KEY FIGURES

Income Statement Highlights (Rbls in thousands)

 

	2006	2007	2008
Sales	14 985 390	15 526 501	9 973 406
y-o-y change, %	213%	4%	-36%
Gross profit	4 859 195	3 862 346	-1 777 663
Margin, %	32%	25%	N/A
EBITDA	4 784 571	3 680 078	10 237
Margin, %	32%	24%	-
Net Income/Loss	2 871 737	1 913 566	-3 522 601
Margin, %	19%	12%	N/A

 

Reconciliation of EBITDA to net income is as follows for the periods indicated:

 

	2006	2007	2008
Profit/(loss) for the year	2 871 737	1 913 566	-3 522 601
Add:
Depreciation and amortisation	792 134	1 016 077	1 086 428
Finance income and costs, net	244 456	121 226	62 747
Foreign currency exchange loss (gain), net	-137 927	-85 547	315 470
Income tax credit/expense	1 014 171	714 756	-989 609
Goodwill impairment	0	0	778 667
Exploration and evaluation costs	0	0	305 693
Impairment of property, plant and equipment	0	0	1 973 442
EBITDA	4 784 571	3 680 078	10 237

 

Source: 2006-2008 CZP's audited IFRS financial statements

 

2008 net earnings have been affected by decrease of LME zinc prices, RUB 306 million exploration and evaluation assets written off based on the results of the evaluation of the reserves for the Amur deposit, RUB 1,973 impairment loss related to mining assets in Kazakhstan as a result of a review of the carrying values and estimated recoverable amounts of property, plant and equipment and non-cash accounting adjustment of RUB 779 million for goodwill.

 

Balance Sheet and Cash Flow Hightlights

 

	2006	2007	2008
Balance Sheet
Total Assets	14 164 580	14 657 992	10 421 224
Total Debt	3 470 271	2 602 389	2 210 669
Net Debt	1 534 341	1 664 171	1 371 468
Shareholders' Equity	8 367 776	10 173 254	7 113 102
Cash Flow Statement
Net cash from operationg activities	1 368 253	1 870 722	1 992 991
Net cash from/(used in) investing activities	-5 671 281td>	-1 079 657	-1 061 793
Net cash from/(used in) financing activities	4 626 207	-712 070	-852 258

Source: 2006-2008 CZP's audited IFRS financial statements.