Enhanced Investments - Financial Portal

2024-04-18

#ROLO #reports

Rusolovo reported for 2023 H2:
- Revenue +71.5% YoY (vs -32.7% in previous half-year and historical rate +46.9%)
- EBITDA margin 6.6% increased compared to -38.0% same period last year
- Net Debt increased by 3.0 bln rubles over the past reporting period (8.1% of market cap)
- FCF (LTM) -3.5 bln RUB (negative), 9.4% of market cap

Growth potential decreased by 8.6% to -82.1%

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2024-04-18

#RENI #reports

Renessans reported for 2023 q4:
- Revenue +35.8% YoY (vs +35.8% in previous quarter and historical rate +14.2%)
- Net Income -39.3% YoY (vs -39.3% in previous quarter and historical rate +54.3%)
- Net Income 4.9% decreased compared to 10.9% same period last year
- P/E multiple is 5.7x compared to historical level (50th percentile) of 4.7x

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2024-04-17

#RENI #reports

Renessans reported for 2023 H2:
- Revenue +25.5% YoY (vs +54.7% in previous half-year and historical rate +14.2%)
- Net Income -53.0% YoY (vs -53.0% in previous half-year and historical rate +54.3%)
- Net Income 4.9% decreased compared to 13.0% same period last year
- P/E multiple is 5.7x compared to historical level (50th percentile) of 4.7x

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2024-04-16

#NLMK #reports

NLMK reported for 2023 q4:
- Revenue -11.0% YoY (vs -19.1% in previous quarter and historical rate +20.4%)
- EBITDA -8.5% YoY (vs -24.9% in previous quarter and historical rate +34.6%)
- EBITDA margin 29.2% increased compared to 28.4% same period last year
- Net Debt decreased by 91.9 bln rubles over the past reporting period (6.7% of market cap)
- FCF (LTM) +257.6 bln RUB (positive), 18.8% of market cap
- EV/EBITDA multiple is 4.3x compared to historical level (50th percentile) of 5.1x

Growth potential increased by 3.4% to -31.7%

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2024-04-15

#SELG #reports

Seligdar reported for 2023 q4:
- Revenue +34.2% YoY (vs +77.4% in previous quarter and historical rate +25.0%)
- EBITDA +4.0% YoY (vs +436.9% in previous quarter and historical rate +14.0%)
- EBITDA margin 21.3% decreased compared to 27.5% same period last year
- Net Debt decreased by 10.0 bln rubles over the past reporting period (11.9% of market cap)
- FCF (LTM) +5.3 bln RUB (positive), 6.2% of market cap
- EV/EBITDA multiple is 8.3x compared to historical level (50th percentile) of 6.0x

Growth potential decreased by 55.4% to +1.2%

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2024-04-10

#POSI #reports

Positive Technologies reported for 2023 q4:
- Revenue +104.7% YoY (vs +4.8% in previous quarter and historical rate +56.9%)
- EBITDA +134.1% YoY (vs -48.0% in previous quarter and historical rate +36.8%)
- EBITDA margin 71.2% increased compared to 62.3% same period last year
- Net Debt increased by 1.1 bln rubles over the past reporting period (0.6% of market cap)
- FCF (LTM) +1.5 bln RUB (positive), 0.8% of market cap
- EV/EBITDA multiple is 17.2x compared to historical level (50th percentile) of 22.3x

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2024-04-10

#MRKZ #reports

IDGC North West reported for 2023 q4:
- Revenue -100.0% YoY (vs -74.0% in previous quarter and historical rate -17.5%)
- EBITDA -100.0% YoY (vs -79.3% in previous quarter and historical rate -19.0%)
- EBITDA margin 0.0% decreased compared to 3.8% same period last year
- Net Debt decreased by 0.9 bln rubles over the past reporting period (9.0% of market cap)
- FCF (LTM) +3.5 bln RUB (positive), 35.9% of market cap
- EV/EBITDA multiple is 27.6x compared to historical level (50th percentile) of 5.0x

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2024-04-10

#MRKC #reports

IDGC Center reported for 2023 q4:
- Revenue +119.6% YoY (vs +319.7% in previous quarter and historical rate +39.1%)
- EBITDA +138.1% YoY (vs +131.5% in previous quarter and historical rate +47.6%)
- EBITDA margin 37.8% increased compared to 34.9% same period last year
- Net Debt decreased by 1.4 bln rubles over the past reporting period (5.4% of market cap)
- FCF (LTM) +5.3 bln RUB (positive), 21.0% of market cap
- EV/EBITDA multiple is 1.8x compared to historical level (50th percentile) of 3.3x

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2024-04-10

#ELFV #reports

EL5-Energo reported for 2023 q4:
- Revenue +17.1% YoY (vs +30.8% in previous quarter and historical rate +12.0%)
- EBITDA margin 16.8% increased compared to -98.1% same period last year
- Net Debt decreased by 26.7 bln rubles over the past reporting period (120.3% of market cap)
- FCF (LTM) +27.2 bln RUB (positive), 122.3% of market cap

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2024-04-09

#NMTP #reports

NMTP reported for 2023 q4:
- Revenue +0.2% YoY (vs +5.9% in previous quarter and historical rate +15.0%)
- EBITDA -39.5% YoY (vs -34.2% in previous quarter and historical rate +18.6%)
- EBITDA margin 47.2% decreased compared to 78.1% same period last year
- Net Debt decreased by 0.1 bln rubles over the past reporting period (0.0% of market cap)
- FCF (LTM) +14.6 bln RUB (positive), 5.9% of market cap
- EV/EBITDA multiple is 5.7x compared to historical level (50th percentile) of 5.0x

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2024-04-09

#MRKS #reports

IDGC Siberia reported for 2023 q4:
- Revenue +72.9% YoY (vs +3.4% in previous quarter and historical rate +7.2%)
- EBITDA margin 13.4% increased compared to -3.3% same period last year
- Net Debt decreased by 46.8 bln rubles over the past reporting period (60.4% of market cap)
- FCF (LTM) +46.8 bln RUB (positive), 60.4% of market cap

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2024-04-09

#MRKP #reports

IDGC Center & Volga reported for 2023 q4:
- Revenue +16.4% YoY (vs +14.8% in previous quarter and historical rate +11.2%)
- EBITDA +4.7% YoY (vs +62.1% in previous quarter and historical rate +22.4%)
- EBITDA margin 18.4% decreased compared to 20.4% same period last year
- Net Debt increased by 0.3 bln rubles over the past reporting period (0.7% of market cap)
- FCF (LTM) +4.8 bln RUB (positive), 11.9% of market cap
- EV/EBITDA multiple is 1.7x compared to historical level (50th percentile) of 2.0x

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2024-04-09

#FEES #reports

FGC UES reported for 2023 q4:
- Revenue +16.7% YoY (vs +16.7% in previous quarter and historical rate +73.8%)
- EBITDA +15.6% YoY (vs +15.6% in previous quarter and historical rate +69.5%)
- EBITDA margin 27.9% decreased compared to 28.1% same period last year
- Net Debt decreased by 40.6 bln rubles over the past reporting period (15.5% of market cap)
- FCF (LTM) +160.1 bln RUB (positive), 61.0% of market cap
- EV/EBITDA multiple is 2.7x compared to historical level (50th percentile) of 3.2x

