MOBILE TELESYSTEMS OJSC

CIK:0001115837|SEC Filings

CONSOLIDATED STATEMENTS OF PROFIT OR LOSS - RUB (₽) ₽ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
Service revenue	₽ 496,669	₽ 457,668	₽ 425,433
Sales of goods	45,080	70,253	64,398
Revenue	541,749	527,921	489,831
Cost of services	151,780	132,613	121,317
Cost of goods	41,153	67,274	59,572
Selling, general and administrative expenses	109,401	96,035	87,802
Depreciation and amortization	114,393	110,962	100,143
Share of the profit of operating associates and joint ventures	(4,596)	(5,565)	(5,048)
Impairment of non-current assets	489	(10)	2,023
Expected credit losses	26,366	13,001	11,912
Other operating income	(6,674)	(4,394)	(493)
Operating profit	109,437	118,005	112,603
Finance income	(1,774)	(2,518)	(3,437)
Finance costs	58,378	41,342	42,078
Share of the profit of non-operating associates and joint ventures	(209)	(181)	(273)
Other non-operating expenses/(income)	3,041	525	(3,097)
Profit before tax	50,001	78,837	77,332
Income tax expense	13,648	15,360	16,055
Profit for the year from continuing operations	36,353	63,477	61,277
Loss/(Profit) from discontinued operations	2,918	(792)	(796)
Profit for the year	33,435	64,269	62,073
Profit for the year attributable to:
Owners of the Company	32,574	63,473	61,412
Non-controlling interests	₽ 861	₽ 796	₽ 661
Earnings per share from continuing operations (basic), Russian Rubles:	₽ 21.13	₽ 37.02	₽ 34.43
Earnings per share from continued operations (diluted), Russian Rubles:	20.81	36.83	34.41
Earnings per share from discontinued operations (basic), Russian Rubles:	(1.74)	0.47	0.45
Earnings per share from discontinued operations (diluted), Russian Rubles:	(1.71)	0.47	0.45
Earnings per share (basic), Russian Rubles:	19.39	37.49	34.88
Earnings per share (diluted), Russian Rubles:	₽ 19.10	₽ 37.30	₽ 34.86

CONSOLIDATED STATEMENTS OF CASH FLOWS - RUB (₽) ₽ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Profit for the year	₽ 33,435	₽ 64,269	₽ 62,073
Adjustments for:
Depreciation and amortization	114,491	111,088	100,205
Impairment of non-current assets	489	(10)	2,023
Expected credit loss	26,359	12,983	11,936
Loss/(gain) from sale of Czech/Ukraine operations	1,367	54	(2,101)
Finance income	(1,774)	(2,518)	(3,439)
Finance costs	58,393	41,352	42,085
Income tax expense	13,616	15,403	17,191
Share of profit of associates and joint ventures	(4,805)	(5,746)	(5,321)
Net foreign exchange loss/ (gain) and change in fair value of financial instruments	4,371	186	(4,330)
Inventory obsolescence expense	2,920	1,456	891
Change in provisions	6,468	3,620	1,492
Other non-cash items	(1,405)	(4,360)	(4,393)
Movements in operating assets and liabilities:
(Increase)/Decrease in trade and other receivables and contract assets	(1,528)	(2,608)	1,904
Increase in bank deposits and loans to customers	(57,027)	(101,897)	(33,570)
Decrease / (Increase) in inventory	810	(5,206)	(630)
Increase in advances paid and prepaid expenses	(4,009)	(2,526)	(6,507)
Decrease / (Increase) in VAT receivable	876	(2,821)	482
Increase / (Decrease) in trade and other payables, contract liabilities and other current liabilities	7,036	16,544	(1,104)
Increase in bank deposits and liabilities	50,464	53,765	27,172
Dividends received	4,614	4,794	3,676
Income tax paid	(11,255)	(17,494)	(15,193)
Interest received	1,914	3,150	2,727
Interest paid, net of interest capitalized	(55,227)	(40,632)	(41,762)
NET CASH PROVIDED BY OPERATING ACTIVITIES	190,592	142,846	155,507
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of subsidiaries, net of cash acquired	(13,948)	(10,186)	(262)
Purchases of property, plant and equipment (including capitalized interest in the amount of RUB 841 million, RUB 533 million and RUB 550 million, respectively)	(70,624)	(73,081)	(66,256)
Purchases of other intangible assets	(41,957)	(38,602)	(31,153)
Cost to obtain and fulfill contracts, paid	(4,358)	(4,218)	(5,442)
Proceeds from sale of property, plant and equipment and assets held for sale	5,938	5,082	6,678
Purchases of short-term and other investments	(2,567)	(13,765)	(10,054)
Proceeds from sale of short-term and other investments	10,602	13,085	16,012
Investments in associates and joint ventures	(1,587)	(1,087)	(1,460)
Cash (payments) and proceeds related to swap contracts	(242)	(657)	5,322
Proceeds from sale of subsidiaries, net of cash disposed	(149)	3,891	3,461
Proceeds from sale/liquidation of associates		3,014	2,450
Other investing activities	654	92
NET CASH USED IN INVESTING ACTIVITIES	(118,238)	(116,432)	(81,133)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of notes	(56,767)	(20,813)	(28,167)
Proceeds from issuance of notes	63,970	4,350	46,757
Notes and debt issuance cost paid	(263)	(96)	(107)
Lease obligation principal paid	(16,443)	(16,516)	(15,054)
Dividends paid	(40,959)	(61,955)	(74,923)
Acquisition of entities under common control, net of cash acquired		(3,474)
Proceeds from loans	80,152	64,311	194,645
Repayment of loans	(62,412)	(15,538)	(134,483)
Repurchase of common stock		(21,483)	(16,028)
Other financing activities	(1,900)
NET CASH USED IN FINANCING ACTIVITIES	(34,622)	(71,214)	(27,360)
Effect of exchange rate changes on cash and cash equivalents	(30)	(79)	385
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS	37,702	(44,879)	47,399
CASH AND CASH EQUIVALENTS, beginning of the year	40,590	85,405	38,070
CASH AND CASH EQUIVALENTS, end of the year	78,292	40,590	85,469
Less cash and cash equivalents within held for sale			(64)
CASH AND CASH EQUIVALENTS, end of the year	₽ 78,292	₽ 40,590	85,405
Avantage
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of Avantage			₽ (429)

