Cash flows
Cash flows, RUB mn
|
2014 |
2015 |
Change, % |
| Net cash generated from operating activities |
283 965 |
285 175 |
0.4 |
| Net cash used for investment activities |
(364 792) |
(314 511) |
(13.8) |
| Net cash generated from financial activities |
10 573 |
82 193 |
677.4 |
| Net increase / (decrease) in cash and cash equivalents |
(70 254) |
52 857 |
— |
Net cash generated from operating activities, RUB mn
|
2014 |
2015 |
Change, % |
| Net cash generated by operating activities before the effect of changes in working capital, profit tax, interest and dividends |
304 421 |
312 169 |
2.5 |
| Changes in working capital |
23 907 |
18 342 |
(23.3) |
| Profit tax paid |
(30 122) |
(19 522) |
(35.2) |
| Interest paid |
(16 624) |
(28 229) |
69.8 |
| Dividends paid |
2 383 |
2 415 |
1.3 |
| Net cash generated from operating activities |
283 965 |
285 175 |
0.4 |
Net cash generated from operating activities increased by 0.4% primarily as a result of higher operating profit, which was partially offset by growth in interest expenses and the change in working capital.
Net cash used for investment activities, RUB mn
|
2014 |
2015 |
Change, % |
| Capital expenditures |
(271 330) |
(349 036) |
28.6 |
| Acquisition of subsidiaries, stakes in joint activities and investments recorded using the equity method |
(57 848) |
197 |
— |
| Receipt / (Placement) of cash deposits |
(15 877) |
45 745 |
— |
| Other transactions |
(19 737) |
(11 417) |
(42.2) |
| Net cash used for investment activities |
(364 792) |
(314 511) |
(13.8) |
Net cash used for investment activities decreased by 13.8% year-on-year. Growth in capital expenditures was offset by less spending on the acquisition of new assets.
Net cash generated from financial activities, RUB mn
|
2014 |
2015 |
Change, % |
| Receipt of loans and credits |
67 160 |
121 565 |
81.0 |
| Dividend payments to Company shareholders |
(46 755) |
(36 346) |
(22.3) |
| Acquisition of non-controlling interests |
(4 118) |
— |
— |
| Other transactions |
(5 714) |
(3 026) |
(47.0) |
| Net cash generated from financial activities |
10 573 |
82 193 |
677.4 |
Net cash generated from financial activities increased due to the large volume of loans and credits received.
