|
Navigation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ïðîèçâîäñòâåííàÿ ìîäåëü |
|
|
|
|
|
Àíàëèç äèñêîíòèðîâàííûõ
äåíåæíûõ ïîòîêîâ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Êîíåö
ôèíàíñîâîãî ãîäà |
|
|
(â òûñ. RUB, åñëè íå
óêàçàíî èíîå) |
|
|
|
|
èþí.15 |
èþí.16 |
èþí.17 |
èþí.18 |
èþí.19 |
èþí.20 |
èþí.21 |
èþí.22 |
èþí.23 |
èþí.24 |
|
|
EBITDA |
|
òûñ. RUB |
|
|
|
(38
734.6) |
(41
014.5) |
(43
483.8) |
(46
070.7) |
(48
810.1) |
(51
681.2) |
(54
783.6) |
(58
037.3) |
(61
483.0) |
(15
907.5) |
|
|
Íàëîã íà ïðèáûëü äî
âûïëàòû ïðîöåíòîâ |
òûñ. RUB |
|
|
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
×èñòîå èçì.â ðàá.êàï. è
ïðî÷èõ |
òûñ. RUB |
|
|
|
11 586.1 |
327.8 |
347.0 |
367.3 |
388.8 |
411.6 |
435.8 |
461.3 |
488.4 |
110.5 |
|
|
Êàïèòàëîâëîæåíèÿ |
|
òûñ. RUB |
|
|
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Ðåç-òû ÷ðåçâû÷-õ
îáñòîÿòåëüñòâ |
òûñ. RUB |
|
|
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Äåíåæíûé ïîòîê áåç ó÷åòà
ôèíàíñèðîâàíèÿ |
òûñ. RUB |
|
|
|
(27
148.5) |
(40
686.7) |
(43
136.9) |
(45
703.4) |
(48
421.3) |
(51
269.6) |
(54
347.9) |
(57
576.0) |
(60
994.6) |
(15
797.1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Èíâåñòèöèè |
30 èþí 14 |
òûñ. RUB |
1 000.0 |
|
Äàòà Îöåíêè |
|
01 èþë 14 |
|
|
|
|
×èñòûé äîëã íà |
30 èþí 14 |
òûñ. RUB |
(42
150.0) |
|
Äàòà Áàëàíñîâîé
îò÷åòíîñòè |
30 èþí 14 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Èíâåñòèð-íûé êàïèòàë[1] |
òûñ. RUB |
(116
150.0) |
|
Äàòà Èíâåñòèöèé[2] |
|
30 èþí 14 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(â òûñ. RUB, åñëè íå
óêàçàíî èíîå) |
Ìóëüòèïëèêàòîð
EBITDA Òåðì. Ñòîèìîñòè |
|
|
Ìóëüòèïëèêàòîð EBITDA Òåðì. Ñòîèìîñòè |
|
|
|
|
8.5x |
9.0x |
9.5x |
|
|
8.5x |
9.0x |
9.5x |
|
|
|
TV |
(135
214.1) |
(143
167.9) |
(151
121.6) |
|
|
(135
214.1) |
(143
167.9) |
(151
121.6) |
|
|
|
|
|
|
|
|
|
|
|
WACC |
Ñòîèìîñòü Êîìïàíèè íà |
01 èþë 14 |
|
WACC |
Ñòîèìîñòü Àêöèé íà |
01 èþë 14 |
|
|
|
12.0% |
(302
601.1) |
(305
162.0) |
(307
722.9) |
|
12.0% |
(343
763.9) |
(346
324.8) |
(348
885.7) |
|
|
|
12.5% |
(295
702.2) |
(298
151.5) |
(300
600.9) |
|
12.5% |
(336
865.5) |
(339
314.8) |
(341
764.2) |
|
|
|
13.0% |
(289
044.8) |
(291
387.9) |
(293
