Sberbank - FIX PRICE GROUP LTD (FIXP) ... CIS Market Daily - March 1, 2022

Report

Sberbank

Anastasia Khakhaeva ...

Andrew Keeley
Andrey Gromadin
Anton Stroutchenevski
Artem Vinogradov
Arthur Cherkesov
Cole Akeson
Ekaterina Usanova
Fedor Kornachev
Konstantin Samarin
Mikhail Krasnoperov
Research Team

CIS Market Daily - March 1, 2022

MARKET COMMENT - MSCI RUSSIA -27% D-O-D WHILE RUSSIA-UKRAINE, SANCTIONS NEWS CONTINUE TO DOMINATE INVESTOR ATTENTIONEquity trading in Moscow was canceled for yesterday and today. The government announced a range of measures to stabilize the Russian financial environment, but the measures also create risks for institutional investors. The MSCI Russia fell 27% yesterday, while Russia-Ukraine developments, sanctions news and the OPEC+ discussion are the obvious areas of focus today.STORIES> MSCI to consider urgent consultation to remove Russia from the MSCI EM> Government announces controls over nonresident repatriation, resident FX transactions> What monetary authorities are doing to stabilize financial sphere> New decree might impact dividend, debt payments; introduces buyback flexibility> Kaspi 4Q21 IFRS review: Still performing excellently> Rostelecom 4Q21 IFRS preview> VEON 4Q21 IFRS results: In line, no guidance for 2022> Fix Price 4Q21 IFRS review: EBITDA margin 20 bps above consensus, 73% dividend payout for 2H21

01/03/2022 1 EN

Underlyings

FIX PRICE GROUP LTD

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US33835G2057 London Stock Exchange Russia

Kaspi kz

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US48581R2058 London Stock Exchange Kazakhstan

Rostelecom (PREF A)

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RU0009046700 Moscow Exchange MICEX-RTS Russia

Rostelecom PJSC

Rostelecom PJSC provides communication services (including local, intra-zone, long-distance domestic and international fixed-line telephone services, mobile services), data transmission, Internet, Pay TV, VPN and data centers services, rent of communication channels and radio communication services in the territory of Russian Federation. Co. operates the main intercity network and the international telecommunications gateways of the Russian Federation, carrying voice and data traffic that originates in its own network and other national and international operators' networks to other national and international operators for termination.

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RU0008943394 Moscow Exchange MICEX-RTS Russia

VEON

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VimpelCom Ltd. ADS

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US92719A1060 Berlin Stock Exchange United States

Provider

Sberbank

Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.

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Analysts

Anastasia Khakhaeva

Andrew Keeley

Andrey Gromadin

Anton Stroutchenevski

Artem Vinogradov

Arthur Cherkesov

Cole Akeson

Ekaterina Usanova

Fedor Kornachev

Konstantin Samarin

Mikhail Krasnoperov

Research Team

Other Reports on these Companies

GlobeNewsWire

Announcement of Extraordinary General Meeting Results

Announcement of Extraordinary General Meeting Results ALMATY, Kazakhstan, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz (Nasdaq: KSPI) announces that the following resolutions were duly passed at its Extraordinary General Meeting on 19 November 2024: To approve the agenda of the Extraordinary General Meeting of Shareholders of JSC Kaspi.kz:1) Approval of the agenda;2) Payment of dividends on common shares of JSC Kaspi.kz and approval of the amount of dividend per common share;3) Approval of amended Charter of JSC Kaspi.kz;4) Election of the Board Member due to resignatio...

November 20, 2024 November 20, 2024 1 EN

Wood and Company

The Rear-View Mirror – EME markets: only the Czech Republic in the black in October

EME Equity Market – October 2024 A red October for the EME indices, only Czechia in positive territory. The MSCI EM Europe Index declined by 6.0% in EUR terms and 8.4% in USD terms in October. The Czech PX index was the only one spared, adding 1.3% mom in EUR terms. Türkiye was battered the most, with the Turkish ISE30 declining by 7.3% mom in EUR terms, followed closely by the Polish WIG20 (-6.7% mom in EUR terms). Greece fell 4.8% mom in EUR terms, while the Hungarian BUX index lost 2.7% mom in EUR terms, and the Romanian BET closed with a loss of 1% mom in EUR terms.

