Central Federal District of the Russian Federation
Varshavskoye Highway 125, 9 entrance,
Pleskonos Dmitry Anatolyevich
Solonin Sergey Aleksandrovich
Opening holding (before FC Otkritie) - 63,85%
The Qiwi group – the participant of the Russian market of instant payments - a payment service in Russia and the CIS countries which possesses the integrated payment network allowing to make payments on physical, the Internet and to mobile communication channels.
Are a part of group:
- payment service of QIWI (terminal direction),
- QIWI BANK Ltd (financial provision of payments, the QIWI performed through processing, the issuer of Visa QIWI Wallet),
- communications system of QIWI Advertising (advertizing platforms and tools based on QIWI of Terminals).
2019: Growth of revenue by 18% up to 23,176 million rubles.
On March 24, 2020 the QIWI company announced results for 2019 which ended on December 31, 2019.
The key operational and financial performance for all 2019:
- The total corrected net proceeds increased by 18% and were 23,176 million rubles (374.4 million US dollars)
- Net proceeds of a segment of payment services increased by 27% and were 20,965 million rubles (338.7 million US dollars)
- The corrected EBITDA increased by 53% and made 9,099 million rubles (147.0 million US dollars)
- The corrected net profit increased by 61% and was 6,679 million rubles (107.9 million US dollars) or 107.27 rub on a watered action
- Net profit in a segment of payment services increased by 27% and was 12,105 million rubles (195.5 million US dollars) or 194.41 rub on a watered action
- The total amount of payment services increased by 31% and was 1,449 billion rubles (24.0 billion US dollars)
- The quantity active QIWI of Purses increased by 8% and was 22.5 million.
|I am glad to provide our financial results for 2019 and to tell about some of the key operational indicators. In 2019 we achieved good results, especially in a segment of payment services which provided growth of net proceeds and net profit of a segment by 27% in comparison with previous year. Growth of indicators in the field of our payment services is mainly caused by expansion and improvement of the product offer for our users, merchants and partners with a support on long-term trends in our key markets. In 2019 we processed nearly 1.5 trillion rubles of cash and electronic payments, having increased our turnover honor on a third. I consider that I this excellent achievement and want to express gratitude to all our command for its deposit. Our results clearly demonstrate the value and relevance of the payment ecosystem developed by us which we are going to continue to improve. At the same time we expect a set of the calls caused, first of all, by recently burst coronavirus pandemic which affects some of our main categories, and sharp drop in oil prices and devaluation of ruble. Nevertheless, we consider and repeatedly confirmed it before that the ecosystem created by us differs in stability, high degree of adaptivity and focus on the consumer, and we will continue to improve it, placing emphasis on our main niches and spheres of professional interests and creating the different scenarios of use which are well adapted for service of our users, merchants and partners. At the same time we continue to optimize our transactions and to implement more strict control facilities of costs, and we see that the majority of projects in which we make investments is shown by higher operational and financial performance is, first of all, the Conscience card and Tochka bank. Considering it, we remain are correct to the principle of distribution of surplus of money to our shareholders and we are not going to postpone or cancel dividend payout. Even in this tough time we see a set of opportunities in the field of payments and in the adjacent markets, and I consider that we have good opportunities to continue to strengthen our ecosystem with an ultimate goal in providing our long-term perspectives of growth,|
speaks Kim Boris, the CEO of QIWI
Sale of Rocketbank. In August, 2017 carried out by QIWI a number of transactions on acquisition at Otkrytiye bank brands and program and banks Point hardware and "Rocketbank". In July, 2018 process of acquisition of Rocketbank was finished and by the end of 2018 completed transfer of clients, employees and business processes Rocketbank to QIWI. During the first half of 2019 considered a number of the strategic possibilities on development of activity of Rocketbank both within an ecosystem, and as the separate project. The final strategic plan for Rocketbank was provided and considered by Board of Directors of the Company. In August, 2019, having carefully studied the offered strategy and required financing, the Board of Directors came to a conclusion that the investment profile and the needs for financing of the business plan of Rocketbank are not compatible about risk appetite of QIWI and that opportunities for synergy of this business with primary activity of the Company are limited. With respect thereto the Board of Directors charged to the management to study possibilities of partial or complete sale of Rocketbank.
According to the company, afterwards studied possibilities of partial or complete sale of Rocketbank and could not find for it the suitable buyer therefore the Board of Directors made the decision on turning of activity of Rocketbank. This process was begun and for March, 2020 the most effective methods of use of assets of Rocketbank, including piloting of the certain projects which are earlier developed in Rocketbank, in a segment of payment services, in particular, in a product line of B2B2C are considered. Within measures for turning of activity of Rocketbank intend to stop marketing efforts (including canceling of the loyalty program of Rocketbank), to reduce number of salaried employees and to raise rates that as the company considers, will shortly lead to significant decrease in number of clients of Rocketbank and reduction of a range of the offered services. The QIWI assumes that turning of activity will be complete by the end of 2020. It is expected that cumulative dead losses in a segment of Rocketbank in 2020 will not exceed 1.5 billion rubles.
The QIWI gives the forecast for 2020:
- it is supposed that the consolidated corrected net proceeds will increase by 3–13% in comparison with 2019;
- it is supposed that net proceeds of a segment of payment services will change from-3% to 5% in comparison with 2019;
- it is supposed that the corrected net profit will increase by 10–30% in comparison with 2019.
