FINANCIAL AND CAPITAL RISK MANAGEMENT (Tables)

12 Months Ended

Dec. 31, 2024

FINANCIAL AND CAPITAL RISK MANAGEMENT

Schedule of exposure to foreign exchange rate risk


		As of 31 December 2024
		US Dollar		Euro		GBP		CHF		Total

Assets:
Cash and cash equivalents		435,244		11,717		44		36		447,041
Financial investments		2,355,222		—		—		—		2,355,222
Trade receivables and due from related parties		173,231		35,612		—		—		208,843
Other current assets		23		—		—		—		23

Total assets		2,963,720		47,329		44		36		3,011,129

Liabilities:
Trade payables and payables to merchants and due to related parties		(1,395,124)		(13,574)		—		(32)		(1,408,730)
Other current liabilities		(25,027)		(238)		—		—		(25,265)

Total liabilities		(1,420,151)		(13,812)		—		(32)		(1,433,995)

Net foreign currency position		1,543,569		33,517		44		4		1,577,134


		As of 31 December 2023
		US Dollar		Euro		GBP		CHF		Total

Assets:
Cash and cash equivalents		6,306,978		4,598		127		78		6,311,781
Financial investments		2,487,275		—		—		—		2,487,275
Trade receivables and due from related parties		59,864		5,045		—		—		64,909
Other current assets		3,589		—		—		—		3,589

Total assets		8,857,706		9,643		127		78		8,867,554

Liabilities:
Trade payables and payables to merchants and due to related parties		(1,779,315)		(14,874)		(517)		(46)		(1,794,752)
Short term provisions		(76,486)		—		—		—		(76,486)

Total liabilities		(1,855,801)		(14,874)		(517)		(46)		(1,871,238)

Net foreign currency position		7,001,905		(5,231)		(390)		32		6,996,316

Schedule of expected credit loss from trade and loan receivables


				Overdue 0-1		Overdue 1-3		Overdue 3-12		Overdue more than
31 December 2024		Not due		months		months		months		12 months		Total
Trade receivables		3,385,115		289,205		268,028		288,555		60,859		4,291,762
Expected credit loss		14,528		17,187		47,163		87,480		60,140		226,498
Loan receivables		543,248		92,560		108,253		97,407		—		841,468
Expected credit loss		10,556		10,347		35,449		93,184		—		149,536


				Overdue 0-1		Overdue 1-3		Overdue 3-12		Overdue more than
31 December 2023		Not due		months		months		months		12 months		Total
Trade receivables		3,234,116		107,738		20,277		16,332		48,043		3,426,506
Expected credit loss		18,688		1,609		7,258		14,076		48,043		89,674

Schedule of liquidity risk arising from financial liabilities


				Contractual
		Carrying		undiscounted		Up to		3 – 12		1 – 5
2024		value		cash flow		3 months		months		years

Non-derivative financial instruments:
Trade payables and payables to merchants		14,973,751		15,241,294		14,082,263		1,159,031		—
Lease liabilities		992,769		1,764,623		166,194		462,237		1,136,192
Bank borrowings		1,682,686		1,793,294		1,725,596		67,698		—
Wallet deposits		177,607		177,607		177,607		—		—
Due to related parties		12,941		12,941		12,941		—		—
		17,839,754		18,989,759		16,164,601		1,688,966		1,136,192


				Contractual
		Carrying		undiscounted		Up to		3 – 12		1 – 5
2023		value		cash flow		3 months		months		years

Non-derivative financial instruments:
Trade payables and payables to merchants		15,250,729		15,564,280		14,848,597		715,683		—
Lease liabilities		399,053		531,824		95,665		186,667		249,492
Bank borrowings		268,949		271,975		259,330		8,387		4,258
Wallet deposits		272,027		272,027		272,027		—		—
Due to related parties		6,697		6,697		6,697		—		—
		16,197,455		16,646,803		15,482,316		910,737		253,750

Schedule of net debt to equity ratios


		2024		2023

Net debt (Note 24)		(4,074,724)		(7,272,831)
Total equity		3,321,480		4,768,513

Net debt to equity ratio		-123	%	-153	%