Qiwi IFRS adj net profit falls 24% to 3.6 bln rbl in Jul–Sep

MOSCOW, Nov 17 (PRIME) -- The adjusted net profit of Russian payment system operator Qiwi decreased by 24% on the year to 3.564 billion rubles in July–September, as calculated under International Financial Reporting Standards (IFRS), the company said on Friday in a statement.

Revenue increased by 32.8% to 17.206 billion rubles.

Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) contracted 36.6% to 3.562 billion rubles. The adjusted EBITDA margin lost 23.9 percentage points to 40.5%.

“Due to the lingering stock market infrastructure issues, the company does not see the opportunity to arrange the distribution of dividends or repurchase shares with the equal treatment of all existing shareholders. Therefore, the board decided to keep the distribution of dividends under review until changes of the sanction regime or other developments enable the company to distribute dividends to all of its shareholders,” Qiwi said.

(88.9466 rubles – U.S. $1)

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