IFRS financial results
Q3 and 9M 2024
SisteSistemaa PJSFCPJSFC||IFRSIFRSfinancialfinancialresultsresultsforforQ33 2024and 9M 2024
Moscow, Russia - 28 November 2024 - Sistema PJSFC (hereinafter, "Sistema", the "Corporation" or, together with portfolio companies, the "Group")
(MOEX: AFKS), a publicly traded Russian investment company, announces its unaudited consolidated financial results prepared in accordance with International Financial Reporting Standards (IFRS) for the third quarter and nine months that ended on 30 September 2024.
Revenue
888.3 RUB
bn
9M 2024
Adj. OIBDA¹
246.4 RUB
bn
9M 2024
Net income
1.8 RUB
bn
9M 2024
In 9M 2024, Sistema's consolidated revenue grew by 20.1% YoY, to RUB 888.3bn (+12.9% YoY for Q3 2024, to RUB 313.3bn).
The Group's adjusted OIBDA¹ for 9M 2024 reached RUB 246.4bn, increasing by 12.6% YoY (+5.4% YoY for 3Q 2024, totalling RUB 84.3bn).
Consolidated net profit for 9M 2024 was RUB 1.8bn, while Q3 2024 recorded a loss of RUB 2.6bn due to higher interest expenses.
The Group's capital expenditures for 9M 2024 totalled RUB 130.7bn (RUB 48.3bn in Q3 2024).
The Corporate Centre's net financial liabilities² as of the end of Q3 2024 amounted to RUB 288.7bn.
Key events in Q3 2024 and after the reporting period:
The timber asset announced an additional share issue. If approved by shareholders, it is planned to raise up to RUB 101bn through a closed subscription at an offering price of RUB 1.8 per share. The proceeds will be used to repay the timber asset's debt.
As part of the redomiciliation process, the shareholders of the property development asset at an extraordinary meeting approved the establishment of the company's head office in a special administrative district on Oktyabrsky Island (the Kaliningrad region) within a period of up to 15 months.
The marketplace announced the convening of a general meeting at the end of December 2024 to consider redomiciliation from Cyprus to Russia.
For further information, please visit www.sistema.comor contact:
IR Service | Press Service |
Phone: +7 (495) 737 01 01 | Phone: +7 (495) 730 17 05 |
IR@sistema.ru | PR@sistema.ru |
Sistema PJSFC is a publicly traded Russian investment company with a diversified portfolio of assets. The company was founded in 1993. Its total assets as of 30 September 2024 totalled RUB 2.7tn. Sistema's ordinary shares are listed under the "AFKS" ticker on the Moscow Exchange. Website: www.sistema.com
- The Group's OIBDA for Q3 2024 and 9M 2024 was adjusted for a one-off profit from gainful acquisition of other assets, one-off effects from profit/loss of associated companies, and impairment of
financial and non-financial assets.
2 (2) The Corporate Centre's net financial liabilities are calculated on the basis of management accounts as borrowings less cash and cash equivalents and part of investments in financial assets at the Corporate Centre level.