|Over a week ago|
Qiwi cancels offering of Class B shares for holders » 17:0207/2207/22/20
Qiwi plc announced the…
Qiwi plc announced the decision of its selling shareholders not to proceed with the previously announced secondary offering of the company's Class B shares represented by American Depositary Shares at this time due to market conditions.
Qiwi sees Q2 revenue up 20.8% year-over-year at midpoint of guidance » 14:0407/2107/21/20
QIWI plc provided its…
QIWI plc provided its preliminary estimated financial results for the three months ending June 30. "Total net revenue expected year-over-year increase at the midpoint of 20.8% was primarily driven by the significant one-off increase in Rocketbank segment net revenue driven by the measures we took as part of the Rocketbank wind-down process, including the termination of the Rocketbank loyalty program, which used to substantially increase the cost of revenue of the Rocketbank segment, as well as growth in payment services segment net revenue, Consumer Financial Services segment net revenue and corporate and other category net revenue. Payment services segment net revenue expected year-over-year increase at the midpoint of 3.7% was primarily driven by the increase in payment services net revenue yield resulting from a change in the product mix and offset by slight decrease of the payment volume. Payment volume and net revenue growth in most of our categories was negatively affected by the outbreak of the COVID-19 strain of coronavirus and associated responses from various countries around the world, including for example a temporary decline of revenues from our betting merchants due to the cancellation of numerous major sporting events, a drop in money remittance primarily due to a decline in various self-employed payment streams and a decline in financial services market vertical due to temporary shutdown of our retail distribution partners resulting from lockdown restrictions. Adjusted EBITDA expected year-over-year increase at the midpoint of 43.3% was primarily driven by the net revenue growth as well as a decrease in certain selling, general and administrative expenses as well as personnel expenses primarily related to the divestitures of loss making projects, including the winding-down of Rocketbank and sale of the SOVEST project," the company stated.
Qiwi announces offering of 6.8M Class B shares for holders » 16:0407/2007/20/20
QIWI plc announced the…
QIWI plc announced the launch of an underwritten secondary public offering of an aggregate of 6.8M its Class B Shares represented by American Depositary Shares, or ADSs, to be sold by certain shareholders. J.P Morgan Securities, UBS Securities, and VTB Capital are acting as joint book-running managers for the offering.
Qiwi completes sale of SOVEST project » 07:4007/1507/15/20
QIWI announced that it…
QIWI announced that it has completed the sale of its SOVEST consumer lending business to Sovcombank. In connection with this transaction the Company assigned claims held against SOVEST customers to Sovcombank with a gross carrying amount of approximately RU8.2B and net amount of approximately RUB6.9B as well as certain other assets related to SOVEST project for a cash consideration of RUB5.8B for such claims and assets including a partial reimbursement of related redundancy costs. The company said, "We will incur a loss on disposal of the SOVEST project in the amount of approximately RUB0.8B, which is better than our initial expectation. Such loss is not expected to affect Group Adjusted Net Profit. Under the terms of sale certain other adjustments may occur until the end of 2020, however, we do not believe that such adjustments will materially affect the overall deal value as well as associated loss on disposal. The resulting loss on disposal of the SOVEST project as well as the cash consideration received are below our initial estimates because the gross carrying amount of the portfolio as of the date of the valuation event declined as compared to the announcement date. Such decline was driven primarily by better than expected portfolio performance that resulted from lower negative macroeconomic impact on collection and portfolio quality as well as lower participation in the restructuring program by SOVEST customers."
|Over a month ago|
Qiwi price target raised to $25 from $19 at JPMorgan » 12:2306/1806/18/20
JPMorgan analyst Alexei…
JPMorgan analyst Alexei Gogolev raised the firm's price target on Qiwi to $25 from $19 and keeps an Overweight rating on the shares.
Qiwi to sell its SOVEST consumer lending business to Sovcombank » 16:3206/1706/17/20
QIWI announced that it…
QIWI announced that it has entered into binding transaction agreements to sell its SOVEST consumer lending business to Sovcombank. As a part of the transaction, the company expects to assign claims held against SOVEST customers to Sovcombank with a gross carrying amount of approximately RUB 9B and net amount of approximately RUB 7.6B and to receive a cash consideration in the range of RUB 6B to RUB 6.5B for such claims. In addition, QIWI expects to transfer to Sovcombank substantially all assets including respective brands and domains. As a part of the transaction, Sovcombank intends to extend job offers to certain SOVEST employees and reimburse to QIWI a part of the redundancy costs, if any.
Qiwi price target raised to $19 from $18 at JPMorgan » 12:0605/2105/21/20
JPMorgan analyst Alexei…
JPMorgan analyst Alexei Gogolev raised the firm's price target on Qiwi to $19 from $18 and keeps an Overweight rating on the shares. The analyst called the stock a "long-term bet on rising self-employed activity."
Fly Intel: Pre-market Movers » 08:5605/2005/20/20
ALDX, UAL, TGT, LOW, ADI, RDY, CNTY, QIWI, MCK, URBN, FND, SPCE, ALRM
Check out this morning's…
Qiwi backs 2020 revenue growth view of 3%-13%, consensus $326.04M » 06:3605/2005/20/20
Payment Services Segment…
Payment Services Segment Net Revenue is expected to change by -3% to 5% over 2019; adjusted Net Profit is expected to increase by 10% to 30% over 2019.
Qiwi reports Q1 EPS 33c, consensus 46c » 06:3505/2005/20/20
Reports Q1 revenue up 17%…
Reports Q1 revenue up 17% to $80.5M, consensus $80.73M. Q1 payment Services Segment Net Revenue increased 10% to $68.5M. "This quarter we demonstrated robust performance, even though we have started seeing the negative impact of the spread of COVID-19 and quarantine regime imposed globally late in the quarter," said CEO Boris Kim. "We see many challenges ahead, primarily imposed by the pandemic coronavirus outbreak that affects some of our key categories as well as macroeconomic headwinds caused by a steep decline in oil prices and ruble devaluation. Nevertheless, we believe and have proved many times before that we have created a resilient ecosystem that is highly adaptive and consumer oriented, and will continue to develop it further by targeting our core niches and areas of expertise and creating new use cases well fitted to serve our clients, merchants and partners. At the same time, we continue to optimize our operations and implement stricter cost controls."