The factors considered for the purposes of the forecast for 2020:
The outbreak of a koronavirusny infection COVID-19 and the related measures in the different countries can negatively affect consumer demand around the world and in industries worldwide, and there is a probability that COVID-19 and the related measures will lead to recession of world economy. We cannot precisely estimate potential impact of COVID-19 on our business, including a negative impact on a betting in general and income from products and the services provided to merchants in the field of a betting as a result of transfer or canceling of the main sporting events. In addition, degree of a negative impact of flash of COVID-19 on consumer demand and also influence of flash of COVID-19 on the general economic situation is not clear. The general effects remain not clear and will depend on duration and weight of impact of a coronavirus on economic activity in the markets. The complete scale of a potential negative impact of sharp drop in oil prices and the devaluation of ruble of the Russian economy caused by it also remains not clear, but effects can be very serious. The forecast reflects present views and perspective estimates and is based on the current trends. In case of further deterioration in trends the negative impact on business and transactions can be more serious, than we expect for March, 2020.
Canceling of secondary placement
The Qiwi plc company announced on July 21, 2020 start of the guaranteed secondary placement in total 6,800,870 class B shares placed in the form of the American Depository Actions (further – "ADS") which had to be implemented by some shareholders of the company ("The selling shareholders"). The selling shareholders provided to underwriters the 30-day purchase option to 1,020,130 ADS.
The co-founder of QIWI Sergey Solonin and the CEO of the company Boris Kim were going to sell the shares Otkrytiye bank.
The selling shareholders will receive all funds raised as a result of placement. The Qiwi company does not sell the share within this placement and will not receive any sales proceeds, including sales proceeds underwriters of the purchase option of additional actions at the Selling shareholders.
The registration statement containing the securities prospectus, offered to sale within placement, was submitted to Securities and Exchange Commission USA (SEC) on November 25, 2019 and became effective on January 27, 2020. It was reported that placement will be made only by means of the addition to the avenue, and the preliminary addition to the avenue will be published on the website of SEC and will be well free on the website of SEC.
But already on July 22 it became known that shareholders of QIWI decided not to carry out secondary share placing (SPO) during which about 12.5% of shares were supposed to sell.
Creation of the company for development of housing and public utilities services
On March 2, 2020 announced Qiwi creation of Billing Solution Online company within which services for the market of housing and communal services (housing and public utilities) will develop. Read more here.
PickPoint redeemed all automatic post offices of Qiwi
On December 26, 2019 it became known of purchase of network of Qiwi Box automatic post offices by PickPoint company which includes about 2.3 thousand objects. The price of the transaction is not set. Read more here.
In Qiwi the management changes
The Qiwi payment system announced in December management reshuffles of the company. Since January 20, 2020 the CEO and the main owner of the company Sergey Solonin leaves the post. He will become the executive chairman of the board of directors of the company (now Solonin is the ordinary member of council).
The current chairman of the board of directors Boris Kim, respectively, leaves this post. He will become the new CEO of the company instead of Solonin. Also Kim leaves a post of the member of the committee on compensations at Board of Directors.
Besides, the chairman of the board of directors of QIWI Bank (enters into the Qiwi group) Shevchenko Maria will hold a position of the deputy chief executive officer of a payment system.
Investments of 6 million rubles into Bartello fudtekh-company
At the end of November, 2019 to Qiwi was announced investment of 6 million rubles of Bartello through the venture division by Qiwi Venture. What share the payment service will receive in a fudtekh-startup, is not specified. Read more here.
Start of payment acceptance on the credits Bystrobank in shops and salons of retail networks
On September 23, 2019 it became known that QIWI started payments for benefit of PJSC Bystrobank in shops and salons of partner networks across all Russia. It is possible to fill up the bank account for the purpose of loan repayment without the commission in five thousand Svyaznoy shops in the territory of the whole country. Also replenishment is available in salons Rostelecom. Here the commission will make 1% of the amount (not less than 50 rubles). Thanks to connection of QIWI channels, clients of bank will get broader access to services and will be able to pay the credits in any convenient location, for example, near the house, work or on a trip.
For making payment the cashier needs to call only the card number and to undergo primary identification of the payer by the passport. Further at making payments the passport is required only if the payment amount exceeds 15000 rubles. Money is credited to the account instantly.
|Being one of the largest autocredit banks of Russia, PJSC Bystrobank has big base of clients — individuals. We are glad to cooperation increase and are sure that connection of our payment services will become advantage to clients of bank,|
|Bystrobank constantly expands geography of the presence for this reason to us it is extremely important that clients could pay the credits where it is closer and more convenient to them,|
The agreement with 1C on joint development of IT solutions for the financial technical-companies
On June 6, 2019 QIWI and 1S companies announced strategic partnership. The companies together will be engaged in development of IT solutions for optimization of operational processes of the financial technical-companies. The corresponding memorandum is signed by the CEO of QIWI Sergey Solonin and the director of the company of 1C Boris Nuraliyev.
The cooperation purpose – development of the solutions increasing the speed of operational business processes of financial those companies. Jointly the companies expect to make a powerful contribution to development of all industry of a fintekh.
Joint solutions based on the corporate platform "1C: Enterprise" will be focused mainly on financial market, in particular, the sphere of a fintekh — with attention to features of the industry. Solutions will consider specifics of work of the companies which stocks are quoted on the western stock exchanges, such as NASDAQ. Thus, cooperation offers wide prospects for creation of corporate systems in the large Russian companies, consider in QIWI and 1S.
