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    TCS   US87238U2033

TCS GROUP HOLDING PLC

(TCS)
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TCS Group Holding PLC reports record quarterly -2-

05/11/2021 | 03:01am EDT

Superior and innovative product offering combined with targeted marketing activities secure Tinkoff's place as a leading fintech brand ? In January Tinkoff Insurance became a partner of Sber's insurance marketplace. Now customers on the Sber

marketplace can purchase both voluntary KASKO and mandatory OSAGO car insurance policies. ? In January Tinkoff integrated its Oleg voice assistant into its own contactcenter, aiding customer service

representatives in dealing with customer queries. ? In February Tinkoff launched Tinkoff Checkout, an online and offline payment service for legal entities which

operates as a one-stop shop, enabling companies to take care of all of their online and offline financial needs in

one place. ? In February Tinkoff Business launched "Business Saving Box" - a service that allows our SME customers to

automatically save and allocate their income for various purposes such as taxes, rent, salaries, etc. ? In April Tinkoff launched Russia's first digital BNPL (buy-now-pay-later) service Dolyame.ru. The new platform

facilitates combines the advantages of online acquiring and installment plans. Buyers can pay for goods in

installments without incurring interest, and sellers can immediately receive the full purchase price in their

account without delays. ? In April Tinkoff acquired a majority stake in Beskontakt LLC, the developer of Koshelek digital wallet, an

aggregator of banking cards and retail loyalty programs. The Koshelek app is a leader in its field, reporting the

highest number of users of any app in Russia and the CIS

Commitment to further improving our Investor Relations (IR) disclosure and ESG practices ? Tinkoff's senior management held a virtual Strategy Day for analysts and investors on 7 April 2021, where they

presented the Group's growth opportunities and medium term targets. The presentation and full replay of the event

are accessible on the Tinkoff IR website. ? In January all outstanding 69,914,043 Class B shares in the Group, held by trusts connected with Oleg Tinkov, were

converted to and reclassified as Ordinary shares (after 10,100,181 Class B Shares were converted to GDRs in

December 2020). Following this latest conversion and reclassification, Oleg Tinkov's voting rights in the Group

decreased to around 35% from 84% aligning all shareholders' interests ever more closely. ? In February 2021 Tinkoff's GDRs were added to the MSCI Russia Standard Index with a pro-forma weight of 4.69%. ? In February 2021 the Group announced the launch of an updated version of its management long-term incentive program

(MLTIP) and expansion of its Key-Employee Retention Programme (KERP). The updated equity-based MLTIP includes

awards currently totalling 5.35 mn GDRs and vests over 5 years starting from August 2021, while the cash-based

equity-linked KERP currently covers around 400 beneficiaries. With a view to financing this initiative, the Group

has announced a GDR buyback programme to repurchase up to 700,000 GDRs, with an aggregate purchase price not

exceeding USD45 mn. ? Tinkoff is now presenting two new customer metrics: "Total customers", which represent customers that have utilised

a Tinkoff product and have not closed it. "Active customers", which represent customers that have generated revenue

for Tinkoff over the previous month.

Tinkoff has revamped its segmental financial reporting to provide further insight into its growth and profit drivers. Tinkoff now presents its P&L across 7 different segments: Consumer Finance, Retail Debit Cards (Tinkoff Black), SME Services (Tinkoff Business), InvestTech (Tinkoff Investments), Acquiring and Payments, InsurTech and MVNO Services.

In April 2021 Tinkoff Group became a signatory to the Global Principles for Responsible Banking, as developed by the United Nations Environment Programme Finance Initiative, the largest UN partnership with the finance industry or the worldwide community of nearly 400 banks, insurers and investors ? Tinkoff is progressing its latest Sustainability Report which it expects to publish in June 2021.

Corporate governance enhancements and new management appointments ? In March with the aim of developing and promoting its outstanding talent, deepening the management bench and

continuing to strengthen the Group's corporate governance, Tinkoff announced that Oliver Hughes was appointed

Executive Director of the TCS Group Board of Directors as part of its expansion. At the same time, Stanislav

Bliznyuk was appointed Chairman of Tinkoff Bank Mangement Board and George Chesakov was appointed as Chairman of

Tinkoff Bank Board of Directors. ? In April Neri Tollardo was promoted to Vice President, Director of Strategy from his previous role of Head of

International Investor Relations and Partnership Projects. At the same time, Andrey Pavlov-Rusinov joined the

company as the new Head of International Investor Relations and Partnership Projects. Andrey was previously the

lead equity analyst for Russia & CIS Financials at Goldman Sachs Russia. ? In April Anton Malkov joined Tinkoff as Head of Capital Markets Transactions Management to develop the ECM and DCM

businesses with a focus on new-economy companies. Previously, Anton served as the Managing Director of Sberbank

CIB's Global Markets Department, where he was engaged in ECM development and supervised DCM and M&A from 2015-2018

In May Tinkoff announced that five new independent, non-executive directors (INEDs) would be joining the Tinkoff Group Board of Directors. Ashley Dunster, Masha Gordon, Margarita Hadjitofi, Nick Huber and Nitin Saigal have been appointed effective 11 May 2021. In addition, the Company will soon launc two new committees, a Risk and Emerging Risk ('Sustainability') Committee and a Strategy Committee. The Company envisages that the initial members of the Risk and Emerging Risk ('Sustainability') Committee will be Masha Gordon, Nick Huber and Margarita Hadjitofi (Chair), and of the Strategy Committee - Ashley Dunster, Masha Gordon, Oliver Hughes, Nick Huber, and chaired by Nitin Saigal.