731.0) |
|
13.0% |
(330
208.6) |
(332
551.6) |
(334
894.7) |
|
|
|
|
|
|
|
|
|
|
|
WACC |
Âìåíåííàÿ íîðìà ðîñòà çà
ïðîãíîçíûì ïåðèîäîì |
|
Èíâ. êàïèòàë |
IRR íà |
Èíâåñòèð-íûé
êàïèòàë |
|
|
|
12.0% |
0.3% |
0.9% |
1.4% |
|
(104 535) |
N/A |
N/A |
N/A |
|
|
|
12.5% |
0.7% |
1.3% |
1.9% |
|
(116 150) |
N/A |
N/A |
N/A |
|
|
|
13.0% |
1.2% |
1.8% |
2.3% |
|
(127 765) |
N/A |
N/A |
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ðàñ÷åò íàëîãà íà ïðèáûëü
áåç ó÷åòà âûïëàòû ïðîöåíòîâ |
|
|
|
|
|
|
|
|
|
|
|
Êîíåö
ôèíàíñîâîãî ãîäà |
|
|
(â òûñ. RUB, åñëè íå
óêàçàíî èíîå) |
|
|
|
|
èþí.15 |
èþí.16 |
èþí.17 |
èþí.18 |
èþí.19 |
èþí.20 |
èþí.21 |
èþí.22 |
èþí.23 |
èþí.24 |
|
|
Ðàñ÷åò íàëîãîîáëàãàåìîé
ïðèáûëè |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBIT |
|
òûñ. RUB |
|
|
|
(54
734.6) |
(57
014.5) |
(59
483.8) |
(62
070.7) |
(64
810.1) |
(67
681.2) |
(70
783.6) |
(66
037.3) |
(61
483.0) |
(15
907.5) |
|
|
Ðó÷íàÿ êîððåêòèðîâêà
íàëîãà íà ïðèáûëü 1 |
òûñ. RUB |
|
|
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Ðó÷íàÿ êîððåêòèðîâêà
íàëîãà íà ïðèáûëü 2 |
òûñ. RUB |
|
|
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Ñóììàðíàÿ
íàëîãîîáëàãàåìàÿ ïðèáûëü |
òûñ. RUB |
|
|
|
(54
734.6) |
(57
014.5) |
(59
483.8) |
(62
070.7) |
(64
810.1) |
(67
681.2) |
(70
783.6) |
(66
037.3) |
(61
483.0) |
(15
907.5) |
|
|
Ñòàâêà íàëîãà íà ïðèáûëü |
òûñ. RUB |
|
|
|
20.0% |
20.0% |
20.0% |
20.0% |
20.0% |
20.0% |
20.0% |
20.0% |
20.0% |
20.0% |
|
|
Íàëîã íà ïðèáûëü -
Ôàêòè÷åñêèå ïëàòåæè |
òûñ. RUB |
|
|
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Èòîãîâûé íàëîã â Îò÷åò î
Ïðèáûëè è Óáûòêàõ |
òûñ. RUB |
|
|
|
10 946.9 |
11 402.9 |
11 896.8 |
12 414.1 |
12 962.0 |
13 536.2 |
14 156.7 |
13 207.5 |
12 296.6 |
3 181.5 |
|
|
|
|
|
|
|
|
|
|
|
Ðàñ÷åò èñïîëüçîâàíèå
óáûòêîâ ïðîøëûõ ïåðèîä |
òûñ. RUB |
|
|
|
|
|
|
|
Íàêîïëåííûé íàëîãîâûé
ùèò - ÍÏ |
òûñ. RUB |
|
|
|
200.0 |
11 146.9 |
22 549.8 |
34 446.6 |
46 860.7 |
59 822.7 |
73 359.0 |
87 515.7 |
100 723.2 |
113 019.8 |
|
|
Íàëîãîâûé ùèò Ñîçäàííûé |
òûñ. RUB |
|
|
|
10 946.9 |
11 402.9 |
11 896.8 |
12 414.1 |
12 962.0 |
13 536.2 |
14 156.7 |
13 207.5 |
12 296.6 |
3 181.5 |
|
|
Íàëîãîâûé ùèò
Èñïîëüçîâàííûé |
òûñ. RUB |
|
|
