- Business
- Sistema Public Joint Stock Financial Corporation (Sistema PJSFC, ticker: AFKS.ME) is a publicly traded diversified Russian investment holding company that invests in and manages a broad portfolio of assets across telecommunications, e-commerce, forestry, healthcare, agriculture, high technology, finance, real estate, tourism, and other sectors primarily in Russia and internationally. The company operates through key segments including Mobile TeleSystems (MTS), which provides mobile and fixed voice, broadband, internet access, pay TV, financial services, content, and entertainment; Segezha Group, a vertically integrated timber holding engaged in logging, wood processing, plywood, paper sacks, sawn timber, and pulp production; Medsi Group, offering prevention, diagnosis, treatment, rehabilitation services, and pharmaceuticals via Binnopharm; Ozon Holdings, an e-commerce platform; Steppe agroholding with significant land banks in southern Russia; and others such as hospitality via Cosmos Hotel Group, banking through MTS Bank, and innovation projects in green hydrogen. Founded in 1993 and headquartered at 13 Mokhovaya Street in Moscow, Russia, Sistema serves over 150 million customers, leasing investment properties and targeting consumer, industrial, and high-growth markets with subsidiaries like Sitronics in IT/telecom, Etalon Group in real estate, and ventures in biotechnology and microelectronics. Recent developments include consolidated revenue growth of 13.4% year-on-year to RUB 355.3 billion in Q3 2025 with adjusted OIBDA up 21.9% to RUB 102.8 billion; a new dividend policy in March 2024 targeting at least RUB 0.52 per share annually with 25-50% increases through 2026; ongoing talks to sell its stake in Element Group, Russia's largest microelectronics producer, to Sberbank to reduce debt exceeding RUB 1.4 trillion; approval of expanded hospitality operations; and maintenance of majority stakes post prior transactions like the 2021 sale of a minority interest in Segezha Group.