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - RUB (₽) ₽ in Millions	Dec. 31, 2022	Dec. 31, 2021
NON-CURRENT ASSETS:
Property, plant and equipment	₽ 312,509	₽ 311,250
Investment property	4,925	2,498
Right-of-use assets	120,192	132,343
Goodwill	55,694	42,819
Other intangible assets	109,549	100,132
Investments in associates and joint ventures	9,752	8,735
Other investments	7,539	4,591
Deferred tax assets	11,610	11,683
Accounts receivable, related parties	1,767	5,000
Trade accounts receivable	882	1,898
Bank deposits and loans to customers	138,199	118,342
Other financial assets	5,383	7,437
Other assets	4,046	5,790
Total non-current assets	782,047	752,518
CURRENT ASSETS:
Inventories	14,199	18,981
Trade and other receivables	37,176	37,897
Accounts receivable, related parties	2,643	2,287
Bank deposits and loans to customers	96,135	87,594
Short-term investments	24,422	28,972
Advances paid and prepaid expenses	8,160	3,452
VAT receivable	10,867	11,746
Income tax assets	785	2,021
Assets held for sale	273	549
Cash and cash equivalents	78,292	40,590
Other financial assets	24,015	27,349
Other assets	3,916	1,862
Total current assets	300,883	263,300
TOTAL ASSETS	1,082,930	1,015,818
EQUITY:
Common stock	200	200
Treasury stock	(92,307)	(96,195)
Additional paid-in capital	895	619
Retained earnings	69,742	94,935
Accumulated other comprehensive income	12,103	10,207
Equity attributable to owners of the Company	(9,367)	9,766
Non-controlling interests	5,750	4,838
Total equity	(3,617)	14,604
NON-CURRENT LIABILITIES:
Borrowings	368,393	350,300
Lease obligations	123,894	135,800
Bank deposits and liabilities	12,397	14,313
Deferred tax liabilities	17,759	17,901
Provisions	7,288	7,288
Contract liabilities	1,124	977
Other financial liabilities	3,464	180
Other liabilities	883	1,035
Total non-current liabilities	535,202	527,794
CURRENT LIABILITIES:
Trade and other payables	67,166	72,078
Accounts payable, related parties	1,451	4,107
Contract liabilities	26,082	22,621
Borrowings	117,747	111,839
Lease obligations	19,608	18,709
Bank deposits and liabilities	260,744	207,055
Income tax liabilities	3,150	768
Provisions	23,757	17,479
Other financial liabilities	2,985	202
Other liabilities	28,655	18,562
Total current liabilities	551,345	473,420
TOTAL EQUITY AND LIABILITIES	₽ 1,082,930	₽ 1,015,818