QIWI Shares Pop On Q3 Beat, Interim Dividend, Narrows FY21 Outlook

QIWI PLC QIWI reported a third-quarter FY21 total net revenue decline of 3.3% year-on-year to $88.2 million, beating the consensus of $84.9 million. Adjusted EPS of $0.60 beat the consensus of $0.47.

• PS Payment Net Revenue declined 8.4% Y/Y to $66.7 million. PS Other Net Revenue rose 24.1% Y/Y to $13.7 million.
• The adjusted EBITDA margin contracted 90 bps to 59.7%.
• QIWI held $515.1 million in cash and equivalents.
• Dividend: The board approved an interim dividend of $0.30 per share. The dividend record date is December 6, 2021, payable on December 8, 2021.
• Outlook: QIWI sees FY21 total net revenue to decrease by 10% - 15% Y/Y (prior view 10% - 20% decline Y/Y).
• It sees adjusted net profit to decrease by 10% - 15% Y/Y (prior view 15% - 30% decline Y/Y).
• Price Action: QIWI shares traded higher by 6.87% at $8.25 in the premarket session on the last check Tuesday.