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2024-04-09

#AFKS #reports

Sistema reported for 2023 q4:
- Revenue +17.2% YoY (vs +17.1% in previous quarter and historical rate +14.7%)
- EBITDA -57.7% YoY (vs +6.8% in previous quarter and historical rate +6.1%)
- EBITDA margin 11.3% decreased compared to 31.4% same period last year
- Net Debt increased by 65.3 bln rubles over the past reporting period (28.3% of market cap)
- FCF (LTM) -160.4 bln RUB (negative), 69.5% of market cap
- EV/EBITDA multiple is 6.3x compared to historical level (50th percentile) of 5.1x

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2024-04-08

#KMAZ #reports

Kamaz reported for 2023 H2:
- Revenue +31.4% YoY (vs +16.8% in previous half-year and historical rate +21.5%)
- EBITDA -21.8% YoY (vs +39.0% in previous half-year and historical rate +32.8%)
- EBITDA margin 6.8% decreased compared to 11.4% same period last year
- EV/EBITDA multiple is 6.3x compared to historical level (50th percentile) of 7.1x

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2024-04-08

#GLTR #reports

Globaltrans reported for 2023 H2:
- Revenue +14.6% YoY (vs +7.3% in previous half-year and historical rate +16.7%)
- EBITDA +11.7% YoY (vs +38.0% in previous half-year and historical rate +36.9%)
- EBITDA margin 45.9% decreased compared to 47.1% same period last year
- EV/EBITDA multiple is 2.3x compared to historical level (50th percentile) of 2.3x

Growth potential decreased by 9.7% to +2.5%

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2024-04-05

#ZAYM #reports

Zaymer reported for 2023 H2:
- Revenue -12.8% YoY (vs -12.8% in previous half-year and historical rate +36.4%)
- Net Income +5.8% YoY (vs +5.8% in previous half-year and historical rate +61.2%)
- Net Income 33.4% increased compared to 27.5% same period last year
- P/E multiple is 4.4x compared to historical level (50th percentile) of 0.0x

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2024-04-05

#MTSB #reports

MTS Bank reported for 2023 H2:
- Revenue +41.3% YoY (vs +41.3% in previous half-year and historical rate +41.0%)
- Net Income +278.7% YoY (vs +278.7% in previous half-year and historical rate +88.5%)
- Net Income 20.6% increased compared to 7.7% same period last year
- P/E multiple is 4.6x compared to historical level (50th percentile) of 0.0x

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2024-04-05

#KAZT #reports

KuybyshevAzot PAO reported for 2023 H2:
- Revenue -68.1% YoY (vs -29.1% in previous half-year and historical rate +10.8%)
- EBITDA +18582.1% YoY (vs -53.5% in previous half-year and historical rate +97.4%)
- EBITDA margin 23062.3% increased compared to 39.3% same period last year
- Net Debt increased by 3767.4 bln rubles over the past reporting period (3243.5% of market cap)
- FCF (LTM) -3763.4 bln RUB (negative), 3240.0% of market cap
- EV/EBITDA multiple is 1.1x compared to historical level (50th percentile) of 3.2x

Growth potential increased by 5024.0% to +5011.9%

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2024-04-04

#DELI #reports

Delimobil reported for 2023 H2:
- Revenue +48.2% YoY (vs +24.2% in previous half-year and historical rate +31.4%)
- EBITDA +58.3% YoY (vs +103.9% in previous half-year and historical rate +63.3%)
- EBITDA margin 30.6% increased compared to 28.7% same period last year
- Net Debt increased by 5.4 bln rubles over the past reporting period (9.7% of market cap)
- FCF (LTM) -7.6 bln RUB (negative), 13.5% of market cap
- EV/EBITDA multiple is 12.5x compared to historical level (50th percentile) of 13.0x

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2024-04-03

#RNFT #reports

Russneft reported for 2023 H2:
- Revenue +33.0% YoY (vs -49.1% in previous half-year and historical rate +35.1%)
- EBITDA +757.5% YoY (vs -84.3% in previous half-year and historical rate +79.0%)
- EBITDA margin 22.8% increased compared to 3.5% same period last year
- Net Debt decreased by 19.0 bln rubles over the past reporting period (27.2% of market cap)
- FCF (LTM) +22.6 bln RUB (positive), 32.4% of market cap
- EV/EBITDA multiple is 3.6x compared to historical level (50th percentile) of 2.7x

According to our model the company`s growth potential is 920.4%

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2024-04-02

#ASTR #reports

Astra reported for 2023 H2:
- Revenue +46.6% YoY (vs +208.2% in previous half-year and historical rate +136.6%)
- EBITDA +20.0% YoY (vs +236.2% in previous half-year and historical rate +129.5%)
- EBITDA margin 49.5% decreased compared to 60.5% same period last year
- EV/EBITDA multiple is 32.9x compared to historical level (50th percentile) of 27.7x

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2024-04-01

#MDMG #reports

MD Medical reported for 2023 H2:
- Revenue +13.1% YoY (vs +5.7% in previous half-year and historical rate +14.7%)
- EBITDA +15.9% YoY (vs +15.2% in previous half-year and historical rate +18.2%)
- EBITDA margin 34.2% increased compared to 33.4% same period last year
- Net Debt decreased by 18731.8 bln rubles over the past reporting period (24467.6% of market cap)
- FCF (LTM) +18734.0 bln RUB (positive), 24470.5% of market cap
- EV/EBITDA multiple is -2037.2x compared to historical level (50th percentile) of 5.8x

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2024-03-29

#AKRN #reports

Acron reported for 2023 q4:
- Revenue -18.1% YoY (vs -14.7% in previous quarter and historical rate +24.2%)
- EBITDA -74.7% YoY (vs +2.6% in previous quarter and historical rate +64.1%)
- EBITDA margin 19.1% decreased compared to 61.9% same period last year
- Net Debt decreased by 8.4 bln rubles over the past reporting period (1.2% of market cap)
- FCF (LTM) +11.2 bln RUB (positive), 1.6% of market cap
- EV/EBITDA multiple is 8.9x compared to historical level (50th percentile) of 10.7x

Growth potential decreased by 6.9% to +11.3%

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2024-03-29

#OZON #reports

OZON reported for 2023 q4:
- Revenue +62.9% YoY (vs +77.5% in previous quarter and historical rate +63.9%)
- EBITDA +27.7% YoY (vs -596300.0% in previous quarter and historical rate +35.6%)
- EBITDA margin 1.5% decreased compared to 2.0% same period last year
- Net Debt increased by 8.9 bln rubles over the past reporting period (1.1% of market cap)
- FCF (LTM) -15.5 bln RUB (negative), 2.0% of market cap
- EV/EBITDA multiple is 874102.8x compared to historical level (50th percentile) of 0.0x

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2024-03-27

#WUSH #reports

Whoosh reported for 2023 H2:
- Revenue +72.2% YoY (vs +62.4% in previous half-year and historical rate +107.1%)
- EBITDA +28.7% YoY (vs +45.3% in previous half-year and historical rate +88.0%)
- EBITDA margin 38.5% decreased compared to 51.5% same period last year
- Net Debt increased by 3.8 bln rubles over the past reporting period (11.6% of market cap)
- FCF (LTM) -3.8 bln RUB (negative), 11.4% of market cap
- EV/EBITDA multiple is 9.4x compared to historical level (50th percentile) of 7.8x

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2024-03-25

#LEAS #reports

Europlan reported for 2023 H2:
- Revenue +28.6% YoY (vs +26.2% in previous half-year and historical rate +32.8%)
- Net Income +22.5% YoY (vs +26.7% in previous half-year and historical rate +35.5%)
- Net Income 47.2% decreased compared to 49.6% same period last year
- P/E multiple is 7.1x compared to historical level (50th percentile) of 0.0x

