ALMATY, Kazakhstan, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz ("Kaspi.kz") has sent a formal letter of interest to Uzbekistan's State Assets Management Agency ("SAMA"), indicating its interest in participating in the upcoming privatization of the National Interbank Processing Center ("Humo"). SAMA has unveiled plans to privatize a 100% stake in the Humo payment system via a public negotiation process. Humo is one of two payment systems in Uzbekistan and enables all aspects of the paymen ...

Core Viewpoint - In uncertain macroeconomic times, adding exposure to top dividend growth stocks is crucial for consistent returns as the broader market experiences corrections [1][2]. Group 1: Kaspi.kz (KSPI) - Kaspi.kz operates a leading fintech and e-commerce ecosystem in Kazakhstan, showing impressive growth across its Payments, Marketplace, and Fintech platforms [3][4]. - In Q2 2024, Kaspi.kz's revenue surged by 36% and net income increased by 25% year-over-year, driven by the rapid adoption of its Super App [4]. - The company's Marketplace GMV soared by 62%, with strong performance in e-commerce, e-grocery, and travel sectors [4]. - Analysts initiated coverage with a price target of $175, indicating a potential upside of 35% [4]. - The stock has climbed 33% over the past year, and it offers a dividend yield of 5.5% [5]. Group 2: Opera (OPRA) - Opera is a browser company that has seen impressive growth, particularly with its gamer-centric Opera GX browser [6][7]. - In Q1 2024, Opera reported revenue of $101.9 million, a 17% year-over-year increase, and raised its full-year outlook [6]. - Analysts have a consensus moderate buy rating with an average price target of $23.50, representing nearly 87% upside [7]. - The stock is considered undervalued with a forward price-earnings ratio under 14-times, and earnings per share are expected to double while revenue grows by 13% annually over the next four years [7]. - Opera offers a dividend yield of 6.6% [7]. Group 3: Turkcell (TKC) - Turkcell is a leading mobile and digital services provider in Turkey, with revenue growing by 11.8% year-over-year in Q1 2024, driven by strong ARPU growth and a larger subscriber base [8][9]. - The stock has soared by 67% over the past year, with revenue expected to surge by 40% this year to $4.6 billion and reach nearly $10.4 billion within three years [9][10]. - Despite concerns over Turkey's high inflation, the company has adapted well, and it provides a dividend yield of nearly 4% [10].

Exhibit 99.1 JOINT STOCK COMPANY KASPI.KZ Interim Condensed Consolidated Financial Information For the six months ended 30 June 2024 (Unaudited) Joint Stock Company Kaspi.kz Table of Contents | --- | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------|-------------|-------| | | | Page | | INTERIM CONDENSED CONSOLIDATED FINANCIAL INFORMATION FOR THE THREE AND SIX MONTHS ENDED 30 JUNE 2024 (UNAUDITED): | | ...

Financial Data and Key Metrics Changes - The company reported a consolidated revenue increase of 36% year-over-year and a net income increase of 25% [21] - Payments total payment volume (TPV) grew by 32% year-over-year, with revenue up 23% and net income up 2% [20][24] - Marketplace GMV increased by 62% year-over-year, with revenue up 96% and net income up 68% [19] - Fintech TPV grew by 43% year-over-year, with revenue up 23% and net income up 2% [20] Business Line Data and Key Metrics Changes - e-Grocery active consumers reached 639,000, with GMV nearly doubling and a 99% growth rate [7] - The marketplace is the fastest-growing segment, with significant contributions from e-commerce, which saw GMV up 113% [25][26] - The payments platform saw transaction trends up 46% in Q2 and 44% year-on-year in the first half [13] Market Data and Key Metrics Changes - The company is expanding its presence in three major cities: Almaty, Astana, and Shymkent, which account for about half of the total food retail trade in Kazakhstan [9] - The e-commerce segment is now almost half of the marketplace GMV, with strong demand driven by promotional campaigns [25] Company Strategy and Development Direction - The company is focused on diversifying its services and expanding its marketplace offerings, with a strong emphasis on supporting local merchants [5][19] - There is a strategic initiative to build additional dark stores to meet high consumer demand in the e-Grocery segment [8] - The company is exploring international expansion opportunities while being cautious to avoid negatively impacting local merchants [98] Management's Comments on Operating Environment and Future Outlook - Management anticipates a rebound in profitability for the fintech division starting in Q3, with a strong performance expected in Q4 [17][20] - The company is optimistic about the growth trajectory, with a focus on maintaining strong consumer engagement and transaction volumes [18] - Management noted that the Juma promotional events will impact growth rates, with expectations for lower growth in Q3 but a significant rebound in Q4 [31][34] Other Important Information - The company has declared a dividend of KZT850, indicating a commitment to returning excess capital to shareholders [27] - The introduction of brand advertising services is expected to enhance revenue streams and brand awareness for merchants [23] Q&A Session Summary Question: Can you clarify the fiscal year expectations and growth rates for the second half? - Management reiterated that Q3 will see lower growth due to the absence of the Juma promotional event, with a rebound expected in Q4 [31][34] Question: What is the status of international expansion efforts? - Management confirmed that they are selectively pursuing international opportunities but did not disclose specific regions or targets [46] Question: How does the company view the impact of tax increases in Kazakhstan? - Management indicated that while there are discussions about tax changes, they do not foresee a material impact on the business at this time [68][78] Question: Can you quantify the GMV contribution from Juma? - Historically, Juma has contributed about 15% to 20% of GMV in the month it occurs, but this year may differ due to seasonality [86] Question: What is the outlook for the cost of risk? - Management stated that the cost of risk remains stable, with no significant concerns for the upcoming quarters [87]

Kaspi.kz Consumer Super App 22 July, 2024 This presentation contains forward-looking statements within the meaning of the U.S. federal securities laws, which statements relate to our current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as "believe," "may," "might," "will," "expect," "estimate," "could," "should," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "prospective," "continue," "is/are ...

