HMS HYDRAULIC MACHINES & SYSTEMS GROUP PLC Construction[iv] ? Order intake equaled Rub 2.0 billion. Backlog stood at Rub 1.4 billion. ? Revenue was down to Rub 193 million, compared with Rub 237 million for 3m 2020. EBITDA was Rub (18) million,
compared with Rub 23 million last year.
in millions of Rub 3m 2021 3m 2020 Change yoy 1Q 2021 4Q 2020 Change qoq Orders 1,955 203 866% 1,955 32 6002% Backlog 1,358 834 63% 1,358 1,541 -12% Revenue 193 237 -19% 193 138 40% EBITDA (18) 23 -179% (18) (43) na EBITDA margin -9.2% 9.5% -9.2% -31.2%
Working capital and Capital expenditures ? Working capital increased to Rub 8.2 billion, by 17% yoy, compared with Rub 7.1 billion at the end of 3m 2020. As a
share of revenue LTM, working capital stood at 16.9%, compared with 13.6% for 3m 2020. ? Maintenance capex was Rub 440 million, up by 32% yoy, compared with Rub 334 million during 3m 2020
in millions of Rub 3m 2021 3m 2020 Change yoy 1Q 2021 4Q 2020 Change qoq Working capital 8,183 7,019 17% 8,183 6,752 21% Working capital / Revenue LTM 16.9% 13.6% 16.9% 14.5% Maintenance capex 440 334 32% 440 250 76% Acquisitions - - - -
DEBT POSITION ? Total debt up to Rub 22.2 billion, by 3% yoy, compared with Rub 21.5 billion at the end of 3m 2020. ? Net debt was Rub 13.1 billion, up by 7% yoy, compared with Rub 12.2 billion at the end of 3m 2020. ? Net debt to EBITDA LTM ratio stood at 2.52x.
in millions of Rub 3m 2021 3m 2020 Change yoy 1Q 2021 4Q 2020 Change qoq Total debt 22,209 21,501 3% 22,209 22,175 0% Net debt 13,053 12,228 7% 13,053 11,814 10% Net debt / EBITDA LTM 2.52 2.26 2.52 2.39
SIGNIFICANT EVENTS AFTER THE REPORTING DATE
BUYBACK PROGRAM ? After the reporting date, no GDRs have been purchased under the buyback program.
DIVIDENDS ? The Board of Directors at the meeting on April 21, 2021, recommended payment of the final dividends in respect of
FY 2020 in the amount of Rub 4.25 per one ordinary share (Rub 21.25 per one GDR). The dividends are subject to the
approval at the AGM on June 24, 2021. Subject to such approval, the dividends may be paid on July 1, 2021, to
shareholders on the HMS' register at close of business (UK time) on June 18, 2021 (the "Record date").
MOEX LISTING ? On May 21, 2021, HMS Group's GDRs have been listed on the Moscow Exchange. ? On May 25, 2021, the Moscow Exchange commenced trading of HMS' GDRs under the "HMSG" ticker. These GDRs continue
trading on the Main Market of the London Stock Exchange.
***
Webcast to discuss 3 months 2021 IFRS results
Date: Thursday, June 10, 2021
Time: 2.30 PM (MOSCOW) / 12.30 PM (London) / 7.30 AM (NY)
HMS Group 3m 2021 IFRS results
Conference passcode: 6189356
To participate in the conference call, please dial in:
Russia Local: +7 499 609 1260
Russia Toll Free: 8 800 100 9471
UK Local: +44 (0)330 027 1846
UK Toll Free: 0800 031 4838
US Local: +1 334 777 6978
US Toll Free: 800 367 2403
Live link
https://www.webcast-eqs.com/hmsgroup20210610
Contacts:
Investor Relations, ir@hms.ru
***
HMS Group is the leading pump and compressor manufacturer, as well as provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. HMS Group's products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia's core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. HMS Group's global depositary receipts ("GDRs") are listed under the symbol "HMSG" on the London Stock Exchange and the Moscow Exchange.
Press Release Information Accuracy Disclaimer
Information published in press releases was accurate at the time of publication but may be superseded by subsequent releases or other information.
LEI: 254900DDFETNLASV8M53
Consolidated Statement of Financial Position at 31 March 2021 (unaudited)
in thousands of Russian Roubles, unless otherwise stated
31 March 2021 31 December 2020
ASSETS
Non-current assets:
Property, plant and equipment 14,669,855 14,684,279
Other intangible assets 1,686,765 1,743,399
Goodwill 3,229,718 3,255,984
Right-of-use assets 180,671 183,211
Investments in associates 96,327 94,307
Deferred income tax assets 785,583 786,455
Other long-term assets 32,104 42,252
Investment property 174,421 176,833
Total non-current assets 20,855,444 20,966,720
Current assets:
Inventories 9,807,812 8,847,749
Trade and other receivables and other financial assets 15,544,287 15,598,766
Contract assets 6,744,322 6,201,354
Current income tax receivable 169,566 94,972
Cash and cash equivalents 9,156,029 10,360,588
Total current assets 41,422,016 41,103,429
TOTAL ASSETS 62,277,460 62,070,149
EQUITY AND LIABILITIES
EQUITY
Share capital 48,329 48,329
Share premium 3,523,535 3,523,535
Treasury shares (93,775) (33,055)
Other reserves 129,392 129,392
Currency translation reserve 710,901 646,427
Retained earnings 5,553,565 5,510,974
Equity attributable to the shareholders of the Company 9,871,947 9,825,602
Non-controlling interests 3,536,933 3,518,674
TOTAL EQUITY 13,408,880 13,344,276
LIABILITIES
Non-current liabilities:
Long-term borrowings 18,398,671 20,452,736
Deferred income tax liability 1,415,292 1,421,489
Retirement benefit obligations 663,438 646,213
Provisions for liabilities and charges 200,894 228,199
Lease liabilities 150,902 153,048
Other long-term payables 278,683 230,581
Total non-current liabilities 21,107,880 23,132,266
Current liabilities:
Trade and other payables 18,642,755 17,969,950
Contract liabilities 3,636,178 4,304,845
Short-term borrowings 3,638,794 1,548,574
Provisions for liabilities and charges 555,459 589,762
Retirement benefit obligations 79,265 77,859
Lease liabilities 20,683 20,440
Current income tax payable 94,250 134,080
Other taxes payable 1,093,316 948,097
Total current liabilities 27,760,700 25,593,607
TOTAL LIABILITIES 48,868,580 48,725,873
TOTAL EQUITY AND LIABILITIES 62,277,460 62,070,149 Consolidated Statement of Profit or Loss and Other Comprehensive Income for the three months ended 31 March 2021 (unaudited)
in thousands of Russian Roubles, unless otherwise stated
Three months Three months
ended ended
31 March 31 March
2021 2020
Revenue 11,190,623 9,115,230
Cost of sales (9,103,584) (7,127,211)
Gross profit 2,087,039 1,988,019
Distribution and transportation expenses (322,858) (492,562)
General and administrative expenses (1,202,761) (1,216,646)
Other operating income/(expenses), net 4,705 (13,732)
Operating profit 566,125 265,079
Finance income 46,385 93,068
Finance costs (459,418) (481,025)
Share of results of associates 90 165
Profit/(loss) before income tax 153,182 (122,713)
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