Exhibit 99.1

QIWI Announces Second Quarter 2022 Financial Results

NICOSIA, CYPRUS – September 28, 2022 – QIWI plc (NASDAQ and MOEX: QIWI) (“QIWI” or the “Company”), a leading provider of cutting-edge payment and financial services in Russia and the CIS, today announced its financial results for the quarter ended June 30, 2022.

2Q 2022 key operating and financial highlights¹

Key events in 2Q 2022 and after the reported period

2Q 2022 results

Net Revenue breakdown by segments

¹ Total Net Revenue, adjusted EBITDA, adjusted EBITDA margin, adjusted Net profit, and adjusted Net profit margin in this release are “non-IFRS financial measures”. Please see the section “Non-IFRS Financial Measures and Supplemental Financial Information” for more details as well as reconciliation at the end of this release.

² https://investor.qiwi.com/results-and-reports/sec-filings/4290003

³ Please see AGM results by the following link: https://investor.qiwi.com/news-and-events/press-releases/4208566/

Total Net Revenue increased by 68.8% YoY to RUB 10,208 million ($199.5 million) driven by strong performance of both segments – Payment Services (PS) and Corporate and Other.

PS Net Revenue increased by 64.1% YoY to RUB 9,318 million driven by a combination of higher PS Payment Net Revenue and PS Other Net Revenue.

PS Payment Net Revenue increased by 53.6% YoY and amounted to RUB 7,579 million ($148.1 million) driven by higher PS Payment Net Revenue Yield by 44 bps underpinned by PS Payment volume increase of 9.2%.

PS Payment Volume reached RUB 499.7 billion mainly resulting from growth of operations via our Contact Money remittances payment system, onboarding of new merchants and aggregators, increase of payment volume using QIWI Wallet for numerous types of services, and growing payment volume from our product offering for self-employed and peer-to-peer operations. We consider the self-employed total addressable market as one of the key drivers of growth with substantial room for penetration of online payments and growing number of officially self-employed.

PS Payment Net Revenue Yield improved to 1.52% due to (i) terminated low-margin TSUPIS operations, (ii) lower processing commissions for payment operations, (iii) improved economics of payouts on the taxi market post acquisition of Taxiaggregator SaaS platform, and (iv) increased share of operations with higher commissions on currency conversion.

PS Other Net Revenue also increased demonstrating 133.3% YoY growth up to RUB 1,739 million mainly due to (i) higher interest income driven by a higher Central Bank base rate, and (ii) increased net revenue derived from cash and settlement services and related currency conversion income.

Corporate and Other Net Revenue increased by 139.9% to RUB 890 million predominantly driven by growth of ROWI digital factoring and online bank guarantees portfolios.

Corporate and Other (CO) Net Revenue breakdown

CO Net Revenue increased by 139.9% YoY to RUB 890 million ($17.4 million) driven by:

Operating expenses and other non-operating income and expenses

Operating expenses increased by 45.5% YoY to RUB 3,618 million ($70.7 million) – a decrease by 5.7 ppts to 35.4% as percent of Total Net Revenue mainly driven by Total Net Revenue growth by 68.8% resulting in a positive operating leverage effect.

Selling, general and administrative (SG&A) expenses increased by 26.3% to RUB 773 million ($15.1 million) and as percent of Total Net Revenue declined by 2.5 ppts YoY to 7.6% driven by positive operating leverage effect.

Personnel expenses increased by 31.3% to RUB 2,002 million ($39.1 million) driven by hiring of new staff for development of new products and strong financial performance resulting in higher accruals for bonuses to employees. At the same time, personnel expenses as percent of Total Net Revenue decreased by 5.6 ppts YoY to 19.6% driven by positive operating leverage effect.

Credit loss increased by RUB 456 million to RUB 520 million ($10.2 million) and as percent of Total Net Revenue went up by 4.0 ppts YoY to 5.1% predominantly as a result of the further growth of the ROWI’s credit portfolio and provisions accrued for the funds in Euro blocked on the bank accounts.

