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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Apple Inc.    AAPL

APPLE INC.

(AAPL)
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Exclusive: Russia's Sberbank targets half of revenue from non-banking by 2030 - sources

11/27/2020 | 11:22am EST
FILE PHOTO: St. Petersburg International Economic Forum

MOSCOW (Reuters) - Sberbank expects its non-banking business to reach 5% of its revenues in 2023 and as much as half of its total in a decade, as it focuses on e-commerce and other online ventures, two sources told Reuters.

Russia's largest lender has invested some $2 billion on acquisitions and IT as it attempts to join Apple and Google on the big tech stage.

Sberbank plans to tell investors on Nov. 30 that non-banking, or ecosystem as it calls the business, will account for 5% of its total revenue in 2023 and grow to nearly a half of its total by 2030, two sources close to its supervisory board said.

The bank's return-on-equity (RoE), one of key measures of profitability, is forecast at 17% in 2023, one of the two sources said. A third source, also close to Sberbank's supervisory board, confirmed this forecast.

The sources did not say why the RoE target is smaller than the third quarter's 22.8%.

Sberbank, in which the Russian state owns a stake of 50% plus one share, declined to comment.

Non-banking, which includes Sberbank's joint venture with internet company Mail.Ru, the Rambler media group and Okko online cinema along with some other assets, currently accounts for around 1% of its revenue, with the rest from its core financial business.

Sberbank's ambitions were dealt a blow this year when its partnership with Russia's leading internet firm Yandex, its first major e-commerce push and part of its ecosystem strategy, collapsed over strategy disagreements.

Sberbank was also in talks to buy a large minority stake in online retailer Ozon, Russia's second biggest, but the deal also fell apart amid disagreements, sources told Reuters earlier this year.

Ozon has instead raised nearly $1 billion this month in what turned out to be the largest initial public (IPO) offering by a Russian company since 2017.

(Reporting by Tatiana Voronova; Writing by Katya Golubkova; Editing by Alexander Smith)

By Tatiana Voronova


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. -0.19% 1727.62 Delayed Quote.-1.43%
APPLE INC. -1.37% 127.14 Delayed Quote.-4.18%
MAIL.RU GROUP LIMITED -0.93% 26.55 Delayed Quote.1.33%
OZON HOLDINGS PLC 6.45% 52.61 Delayed Quote.27.05%
SBERBANK OF RUSSIA -2.62% 276.82 End-of-day quote.2.11%
YANDEX -2.84% 67.32 Delayed Quote.-3.25%
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Financials (USD)
Sales 2021 317 B - -
Net income 2021 67 023 M - -
Net cash 2021 96 637 M - -
P/E ratio 2021 31,8x
Yield 2021 0,67%
Capitalization 2 139 B 2 139 B -
EV / Sales 2021 6,44x
EV / Sales 2022 6,01x
Nbr of Employees 147 000
Free-Float 98,9%
Chart APPLE INC.
Duration : Period :
Apple Inc. Technical Analysis Chart | AAPL | US0378331005 | MarketScreener
Technical analysis trends APPLE INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 43
Average target price 131,86 $
Last Close Price 127,14 $
Spread / Highest target 25,8%
Spread / Average Target 3,71%
Spread / Lowest Target -37,1%
EPS Revisions
Managers and Directors
NameTitle
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Independent Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer & Senior Vice President
Kevin M. Lynch Vice President-Technology
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1st jan.Capitalization (M$)
APPLE INC.-4.18%2 138 910
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WINGTECH TECHNOLOGY CO.,LTD15.95%22 054
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FOCUSRITE PLC-8.28%776