QIWI Plc (NASDAQ:QIWI) Q1 2019 Earnings Conference Call Transcript
May 16, 2019 • 08:30 am ET
Good day, everyone, and welcome to Qiwi First Quarter 2019 Earnings Conference Call. Today's conference is being recorded. At this time, I would like to turn the call over to Ms. Varvara Kiseleva, Interim acting CFO of QIWI. Please go ahead.
Thank you, operator. And good morning, everyone. Welcome to the QIWI first quarter 2019 earnings call. I am Varvara Kiseleva, Interim CFO. And with me today are Sergey Solonin, our Chief Executive Officer; and Alexander Karavaev, our Chief Financial Officer.
A replay of this call will be available until Thursday, April 4, 2019. Access information for the replay is listed in today's earnings press release, which is available on our Investor Relations website at investor.qiwi.com. For those listening to the replay, this call was held and recorded on May 16, 2019.
Before we begin, I would like to remind everyone that this call may contain forward-looking statements as they are defined under the Private Securities Litigation Reform Act of 1995. These forward-looking statements about our expectations for future performance are subject to known and unknown risks and uncertainties. Qiwi cautions that these statements are not guarantees of future performance.
All forward-looking statements made today, reflects our current expectations only, and we undertake no obligation to update any statements to reflect the events that occur after this call. Please refer to the Company's most recent annual report on Form 20-F filed with the Securities and Exchange Commission for factors that could cause our actual results to differ materially from any forward-looking statements.
During today's call, management will provide certain information that will consist of non-IFRS financial measures such as adjusted net revenue, adjusted EBITDA, adjusted net profit and adjusted net profit per share. Reconciliations to IFRS measures and certain additional information are also included in today's earnings press release.
With that, we will begin by turning the call over to Sergey Solonin, our Chief Executive Officer.
Thank you, Varvara, and good morning, everyone. Thanks for joining us today. I'm glad to share our first quarter results with you today. This quarter, we demonstrated continued solid performance of our operating service business, delivered 32% segment net revenue and 35% segment net profit growth, setting up a strong start of the year. Our growth was driven by robust performance of our key areas in services for betting-related merchants, digital money remittances and projects we developed for self-employed and B2B B2C customers as well as by a general expansion of our payment ecosystem. Glad to acknowledge that the continued strong performance of payment service business provides stable foundation for future growth. We'll continue to enhance our key products and use case and develop new projects in order to offer clients in our key markets larger suit of more convenient solutions and services. This quarter, we'll continue to invest in the development of our ecosystem, mostly our retail focused financial services projects, SOVEST Rocketbank, while which Tochka project was transferred to the new entity JCS Tochka, as we have announced earlier. I will walk you