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2024-03-25

#ETLN #reports

Etalon reported for 2023 H2:
- Revenue +17.2% YoY (vs +0.1% in previous half-year and historical rate +4.8%)
- EBITDA -1.0% YoY (vs -13.2% in previous half-year and historical rate +21.3%)
- EBITDA margin 14.0% decreased compared to 16.6% same period last year
- Net Debt increased by 33.7 bln rubles over the past reporting period (94.7% of market cap)
- FCF (LTM) -42.4 bln RUB (negative), 119.3% of market cap
- EV/EBITDA multiple is 12.2x compared to historical level (50th percentile) of 6.9x

Growth potential decreased by 30.8% to -122.5%

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2024-03-22

#VKCO #reports

VK company reported for 2023 q4:
- Revenue +21.1% YoY (vs +56.6% in previous quarter and historical rate +11.8%)
- EBITDA -149.8% YoY (vs -117.3% in previous quarter and historical rate -17.7%)
- EBITDA margin -4.5% decreased compared to 10.9% same period last year
- Net Debt increased by 11.7 bln rubles over the past reporting period (8.2% of market cap)
- FCF (LTM) -39.7 bln RUB (negative), 27.9% of market cap
- EV/EBITDA multiple is 538.9x compared to historical level (50th percentile) of 12.3x

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2024-03-22

#SGZH #reports

Segezha Group reported for 2023 q4:
- Revenue +27.8% YoY (vs -0.5% in previous quarter and historical rate +13.4%)
- EBITDA -48.2% YoY (vs +15.1% in previous quarter and historical rate +9.6%)
- EBITDA margin 9.2% decreased compared to 22.7% same period last year
- Net Debt decreased by 0.5 bln rubles over the past reporting period (0.9% of market cap)
- FCF (LTM) -16.0 bln RUB (negative), 26.9% of market cap
- EV/EBITDA multiple is 21.6x compared to historical level (50th percentile) of 16.6x

Growth potential decreased by 169.7% to -167.9%

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2024-03-21

#TRNFP #reports

Transneft (pref) reported for 2023 q4:
- Revenue +12.9% YoY (vs +13.5% in previous quarter and historical rate +11.7%)
- EBITDA -9.1% YoY (vs +0.5% in previous quarter and historical rate +8.5%)
- EBITDA margin 36.2% decreased compared to 44.9% same period last year
- Net Debt decreased by 83.5 bln rubles over the past reporting period (7.1% of market cap)
- FCF (LTM) +220.4 bln RUB (positive), 18.8% of market cap
- EV/EBITDA multiple is 2.6x compared to historical level (50th percentile) of 3.3x

Growth potential changed insignificantly and equals +2.3%

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2024-03-21

#LENT #reports

Lenta reported for 2023 q4:
- Revenue +50.4% YoY (vs +7.3% in previous quarter and historical rate +11.2%)
- EBITDA +84.7% YoY (vs -6.7% in previous quarter and historical rate -7.0%)
- EBITDA margin 8.0% increased compared to 6.5% same period last year
- Net Debt increased by 46.0 bln rubles over the past reporting period (52.4% of market cap)
- FCF (LTM) -43.3 bln RUB (negative), 49.3% of market cap
- EV/EBITDA multiple is 5.5x compared to historical level (50th percentile) of 4.6x

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2024-03-21

#ENPG #reports

En+ Group reported for 2023 H2:
- Revenue +257.1% YoY (vs -12.5% in previous half-year and historical rate +35.7%)
- EBITDA margin 10.2% increased compared to -14.5% same period last year
- Net Debt increased by 136.0 bln rubles over the past reporting period (49.0% of market cap)
- FCF (LTM) -256.9 bln RUB (negative), 92.6% of market cap

Growth potential increased by 401.2% to -322.4%

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2024-03-20

#FIVE #reports

X5 Retail Group reported for 2023 q4:
- Revenue +22.9% YoY (vs +19.2% in previous quarter and historical rate +15.7%)
- EBITDA +29.0% YoY (vs -1.0% in previous quarter and historical rate +11.9%)
- EBITDA margin 7.7% increased compared to 7.3% same period last year
- Net Debt decreased by 37.0 bln rubles over the past reporting period (4.9% of market cap)
- FCF (LTM) +4.7 bln RUB (positive), 0.6% of market cap
- EV/EBITDA multiple is 4.7x compared to historical level (50th percentile) of 4.1x

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2024-03-20

#FLOT #reports

SCF Group reported for 2023 q4:
- Revenue +68.0% YoY (vs +62.3% in previous quarter and historical rate +32.2%)
- EBITDA +66.3% YoY (vs +103.6% in previous quarter and historical rate +40.3%)
- EBITDA margin 59.7% decreased compared to 60.3% same period last year
- Net Debt decreased by 27.9 bln rubles over the past reporting period (8.9% of market cap)
- FCF (LTM) +40.0 bln RUB (positive), 12.8% of market cap
- EV/EBITDA multiple is 2.6x compared to historical level (50th percentile) of 3.4x

Growth potential increased by 1.4% to +28.3%

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2024-03-20

#AQUA #reports

RUS AQUA reported for 2023 H2:
- Revenue +69.4% YoY (vs -9.8% in previous half-year and historical rate +59.0%)
- EBITDA +40.1% YoY (vs -23.7% in previous half-year and historical rate +73.2%)
- EBITDA margin 42.3% decreased compared to 51.1% same period last year
- Net Debt increased by 1.2 bln rubles over the past reporting period (1.6% of market cap)
- FCF (LTM) +3.5 bln RUB (positive), 4.5% of market cap
- EV/EBITDA multiple is 7.2x compared to historical level (50th percentile) of 7.5x

Growth potential decreased by 3.3% to +7.4%

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2024-03-18

#MRKY #reports

IDGC South reported for 2023 q4:
- Revenue -99.3% YoY (vs +16.9% in previous quarter and historical rate +0.3%)
- EBITDA -32.9% YoY (vs +211.6% in previous quarter and historical rate +63.8%)
- EBITDA margin 980.0% increased compared to 10.4% same period last year
- Net Debt decreased by 0.6 bln rubles over the past reporting period (8.1% of market cap)
- FCF (LTM) +2.1 bln RUB (positive), 26.9% of market cap
- EV/EBITDA multiple is 0.0x compared to historical level (50th percentile) of 0.0x

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2024-03-18

#MRKU #reports

IDGC Ural reported for 2023 q4:
- Revenue +2652500.0% YoY (vs +335.8% in previous quarter and historical rate +8.1%)
- EBITDA margin 13.7% increased compared to 0.0% same period last year
- Net Debt increased by 0.0 bln rubles over the past reporting period (0.1% of market cap)
- FCF (LTM) -0.2 bln RUB (negative), 0.7% of market cap

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2024-03-15

#LSRG #reports

LSR Group reported for 2023 H2:
- Revenue +117.2% YoY (vs +14.4% in previous half-year and historical rate +28.5%)
- EBITDA +168.7% YoY (vs -20.9% in previous half-year and historical rate +44.0%)
- EBITDA margin 31.4% increased compared to 25.4% same period last year
- Net Debt decreased by 22.4 bln rubles over the past reporting period (23.6% of market cap)
- FCF (LTM) +20.7 bln RUB (positive), 21.8% of market cap
- EV/EBITDA multiple is 4.3x compared to historical level (50th percentile) of 5.3x