CONFERENCE CALL INFORMATION

Tinkoff management team will host an investor and analyst conference call at 2:00 pm UK time (4:00 pm Moscow time, 09:00 am U.S. Eastern Daylight Time), on Tuesday, 11 May 2021.

The press release, presentation and financial statements will be available on the Tinkoff website at https:// tinkoffgroup.com/financials/quarterly-earnings/

To participate in the conference call, please use the following access details:

                          6013898 
Conference ID 
 
 
 
                          +7 495 213 1767 
Russian Federation 
                          8 800 500 9283 
Toll-free 
 
United Kingdom            +44 (0)330 336 9126 
Toll-free                 0800 358 6377 
United States of America  +1 323-794-2094 
Toll-free                 800-263-0877 

A live webcast of the presentation will be available at:

https://www.webcast-eqs.com/tcsgroup20210511

Please register approximately 10 minutes prior to the start of the call.

For enquiries: 
Tinkoff                         Tinkoff 
Artem Lebedev                   Larisa Chernysheva 
PR Department                   IR Department 
+ 7 495 648-10-00 (ext. 2202)   + 7 495 648-10-00 (ext. 2312) 
Alexandr Leonov                 Andrey Pavlov-Rusinov 
+ 7 495 648-10-00 (ext. 35738)  + 7 495 648-10-00 
pr@tinkoff.ru                   ir@tinkoff.ru 
 

About Tinkoff Group

TCS Group Holding PLC is an innovative provider of online retail and SME financial services. It includes Tinkoff Bank, its mobile virtual network operator Tinkoff Mobile, Tinkoff Insurance, its asset management company Tinkoff Capital, Tinkoff Software DC, a network of development hubs in major Russian cities, and Tinkoff Education. The Group is currently developing Tinkoff ecosystem, which offers financial and lifestyle services.

The Group was founded in 2006 by Russian entrepreneur Oleg Tinkov and has been listed on the London Stock Exchange since October 2013.

The Group's key business is Tinkoff Bank, a fully online bank that serves over 13 mn customers and forms the core of the Tinkoff ecosystem. Tinkoff is the 3d largest retail bank in Russia in terms of active client-base.

Tinkoff Bank is the second largest player in the Russian credit card market, with a share of 14.3%. The 1Q'21 IFRS net profit of TCS Group Holding PLC amounted to RUB 14.2 bn. The ROE was 43.7%.

With no branches, the Group serves all its customers remotely via online channels and a cloud-based call centre. The centre is staffed by over 10,000 employees, making it one of the largest in Europe. To ensure smooth delivery of the Group's products, the Group has a nationwide network of over 2,500 representatives.

Global Finance named Tinkoff Bank the world's Best Consumer Digital Bank in 2020 and 2018, and the Best Consumer Digital Bank in Russia in 2020, 2019, 2018, 2016 and 2015. Tinkoff was also named the Best European Retail Bank of the Year by Retail Banker International in 2020. In 2021, the Banker recognised Tinkoff Bank as Russia's Best-Performing Bank. The bank's mobile app has been consistently praised by local and global independent experts as the best of its kind (in 2013, 2014, 2015, 2016 by Deloitte and in 2018 by Global Finance).

Forward-looking statements

(MORE TO FOLLOW) Dow Jones Newswires

May 11, 2021 03:00 ET (07:00 GMT)

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More news
Financials (USD)
Sales 2021 1 752 M - -
Net income 2021 784 M - -
Net Debt 2021 - - -
P/E ratio 2021 19,9x
Yield 2021 0,08%
Capitalization 15 604 M 15 604 M -
Capi. / Sales 2021 8,91x
Capi. / Sales 2022 7,86x
Nbr of Employees 25 970
Free-Float 78,5%
Chart TCS GROUP HOLDING PLC
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Technical analysis trends TCS GROUP HOLDING PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 64,12 $
Last Close Price 79,00 $
Spread / Highest target 26,6%
Spread / Average Target -18,8%
Spread / Lowest Target -62,0%
EPS Revisions
Managers and Directors
NameTitle
Oliver Charles Hughes Group Chief Executive Officer & Executive Director
Constantinos Economides Chairman
Martin Robert Cocker Independent Non-Executive Director
Ashley Dunster Independent Non-Executive Director
Masha Gordon Independent Non-Executive Director
Sector and Competitors