Investor Presentaiton
INDEBTEDNESS
During 2011 the total net debt increased by 51.8% YoY compared to 2010
Interest paid decreased by 33.3%, from USD 9 mln. to USD 6 mln.
The average effective interest rate decreased to 7.7% p.a.
Net Debt to EBITDA ratio reduced from 0.82 to 0.68
Debt structure(1) by currency as of Dec 2011
Net Debt to EBITDA(2)
140
125
120
133
4
14%
■ USD loans
USD 82 mln.
■ RUB loans
86%
K
100
60
80
USD mln.
3
Debt maturity structure (1)
62
82
59
69
70
70
2
80
58
Total Debt(3):
70
70
60
60
1.81
70
USD 141 mln.
62
62
60
40
40
1
50
0.82
0.68
40
20
USD mln.
30
0
2009
2010
2011
Net debt
EBITDA
--Net debt/EBITDA
0
20
10
10
0
> 1 year
1-3 years
> 3 years
Source: audited 2009, 2010, 2011 IFRS FS in which all amounts are presented in RUB
(1) Figures were converted to USD using the average exchange rates of the Central Bank of the Russian Federation for each period (2011: 32.20 RUB/USD; 2010: 30.48 RUB/USD; 2009:
30.24 RUB/USD)
(2) Figures were converted to USD using the average exchange rates of the Central Bank of the Russian Federation for each period (2011: 29.39 RUB/USD; 2010: 30.38 RUB/USD; 2009:
31.77 RUB/USD)
(3) Calculations are made before rounding of figures converted to USD
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