SISTEMA PUBLICFINANCIAL CORPORATION Sistema
Public Joint
Stock Financial
Corporation
Annual report
2022
02
CONTENTS
SISTEMA PJSFC Annual report 2022 | sistema.com | About the report | 03 |
1. | 3. | ||
COMPANY OVERVIEW | 6 | RESULTS OF KEY ASSETS | 36 |
Sistema today | 8 | MTS | 38 |
Investment Portfolio | 10 | OZON | 48 |
Segezha Group | 54 | ||
Etalon Group | 76 | ||
MEDSI | 84 | ||
Steppe AgroHolding | 98 | ||
Binnopharm Group | 108 | ||
Other consolidated assets | 116 | ||
4. | |||
CORPORATE GOVERNANCE | 142 | ||
Corporate governance system | 144 | ||
Remuneration policy applied to board | |||
members and senior management | 160 | ||
Integrated risk management system | |||
and the group's risk appetite | 162 |
2. | SUSTAINABILITY | ||
MANAGEMENT | 172 | ||
PERFORMANCE | Management system | 174 | |
OF THE CORPORATION | 12 | Responsible investment | 176 |
Strategy and governance model | 14 | Key ESG areas | 180 |
Financial overview | 26 | Social investments and activities | 188 |
Securities and share capital | 30 | 6. | |
AUDITED CONSOLIDATED | |||
FINANCIAL STATEMENTS | 190 |
04 | SISTEMA PJSFC Annual report 2022 | sistema.com |
About the report | 05 |
Responsibility statement
To the best of my knowledge (a) the consolidated financial statements, prepared in accordance with IFRS, give a true and fair view of the assets, liabilities, financial position and profit or loss of Sistema PJSFC and the undertakings included in the consolidation taken as a whole; and (b) the management report includes a fair review of the development and performance of the business and the position of Sistema
PJSFC and the undertakings included in the consolidation taken as a whole, together with a description of the principal risks and uncertainties that they face.
Yours sincerely,
President
Sistema PJSFC
About the report
This annual report contains information about the activities of Sistema Public Joint Stock Financial Corporation and its portfolio companies (hereinafter, "Sistema", "Sistema PJSFC" "the Corporation" or, together with its subsidiaries and affiliates, "Sistema Group", "the Group" or "the Group companies")
in 2022.
Unless otherwise stated, the financial results presented in this annual report are based on IFRS consolidated financial statements. The audit of Sistema's 2022 consolidated financial statements in accordance with IFRS was performed
by AO "Business Solutions and Technologies". The report also provides information about the Corporation's environmental, social and governance effectiveness.
The annual report may contain minor inaccuracies in the estimation of shares, percentages and amounts due to the rounding of numbers. There may be insignificant discrepancies between the data contained in this annual report and the data disclosed earlier due to the rounding differences.
For other annual reports of the Corporation please go to the Investors and Shareholders section on the company's website (www.sistema.com).
Disclaimer
Some of the statements in this annual report may contain assumptions or forecasts concerning the forthcoming or expected events at Sistema or its portfolio companies. Such forward-looking statements contain phrases like "expected", "estimated", "intended", "will", "could", negatives of such statements and other similar expressions. Such statements are assumptions only and the actual course of events and their results may differ significantly from those implied in the forward-looking statements. Sistema expressly disclaims any obligation to revise any forward-looking statements whether as a result of new events and circumstances that may arise in the future or to reflect any events that are not expected at
the time of compiling this report. The actual results of Sistema and its portfolio companies could differ materially from those expressed in the assumptions and forecasts of this annual report due to a number of factors.
Such factors may include general economic conditions, competitive environment, risks associated with the deterioration of the geopolitical situation and business operations in Russia, fast technological and market changes in the segments where Sistema and its portfolio companies operate.
06 | SISTEMA PJSFC Annual report 2022 | sistema.com |
Company overview | 07 |
COMPANY OVERVIEW
0810
SistemaInvestment
todayportfolio
08 | SISTEMA PJSFC Annual report 2022 | sistema.com |
Company overview | 09 |
Sistema today
SUSTAINABLE
TOP
20
Largest Russian companies by revenue (RBC)
TOP
20
Public Russian companies in Forbes Global 2000 rating
0.6%
Contribution to Russia's gross domestic product
Overview of Sistema Group
Sistema's strategic goal
To ensure long-term growth of shareholder value by boosting return on investments in the existing assets and reinvesting available cash in new investment projects to diversify its portfolio and increase return on investments.
Sistema's sustainability goal
To build competitive businesses with high added value that meet the principles of social and environmental responsibility and contribute to the sustainable development of industries and regions of operations and to the steady growth of socioeconomic and technological potential, human capital, quality of life and social well-being.
Sistema Group at a glance1
DESGV LOPMENT
Environmental - Social - Governance
11.5 Low ESG risk
Sustainalytics rating
Sistema Public Joint Stock Financial Corporation is Russia's largest public investment company and one of the country's systemically important companies. Founded in 1993, Sistema is today represented across over 20 high-potential sectors of the Russian economy, including telecommunications, forestry, agriculture, pharmaceuticals, healthcare, real estate and e-commerce. The Corporation's investment portfolio is made up mostly of Russian companies operating across Russia and in more than 25 other countries.
RUBRUB
912.7 310.4
billionbillion
Revenue | Adjusted OIBDA | ||
RUB | RUB | ||
RUB 1.8billion | №14 | 55% | ||
Social | out of 160 in RAEX | Independent | ||
investments | Europe list (ESG) | directors | ||
B
CDP Climate
Change Score
The Corporation's shares trade on the Moscow Exchange (ticker: AFKS) and on the London Stock Exchange in the form of global depositary receipts (ticker: SSA). One GDR represents 20 ordinary shares.
- 25 countries
- 20 industries
- 25 companies
19.4 | 2.1 | |||
billion | trillion | |||
Net profit | Assets | |||
RUB | Рeople | |||
158.6 | 177.4 | |||
billion | thousand | |||
Group | Headcount² | |||
investments |
Сredit rating
Publicly-traded assets
MOEX: MTSS | MOEX: SGZH |
NASDAQ | LSE |
MOEX: OZON | MOEX: ETLN |
AFKS | SSA | ruAA- | RAEX |
MOEX | LSE | credit rating | |
- As of the end of 2022.
- Headcount as of the end of 2022.
Attachments
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- Original Document
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Disclaimer
Afk Sistema OAO published this content on 28 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 April 2023 08:36:11 UTC.