Core Insights - Kaspi.kz reported strong financial performance in 2Q 2024, with revenue and net income increasing by 36% and 25% year-over-year, respectively [10] - The Payments and Marketplace Platforms contributed significantly to net income, accounting for 68% of consolidated net income, up from 61% in 1H 2023 [10] - The company is focused on expanding its services and entering new markets, with plans for international growth when deemed appropriate [6] Financial Performance - Revenue from the Marketplace Platform grew by 62% year-over-year, with GMV increasing by 96% [10] - Value-added services revenue surged 4.2 times year-over-year, contributing to a Marketplace Take Rate of 9.5% [10] - e-Commerce GMV increased by 113% year-over-year, with a Take Rate of 11.3% [10] User Engagement and Transaction Activity - User engagement reached record levels, with consumers transacting 72 times per month, and payment transactions up 46% year-over-year [3] - The e-Grocery segment saw GMV growth of 99% year-over-year, with active customers reaching 639,000 [10] - Kaspi Travel's GMV increased by 33% year-over-year, with Kaspi Tours GMV rising by 644% [10] Strategic Initiatives - The company launched a brand advertising solution to enhance merchant value-added services, aiming to stimulate growth in Kazakhstan's digital advertising market [4] - Kaspi.kz is focusing on vertical-specific strategies, including e-Grocery and e-Cars, to drive innovation and growth [12] - The company plans to expand its dark store network in Almaty to meet increasing consumer demand [10] Future Outlook - The third quarter of 2024 is expected to show lower year-over-year growth due to the timing of marketing campaigns, but the company remains on track for strong full-year growth [5][10] - The Board of Directors proposed a dividend of KZT850 per ADS, subject to shareholder approval, reflecting confidence in the company's financial health [14]

E-commerce Market Outlook - E-commerce stocks are expected to experience a resurgence in the second half of 2024, driven by interest rate cuts linked to falling inflation, which may encourage online shopping [1] - There are still high-growth e-commerce stocks available at attractive valuations, which could follow Amazon's success in their respective regions [2] MercadoLibre (MELI) - MercadoLibre's marketplace businesses in Brazil and Mexico achieved gross merchandise value (GMV) growth of approximately 30%, despite macroeconomic challenges [3] - The company's e-commerce revenue is projected to continue growing at high rates, supported by strategic investments in logistics and effective marketing [3] - MercadoLibre's fintech division saw total payment volume increase by 133% to $1.9 billion, aided by the issuance of 1.5 million new credit cards [5] - The company reported a 42.7% year-over-year revenue increase to a record $4.33 billion, exceeding estimates by over $466 million, with earnings per share of $6.78 surpassing expectations by more than a dollar [12] Sea (SE) - Sea's Shopee platform achieved record-high orders, GMV, and revenue in Q1 2024, with gross orders increasing by 57% year-over-year [14] - The integrated logistics arm, SPX Express, successfully delivered 70% of orders in Asia within three days, enhancing logistics efficiency and customer satisfaction [7] - Despite rising competition from rivals like Lazada and Tokopedia, Sea is well-positioned to capitalize on the digitalization trend in Southeast Asia [15] Kaspi.kz (KSPI) - Kaspi.kz is revolutionizing banking, shopping, and payment processes in Kazakhstan through its Super App, which also encompasses e-commerce [17] - The company has 14 million monthly users in a country with a population of less than 20 million, indicating strong market penetration [18] - Digital payments in Kazakhstan are projected to reach $14.3 billion by 2028, positioning Kaspi to benefit from this growth trend [18] - Kaspi's Q1 revenue increased by 40% year-over-year, and analysts remain bullish on the company's performance [19]

Kaspi in 2024 Lingering Risks from Fintech Since acquiring Kolesa.kz, Kaspi has been working to develop a holistic customer experience where Kaspi can serve every need of consumers related to automotive. From purchasing, financing, insuring, registering, to getting any auto parts a consumer might need, Kaspi can help. Year in and year out Kaspi has been able to leverage its existing platform to develop new businesses. Already this year, they are developing a first party ecar business and have already profit ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR Copy to: Tengiz Mosidze +7 727 3306710 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 1 ...

Joint Stock Company Kaspi.kz (OTC:KSPI) Q1 2024 Earnings Conference Call April 22, 2024 8:00 AM ET Company Participants David Ferguson - Managing Director, Head of Investor Relations Mikheil Lomtadze - Co-Founder and CEO Conference Call Participants Darrin Peller - Wolfe Research Gabor Kemeny - Autonomous Research James Friedman - SIG Reggie Smith - JPMorgan Operator Hello, everyone, and welcome to Kaspi's First Quarter 2024 Financial Results. My name is Harry and I'll be your operator today. [Operator Inst ...