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Revenue of AFK Sistema in the fourth quarter increased by 6.9%




MOSCOW, 8 Apr – PRIME. Revenue of AFK Sistema according to IFRS in the fourth quarter of 2020 increased by 6.9% – to 193.4 billion rubles, the company said. Adjusted net profit amounted to RUB 20.9 billion. Adjusted OIBDA increased by 6.1% year-on-year to RUB 56.2 billion. The profitability of this indicator was 29.1%. Operating profit in the fourth quarter increased threefold, to 22.6 billion rubles. Copper rises in price on macroeconomic optimism Last year, Sistema’s revenue amounted to 691.6 billion rubles, an increase of 5.7%. Adjusted net income decreased by 70% to RUB 16 billion. “The dynamics of the indicator year-on-year was influenced by the results of the sale of 100% of Leader Invest shares and its deconsolidation, the public offering of 18.3% of Detsky Mir shares, the deconsolidation and further reclassification of the remaining stake (33.4%) as an investment in an associate in 2019 “, – explains in the message. Adjusted OIBDA increased over the year by 5.5%, to 236.3 billion rubles, mainly against the background of an increase in the adjusted OIBDA of subsidiaries (MTS, Segezha Group, Step, Medsi” ). Capital expenditures increased by 8.6% year-on-year and amounted to 127.8 billion rubles. “There will be no foreign exchange market.” What awaits the ruble by the end of spring “Our key consolidated portfolio companies have overcome the challenges associated with the COVID-19 pandemic, have been able to quickly restructure their business models, adapting products and services to new realities, which is reflected in the strong dynamics of annual results,” he said. President of AFK Sistema Vladimir Chirakhov. In particular, MTS showed high growth rates both due to the growth of revenue in the main telecommunications segment and due to the strong dynamics of other segments. Agroholding Steppe demonstrated significant growth in financial performance against the backdrop of rising world grain prices and improved operating efficiency. Medsi increased its revenue and OIBDA, despite the negative impact of the restrictions on patient traffic in the first half of the year. AFK Sistema is an investment holding with assets in the field of telecommunications, electronics, power generation, retail, finance, medicine, pharmaceuticals and biotechnology. The main shareholder is Vladimir Yevtushenkov, who owns 59.2% of Sistema’s shares. His son Felix Yevtushenkov owns 5.1817%.

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