Cash generated from operations                          9,592      7,919      7,280 
Income tax paid                                         (1,304)    (1,910)    (787) 
Net cash generated from operating activities            8,288      6,009      6,493 
 
INVESTING ACTIVITIES 
Purchase of share in associates                         (14)       -          - 
Purchase of property, plant and equipment               (1,686)    (1,262)    (1,480) 
Purchase of intangible assets                           (74)       (62)       (73) 
Purchase of non-current assets                          -          -          (104) 
Loans issued                                            (3)        (3)        (7) 
Proceeds from repayment of loans issued                 36         54         13 
Net change in deposits placed                           (4)        78         5 
Proceeds from disposal of property, plant and equipment 2          10         3 
Net cash inflow/(net cash outflow) from 
disposal of subsidiaries                                28         (20)       - 
Interest and other investment income received           67         85         81 
Net cash used in investing activities                   (1,648)    (1,120)    (1,562)

Attachment C

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE YEARS ENDED 31 DECEMBER 2020, 2019 AND 2018 (CONTINUED)

US Dollars million 


                                                       For the year ended 31 December 
                                                       2020       2019       2018 
FINANCING ACTIVITIES 
Proceeds from loans and borrowings                     2,903      3,212      2,173 
Repayments of loans and borrowings                     (2,552)    (2,163)    (2,547) 
Payments of lease liabilities                          (46)       (45)       (9) 
Dividends paid                                         (4,165)    (4,166)    (3,369) 
Dividends paid to non-controlling interest             -          (1)        (1) 
Interest paid                                          (472)      (460)      (551) 
Net cash used in financing activities                  (4,332)    (3,623)    (4,304) 
 
Net increase in cash and cash equivalents              2,308      1,266      627 
Cash and cash equivalents at the beginning of the year 2,784      1,388      852 
Effects of foreign exchange differences 
on balances of cash and cash equivalents               99         130        (91) 
Cash and cash equivalents at the end of the year       5,191      2,784      1,388

Attachment D

NET WORKING CAPITAL 


USD million                             31/12/2020 31/12/2019 Change incl. effects of foreign exchange differences 
Refined metals and other metal products 547        407        140    (59) 
 
Work-in-process and semi-products       1 075      1 334      (259)  (236) 
 
Materials and supplies, net             570        734        (164)  (123) 
 
Trade and other receivables1            505        362        143    (15) 
 
Advances paid and prepaid expenses      79         74         5      (15) 
 
Taxes receivable                        451        712        (261)  (98) 
 
Employee benefit obligations            (401)      (393)      (8)    58 
 
Trade and other payables                (1 427)    (1 706)    279    116 
 
Taxes payable                           (687)      (539)      (148)  82 
 
Normalized net working capital1         712        985        (273)  (290)

1 Normalized on receivables from the registrar on transfer of dividends to shareholders

This announcement contains inside information in accordance with Article 7 of EU Regulation 596/2014 of 16 April 2014.

Full name and position of person making the announcement - Vladimir Zhukov, Vice - president, Investor Relations

ABOUT THE COMPANY

MMC Norilsk Nickel is a diversified mining and metallurgical company, the world's largest producer of palladium and high-grade nickel and a major producer of platinum and copper. The company also produces cobalt, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium, sulphur and other products.

The production units of Norilsk Nickel Group are located at the Norilsk Industrial District, on the Kola Peninsula and Zabaykalsky Krai in Russia as well as in Finland and South Africa.

MMC Norilsk Nickel shares are listed on the Moscow and on the Saint-Petersburg Stock Exchanges, ADRs are traded over the counter in the US and on the London, Berlin and Frankfurt Stock Exchanges.

Media Relations: Investor Relations:

Phone: +7 (495) 785 58 00 Phone: +7 (495) 786 83 20

Email: pr@nornik.ru Email: ir@nornik.ru ----------------------------------------------------------------------------------------------------------------------- 


ISIN:          US55315J1025 
Category Code: ACS 
TIDM:          MNOD 
LEI Code:      253400JPTEEW143W3E47 
Sequence No.:  93665 
EQS News ID:   1168681 
 
End of Announcement  EQS News Service 
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(END) Dow Jones Newswires

February 16, 2021 06:31 ET (11:31 GMT)