Joint developments will allow to optimize many corporate processes, in particular, connected with financial statements (RAS, IFRS, etc.), budgeting, treasury. So in those areas where the speed and the nature of the made management decisions plays a key role.
QIWI and 1S already have experience of joint work. In QIWI it is implemented and the 1C: Document Flow system is widely applied, at the same time the QIWI company implemented legally significant electronic document management in "1C: Document Flow". This project allowed QIWI to reduce the general duration of work with documents by 60% and for 20% to reduce the average cost of processes. For the beginning of June, 2019 in the company more than 6000 documents are monthly processed completely in electronic form (without paper). More than 2700 partners are transferred to electronic exchange of documents.
Cofounder of ANO Tsifrovaya ekonomika
On May 21, 2019 the QIWI company reported that it became cofounder of ANO Tsifrovaya ekonomika.
The representative of the company also was a part of the working group on normative regulation. Necessary documents already underwent approval of century Ministry of Justice Russia. In more detail here.
Creation of the uniform center of processing Big Data under control of Yulia Bogdacheva
The Qiwi group announced on February 15 creation of own competence center in the field of machine learning technologies and work with data — Qiwi Data and also the creation of a single corporate platform for solving of tasks connected with deep analytics and monetization of data. Yulia Bogachyova who was earlier working in Sberbank at a position of Chief Data Officer will be engaged in development of the direction.
As envisioned by the Qiwi group, development and deployment of methods of machine learning will allow to solve also more effectively and internal problems. Automation of internal processes in Qiwi was entrusted Andrey Abramov who headed the direction of the analysis and decision making.
Growth of revenue by 24% to 13.2 billion rubles
- The corrected net proceeds of the company grew by 24% up to 13.2 billion rubles. The indicator of EBITDA (a profit before taxes, protsentvo on the credits and an expense on an amoritzation) grew by 14% up to 5.2 billion rubles. Net profit decreased by 14% up to 4.05 billion rubles.
- Revenue from a payment segment (payment terminals, virtual wallets, etc.) increased in a year by 19% to 12.6 billion rubles. Net profit from this segment grew by 34% up to 7.54 billion rubles.
- The Segment of consumer financial services (recently started card of payment by installments Conscience) generated revenue in the amount of only 9 million rubles so far. Net loss from this segment makes 2.16 billion rubles.
- The total amount of the payments which passed through Qiwi for 2017 increased by 7.5% to 911 billion rubles. Including the segment of e-commerce grew by 17% to 167.9 billion rub, and the segment of money transfers increased in volume by one and a half times, having made 238.7 billion rubles.
- At the same time the segment of payment of telecommunication services was reduced by 14% to 277.2 billion rubles, and a segment of financial services for 9% to 238.7 billion rubles.
ING was included into the capital of Qiwi
At the beginning of July, 2017 it became known that the ING international financial group with the headquarters in Holland became the owner of 4% of stocks of Qiwi payment system. The relevant information is posted on the website of the American Securities Commission.
At the time of transaction shares of Qiwi were traded at the American exchange Nasdaq at the price of $25.25 for one security. Proceeding from these quotations, the market value of this packet was $62.8 million.
In the last two years stocks of Qiwi reached the pica in May, 2015 when they bargained at the price of $30 for one security. Then falling began, and in February, 2016 stocks of payment system cost already lower than $10. Further shares were traded in a corridor of $10-15, but since February, 2017 growth then quotations reached $25 for an action by July, 2017 began.
It is remarkable that a number of foreign investors reduced the sizes of the share blocks of Qiwi which are available for them. In particular, the Hong Kong fund Sylebra lowered the share from 7% to 4%, and the Australian Platinum Investors — from 7% to 6%.
QIWI underwent certification on the PCI DSS 3.2 standard
Passing of audit on compliance to requirements of the new version of the PCI DSS 3.2 standard — the next step in providing a complex of the protective measures applied in QIWI company directed to prevention of unauthorized access to data of clients and safety of their transactions.
"Opening" takes shares of Qiwi for $690 million
The Otkrytiye financial group announced the tender for purchase of shares of Qiwi payment system. The group is ready to take shares of the class "B" or the American depository stocks (ADS) issued on them.
"Opening" it is ready to redeem 24.8 million shares of Qiwi at the price of $28 for one action. Respectively, the Opening group is ready to spend for the redemption of all stated volume of actions to $694 million.
The share price of Qiwi given by the Opening group represents to 19% an award to the market share price in comparison with a mark of $23.5 for an action on which biddings at the American exchange NASDAQ were closed on June 9, 2017. In comparison with average market price for the last year ($14.91 for an action) the price offered by the Opening group is an award in 88%.
Janus Capital and Capital Group left
At the beginning of 2017 it became known of an exit of two more American investment funds from capital stock of Qiwi. The shares were sold Janus Capital for the beginning of 2014 owning 4.5% of stocks of Qiwi, and group of Capital Group funds which at the beginning of 2015 possessed 5.9% of stocks.
Other foreign funds also reduce the size of the shares in Qiwi. The Gonkogsky fund Sylebra for the beginning of 2017 reduced the packet in Qiwi to 4% (the previous year it made 7%). The Australian fund Platinum Investors for the same period reduced the share from 7% to 6%.
Waddel&Reed began to acquire shares of the Post-Soviet IT companies in 2013. For the beginning of 2014 the fund had 5% of stocks of Qiwi, 3% of stocks of the offshore software developer Luxoft created by the Russian IBS group and 7% of stocks of other offshore developer EPAM, the American company created by natives of Belarus.
