Investors

1H 2011

1H 2010

1H 2011

1H 2010

mln. USD

mln. USD

mln. RUB

mln. RUB

Revenues

1,704

1,200

48,764

36,086

Cost of Sales

(941)

(783)

(26,934)

(23,545)

Gross Margin

45%

35%

45%

35%

Gross Profit

763

417

21,830

12,541

Operating Profit

520

205

14,878

6,152

Profit for the Period

429

160

12,291

4,798

EBITDA

620

286

17,752

8,602

EBITDA Margin

36%

24%

36%

24%

Accounts Receivable

248

169

6,967

5,261

Inventory

351

247

9,861

7,716

Accounts Payable

239

303

6,725

9,461

(Inc.) Dec. in Net Working Capital

121

(98)

3,453

(2,948)

Cash and Equivalents

248

169

6,967

5,261

Total Debt

953

286

26,767

8,932

Total Assets

3,308

3,076

92,898

95,945

Total Equity

1,972

2,351

55,366

73,329

Net Debt/EBITDA*

1.1x

0.4x

0.6x

0.2x

Debt/Equity

0.5x

0.1x

0.5x

0.1x

Cash Flow from Operations

627

142

17,941

4,257