AliExpress in Russia reduced its sales loss to 99 million rubles

Alibaba Company.<url>, which is part of the AliExpress CIS joint venture, reduced its sales loss to 98.96 million rubles in 2024, compared with 2.7 billion rubles in 2023. This follows from the public accounting statements published on the state financial reporting information resource.

In addition, the company's commercial expenses decreased by 43%, amounting to 993 million rubles. Other expenses decreased to 51 million rubles. Expenses for ordinary activities decreased to 12,633 million rubles. At the same time, Alibaba's revenue.<url>", according to RAS, increased by 20% in 2024 and reached 12.5 billion rubles against 10.4 billion rubles in 2023.

"Starting in 2022, we have changed the direction of our business and focused on the cross-border segment and the development of logistics from China. Due to this, we have reduced the costs that were spent on investing in local businesses and optimized our work with foreign sellers," Sergey Grechin, CEO of AliExpress CIS, commented to Izvestia.

The company's net profit decreased to 1.7 billion rubles. The reduction is due to the fact that in 2023, the profit included write-offs of borrowed funds, which are reported as income not from core activities. Thus, the profit in the previous financial statements arose when writing off obligations between the legal entities of the joint venture.

In mid-March, the analytical company INFOLine presented an updated study on the online trading market in Russia. Taking into account cross-border sales in Russia, AliExpress entered the top 10 companies. Prior to that, in early March, the company published a rating excluding overseas sales and AliExpress data, which focused entirely on cross-border trade.