Ukraine’s warehouse campaign reaches Ozon—shares plunge 29%

Ukrainian drone strikes targeting Ozon's warehouses led to a 29.09% decline in the retailer's shares on Monday, according to RBC's market report. The Moscow Exchange adjusted Ozon's trading schedule to a 30-minute auction period, while other trading methods remained active. Unlike privately owned Wildberries, Ozon's public listing made the impact of the disruptions evident to investors right away.

The company had been reporting losses at six facilities since August 22nd: warehouses in Chapayevsk and Orenburg, three in southern Russia, and one in Krasnodar. Since then, drone attacks have also hit two Epicentr hypermarkets in Odesa and food warehouses in the city. President Vladimir Putin had previously warned that Ukraine could target Russia's "most sensitive economic sectors."

Ozon's share price fell more than the broader MOEX index, suggesting investors were reacting to company-specific risks rather than simply following the market trend. The retailer had already experienced a 2.3% drop on July 22nd due to concerns over being a potential target. Wildberries, Ozon, and their smaller competitors generate goods and services worth 8.5% of Russia's GDP and employ over 4 million people, or 5% of the nation's workforce.

The recent attacks transformed a previously abstract risk into a tangible operational disruption. Ozon reported fires at its Makhachkala facility and Krasnodar warehouse, while in Chapayevsk, over 500 workers were evacuated, operations were halted, and shipments were rerouted. Following the Chapayevsk evacuation, another 300 workers were moved, and the Orenburg warehouse was closed. The repeated attacks progressively diminished the capacity available to absorb further closures.