress [member] | Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Beginning balance | 242 | |
Ending balance | ₽ 362 | ₽ 242 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Additional Information (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Carrying amount [member] | ||
Disclosure of detailed information about property, plant and equipment [line items] | ||
Property, plant and equipment, pledged as security | ₽ 297 | ₽ 1,238 |
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, 2020 | Dec. 31, 2019 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance at beginning of period | ₽ 9,269 | ₽ 5,534 |
Beginning balance | 9,609 | 5,333 |
Additions | 8,443 | 5,371 |
Remeasurement / modification | 143 | (28) |
Depreciation expense | (3,013) | (1,608) |
Payments | (3,540) | (1,700) |
Additions | 8,275 | 5,171 |
Remeasurement / modification | 143 | (28) |
Interest expense | 1,299 | 833 |
Disposals | (275) | |
Adjustment of Lease Payments | (21) | |
Disposals | (263) | |
Balance at End of Period | 14,579 | 9,269 |
Ending Balance | 15,490 | 9,609 |
Fulfillment and sorting centers [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance at beginning of period | 3,689 | 1,295 |
Additions | 5,931 | 3,064 |
Remeasurement / modification | 145 | (65) |
Reclassification | 31 | |
Depreciation expense | (1,320) | (636) |
Change in use of leased premises | 518 | |
Disposals | (25) | |
Balance at End of Period | 8,938 | 3,689 |
Office premises [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance at beginning of period | 3,760 | 3,898 |
Additions | 435 | 495 |
Remeasurement / modification | 27 | |
Depreciation expense | (647) | (660) |
Change in use of leased premises | (518) | |
Disposals | (6) | |
Balance at End of Period | 3,024 | 3,760 |
Pickup points [Member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance at beginning of period | 1,084 | 256 |
Additions | 1,503 | 1,016 |
Remeasurement / modification | (2) | 10 |
Reclassification | (31) | |
Depreciation expense | (682) | (167) |
Disposals | (232) | |
Balance at End of Period | 1,671 | 1,084 |
Vehicles [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Balance at beginning of period | 736 | 85 |
Additions | 574 | 796 |
Depreciation expense | (364) | (145) |
Balance at End of Period | ₽ 946 | ₽ 736 |
Leases - Additional Information
Leases - Additional Information (Details) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of quantitative information about right-of-use assets [line items] | ||
Expense relating to variable lease payments | ₽ 169 | ₽ 93 |
Not later than one year [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Undiscounted operating lease payments to be received | 848 | |
Later than one year and not later than three years [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Undiscounted operating lease payments to be received | 6,175 | |
Later than three years and not later than five years [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Undiscounted operating lease payments to be received | 6,730 | |
Later than five years [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Undiscounted operating lease payments to be received | ₽ 5,368 | |
Bottom of range [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Lessee, Term of Contract | 3 years | |
Top of range [member] | ||
Disclosure of quantitative information about right-of-use assets [line items] | ||
Lessee, Term of Contract | 10 years |
Inventories - Summary of Invent
Inventories - Summary of Inventories (Details) - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Inventories [Line Items] | ||
Merchandise held for resale | ₽ 15,977 | ₽ 11,439 |
Right of return assets | 231 | 125 |
Other inventories | 216 | 119 |
Inventory valuation allowance | (1,082) | (909) |
Inventories | ₽ 15,342 | ₽ 10,774 |
Inventories - Additional Inform
Inventories - Additional Information (Details) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Inventories [Line Items] | ||
Cost of inventories recognised as expense during period | ₽ 75,929 | ₽ 49,524 |
Inventory write-down | 4,871 | 2,488 |
Inventories, at net realisable value | 173 | 703 |
Gain Loss on Inventories | ₽ 309 | ₽ 514 |
Accounts Receivables - Allowanc
