Debt and Liquidity
|
31 Dec. 2013 |
31 Dec. 2014. |
Change, % |
|
|---|---|---|---|
|
Short-term credits and loans, mn RUB |
52,413 |
61,121 |
16.6 |
|
Long-term credits and loans, mn RUB |
261,455 |
502,306 |
92.1 |
|
Cash and cash equivalents, mn RUB |
–91,077 |
–53,167 |
41.6 |
|
Short-term deposits, mn RUB |
–36,869 |
–76,658 |
–107.9 |
|
NET DEBT, MN RUB |
185,922 |
433,602 |
133.2 |
|
Short-term loans and credits / total debt, % |
16.7 |
10.8 |
–5.9 |
|
Ratio of net debt to EBITDA in annual terms |
0.59 |
1.44 |
0.85 |
The Company’s loan portfolio is diversified and includes syndicated and bilateral loans, bonds and other instruments. The growth of Company’s net debt is due to the decrease in rouble/dollar exchange rate in the second half of 2014.