For the beginning of 2016 Waddel & Reed had 6.3% of stocks of Qiwi. Proceeding from present stock quotations of Qiwi at the Nasdaq exchange, the market value of this packet is $62 million.
2016: Growth of revenue by 4% up to 10.6 billion rubles.
- The corrected revenue of the company grew in a year by 4% up to 10.6 billion rubles, an indicator of EBITDA (a profit before taxes, percent on the credits and depreciation expenses) increased by 7% to 6 billion rubles.
- The corrected net profit increased by 14% to 4.7 billion rubles. At the same time the total amount of the payments which passed through Qiwi dropped by 2% up to 847 billion rubles. The number of payment terminals, including terminals of the Contact and Rapida payment systems purchased by Qiwi in 2015, decreased by 6% up to 162.2 thousand because of toughening the politician of the Central Bank.
- The number of active e-wallets of Qiwi of Visa Wallet grew by 7% up to 17.2 million. The Qiwi explains it with increase in number of the services supporting this purse and improvement of convenience of use of service.
- On segments the largest volume of payments fell on financial services – 263 billion rubles (in comparison with 2015 grew by 20%). The Segment of money transfers grew by 9% up to 184 billion rubles, the e-commerce segment also grew – by 14% up to 143 billion rubles. And here the segment of telecommunications was reduced by 25% to 199 billion rubles.
- Received the greatest revenue of Qiwi in an e-commerce segment – 3.99 billion rubles (growth in a year – 16%). The largest growth in a year – for 38% - showed a segment of financial services in which revenue made 1.38 billion rubles. In a segment of money transfers revenue made 1.96 billion rubles (growth – 14%), and here in a segment of telecommunications revenue, on the contrary, dropped by 20% up to 880 million rubles.
Capital Group consolidated 5.9% of stocks of Qiwi
The group of the investment funds which are under control of the American company Capital Group consolidated 5.9% of stocks of Qiwi payment system.
Capital Research Global Investors manages 1.2% of stocks of Qiwi, Capital World Investors - 4.7% of stocks of Qiwi. According to the edition, the market value of this packet is $71.5 million at the moment.
Carried out by Qiwi the IPO at the American exchange NASDAQ in May, 2013. The company placed 12.5 million securities in the form of the American Depository Actions (ADS). Placement took place $17 for an action, and capitalization of the company made $887 million. As of March 2, the cost of one stock of Qiwi is $22.94.
The Qiwi sells the American assets
On March 16, 2015 it became known of making decision of Qiwi payment system by Board of Directors on sale of a number of foreign assets. According to the annual report of the company, the relevant decision is made in December, 2014.
First of all it belongs to belonging to Qiwi the American companies Qiwi USA and IT Billion. They were responsible for development of terminal network in the USA which Qiwi began to create in 2012. For March, 2015 the company management looks for buyers for these assets.
In addition, Qiwi decided to get rid of a share in the Qiwi Brasil Technologia Captura E Processamento De Transa ções company developing terminal network in Brazil. In 2012 the share of Qiwi in this company decreased from 51% to 29.5%. In 2014 the Brazilian company carried out an additional issue, but Qiwi refused participation in it therefore its share was reduced to 9%.
In plans of Qiwi to sell 49% a share in Qiwi Jordan company - operator of payment terminals in Jordan. The company noted absence of potential buyers of this asset.
Expansion of Qiwi on the European market in the field of "e-wallets" failed. For this purpose in Latvia the Qiwi Wallet Europe company which obtained the Pan-European license for issue of electronic money is registered. As of March, 2015 in Qiwi decided to get rid of this asset, but also on it there are no potential buyers.
In 2012 Qiwi decided not to be engaged in global expansion and began to get rid of foreign networks of terminals actively: the companies in the Republic of South Africa, China, India, Hong Kong, Malaysia, Singapore, Tanzania, the Democratic Republic of the Congo, Argentina, Chile, Panama, Bulgaria and Serbia are sold.
Sales affected also the former Soviet Union: networks of terminals in Ukraine, Georgia, Latvia and Tajikistan are sold. For March, 2015 for Qiwi there are payment terminals in Kazakhstan, Belarus, Moldova, Romania and the UAE.
At the end of 2012 Qiwi conceived to conquer the world using electronic money. The company restarted the product "Qiwi Wallet", having replaced it with the joint solution with Visa payment system - Visa Qiwi Wallet (VQW). Different banks from the different countries of the world, and not just QIWI Bank as was at "Qiwi Wallet" can be issuers of VQW.
However, expansion to Europe of this product, was not successful too. Outside Russia now VQW is provided only in Kazakhstan.
The Central Bank asks questions to Qiwi
On March 19, 2015 announced Qiwi the violations revealed by the Central Bank during the work with electronic money. Qiwi warned about the probability of emergence of additional claims from the Central Bank.
About revealed by the Central Bank (Central Bank) of a row of violations of the law of the "On the National Payment System" (NPS) of Qiwi reported in the annual report. The regulator revealed violations in the fall of 2014, during the procedure of observation of QIWI Bank - clearing bank of a system. They are connected with failure to follow the set requirements and standards in the field of electronic money. The Central Bank issued the instruction about elimination of violations.
According to the Law "About NPS", the issuer of electronic money banks or non-bank credit organizations should act. QIWI Bank - the issuer of electronic money for the Visa Qiwi Wallet (VQW) system - the product started by Qiwi with the participation of Visa.