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2024-03-15

#TATN #reports

Tatneft reported for 2023 q4:
- Revenue +35.3% YoY (vs +28.3% in previous quarter and historical rate +36.0%)
- EBITDA +1.8% YoY (vs +18.6% in previous quarter and historical rate +38.5%)
- EBITDA margin 23.8% decreased compared to 31.5% same period last year
- Net Debt increased by 22.6 bln rubles over the past reporting period (1.3% of market cap)
- FCF (LTM) +37.1 bln RUB (positive), 2.2% of market cap
- EV/EBITDA multiple is 4.0x compared to historical level (50th percentile) of 3.2x

Growth potential decreased by 21.1% to -13.1%

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2024-03-15

#RUAL #reports

Rusal reported for 2023 H2:
- Revenue +64.5% YoY (vs -16.2% in previous half-year and historical rate +25.8%)
- EBITDA +572.7% YoY (vs -83.8% in previous half-year and historical rate +40.2%)
- EBITDA margin 13.2% increased compared to 3.2% same period last year
- Net Debt decreased by 577.6 bln rubles over the past reporting period (110.6% of market cap)
- FCF (LTM) +472.9 bln RUB (positive), 90.6% of market cap
- EV/EBITDA multiple is 4.3x compared to historical level (50th percentile) of 7.3x

Growth potential increased by 108.3% to +48.5%

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2024-03-14

#SIBN #reports

Gazprom Neft reported for 2023 q4:
- Revenue +9.6% YoY (vs +7.8% in previous quarter and historical rate +22.8%)
- EBITDA +16.4% YoY (vs +18.5% in previous quarter and historical rate +53.4%)
- EBITDA margin 31.0% increased compared to 29.1% same period last year
- Net Debt decreased by 105.6 bln rubles over the past reporting period (2.8% of market cap)
- FCF (LTM) +78.5 bln RUB (positive), 2.0% of market cap
- EV/EBITDA multiple is 4.0x compared to historical level (50th percentile) of 4.5x

Growth potential decreased by 5.7% to +55.0%

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2024-03-14

#TCSG #reports

Tinkoff reported for 2023 q4:
- Revenue +55.0% YoY (vs +53.1% in previous quarter and historical rate +26.9%)
- Net Income +102.9% YoY (vs +289.3% in previous quarter and historical rate +50.9%)
- Net Income 19.7% increased compared to 15.0% same period last year
- P/E multiple is 7.5x compared to historical level (50th percentile) of 18.6x

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2024-03-14

#BELU #reports

Beluga reported for 2023 q4:
- Revenue +26.8% YoY (vs +22.2% in previous quarter and historical rate +23.3%)
- EBITDA +22.6% YoY (vs +7.5% in previous quarter and historical rate +31.0%)
- EBITDA margin 16.7% decreased compared to 17.3% same period last year
- Net Debt decreased by 2.2 bln rubles over the past reporting period (3.2% of market cap)
- FCF (LTM) -4.2 bln RUB (negative), 6.4% of market cap
- EV/EBITDA multiple is 5.1x compared to historical level (50th percentile) of 4.6x

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2024-03-12

#RENI #reports

Renessans reported for 2023 H2:
- Revenue +35.8% YoY (vs -3.9% in previous half-year and historical rate +14.2%)
- Net Income -39.8% YoY (vs +82.6% in previous half-year and historical rate +54.2%)
- Net Income 4.8% decreased compared to 10.9% same period last year
- P/E multiple is 5.6x compared to historical level (50th percentile) of 4.6x

------------------------------------------------

2024-03-12

#LKOH #reports

Lukoil reported for 2023 q4:
- Revenue +3.2% YoY (vs -4.5% in previous quarter and historical rate +20.7%)
- EBITDA +28.4% YoY (vs +31.9% in previous quarter and historical rate +57.3%)
- EBITDA margin 26.3% increased compared to 21.1% same period last year
- Net Debt decreased by 99.9 bln rubles over the past reporting period (1.9% of market cap)
- FCF (LTM) +1051.7 bln RUB (positive), 20.1% of market cap
- EV/EBITDA multiple is 2.2x compared to historical level (50th percentile) of 3.9x

Growth potential decreased by 6.8% to +87.1%

------------------------------------------------

2024-03-12

#MVID #reports

M Video reported for 2023 H2:
- Revenue +39.0% YoY (vs -18.1% in previous half-year and historical rate +4.0%)
- EBITDA +90.5% YoY (vs +5.8% in previous half-year and historical rate +21.0%)
- EBITDA margin 5.5% increased compared to 4.0% same period last year
- Net Debt decreased by 15.6 bln rubles over the past reporting period (40.8% of market cap)
- FCF (LTM) -2.3 bln RUB (negative), 6.0% of market cap
- EV/EBITDA multiple is 4.9x compared to historical level (50th percentile) of 8.5x

------------------------------------------------

2024-03-12

#AFLT #reports

Aeroflot reported for 2023 q4:
- Revenue +25.5% YoY (vs +40.4% in previous quarter and historical rate +41.3%)
- EBITDA +220.8% YoY (vs +173.1% in previous quarter and historical rate +98.1%)
- EBITDA margin 58.8% increased compared to 23.0% same period last year
- Net Debt increased by 5.4 bln rubles over the past reporting period (5.6% of market cap)
- FCF (LTM) -35.2 bln RUB (negative), 36.2% of market cap
- EV/EBITDA multiple is 2.9x compared to historical level (50th percentile) of 7.1x

------------------------------------------------

2024-03-07

#HYDR #reports

Rushydro reported for 2023 q4:
- Revenue +10.0% YoY (vs +21.9% in previous quarter and historical rate +9.3%)
- EBITDA margin 20.8% increased compared to -0.8% same period last year
- Net Debt increased by 33.0 bln rubles over the past reporting period (9.6% of market cap)
- FCF (LTM) -125.3 bln RUB (negative), 36.4% of market cap

------------------------------------------------

2024-03-07

#HHRU #reports

Head Hunter reported for 2023 q4:
- Revenue +72.0% YoY (vs +76.4% in previous quarter and historical rate +58.7%)
- EBITDA +149.5% YoY (vs +109.0% in previous quarter and historical rate +83.9%)
- EBITDA margin 69.9% increased compared to 48.2% same period last year
- Net Debt decreased by 5.4 bln rubles over the past reporting period (3.0% of market cap)
- FCF (LTM) +17.4 bln RUB (positive), 9.6% of market cap
- EV/EBITDA multiple is 9.2x compared to historical level (50th percentile) of 11.1x

------------------------------------------------

2024-03-06

#TRMK #reports

TMK (pipe) reported for 2023 q4:
- Revenue -19.2% YoY (vs -19.2% in previous quarter and historical rate +45.5%)
- EBITDA -34.3% YoY (vs -34.3% in previous quarter and historical rate +76.4%)
- EBITDA margin 19.2% decreased compared to 23.6% same period last year
- Net Debt decreased by 2.6 bln rubles over the past reporting period (1.2% of market cap)
- FCF (LTM) +18.1 bln RUB (positive), 8.2% of market cap
- EV/EBITDA multiple is 3.7x compared to historical level (50th percentile) of 4.0x

Growth potential decreased by 8.3% to -56.9%

------------------------------------------------

2024-03-06

#AGRO #reports

Rusagro reported for 2023 q4:
- Revenue +70.3% YoY (vs +30.8% in previous quarter and historical rate +22.5%)
- EBITDA +168.8% YoY (vs +188.4% in previous quarter and historical rate +39.1%)
- EBITDA margin 26.2% increased compared to 16.6% same period last year
- Net Debt increased by 1.3 bln rubles over the past reporting period (0.7% of market cap)
- FCF (LTM) +33.2 bln RUB (positive), 17.6% of market cap
- EV/EBITDA multiple is 4.5x compared to historical level (50th percentile) of 5.2x

