Skip to content

The information below represents the Group’s financial position as of 31 December 2017

As of 31 December 2017, the Group’s Total debt was broadly steady at 16,331 million. The Group’s financial indebtedness consisted primarily of bank borrowings. The Group’s Net Debt (a non-GAAP financial measure) is defined as the sum of total borrowings (including interest accrued) less “Cash and cash equivalents”.
Net Debt
was RUB 11,365 million as of 31 December 2017, a 1% decrease from the level of Net Debt at the end of 2016. The Group’s leverage further improved with a ratio of Net Debt to Adjusted EBITDA (a non-GAAP financial measure) represents EBITDA excluding “Net foreign exchange transaction gains/(losses) on borrowings and other liabilities”, “Net foreign exchange transaction gains/(losses) on cash and cash equivalents and other monetary assets”, “Share of profit/(loss) of associate”, “Other gains - net”, “Net profit/(loss) on sale of property, plant and equipment”, “Impairment of property, plant and equipment”, “Impairment of intangible assets” and “Loss on derecognition arising on capital repairs”.
Adjusted EBITDA
for the year ended 31 December 2017 of 0.4x, compared with 0.7x at the end of 2016. Rouble-denominated borrowings accounted for 100% of the Group’s debt portfolio as of the end of 31 December 2017. The Russian rouble is the functional currency of the Company.

The weighted average effective interest rate further reduced to 9.4% as of 31 December 2017 compared to 11.0% as of the end of 2016 on the back of continued improvement in the Russian financial market conditions. The vast majority of the Group’s debt had fixed interest rates as of 31 December 2017. The Group has a balanced maturity profile, supported by the Group’s strong cash flow generation, available cash and cash equivalents, as well as undrawn borrowing facilities in the amount of RUB 19,140 million as of 31 December 2017

For more information, please click here

Last updated: 15.06.2018