In the report of Qiwi it is specified about readiness of the plan of the step-by-step elimination of violations developed by QIWI Bank. As of March 19, 2015 all comments of the Central Bank are resolved, is told in the report.
In 2013 QIWI Bank faced claims of the Central Bank. In the summer of 2013 the regulator revealed in bank of violation of a number of the standards set to them and a weak internal control system. Violations eliminated, and the bank paid a penalty in the amount of 150 thousand rubles (the company noted that it is minimum possible size of a penalty).
A bit later the Central Bank was disturbed by the sharp growth of the amount of the deposits placed by individuals in bank and obliged QIWI Bank instead of the monthly reporting daily to provide reports on the activity.
Qiwi warned investors: in the future there can be new notes of the Central Bank. In particular, the product VQW offers users anonymous cards of Visa, both virtual, and plastic. Such card allows payment of goods (within the available advance payment) both services in normal and the online stores accepting Visa cards.
However in the Russian legislation there is no completely worked mechanism of regulation of the address of similar prepaid cards. In 2014 Qiwi held consultations with the Central Bank on this matter in this connection, in the future, the Central Bank can publish the corresponding standards or point to violations in this sphere.
Probable sanctions from the Central Bank can raise questions in relationship with Visa. According to the agreement between the parties, QIWI Bank has all necessary permissions for work with cards of Visa. In case of lack of like that Visa can stop cooperation with bank. At the time of the publication of this material all necessary permissions and licenses are available for QIWI Bank, noted in Qiwi.
The Qiwi group purchased a money transfer system of Contact and NPO of Slow motion
On June 25, 2015 details of implementation of the transaction of acquisition of the Contact and "Rapida" systems became known. The Qiwi payment system and the Opening group provided to the friend to the friend of a guarantee for the amount up to 4 billion rubles on a case of non-performance of terms of transaction on purchase of Qiwi of the systems of Slow motion and.
In May, 2015 the parties agreed that the Qiwi will receive control over these two companies in exchange for what Opening will become the owner of 5.59 million stocks of Qiwi (9.3% of the total number of stocks of Qiwi at the time of end of this transaction). It is about actions of the class "B" (one action - one voice). In a cash equivalent transaction amount will be 8 billion rubles.
The Opening group got a payment system of Slow motion in 2012 together with purchase of "Nomos-bank" (now - Otkrytiye bank). A system works in a b2b-segment, providing to shops and banks a possibility of the organization of payment acceptance. In 2014 Otkrytiye agreed with the owner of Russlavbank Abdulzhelil Abdulkerimov about receiving control over Contact money transfer system then system operation is transferred to the non-bank commercial institution (NBCI) of Slow motion.
As a result of the transaction of Qiwi should receive 100% a share in Siayeychrus LLC which through Attenium LLC owns NPO of Slow motion. But now the Opening group through the Cyprus offshore of Otkritie Investments Cyprus owns only 70% of shares in Siayeychrus, and the remained 30% belong to certain Investaktiv LLC.
According to data of Contour-Focus base, behind Investaktiv there is a Cyprus offshore of Charter View Trading which also owns Vektor-Leasing company. In the Opening group let know - this structure it is not connected with them. Before 30% the share in holding, to integrating Slow motions and Contact, belonged to Abdulzhelil Abdulkerimov.
At the first stage of the transaction passes 70% to Qiwi a share in Siayeychrus in exchange for what Opening receives 3.9 million shares of Qiwi (6.4% of total number). Further the Opening group should receive the share which remained 30% in Siayeychrus and transfer it Qiwi in exchange on 1.7 million stocks of payment system (2.9% of total number). Completion of the transaction is planned until the end of 2015.
At the same time the Opening group signed the agreement on vote with the largest shareholder of Qiwi - the offshore Saldivar Investments belonging to the CEO of payment system Sergey Solonin. At Qiwi shareholder meeting Solonin undertook to vote for election in Board of Directors of a system of the chairman of the board of directors of Otkrytiye bank Evgeny Dankevich or another candidates of the Opening group.
The parties provided each other mutual guarantees about accomplishment of terms of transaction. In particular, the Opening group guarantees that the assets sold to it are in "a proper status": to them any claims, a tax complaint and penalties for the amounts more than 40 million rubles are not made, they have all necessary licenses, permissions to use of software, etc. Also before completion of the transaction Siayeychrus, should not sell assets without the permission of Qiwi, make capital investments and other transactions for the amount more than 40 million rubles.
The complete list of the legal entities which are among the sold assets, and the employees working in them in number of 270 people is listed in the agreement. The real estate in Moscow which is rented by the sold companies is designated. These are 11 premises with a total area of 1.5 thousand sq.m from which 430 sq.m are rented at Russlavbank and six premises with a total area of 1035 sq.m at the All-Russian institute of scientific and technical information.
In case of non-performance of any terms of transaction or mismatch of the stated information of Qiwi can make a complaint for total amount no more than 4 billion rubles. The same way, if the Qiwi does not satisfy any conditions, for example, regarding issue of the stocks, Opening can make to Qiwi a complaint for total amount to 4 billion rubles.
"Opening" and Qiwi agreed also about creation of special committee which will consider the possibilities of cooperation between two parties. It is supposed that the Otkrytiye bank will become the main partner of Qiwi in banking sector and can become clearing bank for NPO of Slow motion (now Slow motion independently services the payments). Besides Qiwi undertook that within two years from the moment of transaction not less than 50% of payments of the Contact system will pass through Otkrytiye bank.
