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Earnings Review and Free Research Report: QIWI’s Q2 Results Outshined Forecasts

Research Desk Line-up: Security National Financial Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 6, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Qiwi PLC (NASDAQ: QIWI), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=QIWI, following the Company's announcement of its financial results on August 15, 2017, for the second quarter fiscal 2017 (Q2 FY17). The Nicosia, Cyprus-based Company's quarterly total adjusted revenue revenues grew on a year-over-year basis; beating market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Credit Services industry. Pro-TD has currently selected Security National Financial Corporation (NASDAQ: SNFCA) for due-diligence and potential coverage as the Company announced on August 25, 2017, its financial results for Q2 2017 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Security National Financial when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on QIWI; also brushing on SNFCA. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=QIWI

http://protraderdaily.com/optin/?symbol=SNFCA

Earnings Reviewed

During the quarter ended on June 30, 2017, QIWI's revenues increased to $81.1 million from $68.7 million recorded at the end of Q2 FY16. Meanwhile, the Company's total adjusted revenue was $49.7 million in Q2 FY17, up from $40.8 million in Q2 FY16. Total adjusted revenue for the reported quarter topped market forecast of $49.66 million. Furthermore, the total average adjusted net revenue yield was 1.36% in Q2 FY17, rising 8 bps from 1.28% in the prior year's comparable quarter.

The next generation payment services reported net profit of $18.2 million, or $0.30 per diluted share in Q2 FY17, up from $14.5 million, or $0.24 per diluted share in Q2 FY16. Meanwhile, the Company reported adjusted net profit of $18.3 million, or $0.30 per diluted share, for Q2 FY17 compared to $19.8 million, or $0.33 per diluted share, in the previous year's corresponding quarter. Meanwhile, Wall Street had expected the Company to report adjusted net profit of $0.26 per diluted share.

Operational Metrics

For the reported quarter, the Company's cost of revenue was $37.5 million, up from $32.6 million in the prior year's same quarter. The Company's selling, general, and administrative expenses (SG&A) also increased to $21 million in Q2 FY17 from $11 million in the year ago comparable quarter. Moreover, the Company reported profit from operations of $19 million during Q2 FY17 compared $23 million in Q2 FY16. Meanwhile, the Company's adjusted EBITDA stood at $49.0 million, or 49.6% of adjusted revenues, for Q2 FY17 compared to adjusted EBITDA of $25.5 million, or 62.6% of adjusted revenues, in Q2 FY16.

Cash Flow & Balance Sheet

During first six months of FY17, QIWI's net cash generated by operating activities were $5 million versus net cash used by operating activities of $17 million in FY16. At the close of books in the reported quarter, QIWI had $286 million in cash and cash equivalents compared to $216 million at the close of books on June 30, 2016. Furthermore, the Company has long-term debt instrument amounting to $19 million as on June 30, 2017, compared to $6 million as on June 30, 2016.

Dividend

In the earnings press release on March 23, 2017, QIWI's Board of Directors announced dividend of $0.21 per share. The dividend will be payable on September 01, 2017, to shareholder on record as of August 29, 2017. Moreover, the Company's ADS holders will receive the dividend shortly thereafter.

Outlook

In its guidance for full year FY17, the Company expected total adjusted net revenue to increase by 10% to 15% y-o-y. Furthermore, adjusted net profit, excluding expenses on the Company new project "SOVEST" is forecasted to increase by 12% to 17% y-o-y. Furthermore, adjusted net profit including SOVEST expenses is expected to decline by 15% to 30% y-o-y.

Stock Performance

On Tuesday, September 05, 2017, the stock closed the trading session at $16.01, falling 2.56% from its previous closing price of $16.43. A total volume of 538.61 thousand shares have exchanged hands. Qiwi's stock price rallied 6.52% in the past six months and 5.19% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 25.37%. The stock is trading at a PE ratio of 22.11 and has a dividend yield of 5.25%. At Tuesday's closing price, the stock's net capitalization stands at $945.39 million.

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SOURCE: Pro-Trader Daily