Financial Highlights

Financial Highlights

RUB (millions)201520142013201220112010
Sales 252,763 193,988 144,266 109,910 89,766 70,628
Gross profit 56,305 43,857 31,457 22,677 16,711 12,752
Gross margin 22.3% 22.6% 21.8% 20.6% 18.6% 18.1%
Adjusted EBITDA1 28,080 21,377 16,395 12,718 9,079 7,156
Adjusted EBITDA1 margin 11.1% 11.0% 11.4% 11.6% 10.1% 10.1%
Operating profit 22,332 17,659 13,732 10,165 6,419 4,222
Profit before income tax 12,872 10,928 9,124 6,982 2,864 3,017
Net Profit2 10,288 9,075 7,092 5,136 1,697 2,220
Net Debt3 53,466 59,180 39,831 25,341 19,825 6,955
Net Debt / Adjusted EBITDA 1.9x 2.8x 2.4x 2.0x 2.2x 1.0x
Capex 31,170 35,111 23,549 14,962 3,837 1,311

1 Adjusted EBITDA is reported EBITDA as set out in Note 6 of the IFRS financial statements adjusted for non-recurring one-off items such as changes in accounting estimates and one-off non-operating costs

2 Net Profit equates to "Profit for the year" in the IFRS Financial Statements

3 Net Debt is calculated as borrowings, obligations under finance leases and capitalized fees minus cash and cash equivalents