Opportunity is provided that Opening will redeem back banking license and the Slow motions electronic payment system, the parties will issue jointly prepaid cards and to organize the loyalty program, and Otkritie bank will be able to use the Contact and "Rapida" trademarks.
The representative of the Opening group explained that the technology of e-wallets of Slow motion can be used beyond the scope of the system of Slow motion, but it is only about an opportunity. The source close to the parties of the transaction explained that though Slow motion and began with e-wallets, now its business is concentrated on a b2b-segment therefore this direction is not of interest to Qiwi.
The Australian Platinum Investment increased a share in Qiwi to 10%
The Australian holding Platinum Investment Management increased a share in the largest Russian company of instant payments Qiwi before 2.35 million actions (10.2% of capital stock). It is said in the statement of fund. As reported Lenta.ru in the press service of QIWI, as of December 31, 2013 in a portfolio of the investor there were 317.9 thousand not voting shares (1.3% of capital stock). Earlier, in September, 2013 the holding announced ownership of 397.9 thousand actions (1.7%). At the same time the total amount of not voting shares of QIWI is 23.02 million. All of them are on sale in free financial market.
Growth of revenue by 48% up to 6.17 billion rubles.
- The Qiwi payment system published financial results for 2013. The corrected net proceeds of the company (The Qiwi considers the most optimal for assessment of its activity the so-called corrected indicators) grew by 48% up to 6.17 billion rubles. The corrected indicator of EBITDA (a profit before taxes, depreciation expenses and percent on the credits) grew by 91% up to 2.98 billion rubles, the corrected net profit increased by 66% to 2.17 billion rubles.
- Business of Qiwi consists of two parts: payment terminals and electronic money (Qiwi of Visa Wallet). Revenue from a segment of payment terminals increased by 12% to 3.18 billion rubles. And here revenue from electronic money grew by 132% up to 2.88 billion rubles.
- For July, 2013 the Qiwi payment system includes about 13 million virtual wallets, more than 165,000 booths and terminals, and with its help more than 47,000 trading companies accept monthly payments (in a monetary and electronic form) for the amount over 41 billion rubles from more than 60 million clients who use services of its network at least once a month.
Submitted Qiwi the registration application form for the IPO
The provider of payment services Qiwi announced in March, 2013 submission of the registration application form in the U.S. Securities and Exchange Commission in connection with expected primary public placement of the class B shares in the form of the American depositary receipts (ADR). The number of the placed class B shares and price range of expected placement are not defined now.
Joint managers and bookrunners of the expected IPO appoint J. P. Morgan Securities and Credit Suisse Securities (USA). Co managers appoints Robert W. Baird & Co., Renaissance Securities (Cyprus) and William Blair & Company.
The registration application form concerning the specified securities was submitted to the U.S. Securities and Exchange Commission, but at the moment did not become effective yet. Until entry into force of the registration application form the specified securities cannot be on sale, and offers on their purchase cannot be accepted.
The American depository stocks (ADS) of QIWI company certifying the rights concerning actions of class "B" were placed in October, 2013 at the Moscow Exchange. The uniqueness of the transaction consists that for the first time in the history of the Russian security market the American securities addressing on NASDAQ acted as subject to placement. Thus, it gives the chance to the Russian investors to trade in securities at the biddings organized by the Moscow Exchange.
Loaves - the new financial director
On July 4, 2013 Alexander Karavayev was appointed to the position of the chief financial director (CFO) of Qiwi. Mr. Karavayev replaced in this position of Evgeny Filimonov who since July 4, 2013 continued the work in the company as the internal auditor of QIWI.
Share placing on Nasdaq
In October, 2013 within secondary share placing of QIWI sold at the NASDAQ exchange 8.197 million not voting shares at the price of $30.5. After placement the share of the chairman of the board of directors of QIWI Andrey Romanenko made 8.5% of voting shares. At board members Andrey Muravyov and Igor Mikhaylov is according to 4.4% and 2.9%. Major shareholders of the company - the chief executive Sergey Solonin (40.5% of voting shares) and the board member Boris Kim (10.6%).
The Qiwi prepares for moving to public clouds
According to the strategy of Qiwi, all IT infrastructure of the company within the next several years should become set of public and private clouds, the Deputy Chief information officer of Qiwi Alexey Arkhipov told in September, 2013.
According to him, a considerable part of data of the company will be transferred to public clouds, and most business critical data will remain in a private cloud, at least, in five-year perspective, he says.
The private cloud in Qiwi is already unrolled, representatives of the company tell. So, the server framework was transferred to a cloud environment: if the company needs any service, it is selected from its private cloud.
In 2013 Qiwi also implemented the cloud storage system from IBM including more than 1000 drives HDD and several terabyte of Flash-memory. According to representatives of the company, new cloud DWH with a capacity about 200 TB allowed to increase number of the serviced payment transactions and to receive decrease in total cost of ownership the storage environment within 20%.
The deputy director on IT of Qiwi told TAdviser that in the next 2-3 years the company is going to strengthen the cloud infrastructure which is already existing at it and to complete creation of a private cloud in order that then broadcast of data in a public cloud was transparent.
According to Alexey Arkhipov, selected Qiwi whether at once to go completely to cloud infrastructure or to take intermediate steps. One of the key factors which stopped it from the first was the fact that the majority of cloud services cannot issue the guaranteed power of disk subsystems, he says.
