Annual Report 2014
Notes | Year ended December 31, 2014 | Year ended December 31, 2013 | |
---|---|---|---|
Cash flows from / (used in) operating activities: | |||
Profit before tax | 20 028 141 | 14 623 899 | |
Adjustments for: | |||
Depreciation and amortization charge | 12 | 1 588 018 | 1 569 490 |
Interest expense on written put option on own shares | - | 199 686 | |
Fair value adjustment on securities at fair value through profit or loss | 369 215 | (107 889) | |
Share-based payment expense | 233 827 | 287 752 | |
Unrealized (gain) / loss on foreign exchange operations | (53 531) | 218 680 | |
Share of profits of associates | (7 356) | (74 605) | |
Loss on disposal of investments available-for-sale | 9 | 1 588 205 | 672 539 |
Net change in interest accruals | 3 246 | (129 032) | |
Net loss on disposal of property and equipment and intangible assets | 12 | 26 413 | 156 122 |
Gain from revaluation of previously held equity interest in the acquiree | 6 | (38 664) | - |
Impairment of goodwill and other intangible assets | 12 | 209 775 | - |
Impairment of other assets | 8 698 | 27 637 | |
Impairment of investments in associates | 12 | - | 118 715 |
Bargain gain | 6 | (18 596) | - |
Provision for onerous contracts | 12 | 173 203 | - |
Gain on disposal of non-current assets held for sale | 11 | (313 560) | - |
Changes in operating assets and liabilities: | |||
Due from financial institutions | (5 066 891) | (15 110 563) | |
Financial assets at fair value through profit or loss | (146 417) | 1 465 565 | |
Central counterparty financial assets | (92 601 238) | (44 185 092) | |
Other assets | (195 941) | (36 431) | |
Balances of market participants | 588 493 842 | 64 578 215 | |
Central counterparty financial liabilities | 92 601 238 | 44 185 092 | |
Distributions payable to holders of securities | 2 682 245 | (766 095) | |
Other liabilities | 696 231 | (412 871) | |
Cash flows from operating activities before taxation | 610 260 103 | 67 280 814 | |
Income tax paid | (2 752 593) | (2 826 984) | |
Cash flows from operating activities | 607 507 510 | 64 453 830 | |
Cash flows from / (used in) investing activities: | |||
Purchase of investments available-for-sale | (60 565 857) | (63 758 159) | |
Proceeds from disposal of investments available-for-sale | 58 870 341 | 46 003 713 | |
Purchase of property and equipment and intangible assets | (1 110 508) | (1 044 626) | |
Proceeds from redemption of investments held-to-maturity | - | 520 069 | |
Proceeds from disposal of property and equipment and intangible assets | 5 370 | 25 071 | |
Proceeds from sale of investments in associates | 593 890 | - | |
Acquisition of subsidiaries, net of cash acquired | 6 | 5 857 | - |
Disposal of subsidiaries, net of cash disposed | 440 000 | - | |
Cash flows used in investing activities | (1 760 907) | (18 253 932) | |
Cash flows from / (used in) financing activities: | |||
Dividends paid | (5 310 171) | (2 726 452) | |
Sale of treasury shares | 138 967 | 41 502 | |
Acquisition of non-controlling interest in subsidiaries | (2 057) | (27) | |
Disposal of non-controlling interest in subsidiaries | - | 1 519 | |
IPO proceeds, net of transaction costs paid | - | 5 757 600 | |
Acquisition of treasury shares | - | (1 527 896) | |
Loans (repaid) / received | (50 068) | 30 055 | |
Proceeds from issue of ordinary shares | - | 5 822 | |
Cash flows (used in) / from financing activities | (5 223 329) | 1 582 123 | |
Effect of changes in foreign exchange rates on cash and cash equivalents | 306 199 374 | 15 921 982 | |
Net increase in cash and cash equivalents | 906 722 648 | 63 704 003 | |
Cash and cash equivalents, beginning of year | 15 | 257 060 487 | 193 356 484 |
Cash and cash equivalents, end of year | 15 | 1 163 783 135 | 257 060 487 |
Interest received by the Group during the year ended December 31, 2014, amounted to RUB 14 464 307 thousand (December 31, 2013: RUB 11 014 096 thousand).
Interest paid by the Group during the year ended December 31, 2014, amounted to RUB 531 357 thousand (December 31, 2013: RUB 4 720 thousand).