Accounts Receivables - Allowance for Expected Credit Losses (Details) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts Receivables [Line Items] | ||
Balance at the beginning of the year | ₽ (83) | ₽ (94) |
Allowance for expected credit losses | (20) | (17) |
Amounts written off during the year as uncollectable | 57 | 28 |
Balance at the end of the year | ₽ (46) | ₽ (83) |
Accounts Receivables - Summary
Accounts Receivables - Summary of Accounts Receivables (Details) - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts Receivables [Line Items] | |||
Allowance account for credit losses of financial assets | ₽ (46) | ₽ (83) | ₽ (94) |
Current trade receivables | 3,405 | 2,743 | |
Trade receivables [member] | |||
Accounts Receivables [Line Items] | |||
Current trade receivables | ₽ 3,451 | ₽ 2,826 |
Cash and Cash equivalents - Sum
Cash and Cash equivalents - Summary of Cash and Cash Equivalent (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Cash And Cash Equivalents [Line Items] | ||
Short-term deposits | ₽ 59,331 | ₽ 1,955 |
Current bank accounts | 43,749 | 701 |
Cash in transit | 606 | 320 |
Petty cash | 16 | 27 |
Cash and cash equivalents in the consolidated statements of financial position | 103,702 | 3,003 |
Bank overdrafts | 0 | (9) |
Cash and cash equivalents in the consolidated statements of cash flows | ₽ 103,702 | ₽ 2,994 |
Share Capital, Share Premium _3
Share Capital, Share Premium And Other Capital Reserves - Summary of Share Capital (Detail) - shares | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of share capital [Line Items] | ||
Authorised | 560,000,000 | 157,500,000 |
Issued and fully paid | 203,729,960 | 137,607,450 |
Ordinary shares [member] | ||
Disclosure of share capital [Line Items] | ||
Authorised | 559,999,998 | 147,525,950 |
Issued and fully paid | 203,729,958 | 137,472,875 |
Preference shares [member] | ||
Disclosure of share capital [Line Items] | ||
Authorised | 0 | 9,974,050 |
Issued and fully paid | 0 | 134,575 |
Class A Shares [Member] | ||
Disclosure of share capital [Line Items] | ||
Authorised | 2 | 0 |
Issued and fully paid | 2 | 0 |
Share Capital, Share Premium _4
Share Capital, Share Premium And Other Capital Reserves - Summary of Share Capital and Share Premium (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of movement of Share capital and share premium [Line Items] | |||
Beginning balance | ₽ 817 | ₽ 3,236 | ₽ 3,346 |
Ending Balance | ₽ 79,257 | ₽ 817 | ₽ 3,236 |
Ordinary shares [member] | |||
Disclosure of movement of Share capital and share premium [Line Items] | |||
Beginning balance | 137,472,875 | 98,780,600 | |
Issue of shares from a conversion of loans | 23,484,183 | 38,692,275 | |
Issue of shares in the IPO | 37,950,000 | ||
Issue of shares in the private placement | 4,500,000 | ||
Conversion of preference shares | 322,900 | ||
Issue of Class A shares | 2 | ||
Ending balance | 203,729,960 | 137,472,875 | 98,780,600 |
Preference shares [member] | |||
Disclosure of movement of Share capital and share premium [Line Items] | |||
Beginning balance | 134,575 | 91,675 | |
Issue of shares upon exercise of share-based awards | 188,325 | 42,900 | |
Conversion of preference shares | (322,900) | ||
Ending balance | 134,575 | 91,675 | |
Share capital [member] | |||
Disclosure of movement of Share capital and share premium [Line Items] | |||
Beginning balance | ₽ 6 | ₽ 4 | ₽ 3 |
Issue of shares in the IPO | 3 | ||
Issue of shares from a conversion of loans | 2 | 2 | |
Ending Balance | 11 | 6 | 4 |
Share premium [member] | |||
Disclosure of movement of Share capital and share premium [Line Items] | |||
Beginning balance | 32,053 | 15,484 | 9,999 |
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 | 16,558 | |
Issue of shares upon exercise of share-based awards | 33 | 15 | 110 |
Transaction costs | (5,820) | (4) | |
Ending Balance | ₽ 133,439 | ₽ 32,053 | ₽ 15,484 |
Share Capital, Share Premium _5
Share Capital, Share Premium And Other Capital Reserves - Additional Information (Detail) ₽ in Millions | Nov. 27, 2020RUB (₽)shares | Oct. 31, 2020$ / sharesshares | Nov. 30, 2020shares | Apr. 30, 2020RUB (₽) | 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 | |||||