IT infrastructure of Qiwi is located on leased squares in two geographically distributed DPCs in Russia, tell in the company. Besides, the Qiwi uses also DPCs abroad. Initially the company had own data center in Russia, however in 2007-2008 was decided to refuse it for benefit of placement of systems in third-party DPCs.
The server framework of Qiwi is based, mainly, on the equipment of HP based on the Intel processors Itanium, the Deputy Chief information officer of the company told TAdviser. According to him, the Qiwi considers the possibility of their replacement by servers from IBM. It is connected, first of all, with the fact that the license Oracle DBMS which is used by the company for servers based on Itanium are more expensive, Alexey Arkhipov explained.
80 million unique users and 2 billion payments
- In the territory of Russia more than 100 thousand of QIWI of Terminals work.
- Annually using QIWI of Terminals the regular and necessary payments are paid by more than 80 million unique users.
- Through a processing center of QIWI every year there pass more than 2 billion payments.
- Using a payment service of QIWI only in Russia it is possible to pay services and goods more than 27 thousand companies.
Growth of turnover by 14% to 417 billion rub
QIWI Group turnover in 2011 grew by 13.9% and made 417 billion rubles.
Network of 100 thousand terminals
As of January, 2011 the QIWI owns network more than from 100 thousand payment terminals. It is the unconditional leader, occupying a half of the market of instant payments.
During this period enter into the Qiwi group also:
- organizer of electronic lotteries Lotointegrator,
- the system of advertizing on payment terminals "Qiwi advertising" (being "Direkt contact"),
- and since the end of 2010 - "the 1st processing bank" and
- producer of the fiscal equipment for Paykiosk payment terminals.
- Since January, 2011 retail the Qiwi-program in compliance with which the payment system rents the areas at retailers began to work and then transfers them to agents. The Qiwi reached the corresponding agreements with retail networks MTS and "Megafon" and also with X5 holding (integrates networks "Kopek", "Intersection", "Pyaterochka" and "Roundabout").
- Since March 15, 2011 Qiwi stopped accepting payments for replenishment of accounts in Yandex.Money. Also the Qiwi will turn off acceptance of money for benefit of 10 more systems: Delta Key, IntellectMoney, Money Money, MoneyMail, RBK Money, WebCreds, Webtransfer, Z-Payment, "Монета.ру" and Rambler plus, the PR-director of Qiwi Aleksandra Vysochkina specified the Purse is unavailable.
The strategy of Qiwi — to provide all range of payment services directly, without intermediaries to provide "the best quality of service at the minimum price", she explains. Cooperation will continue only with systems which "supplement a product line of Qiwi". For example, with Webmoney.
In 2009 Yandex.Money and Webmoney borrowed, according to Electronic money association, 90% of the market of Internet payments, their users recharged on 17 billion rubles Yandex.Money and thought to stop cooperation with Qiwi, the representative Asya Melkumova claims them. The reason she calls unwillingness of Qiwi to reduce the commission for replenishment of purses in Yandex.Money. In December, 2010 the commission grew from 2 to 6%, and considering that the margin is done also by agents of Qiwi — owners of terminals, users are forced to overpay to 20%, Melkumova specifies. Whereas, for example, salons of Euroset and MTS levy cash from 0 to 2.5% for replenishment of e-wallets, when entering money from the card of any bank via ATMs and terminals of Sberbank the commission makes 1.5%. And at the end of February, 2011 Yandex.Money permitted to charge money from the card of any bank without the commission at all.
30-50% of input of means in payment systems are the share of all canals of replenishment of e-wallets cash (including terminals), the development director of WebMoney Pyotr Darakhvelidze estimates. The representative of several payment systems of Runet agrees with this assessment. Availability of Yandex.Money will decrease, but not considerably: their users will become more active to use alternative input channels of money — terminals of other payment systems, bank cards, etc., the chairman of the board of association Electronic money Victor Dostov counts.
Melkumova from Yandex.Money does not say what part of receipts is entered into e-wallets of this system via terminals of Qiwi. But terminals of Qiwi were never the main source of replenishment of Yandex.Money, she assures, and for the last year the flow of the means which are entered into a system through Qiwi was reduced "many times". Now flows of input will just be redistributed to other canals, Melkumova hopes.
Actions of Qiwi prove that its "Qiwi the purse" became full-fledged means of payment, the chief executive of the producer of the online games Drimmi Victor Zakharchenko agrees. On the other hand, it is the reply of Qiwi to unwillingness of Yandex.Money to permit the users to transfer money to "Qiwi a purse", he is sure. For the same reason in future Qiwi can prohibit also replenishment of WebMoney, it does not exclude. Webmoney, according to Darakhvelidze, have no plans to change a format of partnership with Qiwi.
I quarter: Growth of turnover by 2.5 times
For the I quarter 2011 turnover of a system grew by 2.5 times in comparison with the same period of 2010 to 11.6 billion rubles, the average payment increased by 63% to 423 rub, the amount of average replenishment — to 870 rub (growth more than twice). The number of active purses of Qiwi makes 7 million.
Net profit of $23.88 million
Follows from the materials Mail.ru Group that the net profit of Qiwi in 2010 reached $23.88 million. Outflow of agents of Qiwi payment system to competitors in 2010 was about 10%, the chairman of the board of directors of the company Boris Kim told CNews. However, at the expense of new agents the total number of terminals grew for 2010 by the same 10%, having exceeded 110 thousand.
