Sistema PJSFC Financial Results

4Q and FY 2021

April 2022

DISCLAIMER

Certain statements in this presentation may contain assumptions or forecasts in respect to forthcoming events within Sistema PJSFC or its portfolio companies. The words "expect", "estimate", "intend", "will", "could" and similar expressions identify forward-looking statements. We wish to caution you that these statements are only predictions and that actual events or results may differ materially. We do not intend to update these statements to reflect events and circumstances occurring after the above-mentioned date or to reflect the occurrence of unanticipated events. Many factors could cause Sistema's actual results to differ materially from those contained in our projections or forward-looking statements, including, among others, deteriorating economic and credit conditions, our competitive environment, risks associated with the deterioration of the geopolitical situation, rapid technological and market change in our industries, impact of COVID-19 pandemic on macroeconomic situation on the markets of presence and financial results of Sistema and its subsidiaries and associates, as well as many other risks specifically related to Sistema and its operations.

FINANCIAL REVIEW

ROBUST PACE OF BUSINESS GROWTH DRIVEN BY

STRONG PERFORMANCE OF PUBLIC AND NON-PUBLIC ASSETS

Group results

  • - Acceleration of revenue growth in 2021 due to strong performance by MTS, Segezha Group and Agroholding Steppe ("Steppe") as well as consolidation of Binnopharm Group's results.

  • - Strong pace of OIBDA growth due to strong performance by MTS, Segezha Group and Steppe.

Highlights in 4Q 2021 and after the reporting date

- Sistema sold an 8.7% stake in Segezha Group to Bonum Capital Ltd for USD 150 million (RUB 11 billion).

  • - The Corporation acquired its financial partner's stake in Binnopharm Group for a consideration of RUB 9.1 billion. As a result, Sistema's effective stake in Binnopharm Group increased to 75.3%.

  • - The Corporation completed the buyback programme launched in 2019, having paid out RUB 7 billion to buy back 315.2 million ordinary shares, representing 3.3% of Sistema's share capital.

  • - Sistema joined an initiative to create a National ESG Alliance. The Alliance's mission is to facilitate the transition to a sustainable economic development model.

  • - Sistema was rated among the top three companies in an ESG ranking of publicly traded Russian financial companies compiled by the National Rating Agency.

Consolidated revenue

RUB bln

+16.7%

225.7

193.4

4Q 2020

4Q 2021

Adj. OIBDA1

RUB bln

4Q 2020

4Q 2021

Top performing assets

FY 2021 (year-on-year)

Hereinafter, the results of the Corporate Centre are presented based on management accounts. Numbers may not add up due to rounding.

  • (1) Hereinafter, please see Appendix A to the financial results press release for 4Q 2021.

  • (2) Including the total volume of borrowings with the exception of cash and cash equivalents at the Corporate Centre level.

+16.0%

691.6

802.4

FY 2020

FY 2021

236.3

251.9

FY 2020

FY 2021

FINANCIAL REVIEW: 4Q 2021

Revenue in 4Q 20211

RUB bln

+16.7%

Binnopharm

225.7

193.4

Revenue MTS 4Q 2020

Group

SteppeSegezhaGroupMedsiOther assets, netRevenue 4Q 2021

Adj. OIBDA in 4Q 20211

MTS: maintained a strong pace of revenue and OIBDA growth due to increased consumption of telecom services and higher internet traffic; increased consumption of ecosystem services, including fintech and media solutions; higher sales volumes of handsets and accessories; and improved efficiency of the retail network.

Steppe: significant revenue and OIBDA growth thanks to a record harvest; higher prices for agricultural products; improved performance in international agrotrading; an increase in the number of highly productive livestock and higher gross yield; and the development of new business areas including exports of niche crops, production of packaged cheeses, and distribution of other dairy products and plant-based alternatives.

RUB bln

+13.0%

Segezha Group: revenue and OIBDA growth on the back of prices increased across all of the Group's product types, and also due to increases in the efficiency of Segezha Group's own logging operations and overall productivity.

2.2

1.6

2.3

1.4

-3.9

56.2

3.7

63.5

Binnopharm Group: double-digit revenue growth as a result of the position of Binnopharm Group products strengthening across different segments of the pharmaceutical market.

Adj. OIBDA

4Q 2020

MTSBinnopharm

GroupSteppe

OZON

Segezha GroupOther assets, net

(1) Binnopharm Group's financial results have been consolidated in Sistema's financial statements since 25 June 2021.

Adj. OIBDA

4Q 2021

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Afk Sistema OAO published this content on 07 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 April 2022 07:02:02 UTC.