Key financials
| IFRS pro-forma financial information | ||||
|---|---|---|---|---|
| Rub m | 2009 | 2010 | 2011 | |
| Revenue | 78,971 | 74,879 | 98,996 | |
| Gross profit | 10,612 | 11,060 | 13,001 | |
| Gross margin % | 13.4% | 14.8% | 13.1% | |
| Profit for the year | 1,361 | 1,043 | 3,705 | |
| Total Assets | 49,652 | 70,980 | 98,655 | |
| Total Debt | 10,454 | 6,675 | 7,632 | |
| Non-IFRS pro-forma financial information | |||||
|---|---|---|---|---|---|
| Rub m | 2009 | 2010 | 2011 | ||
| Adjusted net profit (a) | 3,774 | 4,423 | 5,324 | ||
| Adjusted net profit margin, % | 4.8% | 5.9% | 5.4% | ||
| EBITDA(b) | 8,157 | 9,004 | 9,549 | ||
| EBITDA margin, % | 10.3% | 12.0% | 9.6% | ||
| Net debt (с) | -2,338 | -13,275 | -21,622 | ||
| Net working capital (d) | -11,522 | -15,190 | -7,827 | ||
Financial information for 2011 is based on consolidated financial statements. Financial information for 2009 and 2010 is based on Group unaudited pro forma financial results which have been prepared to illustrate the effect that the acquisition by Mostotrest of a 51.0% equity interest in ETS, completed on 28 June 2010 and a 50.1% equity interest in TSM, completed on 13 May 2010 would have had on Mostotrest’s consolidated statements of comprehensive income if those acquisitions had taken place on 1 January 2009.
(a) Adjusted for dividends paid by TSM and ETS in the respective periods, for non-controlling interest in TSM and ETS accounted as a part of Finance costs and for the adjustment for depreciation of intangible assets.
(b) EBITDA is defined as net profit from continuing operations net of income tax, net finance costs and depreciation.
(с) Net debt is defined as the loans and borrowings less cash and cash equivalents.
(d) Net working capital is defined as the difference between current operating assets (net of cash and cash equivalents, income tax receivable and other investments) and current operating non-interest bearing liabilities (net of loans and borrowings, provisions, deferred income and income tax liabilities)