QIWI raises outlook for earnings, net revenue in 2014
MOSCOW. Aug 7 (Interfax) - QIWI plc expects adjusted net profit to increase 36%-38% over 2013, the company said in a press release on its second quarter results.
The payment system operator expects net revenue to grow 30%-32% this year.
In a press release in May reporting its first quarter results, QIWI forecast that adjusted net profit would rise 27%-29% in 2014 and that adjusted net revenue would increase 24%-26%.
Net revenue increased 48% to 6.186 billion rubles in full-year 2013. Net profit totaled 2.174 billion rubles, 66% more than in 2012.
Qiwi Ltd. (formerly OE Investments Ltd.) manages the biggest payment system in Russia. The group includes LLC QIWI Wallet, LLC QIPS, QIWI Bank, and the QIWI payment service.
Qiwi's biggest shareholder is Saldivar Investments (with 23.35% of shares), the beneficiary of which is Sergei Solonin. Mail.ru Group has 5.28%, and Mitsui - 3.15%. Another 59.14% are currently publicly traded. The nominee shareholder is the Bank of New York Mellon.
