print version 

Find company
Home About the ProjectContact usFor the Clients
Enter code or ISIN
 
alpha / industry search

Issuers' Corner
Press Releases
Annual Reports Library

Financial Statements
SEC & FFMS Filings
Corporate Presentations
GM Materials
Issues Documents
Corporate Governance Materials
Russian Company Guide
Company Profiles
Corporate Calendar
Markets Corner
Consensus Estimates
Media Corner
News Line


Get updates



Home  Issuers' Corner  Press Releases REGISTER LOG IN

Press Releases

company search
all press releases
all Financial Corporation "Sistema" press releases

Financial Corporation "Sistema"

December 15, 2022

Sistema announces financial results for the third quarter 2022

Moscow, Russia – 15 December 2022 – Sistema PJSFC (“Sistema”, the “Corporation”, or together with its subsidiaries and affiliates the “Group”) (LSE: SSA, MOEX: AFKS), a Russian publicly traded investment company, announces its unaudited consolidated financial results in accordance with International Financial Reporting Standards (IFRS) for the third quarter of 2022 (3Q 2022), ending 30 September 2022.

Sistema results review[1]

 (RUB mln)

 3Q 2022 

 3Q 2021 

 Change

 9M 2022 

 9M 2021 

 Change 

 Consolidated revenue

 239,733

 219,552

 9.2%

 658,630

 559,882

 17.6%

 Adj. OIBDA

 70,137

 77,206

 (9.2%)

 228,021

 196,404

 16.1%

 Operating income

 33,872

 41,533

 (18.4%)

 116,116

 97,059

  9.6%

 Net profit/(loss) attributable to Sistema

 28,354

 888

 3,091.7%

 4,490

 (5,395)

 n/a

 Adj. net profit/(loss) attributable to Sistema 

 28,100

 2,292

 1,125.9%

 3,514

 (3,494)

 n/a

In 3Q 2022, Sistema's consolidated revenue increased by 9.2% year-on-year to RUB 239.7 billion due to the consolidation of Etalon Group's results since May 2022 as well as higher revenue at a number of key assets: at Medsi, thanks to the acquisition and opening of new clinics as well as increased patient flows; at MTS, due to continued growth in the telecom, fintech and media business verticals; and at Binnopharm Group, as a result of a significant increase in sales in the retail segment.

The Group's adjusted OIBDA decreased by 9.2% year-on-year to RUB 70.1 billion in 3Q 2022 due to a decline in Segezha Group’s financial results amid the considerable appreciation of the ruble year-on-year and the ongoing transformation of the company's sales geography, and also as a result of the postponement of crop sales at Steppe to future periods.

Group capex decreased by 39.8% to RUB 28.6 billion in 3Q 2022 due to forward investments on the part of key portfolio companies in prior periods.

The Corporate Centre's net financial liabilities increased by 10.0% year-on- year and decreased by 2.0% quarter-on-quarter to RUB 229.5 billion. The Corporate Centre's cash balance was RUB 16.4 billion. A portion of free cash flow, in the amount of RUB 15.3 billion, was invested in highly liquid securities. The Group's net financial liabilities amounted to RUB 935.4 billion.

Tagir Sitdekov, Sistema President: “Sistema has demonstrated sustainable business growth, reflecting the diversification of our investment portfolio and strong management at our Group companies. Our assets have been adapting to the new business environment, reshaping supply and logistical chains, creating new opportunities for growth and maintaining a high level of financial discipline. We will continue to implement our strategy, which is aimed at the development of leading companies in the Russian market in the interests of all stakeholders”.

Download press release

For further information, please visit www.sistema.ru or contact:


Investor Relations

Public Relations

Sergei Levitskiy

Sergei Kopytov

Tel: +7 (495) 730 66 00

Tel.: +7 (495) 730 17 05

s.levitskiy@sistema.ru

kopytov@sistema.ru

[1] The Group’s financial performance adjusted for accruals related to the LTI programme at portfolio companies and the impairment of MTS assets, as well as for Segezha Group’s financial expenses associated with the revaluation of interest rate swaps. The Corporate Centre’s financial liabilities net of cash and cash equivalents are presented based on management accounts. The Group’s financial liabilities include finance leases and are net of cash and cash equivalents and deposits in banks.




Search by industry

Agriculture, Foresty and Fishing | Chemicals | Engineering | Ferrous Metals | Financial, Insurance & Real Estate | Food & Kindred Products | General Construction | Information Technology | Media & Publishing | Non-Ferrous Metals | Oil & Gas | Pharmaceuticals | Power Industry | Precious Metals and Diamonds | Telecommunications | Transportation | Wholesale & Retail Trade

Search by alpha index

A B C D F G I K L M N O P R S T U V W X Z


Site Map
© RUSTOCKS.com
Privacy Statement | Disclaimer