MECHEL PAO Total equity and liabilities............................................... 193,840 312,505
CONSOLIDATED STATEMENT OF CASH FLOWS
for the year ended December 31, 2020
(All amounts are in millions of Russian rubles)
Year ended December
31,
2020 2019
Cash flows from operating activities
(Loss) profit for the period from continuing operations...................... (40,153) 11,075
Profit (loss) after tax for the period from discontinued operations............... 41,609 (6,790)
Profit for the period............................................ 1,456 4,285
Adjustments to reconcile profit to net cash provided by operating activities
Depreciation and amortisation...................................... 14,818 15,176
Foreign exchange loss (gain), net.................................... 37,765 (19,241)
Deferred income tax expense ...................................... 2,574 2,288
Changes in allowance for expected credit losses and write-off of trade and other 48 73
receivables and payables, net
Write-off of inventories to net realisable value........................... 928 1,763
Impairment of goodwill and other non-current assets, net and loss on write-off of non- 4,350 2,880
current assets
Finance income............................................... (3,504) (600)
Finance costs including fines and penalties on overdue loans and borrowings and lease 26,853 38,830
payments
Provisions for legal claims, income tax and other taxes and other provisions........ 24 3,630
Gain on sale of discontinued operations................................ (45,580) -
Other...................................................... (167) 198
Changes in working capital items
Trade and other receivables...................................... (236) 1,546
Inventories................................................. (5,283) (1,511)
Trade and other payables........................................ 1,137 4,037
Advances received............................................ 995 650
Taxes payable and other liabilities.................................. 4,580 5,151
Other assets................................................. (1,474) 1,238
Income tax paid............................................... (1,335) (2,735)
Net cash provided by operating activities............................. 37,949 57,658
Year ended
December 31,
2020 2019
Cash flows from investing activities
Interest received............................................... 129 76
Royalty and other proceeds associated with disposal of subsidiaries............. - 17
Proceeds from loans issued and other investments......................... 39 313
Proceeds from disposal of the discontinued operations, net of cash disposed of...... 88,979 -
Proceeds from disposals of property, plant and equipment.................... 119 211
Purchases of property, plant and equipment............................. (4,826) (6,282)
Interest paid, capitalised.......................................... (57) (256)
Net cash provided by (used in) investing activities....................... 84,383 (5,921)
Cash flows from financing activities
Proceeds from loans and borrowings, including proceeds from factoring arrangement of RUB 1
million, RUB 214 million and RUB 918 million for the periods ended December 31, 2020, 2019 and 77,367 7,599
2018, respectively
Repayment of loans and borrowings, including payments from factoring arrangement of RUB 353
million, RUB 2,222 million and RUB 435 million for the periods ended December 31, 2020, 2019 (176,883) (20,772)
and 2018, respectively
Repurchase of common shares...................................... (844) -
Sale and purchase of non-controlling interest in subsidiaries.................. 169 -
Dividends paid to shareholders of Mechel PAO.......................... (292) (1,515)
Dividends paid to non-controlling interests.............................. (3) (16)
Interest paid, including fines and penalties.............................. (22,912) (30,923)
Payment of principal portion of lease liabilities........................... (2,660) (2,276)
Sale and leaseback transactions..................................... 462 248
Acquisition of assets under deferred payment terms........................ (508) (341)
Deferred consideration paid for the acquisition of subsidiaries in prior periods...... - (361)
Net cash used in financing activities................................. (126,104) (48,357)
Foreign exchange (loss) gain on cash and cash equivalents, net................ (61) (891)
Changes in allowance for expected credit losses on cash and cash equivalents....... 28 (2)
Net (decrease) increase in cash and cash equivalents..................... (3,805) 2,487
Cash and cash equivalents at beginning of period......................... 3,509 1,803
Cash and cash equivalents, net of overdrafts at beginning of period........... 2,867 380
Cash and cash equivalents at end of period.............................. 1,706 3,509
Cash and cash equivalents, net of overdrafts at end of period............... (938) 2,867
There were certain reclassifications to conform with the current period presentation. -----------------------------------------------------------------------------------------------------------------------
[*] EBITDA - Adjusted EBITDA. Please find the calculation of the Adjusted EBITDA and other non-IFRS measures used here and hereafter in Attachment A.
**[?] Calculations of Net debt could be differ from indicators calculated in accordance with loan agreements upon dependence on definitions in such agreements. -----------------------------------------------------------------------------------------------------------------------
2021-03-11 MSK Dissemination of a Corporate News, transmitted by EquityStory.RS, LLC - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EquityStory.RS, LLC Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------
Language: English
Company: PJSC Mechel
1 Krasnoarmeyskaya Street, Moscow, Russia
127006 Moscow
Russia
Phone: +7 (495) 221-88-88
Fax: +7 (495) 221-88-00
E-mail: press@mechel.com
Internet: www.mechel.ru/
ISIN: US5838406081, RU000A0DKXV5
WKN: A2AC1G
Listed: Foreign Exchange(s) Moscow, NYSE
EQS News ID: 1174931
End of News EquityStory.RS, LLC News Service
=------------------------------------------------------------------------------------ 1174931 2021-03-11 MSK
(END) Dow Jones Newswires
March 11, 2021 06:02 ET (11:02 GMT)