Other non-operating expenses (net) amounted to RUB 2,347 million ($45.9 million) compared to RUB 11 million of income last year primarily due to foreign exchange loss resulting from significant appreciation of Rouble versus USD and Euro.

Income tax expense

Income tax expense increased by 52.3% YoY to RUB 1,433 million ($28.0 million) driven by profit before tax growth by 18.7% YoY. Effective tax rate was 33.8% mainly due to the foreign exchange loss which was non-deductible within the Group perimeter.

Profitability results

Adjusted EBITDA increased by 81.1% YoY to RUB 6,972 million ($136.3 million) mainly due to Total Net Revenue growth by 68.8%. As a result of positive operating leverage effect Adjusted EBITDA margin improved by 4.7 ppts YoY to 68.3%.

Adjusted Net Profit increased by 9.6% YoY to RUB 2,964 million ($57.8 million). Adjusted Net Profit margin declined by 15.7 ppts to 29.0% driven by (i) foreign exchange loss and (ii) higher income tax expense (iii) partially offset by Adjusted EBITDA margin improvement described above.

Payment Services Net Profit increased by 83.2% YoY to RUB 5,572 million ($108.9 million) as a result of PS Net Revenue growth by 64.1% YoY. PS Net Profit margin increased by 6.2 ppts to 59.8% driven by positive operating leverage effect partially offset by higher income tax expense.

CO Net Loss amounted to RUB 2,608 million ($51.0 million) driven primarily by the following factors:

Consolidated cash flow statement

Net cash generated from operating activities before changes in working capital for 1H 2022 increased by 46.1% YoY to RUB 8,271 million ($161.7 million) mainly driven by development of Adjusted EBITDA for the period which increased by 64.9% to RUR 10,659 million ($208.4 million).

Net cash flow generated from operating activities was RUB 5,955 million ($116.4 million) compared to the net outflow of RUB 8,722 million for 1H 2021 due to Adjusted EBITDA dynamics and net interest income received as well as the reduction in the negative change in working capital for the period. Changes in working capital for 1H 2022 resulted in cash outflow of RUB 4,569 million primarily due to (i) decrease in accounts payable and accruals by RUB 5,345 million as a seasonal decline in deposits received from agents for New Year holidays, (ii) increase in loans issued from banking operations by RUB 1,670 million as a result of ROWI’s project loan portfolios growth , (iii) increase in trade and other receivables by RUB 1,739 million due to overall payment volumes growth and partially offset by (iv) increase in customer accounts and amounts due to banks in the amount of RUB 3,728 million driven by QIWI Bank customer base growth.

In 1H 2022, net interest received offset income tax paid resulting in RUB 2,253 million of net income driven by increased interest rates.

Net cash flow generated from investing activities was RUB 2,692 million ($52.6 million). Net cash inflow was primarily driven by proceeds from sale of Tochka in the amount of RUB 4.9 billion partially offset by purchase of debt securities and deposits in the amount of RUB 1.7 billion.

Net cash flow used in financing activities decreased to RUB 532 million ($10.4 million). The net cash outflow was primarily driven by (i) repurchase of QIWI Finance bonds in the amount of RUB 392 million in 1H 2022, and (ii) RUB 106 million of dividends paid to non-controlling shareholders.

In 1H 2022, the adverse effect of exchange rate changes on cash and cash equivalents was RUB 2,068 million ($40.4 million) compared to negative impact of RUB 111 million a year ago resulting from the revaluation of funds denominated in USD and Euro - accumulated for future M&A activities and/or distribution to shareholders.

As a result of factors described above cash and cash equivalents as of June 30, 2022 were RUB 39,070 million ($763.7 million) – a increase of 9.0% compared to June 30, 2021.

Guidance

Due to the persisting level of uncertainty and market volatility, we have decided to extend our abstaining from providing guidance on both short- and medium-term perspective. We will update on guidance expectations in the course of the year when more information becomes available.

