Home / Appendixes / Statements in accordance with IFRS / Consolidated Statement of Cash Flows for the year ended 31 December 2011
Consolidated Statement of Cash Flows for the year ended 31 December 2011
Thousands of Russian Roubles, unless otherwise stated
| Note | Year ended 31 December 2011 |
Year ended 31 December 2010 |
|
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|||
| Profit before income tax | 7,375,517 | 6,389,779 | |
| Adjustments for: | |||
| Depreciation and amortization | 8 | 6,284,802 | 5,011,364 |
| Allowance for impairment of accounts receivable | 8 | 477,586 | 272,690 |
| Net finance costs | 10 | 1,556,289 | 1,506,882 |
| Provision for inventory obsolescence | (26,990) | (97,515) | |
| Loss on disposal of property, plant and equipment | 162,888 | 101,084 | |
| Bad debts written-off | 8 | 21,237 | 6,120 |
| Gain on bargain purchase on acquisition of subsidiary | 5 | — | (448,521) |
| Adjustment for other non-cash transactions | (47,299) | (259,508) | |
| Cash flows from operating activities before changes in working capital | 15,804,030 | 12,482,375 | |
| Change in trade and other receivables | (1,707,913) | (2,293,630) | |
| Change in inventories | (68,305) | 24,993 | |
| Change in other assets | 14,408 | 355,305 | |
| Change in trade and other payables | 805,716 | 83,123 | |
| Change in employee payables | 119,146 | 346,393 | |
| Change in employee benefits | 99,145 | 245,549 | |
| Change in other liabilities | 121,888 | (238,422) | |
| Change in other taxes payable | 98,601 | (494,039) | |
| Cash flows from operations before income taxes and interest paid | 15,286,716 | 10,511,647 | |
| Interest paid | (1,487,730) | (1,609,008) | |
| Income tax paid | (981,244) | (576,812) | |
| Cash flows from operating activities | 12,817,742 | 8,325,827 | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Acquisition of property, plant and equipment and intangible assets | (15,716,156) | (10,497,661) | |
| Proceeds from disposal of property, plant and equipment | 56,893 | 43,386 | |
| Acquisition of subsidiaries, net of cash acquired | 5 | — | (1,075,117) |
| Interest received | 10 | 117,763 | 35,512 |
| Cash flows used in investing activities | (15,541,500) | (11,493,880) | |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from loans and borrowings | 7,611,836 | 9,858,996 | |
| Repayment of loans and borrowings | (1,340,629) | (6,038,549) | |
| Dividends paid | (579,203) | — | |
| Repayment of finance lease liabilities | (580,983) | (761,676) | |
| Cash flows from financing activities | 5,111,021 | 3,058,771 | |
| Net increase/(decrease) in cash and cash equivalents | 2,387,263 | (109,282) | |
| Cash and cash equivalents at beginning of year | 258,889 | 368,171 | |
| Cash and cash equivalents at end of year | 17 | 2,646,152 | 258,889 |
| General Director: |  | D.O. Gudzhoyan | Chief accountant: |  | M.V. Danilova |
| 6 April 2012 |
The consolidated statement of cash flows is to be read in conjunction with the notes to, and forming part of, the consolidated financial statements.