Mail.ru Group sold 3.75% of shares of Qiwi of $24.1 million
In December, 2010 the Mail.ru Group company sold 3.75% of the shares Qiwi Investment for $24.1 million. The Japanese corporation Mitsui&Co which it at the same time acquired 11.05% of shares of Qiwi at its founders for $72.1 million acted as the buyer (purchase of shares of Qiwi was performed in proportion to shares of its shareholders).
Proceeding from transaction amount, all costs to Qiwi $644 million. For 2010 the company did not report yet, but the source familiar with terms of transaction reported to CNews that by Qiwi it was estimated approximately at 20 indicators of EBITDA for last year. Respectively, the indicator of EBITDA for 2010 was about $32 million.
Assessment of Qiwi in $644 million was more likely conservative, the president of Finam Vladislav Kochetkov notes. "For example, it is possible to remember that organizers of IPO Mail.ru Group which passed in November, 2010 estimated this asset at $ dollars 773 million, - Kochetkov says. - However, Mitsui – not only the financial investor, but also the strategist capable to give to the company additional support. She can assume certain discounts".
In total Mitsui&Co acquired 14.9% of shares of Qiwi. Mail.ru Group share at the same time decreased to 21.4%, a share of founders - to 63.7%. As a result of the transaction the shareholders' agreement of Qiwi was changed: for adoption of key solutions it will be necessary to collect more than 90% of stocks (earlier the level was lower — more than 75%). Thus, all three shareholders have the rights of owners of blocking stakes.
- Outflow of agents of Qiwi payment system to competitors in 2010 was about 10%, the chairman of the board of directors of the company Boris Kim told CNews. However, at the expense of new agents the total number of terminals grew for 2010 by the same 10%, having exceeded 110 thousand. Qiwi got rid of one of the reasons for which agents leave to competitors at the end of 2010.
Agents of Qiwi earn from remunerations from providers for effected payments and the user commission which, with a number of restrictions, they have the right to set independently. The most popular service commission — payment of cellular communication — can make from several percent to tens of percent (so high commission meets at stations, zones of a departure of the airports, etc.), in general on the market the average commission for 2010 grew from 5.7% to 8%. At the same time the agent not in the right to charge the fee in Qiwi Wallet payment system for the amount over 500 rub — from such payments agents earn for account replenishment only rewards from Qiwi in the amount of 1%.
As payments from "Qiwi Wallet" for such services as cellular communication, Internet access, a pay TV, etc. the commission are not assessed, this service became a convenient method of a bypass of agency commission. Until recently the client could put using the terminal money for the account "Qiwi Wallet", and from there translate them to the provider. There was also faster scheme of work with "Qiwi Wallet": the subscriber could make without replenishment of a purse transit payment for benefit of necessary provider, for this purpose was to become authorized only on the terminal enough.
However now there is no such opportunity: in November, 2010 transit payments, and in December — transfer from the terminal of money from "Qiwi Wallet" for benefit of cellular operators and electronic payment systems were closed (replenishment of electronic money of Qiwi assesses with own commission 5% that does not save from payment of the commission to agents). An opportunity to fill up "Qiwi Wallet" from the terminal remained, but for payment of two listed services it will be necessary to visit the website of Qiwi on the Internet or to use the application for the smartphone.
At the user an opportunity to use on the Qiwi Wallet terminal as the notebook remains: it saves every time from need to enter numbers of the paid bills, but does not save from agency commission. The analogs of Qiwi Wallet service created by the competing systems, in particular, of Cyberplat also do not allow users to bypass payment to agents of the commission.
According to Boris Kim, such solution was the compromise designed to save balance of interests between users, agents and the system. Kim assures that not only agents, but also a system will benefit from the introduced restrictions. "We are not interested in clients who have no Internet access or is registered in Qiwi bag only for payment of cellular communication without the commission, - the representative of Qiwi says. - We need loyal audience of service, and in the future on the terminal through "Qiwi Wallet" in general it will be impossible to pay any services, performing only account replenishment".
The advantage will be also for clients, Kim is sure:
"Payments through "Qiwi Wallet" require more time, than usually that can create queues around terminals".
The performed innovations did not affect popularity of "Qiwi Wallet": for the I quarter 2011 turnover of a system grew by 2.5 times in comparison with the same period of 2010 to 11.6 billion rubles, the average payment increased by 63% to 423 rub, the amount of average replenishment — to 870 rub (growth more than twice). The number of active purses makes 7 million.
2009: Turnover of a system of 334 billion rub
QIWI Ltd turnover in 2009 made 334.4 billion rubles from which earned by Qiwi 6.1 billion rubles of EBITDA ― 785 million rubles, and net profit ― 467 million rubles. In 2009 in comparison with 2008 its turnover grew almost by one and a half times, and net profit — approximately by 25 times.
2008: Consolidation of systems e-port and OSMP
At the end of 2008 consolidation of payment systems e-port and ISIP (Integrated System of Instant Payments) came to the end.
- ↑ A contradictory agiotage around Qiwi. Its shares for $60 million were taken by Dutches
- ↑ Otkrytiye takes with a huge award shares of Qiwi for $690 million
- ↑ Foreign investors amicably run from Qiwi
- ↑ by Qiwi not could subdue neither America, nor Europe
- ↑ At the Central Bank questions to electronic money of Qiwi appeared
- ↑ Contact#ixzz3eAnRy1KU As bought Qiwi to Slow motion and Contact
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