We encourage investors to review our 2021 Annual Report on Form 20-F in the Caption “Risk Factors” and other reports QIWI files with the U.S. Securities and Exchange Commission for more details on risks.

Dividends

Although to date our financial position remains strong, the Board continues to keep the payment of future dividends under review and will update shareholders through further announcements as appropriate.

Currently, there are also technical complications for the distribution of dividends, for example, existing Central Bank of Russia restrictions on the distribution of dividends to foreign parent companies and a lack of communication between Euroclear and NSD. The full impact of sanctions on the Russian economy and other markets where we operate remains unclear and requires caution for the benefit of all shareholders and the Company.

Results of the tender offer arranged by a third party

July 19, 2022, Dalliance Services Company, a company wholly owned by Mr. Sergey Solonin, and Mr. Sergey Solonin, the Company’s largest shareholder and Chairman of the Company’s Board of directors, launched a Tender Offer (the “Offer). As a result of the Offer, 4,861,390 Class B Ordinary Shares represented by American Depositary Shares (the “ADSs”) were tendered and repurchased by Dalliance Services Company. After the transaction, Mr. Solonin effectively holds 10,413,510 Class A Ordinary Shares and 4,861,390 Class B Ordinary Shares represented by ADSs, which together constitute 69.7% voting interest and 24.4% in the ownership structure of the Company.

Earnings Conference Call and Audio Webcast

The conference call and webcast to discuss the results will not be held. We welcome all our stakeholders to send any questions related to our business using the contact details available on our investor’s website. We remain available for individual incoming call requests.

About QIWI plc.

QIWI is a leading provider of cutting-edge payment and financial services in Russia and the CIS. We stand at the forefront of fintech innovations to facilitate and secure the digitalization of payments. Our mission is to connect our clients providing unique financial and technological solutions to make the impossible accessible and simple. We offer a wide range of products under several directions: QIWI payment and financial services ecosystem for merchants and B2C clients across digital use-cases, ROWI digital structured financial products for SME, and several other projects.

For the FY 2021 QIWI had revenue of RUB 41.1 billion and an Adjusted EBITDA of RUB 13.2 billion. QIWI's American depositary shares are traded on the NASDAQ and Moscow Exchange (ticker: QIWI).

For more information, visit investor.qiwi.com.

Contact

Investor Relations

+357.25028091

ir@qiwi.com

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of, and subject to the protection of, the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding expected total net revenue, adjusted net profit and net revenue yield, dividend payments, payment volume growth, growth of physical and virtual distribution channels, trends in each of our market verticals and statements regarding the development of our ROWI and Flocktory businesses, the impact of recent sanctions targeting Russia, the impact of such sanctions on our results of operations, potential further changes in the regulatory regime, and others. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance or achievements of QIWI to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Various factors that could cause actual future results and other future events to differ materially from those estimated by management include, but are not limited to, the macroeconomic conditions of the Russian Federation and in each of the international markets in which we operate, growth in each of our market verticals, competition, the introduction of new products and services and their acceptance by consumers, QIWI’s ability to estimate the market risk and capital risk associated with new projects, a decline in net revenue yield, regulation, QIWI’s ability to grow physical and virtual distribution channels, cyberattacks and security vulnerabilities in QIWI’s products and services, QIWI’s ability to expand geographically, the risk that new projects will not perform in accordance with its expectations and other risks identified under the Caption “Risk Factors” in QIWI’s Annual Report on Form 20-F and in other reports QIWI files with the U.S. Securities and Exchange Commission. QIWI undertakes no obligation to revise any forward-looking statements or to report future events that may affect such forward-looking statements unless QIWI is required to do so by law.

QIWI plc.

Consolidated Statement of Financial Position

(in millions)

QIWI plc.

Consolidated Statement of Comprehensive Income

(in millions, except per share data)

QIWI plc.

Consolidated Statement of Comprehensive Income

(in millions, except per share data)

QIWI plc.

