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SSAA - AFK Sistema PAO News Story

$5.34 0.0  0.0%

Last Trade - 08/09/20

Market Cap £2.00bn
Enterprise Value £8.90bn
Revenue £6.04bn
Position in Universe 267th / 1807

Sistema PJSFC - FINANCIAL RESULTS FOR THE FIRST QUARTER 2017 - Part 2

Mon 5th June, 2017 8:00am
- Part 2: For the preceding part double click  ID:nRSE1217Ha 

adjusted OIBDA, adjusted operating income and
adjusted profit/(loss) attributable to Sistema shareholders to evaluate
financial performance of the Group. These represent underlying financial
measures adjusted for a number of one-off gains and losses. We believe that
adjusted measures provide investors with additional useful information to
measure our underlying financial performance, particularly from period to
period, because these measures are exclusive of certain one-off gains and
losses. 
 
Adjusted operating income and adjusted OIBDA can be reconciled to our
consolidated statements of profit and loss as follows: 
 
 RUB millions                                          1Q 2017  1Q  2016  
 Operating income                                      20,267   19,716    
 Impairment of goodwill (subsidiary of Segezha Group)  -        241       
 Adjusted operating income                             20,267   19,957    
 Depreciation and amortisation                         24,129   23,044    
 Adjusted OIBDA                                        44,395   43,001    
 
 
Adjusted profit / (loss) attributable to Sistema shareholders can be
reconciled to our consolidated statements of profit and loss as follows: 
 
 RUB millions                                          1Q 2017  1Q  2016  
 Profit attributable to Sistema                        1,579    1,994     
 Impairment of goodwill (subsidiary of Segezha Group)  -        241       
 Adjusted profit attributable to Sistema               1,579    2,235     
 
 
Net debt at the Corporate Centre level. We define net debt as indebtedness
less cash, cash equivalents and other liquid deposits and financial
instruments. The indebtedness is defined as long-term debt, including its
current portion, and short-term debt. We believe that the presentation of net
debt at the Corporate Centre level provides useful information to investors
because we use this measure in our management of the Corporate Centre's
liquidity, financial flexibility, capital structure and leverage. The IFRS
financial measure most directly comparable to net debt at the Corporate Centre
level is the indebtedness of our Corporate segment as reported in our segment
disclosures. Net debt at the Corporate Centre level can be reconciled to the
indebtedness of our Corporate segment as follows: 
 
 RUB millions                               1Q 2017   1Q  2016  
 Indebtedness of the Corporate segment      94,296    110,612   
 Cash and cash equivalents                  (14,659)  (12,738)  
 Liquid deposits and financial instruments  (5,825)   (21,082)  
 Net debt at the Corporate Centre level     73,813    76,792    
 
 
 1  See Attachment A for definitions and reconciliation of adjusted OIBDA and
adjusted profit to IFRS financial measures. 
 
 2  Including highly liquid deposits and liquid financial investments, based
on management accounts. See Attachment A for reconciliation to IFRS financial
measures. 
 
 3  Including highly liquid deposits and liquid financial investments, based
on management accounts. See Attachment A for reconciliation to IFRS financial
measures. 
 
 4 Here and from hereon, revenues are presented on an aggregated basis,
excluding revenues from intra-segment (between entities in the same segment)
transactions, but before inter-segment (between entities in different
segments) eliminations, unless accompanied by the word "consolidated". Amounts
attributable to individual companies, where appropriate, are shown prior to
both intra-segment and inter-segment eliminations and may differ from
respective standalone results due to certain reclassifications and
adjustments. 
 
 5  Including share in results of MTS Bank 
 
 6  Detsky Mir's results were adjusted for additional bonus accruals under the
LTI program (including related tax effects). 
 
 7  Based on management accounts 
 
This information is provided by RNS
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