Qiwi отчет за 1-й квартал 2018

4.05.2018, 08:31

Qiwi ускоряется.

First Quarter 2018 Operating and Financial Highlights

  • Total Adjusted Net Revenue increased 41% to RUB 4,099 million ($71.6 million)
  • Payment Services Segment Net Revenue increased 26% to RUB 3,668 million ($64.1 million)
  • Adjusted EBITDA decreased 5% to RUB 1,450 million ($25.3 million)
  • Adjusted Net Profit decreased 15% to RUB 1,081 million ($18.9 million), or RUB 17.62 per diluted share
  • Payment Services Segment Net Profit increased 27% to RUB 2,209 million ($38.6 million) or RUB 36.05 per diluted share
  • Total Payment Services volume increased 20% to RUB 249.2 billion ($4.4 billion)

Отличное начало года:

“Today I’m glad to share with you our first quarter 2018 results and our strong start of the year. I would like to highlight the continued growth in our core Payment Services segment that demonstrated 26% segment net revenue growth and 27% segment net profit growth in the first quarter 2018 driven by the development of our payment ecosystem, implementation of new projects and secular trends towards digitalization of payments in our focus market verticals,” said Sergey Solonin, QIWI’s chief executive officer. “We demonstrated strong financial results in our payment services business in the first quarter and thus were able to continue investing in our new business lines and projects. We continued to focus on the development and expansion of our Consumer Financial Services segment represented by the SOVEST project and our SME segment through Tochka multibank service.

We see many opportunities for growing our payment services business by focusing on building a wider digital infrastructure and enriching our product offering, expanding and penetrating further our focus markets and, thus generating substantial operating cash flows. At the same time we continue to see 2018 as a year of investments in our new projects and will continue to focus on executing our strategy and developing our new initiatives.”

Компании роста не платят большие дивиденды, потерпите:

Dividend: Throughout 2017, we have been heavily investing in our new project SOVEST and we anticipate that we will continue to bear significant costs related to the SOVEST project and certain other projects that we are developing now or plan to develop in the future. Thus, starting from the third quarter 2017 our Board of Directors have taken a decision to refrain from paying dividends. While long-term we remain committed to distributing all excess cash to our shareholders, the commencement of dividend distribution within the period of twelve months since the decision has been taken is unlikely.

Деньги на развитие есть:

Количество пользователей растет

Объем платежей год к году вырос на 20%, что говорит о том, что Qiwi это растущая компания.

Qiwi торгуется с существенным дисконтом к интернет-гигантам.

EV/EBITDA = 10,0

P/E = 17,8

долг/EBITDA = -3,4

Компания может прогрессировать и главное быть поглощенной Открытием.