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QIWI Simplifying QIWI Announces First Quarter 2021 Financial Results May 20 , 2021 First Quarter Total Net Revenue Decreases 18 % to RUB 5,161 Million and Adjusted Net Profit Increases 18 % to RUB 2,061 Million or RUB 33.00 per diluted share QIWI reiterates 2021 Guidance Board of Directors Approves Dividends of 22 cents per share NICOSIA , Cyprus , May 20 , 2021 ( GLOBE NEWSWIRE ) -- QIWI plc ( NASDAQ : QIWI ) ( MOEX : QIWI ) ( " QIWI " or the " Company " ) today announced its financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Operating and Financial Highlights • Total Net Revenue decreased 18 % to RUB 5,161 million ( $ 68.2 million ) ● Payment Services Segment Net Revenue decreased 11 % to RUB 4,762 million ( $ 62.9 million ) • Adjusted EBITDA increased 23 % to RUB 2,820 million ( $ 37.3 million ) • Adjusted Net Profit increased 18 % to RUB 2,061 million ( $ 27.2 million ) , or RUB 33.00 per diluted share ● Payment Services Segment Net Profit decreased 19 % to RUB 2,480 million ( $ 32.8 million ) or RUB 39.71 per diluted share • Total Payment Services volume increased 4 % to RUB 384 billion ( $ 5.1 billion ) " Today , I'm glad to present our first quarter 2021 financial results and share several operating highlights with you . This quarter our business model has proven to be resilient and highly adaptable , responding rapidly to changing operating environments . With the significant share of our operations being under the CBR restrictions , we were able to partially substitute the lost income by the development in our key niches and areas of expertise . Our Payment Services segment net revenue decreased by 11 % year over year , while thanks to optimization measure we implemented in 2020 , our group Adjusted Net Profit grew by 18 % year over year , " said Boris Kim , QIWI's chief executive officer . " In our core Payment Services business , we continue to focus on the development of the products and services we offer in our key niches , primarily the digital entertainment industry , the self - employed market , and money remittances , where we aim to expand and enhance our product proposition for our users , merchants , and partners . We also count on our Factoring PLUS and Flocktory projects which we believe will help us diversify our business and support our future growth . Despite all challenges we are currently facing , I believe that our ecosystem and innate capacity to innovate and reinvent ourselves will help us further strengthen our platform and to evolve successfully with the ultimate goal of securing QIWI's long - term growth prospects . " First Quarter 2021 Results Total and Segment Net Revenues : Total Net Revenue ( Total Segment Net Revenue ) for the quarter ended March 31 , 2021 was RUB 5,161 million ( $ 68.2 million ) , a decrease of 18 % compared to RUB 6,260 million in the prior year . Payment Services Segment Net Revenue for the quarter ended March 31 , 2021 was RUB 4,762 million ( $ 62.9 million ) , a decrease of 11 % compared to RUB 5,321 million in the prior year . PS Payment Net Revenue¹ was RUB 4,068 million ( $ 53.7 million ) , a decrease of 11 % compared to RUB 4,595 million in the prior year . PS Payment Net Revenue decrease was predominantly driven by a decline in the Payment Average Net Revenue Yield , which was mainly driven by a reduction of E - commerce net revenue yield resulting from the discontinuation of higher - yielding cross - border payments due to the CBR restrictions underpinned by a decline of the share of E - commerce volume in total volume due to the same reason . PS Payment Net Revenue decline was partially offset by the payment volume growth year over year primarily due to the Money Remittance volumes growth . PS Other Net Revenue2 , which is principally composed of revenue from fees for inactive accounts and unclaimed payments , interest revenue , revenue from overdrafts provided to agents , and advertising , was RUB 694 million ( $ 9.2 million ) , a decrease of 5 % compared to RUB 727 million in the prior year . Fees for inactive accounts and unclaimed payments for the first quarter ended March 31 , 2021 were RUB 441 million ( $ 5.8 million ) compared to RUB 490 million for the corresponding period in the prior year . PS Other Net Revenue excluding revenue from fees for inactive accounts and unclaimed payments increased 7 % compared to the same period in the preceding year to RUB 253 million ( $ 3.3 million ) predominantly driven by cost optimization measures including lower call center , SMS and Voicemail expenses . Corporate and Other Category ( CO ) Net Revenue includes : ( i ) net revenue from cash and settlement services related to the operations of the Tochka project ; ( ii ) net revenue from factoring and digital bank guarantee services of our Factoring PLUS project ; ( iii ) net revenue from platform and marketing services related to Flocktory ; and ( iv ) net revenue from other projects in the start - up stage . For the quarter ended March 31 , 2021 , Corporate and Other Category Net Revenue was RUB 399 million ( $ 5.3 million ) compared to RUB 350 million in the first quarter of the prior year . Category Net Revenue dynamics were driven primarily by the following factors : ● • Tochka Net Revenue for the quarter ended March 31 , 2021 was RUB 82 million ( $ 1.1 million ) compared to RUB 165 million for the first quarter of the prior year . Tochka Net Revenue decline primarily resulted from a decrease in revenue generated from cash and settlement services due to a lower number of active Tochka clients being served by QIWI Bank . Factoring Net Revenue for the quarter ended March 31 , 2021 was RUB 194 million ( $ 2.6 million ) compared to RUB 101 million for the first quarter of the prior year . Factoring Net Revenue growth resulted predominantly from the scaling of the