Etalon Group Mortgage and Real Estate Market Insights
FCF calculation
FCF calculation
mln RUB
Comprehensive income
Adjustment for:
2010
2011
2012
2013
4,687
7,440
5,000
6,664
Depreciation
286
265
417
343
Gain on disposal of PP&E
(1)
(92)
(49)
(15)
Loss on disposal of subsidiaries
5
1
28
Gain on disposal of equity accounted investees
(24)
Finance income, net
490
(1,425)
(544)
(337)
Income tax expense
1,355
1,585
1,526
1,833
Income tax paid
(1,083)
(1,897)
(1,833)
(907)
Interest paid
(814)
(1,098)
(1,097)
(1,724)
(Increase)/Decrease in working capital
(6,109)
(8,628)
(7,572)
(6,903)
(Increase)/Decrease in invested capital
(298)
(609)
(773)
(416)
FCF
(1,482)
(4,482)
(4,897)
(1,462)
(Increase)/Decrease in working capital based on
2010
2011
2012
2013
CF statement
Change in inventories
1,520
(5,308)
(7,633)
(7,837)
Change in accounts receivable
(201)
(2,893)
(3,024)
(5,080)
Change in accounts payable
(6,659)
(818)
4,074
4,880
Change in provisions
(736)
367
(992)
1,109
Change in other current assets
(33)
24
3
25
Working capital change
(6,109)
(8,628)
(7,572)
(6,903)
(Increase)/Decrease in invested capital based on
2010
2011
2012
2013
CF statement
Acquisition of pp&e
(329)
(726)
(844)
(431)
Proceeds from disposal of non-current assets
31
117
71
15
Invested capital change
(298)
(609)
(773)
(416)
Etalon Group
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