SISTEMA PUBLICFINANCIAL CORPORATION FINANCIAL RESULTS
1Q 2023
June 2023
DISCLAIMER
Certain statements in this presentation may contain assumptions or forecasts in respect to forthcoming events within Sistema PJSFC or
its portfolio companies. The words "expect", "estimate", "intend", "will", "could" and similar expressions identify forward-looking statements.
We wish to caution you that these statements are only predictions and that actual events or results may differ materially.
We do not intend to update these statements to reflect events and circumstances occurring after the above-mentioned date or to reflect the occurrence of unanticipated events.
Many factors could cause Sistema's actual results to differ materially from those contained in our projections or forward-looking statements, including, among other things, deteriorating economic and credit conditions, our competitive environment, risks associated with the deterioration of the geopolitical situation, rapid technological and market change in the markets where Sistema operates and on the financial results of Sistema and its subsidiaries and associates, as well as many other risks specifically related to Sistema and its operations.
SISTEMA PUBLIC JOINT STOCK FINANCIAL CORPORATION | Financial Results 1Q 2023 | 2 |
DIVERSIFICATION OF INVESTMENT PORTFOLIO
DRIVES POSITIVE TREND IN FINANCIAL PERFORMANCE
CONSOLIDATED REVENUE,
RUB bln
206.6
221.1
REVENUE GROWTH LEADERS
1Q 2023 YoY
221.1
1Q 2023
1Q 2022
1Q 2023
+7.0%
+6%
+32%
+14%
ADJ. OIBDA,1
RUB bln
Telecom Healthcare Agribusiness
asset asset asset
82.4
1Q 2023
NET CORPORATE CENTRE DEBT,
RUB bln
258.1
1Q 2023
228.8
1Q 2022 |
73.0
1Q 2022
245.2
4Q 2022 |
258.1 |
1Q 2023 |
82.4
1Q 2023
+5.3%
1Q 2023 /4Q 2022
+12.9%
OIBDA GROWTH LEADERS
1Q 2023 YoY
+45% +50%
+14%
Healthcare Pharmaceutical Agribusiness
asset asset asset
Hereinafter, the results of the Corporate Centre are presented based on management accounts. Numbers may not add up due to rounding. | |
(1) The Group's 1Q 2022 financial performance adjusted for accruals related to the LTI programme at portfolio companies and the impairment of assets as well as other one-off expenses. | 3 |
HIGHLIGHTS IN 1Q 2023 AND AFTER THE REPORTING DATE
Sistema became the owner of Russia's leading manufacturer of certified organic
cosmetics, which had revenue of over RUB 10 billion in 2022 and no net debt as of the end of April 2023.
The Corporation's hospitality asset
doubled its business thanks to the acquisition of 10 hotels in four Russian cities for EUR 200 million.
Sistema improved its position in Sustainalytics' international ESG rating (from 11.5 to 9.6 points):
the only Russian company among the leaders in the global rating and demonstrating one of the best results among diversified financial companies worldwide.
The Board of Directors of the Corporation's telecommunications asset recommended that the General Meeting of Shareholders approve a dividend payout for 2022 in the amount of RUB 67.2 billon.
Sistema monetised a portion of its financial instruments portfolio in the amount of RUB 5.9 billion.
Sistema's Board of Directors recommended that the General Meeting of Shareholders approve dividends for 2022 in the amount of RUB 4.0 billion.
SISTEMA PUBLIC JOINT STOCK FINANCIAL CORPORATION | Financial Results 1Q 2023 | 4 |
FINANCIAL REVIEW
FOR 1Q 2023
CONSOLIDATED REVENUE, | |||||||
RUB bln | |||||||
+14.1 | +7.6 | +4.5 | +1.2 | +0.2 | (13.6) | +0.5 | |
206.6 | |||||||
1Q 2022 | Development | Telecom asset | Agribusiness | Healthcare | Pharmaceutical Forestry asset | Other | |
asset | asset | asset | asset | assets, | |||
net |
ADJ. OIBDA,
RUB bln | +2.3 | +1.3 | +0.6 | (10.2) |
+15.7 | ||||
(0.3) | ||||
73.0 | ||||||
1Q 2022 | Effect of hotel | Telecom | Agribusiness | Pharmaceutical | Forestry asset | Other |
acquisition | asset | asset | asset | assets, | ||
net |
221.1 |
1Q 2023 |
82.4 |
1Q 2023 |
+7.0%
+12.9%
Telecom asset:robust revenue growth thanks primarily to solid performance in the Telecom, Adtech (advertising products for business), Fintech and Media services.
Agribusiness asset:substantial revenue growth thanks to (1) higher export volumes in trading segments; (2) efficient sales of crops left over from the previous year's harvest; (3) an increase in the gross milk yield.
Healthcare asset:high growth rates driven by an increase in the number of visits to healthcare centres and the opening of new clinics in Moscow, the Moscow region and other Russian regions.
Pharmaceutical asset:positive revenue trend despite the high base stemming from tenders for the purchase of drugs to treat covid-19 in January-February 2022.
Forestry asset:quarterly financial results came under pressure from the significant appreciation of the ruble and the structural transformation of the company's sales geography. Efforts to reroute sales to alternative markets are ongoing.
SISTEMA PUBLIC JOINT STOCK FINANCIAL CORPORATION | Financial Results 1Q 2023 | 5 |
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Afk Sistema OAO published this content on 15 June 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 June 2023 07:03:02 UTC.