Growth potential increased by 65.0% to -53.3%

------------------------------------------------

2024-03-05

#MTSS #reports

MTS reported for 2023 q4:
- Revenue +18.0% YoY (vs +16.0% in previous quarter and historical rate +7.2%)
- EBITDA +1.6% YoY (vs -0.1% in previous quarter and historical rate +0.2%)
- EBITDA margin 28.3% decreased compared to 32.9% same period last year
- Net Debt increased by 3.1 bln rubles over the past reporting period (0.6% of market cap)
- FCF (LTM) -9.9 bln RUB (negative), 2.0% of market cap
- EV/EBITDA multiple is 4.5x compared to historical level (50th percentile) of 4.6x

------------------------------------------------

2024-03-02

#UPRO #reports

Unipro reported for 2023 H2:
- Revenue +10.9% YoY (vs +13.5% in previous half-year and historical rate +16.4%)
- EBITDA -71.2% YoY (vs +1662.3% in previous half-year and historical rate +32.4%)
- EBITDA margin 15.0% decreased compared to 57.9% same period last year
- Net Debt decreased by 6.8 bln rubles over the past reporting period (4.9% of market cap)
- FCF (LTM) +23.6 bln RUB (positive), 17.0% of market cap
- EV/EBITDA multiple is 2.8x compared to historical level (50th percentile) of 6.0x

------------------------------------------------

2024-03-01

#RASP #reports

Raspadskaya reported for 2023 H2:
- Revenue +31.6% YoY (vs -24.5% in previous half-year and historical rate +73.3%)
- EBITDA +49.3% YoY (vs -51.8% in previous half-year and historical rate +83.0%)
- EBITDA margin 26.2% increased compared to 23.1% same period last year
- Net Debt decreased by 0.6 bln rubles over the past reporting period (0.2% of market cap)
- FCF (LTM) +1.8 bln RUB (positive), 0.7% of market cap
- EV/EBITDA multiple is 3.7x compared to historical level (50th percentile) of 3.8x

Growth potential increased by 6.9% to +0.9%

------------------------------------------------

2024-02-29

#PLZL #reports

Polyus reported for 2023 q4:
- Revenue +91.3% YoY (vs +91.3% in previous quarter and historical rate +15.1%)
- EBITDA +172.6% YoY (vs +172.6% in previous quarter and historical rate +24.8%)
- EBITDA margin 68.0% increased compared to 47.7% same period last year
- Net Debt increased by 494.7 bln rubles over the past reporting period (33.7% of market cap)
- FCF (LTM) +80.6 bln RUB (positive), 5.5% of market cap
- EV/EBITDA multiple is 6.7x compared to historical level (50th percentile) of 8.7x

Growth potential decreased by 26.1% to +42.7%

------------------------------------------------

2024-02-29

#IRAO #reports

Inter RAO reported for 2023 q4:
- Revenue -49.1% YoY (vs -43.7% in previous quarter and historical rate -17.7%)
- EBITDA +0.8% YoY (vs +0.8% in previous quarter and historical rate +17.1%)
- EBITDA margin 43.2% increased compared to 21.8% same period last year
- EV/EBITDA multiple is 0.8x compared to historical level (50th percentile) of 1.1x

------------------------------------------------

2024-02-29

#FIXP #reports

Fix Price reported for 2023 H2:
- Revenue +7.1% YoY (vs +3.0% in previous half-year and historical rate +15.9%)
- EBITDA +1.5% YoY (vs -15.8% in previous half-year and historical rate +13.3%)
- EBITDA margin 14.6% decreased compared to 15.4% same period last year
- Net Debt decreased by 12.8 bln rubles over the past reporting period (4.9% of market cap)
- FCF (LTM) +21.0 bln RUB (positive), 8.0% of market cap
- EV/EBITDA multiple is 6.0x compared to historical level (50th percentile) of 8.1x

------------------------------------------------

2024-02-29

#SBER #reports

Sberbank reported for 2023 q4:
- Revenue +36.2% YoY (vs +23.4% in previous quarter and historical rate +16.4%)
- Net Income +423.0% YoY (vs +498.2% in previous quarter and historical rate +66.7%)
- Net Income 33.4% increased compared to 8.7% same period last year
- P/E multiple is 4.4x compared to historical level (50th percentile) of 6.6x

------------------------------------------------

2024-02-28

#ALRS #reports

Alrosa reported for 2023 q4:
- Revenue -15.9% YoY (vs -15.9% in previous quarter and historical rate +21.7%)
- EBITDA +1.3% YoY (vs +1.3% in previous quarter and historical rate +24.5%)
- EBITDA margin 37.2% increased compared to 30.9% same period last year
- Net Debt increased by 55.1 bln rubles over the past reporting period (10.5% of market cap)
- FCF (LTM) -61.5 bln RUB (negative), 11.7% of market cap
- EV/EBITDA multiple is 4.6x compared to historical level (50th percentile) of 4.3x

Growth potential decreased by 48.1% to -54.9%

------------------------------------------------

2024-02-27

#RTKM #reports

Rostelecom reported for 2023 q4:
- Revenue +31.8% YoY (vs +11.8% in previous quarter and historical rate +9.4%)
- EBITDA +12.5% YoY (vs +15.5% in previous quarter and historical rate +13.9%)
- EBITDA margin 34.6% decreased compared to 40.5% same period last year
- EV/EBITDA multiple is 2.7x compared to historical level (50th percentile) of 4.1x

------------------------------------------------

2024-02-27

#HNFG #reports

Henderson reported for 2023 H2:
- Revenue +37.2% YoY (vs +32.0% in previous half-year and historical rate +32.6%)
- EBITDA +37.7% YoY (vs +56.8% in previous half-year and historical rate +89.9%)
- EBITDA margin 31.0% increased compared to 30.9% same period last year
- Net Debt decreased by 0.5 bln rubles over the past reporting period (1.8% of market cap)
- FCF (LTM) +0.9 bln RUB (positive), 3.2% of market cap
- EV/EBITDA multiple is 5.4x compared to historical level (50th percentile) of 5.6x

------------------------------------------------

2024-02-26

#MOEX #reports

MOEX reported for 2023 q4:
- Revenue +72.8% YoY (vs +65.7% in previous quarter and historical rate +30.3%)
- Net Income +79.0% YoY (vs +63.9% in previous quarter and historical rate +35.8%)
- Net Income 57.4% increased compared to 55.4% same period last year
- P/E multiple is 7.4x compared to historical level (50th percentile) of 8.1x

------------------------------------------------

2024-02-21

#VTBR #reports

Bank VTB PAO reported for 2023 q4:
- Revenue +92.3% YoY (vs +95.1% in previous quarter and historical rate +18.7%)
- Net Income 18.3% increased compared to -104.0% same period last year

------------------------------------------------

2024-02-21

#MTLR #reports

Mechel reported for 2023 q4:
- Revenue -4.8% YoY (vs -4.8% in previous quarter and historical rate +19.9%)
- EBITDA -22.3% YoY (vs -22.3% in previous quarter and historical rate +49.0%)
- EBITDA margin 20.8% decreased compared to 25.5% same period last year
- Net Debt decreased by 6.5 bln rubles over the past reporting period (3.9% of market cap)
- FCF (LTM) -11.3 bln RUB (negative), 6.7% of market cap
- EV/EBITDA multiple is 5.5x compared to historical level (50th percentile) of 3.8x

