International Public Joint-Stock Company T-Technologies (TCS) Q1 2026 earnings summary

Executive summary

• Net revenue rose 25% year-over-year to RUB 197.5 bn, driven by ecosystem expansion and higher customer engagement.

• Operating net profit increased 40% year-over-year to RUB 46.5 bn, reflecting efficiency improvements.

• Total customer base reached 54.9 mn, with active customers up 4% quarter-on-quarter to 34.2 mn.

• New segment reporting introduced, enhancing transparency and aligning with the business model.

• Igor Gerasimov appointed as CFO, with Ilya Pisemsky shifting to strategic initiatives.

Financial highlights

• Total revenue grew 10% year-over-year to RUB 387.2 bn.

• Net interest income up 30% year-over-year to RUB 144.7 bn; net service income up 20% to RUB 43.0 bn.

• Adjusted EBITDA increased 38% year-over-year to RUB 82.9 bn.

• Net profit attributable to shareholders rose 17% year-over-year to RUB 38.8 bn.

• Total assets increased 25% year-over-year to RUB 5.9 tn; equity up 47% to RUB 837 bn.

Outlook and guidance

• 2026 guidance confirmed: operating net profit growth of at least 20% and dividend per share growth above 20%.

• Planned buyback of up to 10% of free-float shares by end of 2026, with flexibility to accelerate.