Number of Shares Issued for Convertible Loan | shares | 15,086,709 | 8,397,474 | ||||
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% | |||||
Bottom of range [member] | Appointment of One directors [Member] | ||||||
Statements [Line Items] | ||||||
Proportion of voting rights held by non-controlling interests | 7.50% | |||||
Top of range [member] | Appointment of One directors [Member] | ||||||
Statements [Line Items] | ||||||
Proportion of voting rights held by non-controlling interests | 15.00% | |||||
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 |
Borrowings - Disclosure of Borr
Borrowings - Disclosure of Borrowings (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ₽ 9,448 | ₽ 4,116 |
Current | 7,125 | 3,950 |
Non-current | ₽ 2,323 | 166 |
Convertible loan [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | 3,594 | |
Effective interest rate | 0.00% | |
Currency | RUB | |
Maturity | 0 | |
Bank loans [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ₽ 6,639 | 246 |
Effective interest rate | 15.00% | |
Currency | RUB | |
Maturity | March 2021 | |
Equipment financing [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ₽ 2,809 | 267 |
Effective interest rate | 9.80% | |
Currency | RUB | |
Maturity | 2021-2030 | |
Bank overdrafts [Member] | ||
Disclosure of detailed information about borrowings [line items] | ||
Borrowings | ₽ 9 | |
Effective interest rate | 0.00% | |
Currency | RUB | |
Maturity | 0 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - RUB (₽) ₽ in Millions | Mar. 31, 2020 | Nov. 30, 2020 | Apr. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Borrowings [abstract] | |||||
Proceeds from convertible loan agreements | ₽ 6,196 | ₽ 3,594 | |||
Number of shares issued for convertible loan | 15,086,709 | 8,397,474 | |||
Proceeds from borrowings | ₽ 6,000 | ₽ 8,711 | ₽ 413 |
Trade and Other Payables - Summ
Trade and Other Payables - Summary of Trade and Other Payables (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of Detailed Information about Trade And Other Payables [Line Items] | ||
Trade payables | ₽ 32,437 | ₽ 18,725 |
Payables to third-party sellers on the marketplace platform | 9,437 | 1,912 |
Payables under the reverse factoring program | 223 | 0 |
Payroll payables, including related taxes | 372 | 299 |
Other payables | 154 | 306 |
Total | 42,623 | 21,242 |
Current | 42,545 | 21,242 |
Non-current | ₽ 78 | ₽ 0 |
Accrued Expenses - Summary of D
Accrued Expenses - Summary of Detailed Information About of Accrued Expenses (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information about of accrued expenses [Abstract] | ||
Holiday provision, including payroll related taxes | ₽ 665 | ₽ 351 |
Provision for reimbursements to third-party sellers | 407 | 256 |
Employee bonuses, including payroll related taxes | 309 | 86 |
Refund liability | 231 | 124 |
Tax provisions | 65 | 90 |
Total | ₽ 1,677 | ₽ 907 |
Customer Advances and Deferre_3
Customer Advances and Deferred Income - Summary of Customer Advances and Deferred Income (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Disclosure of detailed information customer advances and deferred income [Abstract] | ||
Customer advances | ₽ 3,763 | ₽ 972 |
Unredeemed gift certificates | 864 | 374 |
Upfront fees under ADS program | 408 | |
Loyalty points program | 148 | 15 |
Ozon Premium | 48 | 41 |
Total | 5,231 | 1,402 |
Current | 4,825 | ₽ 1,402 |
Non-current | ₽ 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, 2020shares₽ / shares | Dec. 31, 2019shares₽ / shares | Dec. 31, 2018shares₽ / shares | |
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items] | |||
Weighted average remaining contractual life (in years) | 8 years 2 months 12 days | 8 years 2 months 12 days | 8 years 7 months 6 days |
Weighted average remaining contractual life (in years),Exercisable | 6 years 9 months 18 days | ||
Options [Member] | |||
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items] | |||
Quantity | shares | 1,558,275 | 1,558,275 | 1,558,275 |
Weighted average exercise price per share | ₽ 240 | ₽ 240 | ₽ 240 |
Weighted average exercise price per share,Exercisable | ₽ 240 | ||
Share appreciation rights [Member] | |||
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items] | |||