Growth potential increased by 39.3% to -110.8%

------------------------------------------------

2024-02-20

#ROSN #reports

Rosneft reported for 2023 q4:
- Revenue +38.9% YoY (vs +42.1% in previous quarter and historical rate +28.4%)
- EBITDA +13.7% YoY (vs +308.0% in previous quarter and historical rate +58.4%)
- EBITDA margin 21.4% decreased compared to 26.1% same period last year
- Net Debt increased by 51.2 bln rubles over the past reporting period (0.8% of market cap)
- FCF (LTM) +919.9 bln RUB (positive), 14.9% of market cap
- EV/EBITDA multiple is 3.1x compared to historical level (50th percentile) of 5.7x

Growth potential decreased by 48.7% to +135.5%

------------------------------------------------

2024-02-20

#BANE #reports

Bashneft reported for 2023 q4:
- Revenue +33.6% YoY (vs +26.7% in previous quarter and historical rate +44.2%)
- EBITDA -8.5% YoY (vs +87.4% in previous quarter and historical rate +86.7%)
- EBITDA margin 15.4% decreased compared to 22.5% same period last year
- EV/EBITDA multiple is 2.4x compared to historical level (50th percentile) of 3.1x

------------------------------------------------

2024-02-17

#SVCB #reports

Sovcombank reported for 2023 q4:
- Revenue +2.7% YoY (vs +59.2% in previous quarter and historical rate +15.9%)
- Net Income 75.7% increased compared to -15.0% same period last year

------------------------------------------------

2024-02-16

#GCHE #reports

Cherkizovo reported for 2023 q4:
- Revenue +18.8% YoY (vs +13.3% in previous quarter and historical rate +18.7%)
- EBITDA +57.1% YoY (vs +25.0% in previous quarter and historical rate +20.0%)
- EBITDA margin 24.7% increased compared to 18.7% same period last year
- Net Debt decreased by 56.7 bln rubles over the past reporting period (28.0% of market cap)
- FCF (LTM) +114.3 bln RUB (positive), 56.4% of market cap
- EV/EBITDA multiple is 4.5x compared to historical level (50th percentile) of 7.1x

Growth potential decreased by 34.4% to +27.2%

------------------------------------------------

2024-02-16

#YNDX #reports

Yandex reported for 2023 q4:
- Revenue +51.5% YoY (vs +53.8% in previous quarter and historical rate +55.2%)
- EBITDA +41.7% YoY (vs +27.7% in previous quarter and historical rate +33.8%)
- EBITDA margin 8.2% decreased compared to 8.7% same period last year
- Net Debt increased by 23.4 bln rubles over the past reporting period (2.1% of market cap)
- FCF (LTM) -69.6 bln RUB (negative), 6.3% of market cap
- EV/EBITDA multiple is 15.8x compared to historical level (50th percentile) of 37.5x

------------------------------------------------

2024-02-16

#SOFL #reports

Softline reported for 2023 H2:
- Revenue +58.6% YoY (vs -4.8% in previous half-year and historical rate +2.5%)
- EBITDA +147.5% YoY (vs -71.0% in previous half-year and historical rate +15.6%)
- EBITDA margin 8.4% increased compared to 5.4% same period last year
- Net Debt increased by 6.6 bln rubles over the past reporting period (13.7% of market cap)
- FCF (LTM) -6.4 bln RUB (negative), 13.5% of market cap
- EV/EBITDA multiple is 14.0x compared to historical level (50th percentile) of 29.9x

------------------------------------------------

2024-02-09

#NVTK #reports

Novatek reported for 2023 q4:
- Revenue -38.9% YoY (vs -41.4% in previous quarter and historical rate +40.4%)
- EBITDA -30.3% YoY (vs -35.4% in previous quarter and historical rate +59.7%)
- EBITDA margin 32.3% increased compared to 28.3% same period last year
- EV/EBITDA multiple is 11.2x compared to historical level (50th percentile) of 10.1x

------------------------------------------------

2024-02-09

#GMKN #reports

Nornickel reported for 2023 H2:
- Revenue +38.6% YoY (vs -20.2% in previous half-year and historical rate +6.9%)
- EBITDA +33.3% YoY (vs -31.5% in previous half-year and historical rate +23.8%)
- EBITDA margin 46.4% decreased compared to 48.3% same period last year
- Net Debt decreased by 27.0 bln rubles over the past reporting period (1.1% of market cap)
- FCF (LTM) +356.0 bln RUB (positive), 14.7% of market cap
- EV/EBITDA multiple is 5.7x compared to historical level (50th percentile) of 8.3x

Growth potential decreased by 2.8% to -46.9%

------------------------------------------------

2024-01-27

#BSPB #reports

Bank Sankt-Peterburg reported for 2023 q4:
- Revenue +31.1% YoY (vs +13.9% in previous quarter and historical rate +25.6%)
- Net Income -4.1% YoY (vs -21.9% in previous quarter and historical rate +77.8%)
- Net Income 56.0% decreased compared to 76.5% same period last year
- P/E multiple is 2.6x compared to historical level (50th percentile) of 2.6x

------------------------------------------------

2023-12-27

#MAGN #reports

MMK reported for 2023 q3:
- Revenue +12.6% YoY (vs +4.8% in previous quarter and historical rate +29.1%)
- EBITDA +8.3% YoY (vs -2.3% in previous quarter and historical rate +37.5%)
- EBITDA margin 24.9% decreased compared to 25.8% same period last year
- Net Debt decreased by 8.9 bln rubles over the past reporting period (1.5% of market cap)
- FCF (LTM) +35.7 bln RUB (positive), 6.0% of market cap
- EV/EBITDA multiple is 2.5x compared to historical level (50th percentile) of 3.7x

Growth potential increased by 2.5% to +4.9%

------------------------------------------------

2023-12-26

#MAGN #reports

MMK reported for 2023 q4:
- Revenue +12.6% YoY (vs +4.8% in previous quarter and historical rate +29.1%)
- EBITDA +8.3% YoY (vs -2.3% in previous quarter and historical rate +37.5%)
- EBITDA margin 24.9% decreased compared to 25.8% same period last year
- Net Debt decreased by 8.9 bln rubles over the past reporting period (1.5% of market cap)
- FCF (LTM) +35.7 bln RUB (positive), 6.1% of market cap
- EV/EBITDA multiple is 2.5x compared to historical level (50th percentile) of 3.7x

Growth potential decreased by 17.2% to +5.8%

------------------------------------------------

2023-12-15

#CHMF #reports

Severstal reported for 2023 q3:
- Revenue +15.1% YoY (vs +15.1% in previous quarter and historical rate +21.1%)
- EBITDA +13.8% YoY (vs +13.8% in previous quarter and historical rate +36.9%)
- EBITDA margin 34.4% decreased compared to 34.8% same period last year
- Net Debt decreased by 34.3 bln rubles over the past reporting period (3.3% of market cap)
- FCF (LTM) +137.1 bln RUB (positive), 13.0% of market cap
- EV/EBITDA multiple is 3.2x compared to historical level (50th percentile) of 4.8x

Growth potential increased by 1.6% to +17.6%

------------------------------------------------

2023-12-15

#SVCB #reports

Sovcombank reported for 2023 q3:
- Revenue +59.2% YoY (vs +31.2% in previous quarter and historical rate +16.8%)
- Net Income 64.9% increased compared to -15.0% same period last year

