Investor Presentaiton
Cashflow statement
RUB mln
Operating Activities
Profit for the period
Adjustments for:
Depreciation
Loss (gain) on disposal of PP&E
Impairment loss on investment property
1H13
1H14
1H15
2013
2014
2015
3,098
927
2,193
6,664
8,369
5,429
168
204
213
343
417
406
(27)
(46)
20
(15)
(52)
(65)
60
166
280
215
Impairment loss on inventories
85
30
466
514
Finance income, net
(319)
(149)
(405)
(337)
(1,164)
(1,182)
Income tax expense
822
302
795
1,833
2,026
2,002
Cash from operating activities before changes in working capital
3,742
1,383
3,012
8,488
10,342
7,319
Change in inventories
(1,957)
(6,763)
(2,418)
(7,837)
(6,890)
(8,255)
Change in accounts receivable
(3,243)
(2,093)
(366)
(5,080)
(1,427)
(3,958)
Change in accounts payable
1,478
10,135
(1,461)
4,880
1,184
2,369
Change in provisions
Change in other current assets
Income tax paid
Interest paid
(317)
(324)
(600)
1,109
594
1,315
12
(11)
25
(59)
59
(632)
(742)
(1,605)
(907)
(1,645)
(2,146)
(871)
(683)
(1,180)
(1,724)
(1,588)
(2,516)
Net cash from/(used in) operating activities
(1,788)
902
(4,618)
(1,046)
511
(5,813)
Investing Activities
Proceeds from disposal of non-current assets
57
52
29
15
66
188
Interest received
351
342
802
611
823
1,311
Acquisition of PP&E
(160)
(364)
(95)
(431)
(653)
(369)
Loans given
(37)
(16)
(4)
(55)
(178)
(123)
Loans repaid
17
79
21
85
174
66
Acquisition of subsidiaries, net of cash acquired
10
Disposal of subsidiaries, net of cash disposed of
(7)
(3)
(20)
7
(Acquisition)/disposal of other investments
2,850
(964)
(598)
1,606
3,038
1,155
Net cash used in investing activities
3,071
(871)
152
1,821
3,277
2,228
Financing activities
Acquisition of non-controlling interest
Proceeds from borrowings
(66)
(10)
(83)
(20)
2,785
5,627
4,707
5,937
10,763
9,480
Repayments of borrowings
(6,624)
(4,278)
(2,323)
(9,668)
(8,498)
(6,281)
Acquisition of own shares
Dividends paid
Net cash from/(used in) financing activities
Net increase/(decrease) in cash and cash equivalents
Effect of FX rate fluctuations
Cash & cash equivalents at the end of the period
Source: IFRS financial statements for 1H13, 1H14, 1H15, 2013, 2014, 2015
16
16
16
(1,834)
(1,124)
(2,452)
(3,839)
1,365
484
(3,741)
1,074
743
(2,556)
1,396
(3,982)
(2,966)
4,862
(2,842)
399
8,559
100
9,635
(607)
10,042
389
1,630
(257)
8,139
14,631
11,532
Etalon Group
Operating
Results
Landbank
Valuation
Financial
Results
Selected
Projects
Appendix
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