Consolidated Statement of Cash Flows for the year ended 31 December 201
| Note | 2012 RUB Million |
2011 RUB Million |
|
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Profit before taxation | 31,214 | 28,296 | |
| Adjustments for: | |||
| Depreciation and amortisation | 10, 11, 12 | 6,521 | 6,051 |
| Negative goodwill on consolidation of LLC "Metachem" | 35 | (678) | — |
| Reversal of impairment loss | 13 | — | (190) |
| Loss on disposal of fixed assets | 13 | 193 | 24 |
| Finance costs | 14 | 1,450 | 1,329 |
| Finance income | 14 | (2,070) | (824) |
| Share of profit of associates | 17 | (166) | (2,318) |
| Foreign exchange (gain)/loss | (1,203) | 2,967 | |
| Operating profit before changes in working capital and provisions | 35,261 | 35,335 | |
| Increase in inventories | (1,843) | (2,379) | |
| (Increase)/decrease in trade and other receivables | (324) | 4,499 | |
| Increase in trade and other payables | 915 | 1,184 | |
| Cash flows from operations before income taxes and interest paid | 34,009 | 38,639 | |
| Income tax paid | (7,117) | (5,399) | |
| Finance costs paid | (1,429) | (865) | |
| Cash flows from operating activities | 25,463 | 32,375 | |
| INVESTING ACTIVITIES | |||
| Loans issued/(repaid) | (153) | 3,125 | |
| Acquisition of intangible assets | (110) | (115) | |
| Acquisition of property, plant and equipment | (13,370) | (12,905) | |
| Proceeds from disposal of property, plant and equipment | 251 | 527 | |
| Proceeds from disposal of investments | 669 | 1,391 | |
| Acquisition of investments | (21) | (950) | |
| Acquisition of investments in associates | (987) | (471) | |
| Consolidation of LLC "Metachem" | 35 | 84 | — |
| Additional equity contribution in associates | (511) | — | |
| Finance income received | 1,569 | 819 | |
| Dividends received | 10 | 1,840 | |
| Cash flows used in investing activities | (12,569) | (6,739) | |
| FINANCING ACTIVITIES | |||
| Proceeds from borrowings | 21,375 | 38,967 | |
| Repayment of borrowings | (15,941) | (19,999) | |
| Proceeds from disposal of treasury shares | — | 791 | |
| Acquisition of non-controlling interests | (12,047) | (9,196) | |
| Proceeds from disposal of non-controlling interests | — | 9,864 | |
| Dividends paid to non-controlling interests | (364) | (1,676) | |
| Dividends paid to shareholders of the Parent | (11,890) | (32,253) | |
| Finance leases paid | (1,169) | (487) | |
| Cash flows used in financing activities | (20,036) | (13,989) | |
| Net (decrease)/increase in cash and cash equivalents | (7,142) | 11,647 | |
| Cash and cash equivalents at beginning of the year | 16,946 | 5,261 | |
| Effect of changes in exchange rates | (140) | 38 | |
| Cash and cash equivalents at end of the year | 9,664 | 16,946 | |
The consolidated statement of cash flows is to be read in conjunction with the notes to, and forming part of, the consolidated financial statements set out here.
top