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Freedom Holding Corp. Shows Good Results in Q1

Freedom Holding Corp., a leading broker and investment bank, reports its financial results for fiscal Q1 2020, which ended on June 30, 2019.

Here are the key figures over the period:

1. The earnings rose by 295%, or $21.80M, compared to Q1 2019, and reached$29.20 with the following:

• Commission earnings rose by 316%, or $17.20M. from $5.40M to $22.60 M

• Company portfolio transactions yielded $5.90 YoY more through stock price changes.

2. The costs increased by 35%, or $5.10M, through the following:

• Operational costs rose by $3.60M, mainly with common administrative costs of expansion and new office openings

• Commission costs rose by $3.30M with more clients and more transactions run.

3. Net profit increased by $15.10M, to reach $8.20M against a net loss of $6.90M a year ago.

4. EPS (weighted by 58M shares) rose by $0.26 to reach $0.14, against -$0.12 over the previous year.

5. Against other losses of -$13.60M reported over the previous year, $8.9M other profit was reported this time, which means it grew up by $22.50M.

6. The company's assets and liabilities have increased by $78.20M and $70.00M, respectively, in Q1.

This is how Timur Turlov, Freedom Holding Corp. CEO, commented on this:

"Our holding is growing in all countries we have got presence in. We are not only focused on expansion, but are also trying our best to keep our service quality at the highest level possible. We have already achieved great results, but keeping the things as is is not something we are fond of. I am quite sure my team and me will continue surprising the investors to the better in the next reporting period."

Key Metrics and Events:

The number of client accounts have increased by 5.20% compared to the results as of Mar 31, 2019, and reached 121K.


• S&P Global Ratings assigned Freedom Finance В-/В rating, labeling it as "stable".

• Freedom Finance Bank won the Piotr Stolypin Prize in the Investment Banks category.

• Expert RA rating agency confirmed the ruBB+ status, and classified Freedom Finance as "stable".

• Thanks to Freedom Finance initiative, more global stocks become available for trading in the Saint Petersburg exchange. In June, Roku, Match Group, Zscaler, Levi Strauss, and Lyft were added.


• Freedom Finance was granted a license #4.3.12 as of 4/4/2019 by the National Republic Bank for foreign currency transactions.

• Freedom Finance was a financial adviser and underwriter for the Eurasian Development Bank in terms of bond listing and allocation. The total amount of 5-year bonds was around $120M, the buyer bids were filled with coupon rate of 9.50% per annum.

• S&P Global Ratings assigned Freedom Finance В-/В rating, labeling it as "stable" and providing it with kzBB- rating in Kazakhstan.

About Freedom Finance

Freedom Holding Corp. Holding market cap is over $600M, as of 12/80/2019. The company caters to over 121,000 clients, its net worth is $117M. Freedom Finance has offices in 7 countries and focuses on retail brokerage services. An important part is played by a child company, FFIN Bank, headquartered in Russia.

The Russian part of Freedom Finance offers broker, dealer, depository, and stock management services. The branch is headquartered in Moscow and has over 30 offices across Russia. With the registered capital of over $40M, it has 500 employees. The branch has over 38,000 clients, and is #9 in the Moscow Stock Exchange Broker Rating.

Another branch of Freedom Finance works in 16 cities of Kazakhstan. The company is #1 in the KASE Activity Rating as of 2018 in the following sectors: equity securities, debt securities, and repo. The number of clients exceeds 51,000.