Quantity | shares | 523,814 | 652,900 | 833,650 |
Quantity,Exercisable | shares | 506,494 | ||
Weighted average exercise price per share | ₽ 257 | ₽ 257 | ₽ 258 |
Weighted average exercise price per share,Exercisable | ₽ 257 | ||
Quantity, Forfeited | shares | (121,036) | (180,750) | |
Quantity, Exercised | shares | (8,050) | ||
Weighted average exercise price per share,Forfeited | ₽ 258 | ₽ 260 | |
Weighted average exercise price per share,Exercised | ₽ 260 | ||
Restricted share units [Member] | |||
Disclosure Of Number And Weighted Average Exercise Prices Of Share Options [Line Items] | |||
Quantity | shares | 10,410,587 | 6,317,875 | 4,905,000 |
Quantity,Exercisable | shares | 3,140,056 | ||
Weighted average exercise price per share | ₽ 1,047 | ₽ 364 | ₽ 324 |
Weighted average exercise price per share,Exercisable | ₽ 355 | ||
Quantity, Forfeited | shares | (1,008,163) | (1,795,000) | |
Quantity, Exercised | shares | (187,850) | ||
Weighted average exercise price per share,Forfeited | ₽ 411 | ₽ 340 | |
Weighted average exercise price per share,Exercised | ₽ 326 | ||
Quantity,Granted | shares | 5,288,725 | 3,207,875 | |
Weighted average grant date fair value per share,Granted | ₽ 1,713 | ₽ 428 |
Share-Based Compensation - Su_2
Share-Based Compensation - Summary of Stock Based Compensation Expense (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of stockbased compensation expense [Line Items] | |||
Total | ₽ 644 | ₽ 190 | ₽ 82 |
Fulfillment and delivery [Member] | |||
Disclosure of stockbased compensation expense [Line Items] | |||
Stock based compensation expense | 53 | 19 | (18) |
Sales and marketing [Member] | |||
Disclosure of stockbased compensation expense [Line Items] | |||
Stock based compensation expense | 81 | 14 | (42) |
Technology and content [Member] | |||
Disclosure of stockbased compensation expense [Line Items] | |||
Stock based compensation expense | 152 | 16 | 18 |
General and administrative [Member] | |||
Disclosure of stockbased compensation expense [Line Items] | |||
Stock based compensation expense | ₽ 358 | ₽ 141 | ₽ 124 |
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 | Dec. 31, 2018RUB (₽)yr | |
Description Of Inputs To BlackScholes model Share Options [Line Items] | |||
Expected annual volatility | 48.00% | 45.00% | 42.00% |
Expected term, years | yr | 4 | 4 | 4 |
Dividend yield | ₽ | ₽ 0 | ₽ 0 | ₽ 0 |
Risk-free interest rate | 5.70% | 7.30% | 7.40% |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Jan. 27, 2021 | |
Two thousand twenty [Member] | Non adjusting event [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] | ||
Number of share subject to vesting and other terms | 1,058,275 | |
Proceeds from exercise of options | $ 4 | |
Interest rate | 8.00% | |
Purchase price paid | $ 1.5 | |
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 | $ 1.95304 |
Related parties - Summary of Tr
Related parties - Summary of Transactions Between Related Parties (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Sistema PJSFC [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Sales to related parties | ₽ 5 | ||
Purchases from related parties | ₽ 193 | ₽ 309 | 226 |
Amounts owed to related parties | 9 | 18 | 15 |
Litres [Member] | |||
Disclosure of transactions between related parties [line items] | |||
Sales to related parties | 6 | 5 | 5 |
Purchases from related parties | 11 | 6 | 1 |
Amounts owed by related parties | 144 | 1 | |
Amounts owed to related parties | ₽ 2 | ₽ 3 | ₽ 1 |
Related parties - Summary of Ke
Related parties - Summary of Key Management Personnel (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disclosure of key management personnel [Line Items] | |||
Short-term employee benefits | ₽ 53 | ₽ 33 | ₽ 31 |
Share-based compensation expense | 224 | 93 | 188 |
Total | ₽ 277 | ₽ 126 | ₽ 219 |
Related Parties - Additional In
Related Parties - Additional Information (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Related Parties [Line Items] | |||
Provision for expected credit losses | ₽ 0 | ₽ 0 | ₽ 0 |
Sistema PJSFC [Member] | |||
Related Parties [Line Items] | |||
Cash balance of current and deposit accounts | 86 | 26 | |
Interest income | ₽ 2 | ₽ 37 |
Financial Instruments, Risk M_3
