By the end of 2020, a joint venture of Yandex and Uber “Yandex.Taxi” may re-enter the loss after net profit in 2019, predict analysts at Sberbank CIB. The taxi service at the same time, according to analysts, in the future years will keep a good performance, despite the pandemic, the greater part of the loss generates developed by the project unmanned vehicles and food delivery services. The loss should not become a hindrance for the IPO plans, are more strongly may reflect the overall economic situation, experts say.The Company “Yandex.Taxi” by the end of 2020 will be able to return to the loss, predict analysts at Sberbank CIB in a report, which read “y”. Adjusted EBITDA of the company, which by the end of 2019 amounted to 700 million rubles, by the end of 2020 can go in the negative to RUB 200 million, they estimate. The same indicator of individual taxi business remains positive, an increase from 4.9 billion to 5.6 billion roubles, the net loss of the company will bring unmanned vehicles (minus 3 billion rubles EBITDA), “Yandex.Food” and “Yandex.The shop”. Total revenue of “Yandex.Taxi”, according to the forecast, will grow by 44%, to 54.7 billion rubles, and the key driver of this is just “Yandex.Shop”, which will bring 11.6 billion RUB back to April 7, the number of trips by taxi in Moscow during isolation decreased by 56%, state at Sberbank CIB. However, the provision “Yandex.Taxi” better than the other companies in the market, the report notes: at the end of the year the number of trips that the aggregator can grow at 12% with an increase of 7% from other carriers on average. Before the pandemic at Sberbank CIB expected market growth by 35-40%. Also the situation will not allow “Yandex.Taxi” to raise rates, but the supply of funds, the company will enable it to enter in 2021 in a much stronger position, say analysts.Before the pandemic “Yandex.Taxi” considered an IPO in 2020. Reuters earlier reported that the company chose to do this, investment banks Morgan Stanley, Goldman Sachs and “VTB Capital”, the same bullet was heard and the source “b”. In “Yandex.Taxi” does not comment on whether pandemic plans.The IPO very often go out with a loss, the company just go there for the money, showing prospects for future earnings, says a leading analyst “Finam” Leonid Delitsyn, Recalling that Uber, Twitter and Facebook went to IPO with a loss in the financial statements. Hindrance to maturity is more likely to alter the assessment of the prospects of the market, for example, in the case of strongly prolonged isolation, he said. Drawdown of traffic — “time trouble”, after the termination of isolation must come to normal, agrees Deloitte partner Anton Shulga. In his opinion, “Yandex.Taxi” now, on the contrary, can strengthen relationships with taxi companies, helping them to survive, so the IPO a loss should not influence, rather, affect it the pace of recovery of the financial market.In General, the taxi industry was “very badly damaged”, says the representative of group “Lucky,” which, according to him, in April lost up to 60% of orders in key areas. Source of capital for the group may be just “Yandex.Taxi”, the acquisition of its assets requires approval from the Federal Antimonopoly service. Without her approval, the investor has no opportunity to send to the company the necessary 8-9,5 billion roubles, without it a business can expect mass layoffs, says the representative of “Luck”.Companies are looking for alternative sources of revenue. So, “Yandex.Taxi” has added Express delivery to the application, and serves the orders from “Yandex.Food.” “Lucky” is also trying to rebuild the platform for services delivery. “Citymobil”, according to her representative George Lobaskin also launched delivery of parcels and plans to add the order button via the services and Delivery Club “Scooter”.Yulia Stepanova, Dmitry Shestoperov