November 4, 2024 November 4, 2024 1 EN

Wood and Company

WOOD Daily: KSPI US; ALARABIA AB; SOLUTION AB; HTO GA; GR macro/banks; PEO PW; CPS PW; GPP PW; ETEL EY

HEADLINES: • Kaspi.kz: agrees to acquire Türkiye's Hepsiburada NEUTRAL • Kaspi.kz: 3Q24 highlights - on track to meet guidance NEUTRAL • Al Arabia: MBC Group sells 4.9% of shares of Al Arabia NEGATIVE • Solutions by STC: establishment of JV with Jedco completed NEUTRAL • OTE: ANAF imposes EUR 33.5m in additional tax charges related to alleged VAT and CIT miscalculations NEGATIVE • Greece macro/banks: BOG increases the countercyclical capital buffer rate to 0.25%, with effect from October 2025E NEUTRAL • Bank Pekao: 3Q24E preview (due on 7 November) • Cyfrowy Polsat: 3Q24E preview - 11% increas...

October 21, 2024 October 21, 2024 1 EN

Russian Consumer - Unemployment and Income: The Outlook for 2022

In its modern history, Russia has not suffered any major spikes in joblessness. Its unemployment rate has ranged from between 4.8% and 8.3% since 2005 (versus 3.6-9.9% in the US for the same period). However, considering the sectors currently affected and companies scaling down operations in Russia, we see 1.1 mln out of the total 71 mln jobs at risk. But because this comes amid a labor shortage, which emerged in late 2021, companies are aiming to hold on to personnel, while the government is announcing extra social support measures. In a conservative scenario, the unemployment rate could go u...

March 24, 2022 March 24, 2022 1 EN

Andrew Keeley ... (+3)

Andrew Keeley
Arthur Cherkesov
Ekaterina Sidorova

Russian Banks - What We Know at This Stage

In this note, we sum up a few thoughts on the current situation for Russia's banks.> Immediate pressure weathered... Since the initial brief depositor panic in late February, deposit flows have stabilized and even turned into net inflows as banks have hiked short-term deposit rates to around 20%, in line with the key rate.> ... and the CBR has experience of crises. The CBR is well versed in supporting the banking system through crises and has already made important moves in providing liquidity and capital forbearance. The banking sector recapitalization that we saw in 2008-09 and 2014-15 is no...

March 24, 2022 March 24, 2022 1 EN

Anton Stroutchenevski ... (+6)

Anton Stroutchenevski
Artem Vinogradov
Cole Akeson
Dmitry Troshin
Georgiy Ivanin
Research Team

CIS Market Daily - March 24, 2022

MARKET COMMENT - TRADING TO RESUME FOR DOMESTIC INVESTORS AHEAD OF THE NATO-G7-DM SUMMIT AND NEW SANCTIONSEquity trading resumes today after a four-week suspension, but nonresidents and short-sellers will not yet be welcomed back. In focus will be the summit of NATO, the G7 and the rest of the developed world, which was called to discuss the evolving responses to Russia's so-called "special military operation" against Ukraine. STORIES> Equity trading to resume today - but not for nonresidents> "Unfriendly" countries to pay for Russian gas in rubles> Weekly inflation still elevated at 1.9%; inf...

March 24, 2022 March 24, 2022 1 EN

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CIS Market Daily - March 1, 2022

Announcement of Extraordinary General Meeting Results

The Rear-View Mirror – EME markets: only the Czech Republic in the black in October

WOOD Daily: KSPI US; ALARABIA AB; SOLUTION AB; HTO GA; GR macro/banks; PEO PW; CPS PW; GPP PW; ETEL EY

Russian Consumer - Unemployment and Income: The Outlook for 2022

Russian Banks - What We Know at This Stage

CIS Market Daily - March 24, 2022

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