Financial Instruments, Risk Management and Capital Management - Summary of Carrying Values of the Groups Financial Assets and Financial Liabilities Measured at Amortized Cost (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Carrying Values Of The Groups Financial Assets And Financial Liabilities Measured At Amortized Cost [Line Items] | |||||
Cash and cash equivalents (note 18) | ₽ 103,702 | ₽ 3,003 | ₽ 2,684 | ₽ 3,803 | |
Accounts receivable (note 17) | 3,405 | 2,743 | |||
Trade and other payables (note 21) | 42,623 | 21,242 | |||
Lease liabilities (note 15) | 15,490 | 9,609 | ₽ 5,333 | ₽ 5,333 | |
Borrowings (note 20) | 10,796 | 4,116 | |||
Accrued expenses (note 22) | 1,677 | 907 | |||
Financial liabilities measured at amortized cost [Member] | |||||
Disclosure Of Carrying Values Of The Groups Financial Assets And Financial Liabilities Measured At Amortized Cost [Line Items] | |||||
Trade and other payables (note 21) | 42,623 | 21,242 | |||
Lease liabilities (note 15) | 15,490 | 9,609 | |||
Borrowings (note 20) | 9,448 | 4,116 | |||
Accrued expenses (note 22) | 1,677 | 907 | |||
Total financial liabilities | 69,238 | 35,874 | |||
Financial assets measured at amortized cost [Member] | |||||
Disclosure Of Carrying Values Of The Groups Financial Assets And Financial Liabilities Measured At Amortized Cost [Line Items] | |||||
Cash and cash equivalents (note 18) | 103,702 | 3,003 | |||
Accounts receivable (note 17) | 3,405 | 2,743 | |||
Security deposits | 332 | 213 | |||
Other financial assets | 111 | 0 | |||
Total financial assets | ₽ 107,550 | ₽ 5,959 |
Financial Instruments, Risk M_4
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, 2020 | Dec. 31, 2019 |
Disclosure Of Carrying Amounts Of The Groups Foreign Currency Denominated Monetary Assets And Monetary Liabilities [Line Items] | ||
Assets | ₽ 154,608 | ₽ 38,435 |
Liabilities | (75,351) | (37,618) |
USD [Member] | ||
Disclosure Of Carrying Amounts Of The Groups Foreign Currency Denominated Monetary Assets And Monetary Liabilities [Line Items] | ||
Assets | 68,224 | 148 |
Liabilities | (314) | (32) |
Net position | 67,910 | 116 |
EUR [Member] | ||
Disclosure Of Carrying Amounts Of The Groups Foreign Currency Denominated Monetary Assets And Monetary Liabilities [Line Items] | ||
Assets | 58 | 34 |
Liabilities | (94) | (27) |
Net position | ₽ (36) | ₽ 7 |
Financial Instruments, Risk M_5
Financial Instruments, Risk Management and Capital Management - Summary of Groups Exposure to Foreign Currency Changes for all Other Currencies (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
USD [Member] | ||
Disclosure Of Groups Exposure To Foreign Currency Changes For All Other Currencies [Line Items] | ||
Percent Of Increase In Foreign Exchanger Rates | 30.00% | 30.00% |
Percent Of Decrease In Foreign Exchange Rates | 30.00% | 30.00% |
Effect On Profit Before Tax Due To Increase In Foreign Exchange Rates | ₽ 20,373 | ₽ 35 |
Effect On Profit Before Tax Due To Decrease In Foreign Exchange Rates | ₽ (20,373) | ₽ (35) |
EUR [Member] | ||
Disclosure Of Groups Exposure To Foreign Currency Changes For All Other Currencies [Line Items] | ||
Percent Of Increase In Foreign Exchanger Rates | 30.00% | 30.00% |
Percent Of Decrease In Foreign Exchange Rates | 30.00% | 30.00% |
Effect On Profit Before Tax Due To Increase In Foreign Exchange Rates | ₽ (11) | ₽ 2 |
Effect On Profit Before Tax Due To Decrease In Foreign Exchange Rates | ₽ 11 | ₽ (2) |
Financial Instruments, Risk M_6
Financial Instruments, Risk Management and Capital Management - Summary of Allowance for Expected Credit Losses of Accounts Receivable (Detail) - RUB (₽) ₽ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Disclosure Of Allowance For Expected Credit Losses Of Accounts Receivable [Line Items] | |||
Cash collectors | ₽ 20 | ₽ 66 | |
Others | 26 | 17 | |
Total allowance for expected credit losses | ₽ 46 | ₽ 83 | ₽ 94 |
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, 2020 | Dec. 31, 2019 |
Disclosure Of Maturity Profile Of The Groups Financial Liabilities Based On Contractual Undiscounted Payments [Line Items] | ||
Trade and other payables | ₽ 42,623 | ₽ 21,242 |
Borrowings | 10,796 | 4,116 |
Lease liabilities | 20,110 | 12,575 |
Accrued expenses | 1,677 | 907 |
