Quarterly ResultMay 11, 2026, 07:01 AM
Kaspi.kz 1Q 2026 Revenue +31% to KZT1.1T; Adj EBITDA +9%; Dividend KZT850
AI Summary
Kaspi.kz reported strong 1Q 2026 financial results, with total revenue increasing 31% year-over-year to KZT1.1 trillion and adjusted EBITDA growing 9%. The e-Commerce segment was a primary growth driver, with GMV up 41% and revenue up 58%, significantly boosted by its operations in Türkiye. The Board recommended a quarterly dividend of KZT850 per ADS, representing a 64% payout ratio, reflecting confidence in cash generation and growth outlook. The company reiterated its full-year 2026 guidance and successfully settled a $600 million Eurobond issuance post-quarter.
Key Highlights
- Board recommended a quarterly dividend of KZT850 per ADS, a 64% payout ratio.
- Total revenue increased 31% year-over-year to KZT1.1 trillion ($2.3 billion).
- Adjusted EBITDA grew 9% year-over-year to KZT368 billion ($768 million).
- e-Commerce GMV increased 41% year-over-year to KZT1.3 trillion ($2.6 billion).
- e-Commerce revenue increased 58% year-over-year to KZT394 billion ($824 million).
- Fintech revenue increased 25% year-over-year to KZT430 billion ($897 million).
- Payments TPV increased 14% year-over-year to KZT11.4 trillion ($23.7 billion).
- Issued $600 million 5.900% five-year Notes post-quarter for general corporate purposes.