Citibank, N.A. has replaced Deutsche Bank AG as the depositary for the Global Depositary Receipt (“GDR”) program of Sistema JSFC, the Russian holding company reported on May 12, 2016.
The change took effect on May 6, 2016. The company and Citibank, N.A. have entered into amendments to the Regulation S deposit agreement and Rule 144A deposit agreement, each dated October 22, 2012 and relating to the GDR programs. Sistema’s GDR holders do not need to take any action in connection with this notice, Sistema notes.
Sistema Joint-Stock Financial Corporation is a public diversified corporation providing services to more than 100 million consumers in numerous market segments: telecommunications, high technologies, fuel and energy, radio and space technologies, banking services, retail trade, mass media, tourism, and medical services. The company was established in 1993.
The authorized capital of Sistema JSFC is RUB868.5 million (USD13.51 million). It consists of 9.65 billion common shares with a face value of RUB0.09. The company’s principal shareholder is Vladimir Evtushenkov.
The adjusted IFRS net loss of Sistema JSFC for 2015 decreased 3.6 times to RUB5.354 billion (USD0.08 billion) from RUB19.123 billion (USD0.30 billion) the year before. The IFRS net profit attributable to Sistema JSFC for 2015 was RUB33.592 billion (USD0.52 billion), against a loss of RUB156.237 billion (USD2.43 billion) in 2014. Revenues increased by 9.7 percent to RUB708.641 billion (USD11.02 billion) from RUB646.269 billion (USD10.05 billion). The adjusted OIBDA (operating income before depreciation and amortization) increased by 6.7 percent to RUB176.438 billion (USD2.74 billion) from RUB165.335 billion (USD2.57 billion), while the operating profit went up by 14.5 percent to RUB69.048 billion (USD1.07 billion) from RUB60.329 billion (USD0.94 billion).
The adjusted IFRS net loss attributable to Sistema JSFC for the fourth quarter of 2015 decreased twofold to RUB9.537 billion (USD0.15 billion) from RUB20.38 billion (USD0.32 billion) the year before. The net loss of the company was RUB13.584 billion (USD0.21 billion), against RUB196.722 billion (USD3.06 billion) the year before (down 14.5 times). Revenues decreased by 0.7 percent to RUB192.726 billion (USD3.00 billion) from RUB194.026 billion (USD3.02 billion). The adjusted OIBDA increased by 19.6 percent to RUB35.612 billion (USD0.55 billion) from RUB29.773 billion (USD0.46 billion). The operating profit stood at RUB1.215 billion (USD0.02 billion), against a loss of RUB17.504 billion (USD0.27 billion).
According to AK&M Information Agency’s DataCapital information retrieval system, the RAS net profit of Sistema for 2015 was RUB34.461 billion (USD0.54 billion), against a loss of RUB307.202 billion (USD4.78 billion) the year before. Revenues decreased 1.9 times to RUB30.843 billion (USD0.48 billion) from RUB59.553 billion (USD0.93 billion), and the gross profit 1.9 times to RUB30.823 billion (USD0.48 billion) from RUB59.516 billion (USD0.93 billion). Pre-tax profits stood at RUB46.147 billion (USD0.72 billion), against a loss of RUB316.797 billion (USD4.93 billion).
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