SFI reports net profit of 6 billion rubles in Q1 2023 under IFRS, compared to loss of RUB 1.6 billon rubles a year earlier

SFI PJSC (investment holding SFI PJSC, MOEX: SFIN) reported a net profit of 6 billion rubles in Q1 2023 under International Financial Reporting Standards (unaudited data). In Q1 2022, the holding made a loss of 1.6 billion rubles.

The total operating and financial revenue amounted to 9.8 billion rubles, which is a significant increase from 322 million rubles for the same period in 2021. The positive performance of the holding company's assets, as well as the positive revaluation of public companies shares in the SFI's portfolio influenced the results of SFI in Q1 2023.

SFI's consolidated financial statements include the performance of its leasing subsidiary Europlan PJSC, Region Estate LLC (which develops the GFN.RU gaming service) and, in accordance with its shareholding, the performance of VSK Insurance House (SFI holds a 49% stake).

SFI also holds an 11.18% stake in PJSC RussNeft and a 10.37% stake in PJSC M.Video retailer, which are accounted for as financial instruments measured at fair value (shares of these two public issuers are valued at the closing price on the Moscow Stock Exchange on March 31, 2023).

The holding company's assets increased in the first quarter from 229.9 billion rubles to 236 billion rubles.

You can find the IFRS statements of the holding through the link.