Consolidated Statement of Cash Flows

(in millions)

Non-IFRS Financial Measures and Supplemental Financial Information

This release presents Total Net Revenue, PS Payment Net Revenue, PS Other Net Revenue, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net Profit and Adjusted Net Profit per share, which are non-IFRS financial measures. You should not consider these non-IFRS financial measures as substitutes for or superior to revenue, in the case of Total Net Revenue, PS Payment Net Revenue and PS Other Net Revenue; Net Profit, in the case of Adjusted EBITDA and Adjusted Net Profit, or earnings per share, in the case of Adjusted Net Profit per share, each prepared in accordance with IFRS.

Furthermore, because these non-IFRS financial measures are not determined in accordance with IFRS, they are susceptible to varying calculations and may not be comparable to other similarly titled measures presented by other companies. QIWI encourages investors and others to review our financial information in its entirety and not rely on a single financial measure. For more information regarding Total Net Revenue, PS Payment Net Revenue, PS Other Net Revenue, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted Net Profit, and Adjusted Net Profit per share, including a quantitative reconciliation of Total Net Revenue, PS Payment Net Revenue, PS Other Net Revenue, Adjusted EBITDA and Adjusted Net Profit to the most directly comparable IFRS financial performance measure, which is revenue in the case of Total Net Revenue, PS Payment Net Revenue and PS Other Net Revenue and Net Profit in the case of Adjusted EBITDA and Adjusted Net Profit, see Reconciliation of IFRS to Non-IFRS Operating Results in this earnings release.

We define non-IFRS financial measures as follows:

Total Net Revenue is a key measure used by management to observe our operational profitability since it reflects our portion of the revenue net of fees that we pass through, primarily to our agents and other reload channels providers. In addition, under IFRS, most types of fees are presented on a gross basis whereas certain types of fees are presented on a net basis. Therefore, in order to analyze our two sources of payment processing fees on a comparative basis, management reviews Total Net Revenue.

Adjusted EBITDA is a key measure used by management, is serves as a supplemental performance measure that facilitates operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in capital structures (affecting interest expenses, net), changes in foreign exchange rates that impact financial asset and liabilities denominated in currencies other than our functional currency (affecting foreign exchange (loss)/gain, net), tax positions (such as the impact on periods or companies of changes in effective tax rates), the age and book depreciation of fixed assets (affecting relative depreciation expense), non-cash charges (affecting share-based payments expenses and impairment of non-current assets), and certain one-time income and expenses (affecting other income, offering and related expenses, loss from sale of Sovest loan portfolio, etc.). Adjusted EBITDA also excludes other expenses, share in losses of associates and impairment of investment in associates because we believe it is helpful to view the performance of our business excluding the impact of entities that we do not control, and because our share of the net income (loss) of the associate and other expenses includes items that have been excluded from Adjusted EBITDA (such as finance expenses, net, income tax, and depreciation and amortization). Because Adjusted EBITDA facilitates internal comparisons of operating performance on a more consistent basis, we also use Adjusted EBITDA in measuring our performance relative to that of our competitors.

Adjusted Net Profit is a key measure used by management to observe the operational profitability of the company. We believe Adjusted Net Profit is useful to an investor in evaluating our operating performance because it measures a company’s operating performance without the effect of non-recurring items or items that are not core to our operations. For example, loss on disposals of subsidiaries and the effects of deferred taxation on excluded items do not represent the core operations of the business, and fair value adjustments recorded on business combinations and their amortization, impairment of non-current assets and share-based payments expenses do not have a substantial cash effect. Nevertheless, such gains and losses can affect our financial performance.

Payment Services segment payment volume provides a measure of the overall size and growth of the business, and increasing our payment volumes is essential to growing our profitability.

Payment Services segment net revenue yield. We calculate Payment Services segment net revenue yield by dividing Payment Services segment net revenue by Payment Services segment payment volume. Payment Services segment net revenue yield provides a measure of our ability to generate net revenue per unit of volume we process.

We define these measures as follows:

QIWI plc.

Reconciliation of IFRS to Non-IFRS Operating Results

(in millions, except per share data)