We operate in a market characterized by rapid commercial and technological change, and we face significant competition in many aspects of our business, including search and digital advertising, ride-hailing, e-commerce, food and grocery delivery, classifieds, media services, cloud and others. Across our different business lines we face competition from both global players (such as Google, Facebook among the key) and local companies (Mail.ru, Sberbank and others).
Yandex’s segment reporting includes Search and Portal, Taxi, Yandex.Market, Classifieds, Media and Other Bets and Experiments.
Taxi segment includes Ride-hailing (Yandex.Taxi in Russia and 16 other countries across CIS and EMEА, and Uber in Russia and CIS), for both B2C and B2B, Logistics, car-sharing (Yandex.Drive) and FoodTech (Yandex.Eats and Yandex.Lavka).
Other Bets & Experiments segment includes Self-Driving Group (SDG), Zen, Cloud, Yandex.Education, Geolocation, Investments and Edadeal.
Data centers, including servers, networking equipment and engineering, account for about half to two-thirds of Yandex’s capital expenditures. The remaining part is spent on office infrastructure, projects (including Yandex.Market and Yandex.Lavka) as well as investments in the construction of the company’s new Campus.
Approximately two thirds of Yandex’s capex is denominated in foreign currency.
In 2021 Yandex’s capex is anticipated to remain in low double digits as a percentage of the total group revenue, including planned investments in a new Campus. Excluding Campus constructions costs, capex to sales is expected to be in high single digit range.
Yandex’s capital structure consists of Class A shares, Class B shares, Class C shares and one Priority Share, held by a Public Interest Foundation. No other priority shares have been issued.The principal features of the three classes of ordinary shares and the Priority Share are as follows: