CIAN (CIAN US: U/R) reported its 4Q21 IFRS numbers
The total number of listings of 1.78mn showed an expected normalization from the 2.14mn in 4Q20
On a full year basis, the top-line expanded by 52% y/y to RUB6.0bn
The contents of this document have been prepared by Joint Stock Company “Alfa-Bank” ("Alfa Bank") as Investment Research within the meaning of Article 36 of Commission Delegated Regulation (EU) 2017/565 supplementing the Markets in Financial Instruments Directive 2014/65/EU ("MiFID II"). Alfa Bank is regulated by the Central Bank of the Russian Federation under general license number 1326. Alfa Bank is owned by ABH Financial Limited. Alfa Capital Markets Ltd ("ACM"), a wholly owned subsidiary of Alfa Bank, is distributing this document to its clients and accepts no responsibility towards any other classes of recipients. ACM is regulated by the Cyprus Securities and Exchange Commission under license number CIF 387/20. The information contained in this document is provided for information purposes only and is not a marketing communication, investment advice or personal recommendation within the meaning of MiFID II. The information must not be used or considered as an offer or solicitation of an offer to sell or to buy or subscribe for any securities or financial instruments. In the UK, this document does not constitute a Financial Promotion within the meaning of section 21 of the Financial Services and Markets Act 2000 (as amended). This document is not for distribution or use by any person or entity in any jurisdiction where such distribution or use would be contrary to local law or regulation or which would subject any of Alfa Bank, ACM and their associated companies, directors or employees to authorization, licensing or other registration requirements under applicable laws. This document is not for distribution to retail clients as defined by MiFID II and may not be communicated to such persons. This document is not for distribution or use by European investment firms providing portfolio management or other investment or ancillary services to clients, unless it is received in return for payment. The information contained in this document is the exclusive property of Alfa Bank and might be subject to change without notice. Unauthorized duplication, replication or dissemination of this document, in whole or in part, without the express written consent of Alfa Bank is strictly prohibited. Although the information in this document has been obtained from, and is based on, sources Alfa Bank believes to be reliable, no representation or warranty, express or implied, is made by Alfa Bank, ACM or the authors. The author`s opinion expressed herein reflects their current judgment and is subject to change without notice. ACM and its employees do not accept any responsibility as to the accurateness or completeness of any information herein or as to whether any material facts have been omitted. Alfa Bank, ACM and their associated companies will refuse to provide brokerage or any other service to any potential client if they have reason to believe that the provision of the services to such client would be illegal. This research has been prepared without regard to the personal circumstances, investment objectives, knowledge, experience, risk tolerance and return expectation of the investors receiving this research. Investors should consider whether any advice or recommendation in this research is suitable for their particular circumstances and, if appropriate, seek professional advice, including tax advice. The price and value of instruments referred to in this research, and the income from them, may fluctuate and be subject to foreign currency exchange rate adverse effect. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Alfa Bank, ACM and their associated companies, directors or employees (excluding any financial analysts or other personnel involved in the production of research), from time to time, may deal in, hold or act as underwriters, market makers or advisors, brokers or commercial and/or investment bankers in relation to the securities, financial instruments and companies mentioned in this email, or may have been, or may be represented on the board of such companies. If such circumstances arise, Alfa Bank, ACM and their associated companies have in place appropriate conflicts of interest policies and procedures to ensure that investment research remains independent and objective. A summary of ACM's conflicts of interests policy, containing details relevant to investment research, is available upon request from ACM. ACM has arranged for Alfa Bank and other relevant group entities involved in the production of research to implement equivalent policies.
Neither Alfa Bank nor ACM is affiliated with US-based Alfa Insurance. Furthermore, neither Alfa Bank nor ACM is registered as a broker-dealer in the United States and, therefore, is not subject to U.S. rules regarding the preparation of research reports and the independence of research analysts.
As of January 24, 2017, Alfa Group owned 47.86% of X5 Retail Group (“X5”). X5 is listed on the LSE. This research was produced independently of this relationship.
The Analysts certify that the views and forecasts expressed in this report accurately reflect their personal views about the subject, securities, or issuers specified herein. In addition, the Analysts certify that no part of their compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in this report.
Publication of this document is news driven.