------------------------------------------------

2023-12-15

#CHMF #reports

Severstal reported for 2023 q4:
- Revenue +15.1% YoY (vs +15.1% in previous quarter and historical rate +21.1%)
- EBITDA +13.8% YoY (vs +13.8% in previous quarter and historical rate +36.9%)
- EBITDA margin 34.4% decreased compared to 34.8% same period last year
- Net Debt decreased by 34.3 bln rubles over the past reporting period (3.3% of market cap)
- FCF (LTM) +137.1 bln RUB (positive), 13.3% of market cap
- EV/EBITDA multiple is 3.1x compared to historical level (50th percentile) of 4.8x

Growth potential decreased by 6.8% to +11.5%

------------------------------------------------

2023-12-13

#AFKS #reports

Sistema reported for 2023 q3:
- Revenue +17.1% YoY (vs +14.9% in previous quarter and historical rate +13.9%)
- EBITDA +6.8% YoY (vs -12.4% in previous quarter and historical rate +11.5%)
- EBITDA margin 26.7% decreased compared to 29.3% same period last year
- Net Debt increased by 26.4 bln rubles over the past reporting period (17.7% of market cap)
- FCF (LTM) -102.0 bln RUB (negative), 68.3% of market cap
- EV/EBITDA multiple is 4.8x compared to historical level (50th percentile) of 5.1x

------------------------------------------------

2023-12-12

#BELU #reports

Beluga reported for 2023 q3:
- Revenue +22.2% YoY (vs +14.0% in previous quarter and historical rate +23.1%)
- EBITDA +7.5% YoY (vs +5.0% in previous quarter and historical rate +33.5%)
- EBITDA margin 17.4% decreased compared to 19.8% same period last year
- Net Debt increased by 3.6 bln rubles over the past reporting period (6.4% of market cap)
- FCF (LTM) -6.8 bln RUB (negative), 12.2% of market cap
- EV/EBITDA multiple is 5.3x compared to historical level (50th percentile) of 4.4x

------------------------------------------------

2023-12-12

#ABRD #reports

Abrau Durso reported for 2023 H1:
- Revenue +4.5% YoY (vs +23.1% in previous half-year and historical rate +13.8%)
- EBITDA -33.3% YoY (vs +9.2% in previous half-year and historical rate +44.1%)
- EBITDA margin 10.1% decreased compared to 15.8% same period last year
- Net Debt increased by 2.2 bln rubles over the past reporting period (9.4% of market cap)
- FCF (LTM) -1.3 bln RUB (negative), 5.5% of market cap
- EV/EBITDA multiple is 10.4x compared to historical level (50th percentile) of 9.6x

------------------------------------------------

2023-12-01

#AFLT #reports

Aeroflot reported for 2023 q3:
- Revenue +40.4% YoY (vs +5.1% in previous quarter and historical rate +34.5%)
- EBITDA +278.1% YoY (vs +43.1% in previous quarter and historical rate +74.0%)
- EBITDA margin 57.2% increased compared to 21.2% same period last year
- Net Debt increased by 87.2 bln rubles over the past reporting period (98.3% of market cap)
- FCF (LTM) -1.2 bln RUB (negative), 1.4% of market cap
- EV/EBITDA multiple is 3.3x compared to historical level (50th percentile) of 7.1x

------------------------------------------------

2023-12-01

#BELU #reports

Beluga reported for 2023 q1:
- Revenue +14.0% YoY (vs +14.0% in previous quarter and historical rate +23.2%)
- EBITDA +5.5% YoY (vs +5.5% in previous quarter and historical rate +37.3%)
- EBITDA margin 15.8% decreased compared to 17.0% same period last year
- Net Debt increased by 5.8 bln rubles over the past reporting period (9.5% of market cap)
- FCF (LTM) +0.4 bln RUB (positive), 0.6% of market cap
- EV/EBITDA multiple is 5.5x compared to historical level (50th percentile) of 4.4x

------------------------------------------------

2023-11-30

#BELU #reports

Beluga reported for 2023 q2:
- Revenue +14.0% YoY (vs +14.0% in previous quarter and historical rate +23.2%)
- EBITDA +5.5% YoY (vs +5.5% in previous quarter and historical rate +37.3%)
- EBITDA margin 15.8% decreased compared to 17.0% same period last year
- Net Debt increased by 5.8 bln rubles over the past reporting period (9.4% of market cap)
- FCF (LTM) +0.4 bln RUB (positive), 0.6% of market cap
- EV/EBITDA multiple is 5.5x compared to historical level (50th percentile) of 4.3x

------------------------------------------------

2023-11-30

#BANE #reports

Bashneft reported for 2023 q3:
- Revenue +26.7% YoY (vs -23.1% in previous quarter and historical rate +37.1%)
- EBITDA +87.4% YoY (vs +2.8% in previous quarter and historical rate +81.1%)
- EBITDA margin 30.3% increased compared to 20.5% same period last year
- EV/EBITDA multiple is 2.1x compared to historical level (50th percentile) of 3.1x

------------------------------------------------

2023-11-30

#TRNFP #reports

Transneft (pref) reported for 2023 q3:
- Revenue +13.5% YoY (vs +8.9% in previous quarter and historical rate +9.8%)
- EBITDA +0.5% YoY (vs +13.8% in previous quarter and historical rate +8.6%)
- EBITDA margin 39.3% decreased compared to 44.4% same period last year
- Net Debt decreased by 40.5 bln rubles over the past reporting period (3.8% of market cap)
- FCF (LTM) +82.3 bln RUB (positive), 7.8% of market cap
- EV/EBITDA multiple is 2.4x compared to historical level (50th percentile) of 3.3x

Growth potential increased by 53.4% to +57.9%

------------------------------------------------

2023-11-30

#ROSN #reports

Rosneft reported for 2023 q3:
- Revenue +42.1% YoY (vs -22.5% in previous quarter and historical rate +22.5%)
- EBITDA +308.0% YoY (vs -16.5% in previous quarter and historical rate +54.5%)
- EBITDA margin 34.5% increased compared to 12.0% same period last year
- EV/EBITDA multiple is 3.2x compared to historical level (50th percentile) of 7.1x

------------------------------------------------

2023-11-29

#SFIN #reports

SFI Holding reported for 2023 q3:
- Revenue +26.3% YoY (vs +20.3% in previous quarter and historical rate +8.4%)
- Net Income +34.0% YoY (vs +208.7% in previous quarter and historical rate +114.9%)
- Net Income 65.1% increased compared to 61.4% same period last year
- P/E multiple is 3.5x compared to historical level (50th percentile) of 9.5x

------------------------------------------------

2023-11-29

#SELG #reports

Seligdar reported for 2023 q1:
- Revenue +77.4% YoY (vs +81.2% in previous quarter and historical rate +27.0%)
- EBITDA +436.9% YoY (vs -10.3% in previous quarter and historical rate +18.2%)
- EBITDA margin 38.9% increased compared to 12.9% same period last year
- Net Debt increased by 6.2 bln rubles over the past reporting period (8.7% of market cap)
- FCF (LTM) -5.6 bln RUB (negative), 7.9% of market cap
- EV/EBITDA multiple is 8.2x compared to historical level (50th percentile) of 5.7x

Growth potential decreased by 1.0% to +7.9%

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2023-11-28

#SELG #reports

Seligdar reported for 2023 q2:
- Revenue +77.4% YoY (vs +81.2% in previous quarter and historical rate +27.0%)
- EBITDA +436.9% YoY (vs -10.3% in previous quarter and historical rate +18.2%)
- EBITDA margin 38.9% increased compared to 12.9% same period last year
- Net Debt increased by 6.2 bln rubles over the past reporting period (8.6% of market cap)
- FCF (LTM) -5.6 bln RUB (negative), 7.8% of market cap
- EV/EBITDA multiple is 8.3x compared to historical level (50th percentile) of 5.7x

