VK International (VKCO) investor relations material

Executive summary

• Revenue for the six months ended June 30, 2026, increased to ₽81,043 million, up from ₽72,567 million year-over-year, driven by growth in online advertising, user payments, and business technology segments.

• Net loss for the period was ₽3,846 million, a significant improvement from a net loss of ₽12,671 million in the prior year period.

• Operating cash flow turned positive at ₽15,408 million, compared to an outflow of ₽5,226 million in the previous year.

• The group remains a leading player in social platforms, content, educational technologies, and business digital services in Russia and CIS.

Financial highlights

• Revenue rose 12% year-over-year, with all major segments contributing to growth.

• Operating expenses increased to ₽67,997 million from ₽62,139 million year-over-year.

• Adjusted EBITDA reached ₽14,018 million, up from ₽10,441 million in the prior year.

• Net loss per share improved to ₽6 from ₽22 year-over-year.

• Cash and equivalents increased to ₽49,571 million as of June 30, 2026, from ₽32,759 million at year-end 2025.

Outlook and guidance

• Management expects higher revenue and operating profit in the second half due to seasonality, with advertising budgets typically spent in Q4.

• The group anticipates continued positive cash flow and stable liquidity, supported by operational performance and available credit resources.