Joint Stock Company Kaspi.kz (OTC:KSPI) Q3 2024 Earnings Conference Call October 21, 2024 8:00 AM ET
Company Participants
David Ferguson – MD, Head of IR
Mikheil Lomtadze – CEO and Co-Founder
Conference Call Participants
Gabor Kemeny – Autonomous Research
Soomit Datta – New Street Research
James Friedman – Susquehanna
Reggie Smith – JPMorgan
Mikhail Butkov – Goldman Sachs
David Shapiro – Vanshap Capital
Operator
Hello, and welcome to the Kaspi.kz 3Q and 9M 2024 Financial Results Conference Call. My name is Harry, and I’ll be your operator today. All lines will be muted during the presentation portion of the call with an opportunity for questions-and-answers at the end. [Operator Instructions]
I would now like to turn the call over to David Ferguson at Kaspi to begin. David, please go ahead when you’re ready.
David Ferguson
Great. Thank you, Harry. Good afternoon, good morning, everyone. Welcome to our third quarter, nine month 2024 financial results. We’ll also talk about our decision to acquire a controlling stake of Hepsiburada.
On the call, as usual, is our CEO and Co-Founder, Mikheil Lomtadze; our CFO and Deputy CEO, Tengiz Mosidze, and Deputy CEO, Yuri Didenko. I’m David Ferguson, will talk you through the presentation, Mikheil through the strategic updates, Mosidze through the financials, and Mikheil will talk again about the Hepsiburada transaction. So on that note, I’ll hand over to Mikheil. Mikheil over to you.
Mikheil Lomtadze
Hello everyone. So, as usual, we’d like to start with an update for our 3Q and nine month performance. So as you can see, we have performed strongly in the third Q. The payment just continues growing nicely with the TPV 28% up and revenue 25% and net income 25% up year-over-year. The marketplace continues growing very strongly. If you remember, we have been emphasizing during the year that the change in the marketing campaigns, which is driven really by
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