Total financial liabilities | 75,206 | 38,840 |
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 | 3,840 |
Lease liabilities | 0 | 0 |
Accrued expenses | 0 | 0 |
Total financial liabilities | 0 | 3,840 |
Within 1 year [Member] | ||
Disclosure Of Maturity Profile Of The Groups Financial Liabilities Based On Contractual Undiscounted Payments [Line Items] | ||
Trade and other payables | 42,545 | 21,242 |
Borrowings | 7,582 | 110 |
Lease liabilities | 4,763 | 2,737 |
Accrued expenses | 1,677 | 907 |
Total financial liabilities | 56,567 | 24,996 |
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 | 78 | 0 |
Borrowings | 1,121 | 166 |
Lease liabilities | 7,637 | 5,042 |
Accrued expenses | 0 | 0 |
Total financial liabilities | 8,836 | 5,208 |
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 | 0 | 0 |
Borrowings | 572 | 0 |
Lease liabilities | 4,845 | 3,183 |
Accrued expenses | 0 | 0 |
Total financial liabilities | 5,417 | 3,183 |
> 5 years [Member] | ||
Disclosure Of Maturity Profile Of The Groups Financial Liabilities Based On Contractual Undiscounted Payments [Line Items] | ||
Trade and other payables | 0 | 0 |
Borrowings | 1,521 | 0 |
Lease liabilities | 2,865 | 1,613 |
Accrued expenses | 0 | 0 |
Total financial liabilities | ₽ 4,386 | ₽ 1,613 |
Financial Instruments, Risk M_8
Financial Instruments, Risk Management and Capital Management - Additional Information (Detail) - RUB (₽) ₽ in Millions | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Text Block [Abstract] | ||||
Cash and cash equivalents | ₽ 103,702 | ₽ 3,003 | ₽ 2,684 | ₽ 3,803 |
Percent of cash and cash equivalents with banks having external credit ratings of BBB-/BBB | 99.00% | 97.00% | ||
Impairment loss recognised in profit or loss | ₽ 0 |
Financial Instruments, Risk M_9
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, 2020 | Dec. 31, 2019 | |
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | ₽ 13,725 | ₽ 5,742 |
Financing cash flows | 5,916 | 2,736 |
Leases (non-cash) | 8,122 | 5,143 |
Conversion of the loan into equity | (3,594) | |
Other | 769 | 104 |
Ending Balance | 24,938 | 13,725 |
Borrowings [Member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 4,116 | 409 |
Financing cash flows | 8,212 | 3,603 |
Leases (non-cash) | 0 | 0 |
Conversion of the loan into equity | (3,594) | |
Other | 714 | 104 |
Ending Balance | 9,448 | 4,116 |
Lease liabilities [Member] | ||
Disclosure of reconciliation of liabilities arising from financing activities [line items] | ||
Beginning balance | 9,609 | 5,333 |
Financing cash flows | (2,296) | (867) |
Leases (non-cash) | 8,122 | 5,143 |
Conversion of the loan into equity | 0 | |
Other | 55 | 0 |
Ending Balance | ₽ 15,490 | ₽ 9,609 |
Events After the Reporting Da_2
Events After the Reporting Date - Additional Information (Detail) $ / shares in Units, ₽ in Millions, $ in Millions | Mar. 31, 2021shares$ / shares | Feb. 28, 2021USD ($)$ / shares | Mar. 31, 2020RUB (₽) | Jan. 31, 2021RUB (₽) | Dec. 31, 2020RUB (₽) | Dec. 31, 2019RUB (₽) | Dec. 31, 2018RUB (₽) |
Events After The Reporting Date [Line Items] | |||||||
Repayments of borrowings, classified as financing activities | ₽ | ₽ 499 | ₽ 310 | ₽ 162 | ||||
Proceeds from borrowings, classified as financing activities | ₽ | ₽ 6,000 | ₽ 8,711 | ₽ 413 | ||||
Event after reporting date [Member] | |||||||
Events After The Reporting Date [Line Items] | |||||||
Repayments of borrowings, classified as financing activities | ₽ | ₽ 6,639 | ||||||
Proceeds from borrowings, classified as financing activities | $ | $ 750 | ||||||
Borrowings, interest rate | 1.875% | ||||||
Borrowings, maturity | 2026 | ||||||
Convertion price per share | $ / shares | $ 86.6480 | ||||||
Number of other equity instruments granted in share-based payment arrangement | shares | 314,230 | ||||||
Weighted average exercise price of other equity instruments granted in share-based payment arrangement | $ / shares | $ 0 | ||||||
Number of share options exercised in share-based payment arrangement | shares | 200,000 | ||||||
Event after reporting date [Member] | Two thousand nine stock option agreement [Member] | |||||||
Events After The Reporting Date [Line Items] | |||||||
Number of shares issued | shares | 193,358 |