Growth potential decreased by 27.8% to +10.3%

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2023-11-28

#HYDR #reports

Rushydro reported for 2023 q3:
- Revenue +21.9% YoY (vs +22.6% in previous quarter and historical rate +8.3%)
- EBITDA +85.9% YoY (vs +40.8% in previous quarter and historical rate +7.7%)
- EBITDA margin 23.4% increased compared to 15.3% same period last year
- Net Debt increased by 63.6 bln rubles over the past reporting period (17.7% of market cap)
- FCF (LTM) -108.4 bln RUB (negative), 30.1% of market cap
- EV/EBITDA multiple is 6.9x compared to historical level (50th percentile) of 5.3x

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2023-11-28

#SELG #reports

Seligdar reported for 2023 q3:
- Revenue +77.4% YoY (vs +81.2% in previous quarter and historical rate +27.0%)
- EBITDA +436.9% YoY (vs -10.3% in previous quarter and historical rate +18.2%)
- EBITDA margin 38.9% increased compared to 12.9% same period last year
- Net Debt increased by 6.2 bln rubles over the past reporting period (8.7% of market cap)
- FCF (LTM) -5.6 bln RUB (negative), 7.9% of market cap
- EV/EBITDA multiple is 8.2x compared to historical level (50th percentile) of 5.7x

Growth potential decreased by 31.5% to +8.1%

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2023-11-28

#NLMK #reports

NLMK reported for 2023 q1:
- Revenue +0.3% YoY (vs -30.8% in previous quarter and historical rate +24.7%)
- EBITDA -2.9% YoY (vs -52.8% in previous quarter and historical rate +47.6%)
- EBITDA margin 32.9% decreased compared to 34.0% same period last year
- Net Debt decreased by 36.7 bln rubles over the past reporting period (3.4% of market cap)
- FCF (LTM) +146.9 bln RUB (positive), 13.7% of market cap
- EV/EBITDA multiple is 3.6x compared to historical level (50th percentile) of 3.2x

Growth potential increased by 77.2% to -2.4%

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2023-11-28

#AKRN #reports

Acron reported for 2023 q3:
- Revenue +1.5% YoY (vs -21.0% in previous quarter and historical rate +16.1%)
- EBITDA +5.8% YoY (vs -16.2% in previous quarter and historical rate +63.9%)
- EBITDA margin 61.1% increased compared to 58.7% same period last year
- Net Debt decreased by 0.0 bln rubles over the past reporting period (0.0% of market cap)
- FCF (LTM) +13.8 bln RUB (positive), 1.8% of market cap
- EV/EBITDA multiple is 9.0x compared to historical level (50th percentile) of 9.1x

Growth potential increased by 4.7% to -12.4%

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2023-11-28

#NLMK #reports

NLMK reported for 2023 q2:
- Revenue -5.8% YoY (vs +1.4% in previous quarter and historical rate +21.7%)
- EBITDA -37.5% YoY (vs -38.6% in previous quarter and historical rate +45.6%)
- EBITDA margin 32.9% decreased compared to 49.6% same period last year
- Net Debt decreased by 6.2 bln rubles over the past reporting period (0.6% of market cap)
- FCF (LTM) +138.0 bln RUB (positive), 13.0% of market cap
- EV/EBITDA multiple is 2.4x compared to historical level (50th percentile) of 2.5x

Growth potential increased by 96.5% to +17.1%

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2023-11-25

#VTBR #reports

Bank VTB PAO reported for 2023 q1:
- Revenue +95.1% YoY (vs +89.6% in previous quarter and historical rate +11.0%)
- Net Income 28.7% increased compared to -104.0% same period last year

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2023-11-25

#MRKS #reports

IDGC Siberia reported for 2023 q1:
- Revenue +3.4% YoY (vs +3.4% in previous quarter and historical rate +0.6%)
- EBITDA margin -10.2% decreased compared to -1.0% same period last year

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2023-11-25

#VTBR #reports

Bank VTB PAO reported for 2023 q2:
- Revenue +95.1% YoY (vs +89.6% in previous quarter and historical rate +11.0%)
- Net Income 28.7% increased compared to -104.0% same period last year

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2023-11-25

#MRKS #reports

IDGC Siberia reported for 2023 q2:
- Revenue +3.4% YoY (vs +3.4% in previous quarter and historical rate +0.6%)
- EBITDA margin -10.2% decreased compared to -1.0% same period last year

General information

Sistema PJSC FC is a publicly-listed investment company incorporated in Russia. The Company owns a diverse set of public and private companies which it holds in two distinct portfolios: Core assets and Developing assets.

Dividend yield for the last twelve months 1.6%
Free cash flow yield -65.7% (LTM)
Share price is 146.2% higher than minimum and 29.9% lower than maximum for the last 3 years
The company is overvalued by EV / LTM EBITDA multiple compared to target level (6.4x vs
)

Key Financials (Download financials)

Ticker: AFKS

Share price, RUB: (-1.1%)25.2855

year average price 17.49

year start price 14.82 2023-04-20

min close price 14.70 2023-05-04

max close price 25.56 2024-04-17

current price 25.29 2024-04-18

Common stocks: 9 650 000 000

Dividend Yield: 1.6%

FCF Yield LTM: -65.7%

EV / LTM EBITDA: 6.4x

EV / EBITDA annualized: 12.5x

Target EV / EBITDA (hist percentile):

Express share price potential:

EV / LTM EBITDA mutiple calculation

Market Cap (m RUB): 244 005

Net Debt (m RUB): 1 451 048

EV (Enterprise Value): 1 695 053

EBITDA LTM (m RUB): 266 200

EV / LTM EBITDA: 6.4x

Average daily trading volume for the week, RUB mln: 4584.34

Revenue and EBITDA

Quarterly values (m RUB)

Change (y/y)

Cash Flow

FCF (m RUB), before FX effects elimination

Net Debt / Cash and Equivalents (m RUB)

Share price and dividends (Download history)

Share price

Payment RUB per share

Multiple and potential

EV / LTM EBITDA and 50% percentile

Potential dynamics

Daily trade volumes

Millions of RUB

Valuation through assets (as of the end of 2023 q4)

Sistema PJSC FC has stakes in the following companies

Company	Ticker	Share	Cap	EBITDA LTM	Net Debt
Segezha Group	SGZH	72.0%	60 626	9 281	140 530
MTS	MTSS	50.3%	536 298	206 662	441 013
OZON	OZON	32.4%	829 261
Etalon	ETLN	29.8%	36 493
Influence at AFKS			592 960	215 943	581 543

	mln RUB

Net Debt AFKS	1 451 048
Net Debt in listed companies	581 543
Net Debt in not listed companies	869 505

EBITDA LTM AFKS	266 200
EBITDA LTM in listed companies	215 943
EBITDA LTM in not listed companies	50 257
EV evaluation in not listed companies (x5)	251 285

Binnopharm Cap revaluation	41 600

Cap in not listed companies, min -300k	-576 620
Cap in listed companies	592 960

AFKS Cap evaluation through assets	292 960
AFKS Cap	244 005

Current price discount	16.7%
Historical price discount	7.9%

Growth potential (0.921 / 0.833 - 1)	+10.6%

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More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company