Yandex

Yandex Reaffirms Full-Year 2011 Revenue Guidance

September 29, 2011

Moscow and The Hague, September 29, 2011. Yandex (NASDAQ: YNDX) today reaffirmed its revenue guidance for full-year 2011, calling for ruble-based revenue growth of 55%-60%.

The Company notes that while its share of the search market in Russia has declined in recent weeks, with an average share of 63% of search queries in August and 61.4% in September (through September 26), according to Liveinternet, the Company operates in a high growth market where search share fluctuates constantly. Although it is difficult to pinpoint exactly why share changes from one period to the next, often it can be attributed to the release of a new search feature or launch of a new distribution arrangement. Yandex believes that its recent drop in share of search, among other things, reflects increases in searches on Chrome browser-enabled devices. Despite fluctuations in market share, the Company expects 2011 revenues to demonstrate strong revenue growth between 55% and 60% (in rubles) as compared to 2010. Yandex also continues to make 2011 capital expenditure outlays in-line with its prior comments of up to RUR 6.3 billion.

Historically, Yandex has experienced periods in which its market share temporarily declined due to changes in the competitive environment. “Because of our commitment to constantly strengthening our search offering through improvements to our algorithms and other efforts, we have in the past recaptured and built on our market share after periods of decline,” said Arkady Volozh, CEO of Yandex. “We continue to devote significant resources to address our market share and are confident that we will deliver strong growth and maintain our leading market position in Russia, while we continue to expand internationally.”

ABOUT YANDEX

Yandex (NASDAQ: YNDX) is the leading internet company in Russia, operating the country’s most popular search engine and the most visited website. Yandex also operates in Ukraine, Kazakhstan, Belarus and Turkey. Yandex’s mission is to answer any question internet users may have.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that involve risks and uncertainties. These include statements regarding the development of our search market share, our year-on-year revenue growth and our 2011 capital expenditures. Actual results may differ materially from the results predicted or implied by such statements, and our reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted or implied by such statements include, among others, competitive pressures, changes in advertising patterns, changes in the legal and regulatory environment, technological developments, unforeseen changes in our hiring patterns, and our need to expend capital to accommodate the growth of the business, as well as those risks and uncertainties included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Prospectus dated May 24, 2011, which is on file with the Securities and Exchange Commission and is available on our investor relations website at http://company.yandex.com/investor_relations/sec_filing.xml and on the SEC website at www.sec.gov. All information provided in this release is as of the date hereof, and Yandex undertakes no duty to update this information unless required by law. 

 

Contacts:
Investor Relations
Dmitry Barsukov, Katya Zhukova
Phone: +7 495 739-70-00
Fax: +7 495 739-70-70
E-mail: askIR@yandex-team.ru

Press Service
Ochir Mandzhikov, Dina Litvinova
Phone: +7 495 739-70-00
Fax: +7 495 739-70-70
E-mail: pr@yandex-team.ru

Contact Us

Yandex N.V.

Registered Office in Amsterdam
Schiphol Boulevard 165, 1118 BG Schiphol, The Netherlands
tel.: +31 0 20 206 6970

Yandex LLC

Headquarters in Russia
Yandex LLC Office in Moscow

Headquaters

16, Leo Tolstoy St., Moscow, Russia 119021
tel.:  +7 495 739-70-00
fax: +7 495 739-70-70

Avrora Business Centre

82, Sadovnicheskaya St., building 2, Moscow, Russia 115035
tel.:  +7 495 739-70-00
+7 495 974-35-81
fax:  +7 495 739-70-70

Advertising clients

Public relations

Address

Piskariovski Boulevard, building 2, block 2, Benois Business Centre, Saint Petersburg 195027, Russia

Reception

tel.: +7 812 633-36-00,
fax: +7 812 633-36-99
8 800 250-96-39 (or 8 800 250-YNDX)
Calls to 800 numbers are toll-free from Russia's regions

Address

10, Khokhryakova St., Ekaterinburg, Russia 620014

Reception

Address

35, Krasnoyarskaya St., Novosibirsk, Russia 630004

Address

6, Spartakovskaya St., Kazan, Russia 420107

Address

Technopark, 3rd floor, offices 301 and 303, 7, Universitetskaya St., Innopolis, Russia 420500

Address

Dolomanovski Lane 70D, Gvardeyski Business Centre, Rostov-on-Don, Russia 344011

Address

10/16, Alekseyevskaya St., Lobachevski Plaza, Nizhny Novgorod, Russia 603005

Reception

tel.: +7 831 233-06-06 (or  8 800 234-24-80) Calls to 800 numbers are toll-free from Russia's regions

Address

1a, Kazanskaya St., Simferopol 295006

Reception

Address

17, Okeanski Boulevard, 10th floor, office 1012, Fresh Plaza Business Centre, Vladivostok, Russia 690091

Address

15, Komsomolskaya St., Ascona Business Centre, 12th floor, office 224, Krasnodar, Russia 350063

Address

91, Volskaya St., Stolypin Business Centre, 4th floor, office 412, Saratov, Russia 410012

Address

78, Michurina St., Millenium Business Center, 6th Floor, Office 603, Samara, Russia 443110

Address

26A, bld. 2, Lenina Boulevard, Bovid Business Center, 6th Floor, Office 608 and 611, Chelyabinsk, Russia 454007

Address

5, Dzerzhinskogo Boulevard, Rubin Plaza Business Centre, Office 707, Minsk, Belarus 220036

Reception

Address

43, Dostyk Boulevard, Almaty, Kazakhstan 050010

Address

38R Merrimac St., Suite 201, Yandex Inc., Newburyport, MA 01950 United States

Reception

Address

Kolektif House Levent Yandex / Esentepe Mah. Talatpaşa Caddesi No:5,34330 Levent, Şişli-İstanbul, Türkiye

Reception

Address

Citybay Business Center, Werftestrasse 4, CH 6005 Lucerne, Switzerland

Address

Karl-Liebknecht-Straße, 1, 10178 Berlin, Germany

Address

WeWork, Office 327, 135 Yanping Road, Jing'an District, Shanghai, China, 200042

 

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