Summer Garden Investor Presentation
INVESTOR PRESENTATION
35
ROBUST FINANCIAL POSITION
AFTER 1H 2021
TOTAL DEBT
RUB bln
Q+19%
CASH AND CASH EQUIVALENTS
RUB bln
NET DEBT (CASH)
RUB bln
1.8x
0.03x
+57%
77.9
19.6
60.3
37.9
50.5
49.5
19.6
5.0
23.6
0.6
4.7x
1.9x
45.5
40.7
40.0
25.9
(18.6)
(18.3)
Net corporate debt
to LTM pre-PPA
EBITDA ratio
Coverage
ratio for
project
finance debt
PROJECT LEVEL
CORPORATE LEVEL
Net corporate debt to LTM
pre-PPA EBITDA decreased
from 1.8x to 0.03x as of
30.06.2021
All project finance
obligations are well covered
to access reduced interest
rates ranging from 0.01% to
3.5%
■ Average cost of borrowings
declined from 8.3% at the
end of 2020 to 6.7% at
30.06.2021
31.12.2020
Project debt
Corporate debt
30.06.2021
31.12.2020
30.06.2021
Cash in escrow accounts
Cash & cash equivalents(1)
Source: IFRS Financial statements, Company data; y-o-y change and net debt level were calculated without rounding
(1) Including bank deposits over 3 months; excluding cash collections in escrow accounts
(2) Project finance debt less cash on escrow accounts
(3) Projects debt used in calculation of coverage ratio includes escrow adjustments
31.12.2020
Net project debt (cash)(2)
Net corporate debt
30.06.2021
Net corporate debt to LTM pre-PPA EBITDA
● X.Xx Coverage ratio for project finance debt(3)View entire presentation