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
Íàêîïëåííûé íàëîãîâûé
ùèò - ÊÏ |
òûñ. RUB |
|
|
|
11 146.9 |
22 549.8 |
34 446.6 |
46 860.7 |
59 822.7 |
73 359.0 |
87 515.7 |
100 723.2 |
113 019.8 |
116 201.3 |
|
|
|
Äèñêîíòèðóþùèé ôàêòîð |
|
Äëÿ TV |
|
WACC |
12.0% |
|
|
|
|
94.5% |
84.4% |
75.3% |
67.3% |
60.1% |
53.6% |
47.9% |
42.7% |
38.2% |
34.1% |
32.2% |
|
WACC |
12.5% |
|
94.3% |
83.8% |
74.5% |
66.2% |
58.9% |
52.3% |
46.5% |
41.3% |
36.7% |
32.7% |
30.8% |
|
WACC |
13.0% |
|
94.1% |
83.2% |
73.7% |
65.2% |
57.7% |
51.1% |
45.2% |
40.0% |
35.4% |
31.3% |
29.5% |
|
Êîýôôèöèåíò ïðèâåäåíèÿ ê
ñðåäíåãîäîâîìó äèñêîíòèðîâàíèþ |
|
|
0.5 |
1.5 |
2.5 |
3.5 |
4.5 |
5.5 |
6.5 |
7.5 |
8.5 |
9.5 |
10.0 |
|
|
|
|
|
|
|
|
|
|
|
Ðàñ÷åò IRR |
|
|
|
|
|
|
|
|
|
|
|
|
Êîíåö
ôèíàíñîâîãî ãîäà |
|
|
(â òûñ. RUB, åñëè íå
óêàçàíî èíîå) |
|
|
|
èþí.14 |
èþí.15 |
èþí.16 |
èþí.17 |
èþí.18 |
èþí.19 |
èþí.20 |
èþí.21 |
èþí.22 |
èþí.23 |
èþí.24 |
|
|
Äåíåæíûé ïîòîê áåç ó÷åòà
ôèíàíñèðîâàíèÿ (äëÿ IRR) |
|
|
|
|
(27
148.5) |
(40
686.7) |
(43
136.9) |
(45
703.4) |
(48
421.3) |
(51
269.6) |
(54
347.9) |
(57
576.0) |
(60
994.6) |
(15
797.1) |
|
|
|
|
|
|
|
|
|
|
Ìóëüòèïëèêàòîðû
Òåðìèíàëüíîé ñòîèìîñòè |
|
IRR |
Èíâåñòèð-íûé êàïèòàë |
Äåíåæíûé
ïîòîê âêëþ÷àÿ Òåðìèíàëüíóþ ñòîèìîñòü |
|
|
8.5x |
|
|
|
#×ÈÑËÎ! |
(104
535.0) |
(27
148.5) |
(40
686.7) |
(43
136.9) |
(45
703.4) |
(48
421.3) |
(51
269.6) |
(54
347.9) |
(57
576.0) |
(60
994.6) |
(151
011.1) |
|
|
9.0x |
|
|
#×ÈÑËÎ! |
(104
535.0) |
(27
148.5) |
(40
686.7) |
(43
136.9) |
(45
703.4) |
(48
421.3) |
(51
269.6) |
(54
347.9) |
(57
576.0) |
(60
994.6) |
(158
964.9) |
|
|
9.5x |
|
|
|
#×ÈÑËÎ! |
(104
535.0) |
(27
148.5) |
(40
686.7) |
(43
136.9) |
(45
703.4) |
(48
421.3) |
(51
269.6) |
(54
347.9) |
(57
576.0) |
(60
994.6) |
(166
918.7) |
|
|
8.5x
|
|
|
|
#×ÈÑËÎ! |
(116 150.0) |
(27 148.5) |
(40 686.7) |
(43 136.9) |
(45 703.4) |
(48 421.3) |
(51 269.6) |
(54 347.9) |
(57 576.0) |
(60 994.6) |
(151 011.1) |
|
|
9.0x |
|
|
#×ÈÑËÎ! |
(116
150.0) |
(27
148.5) |
(40
686.7) |
(43
136.9) |
(45
703.4) |
(48
421.3) |
(51
269.6) |
(54
347.9) |
(57
576.0) |
(60
994.6) |
(158
964.9) |
|
|
9.5x |
|
|
|
#×ÈÑËÎ! |
(116
150.0) |
(27
148.5) |
(40
686.7) |
(43
136.9) |
(45
703.4) |
(48
421.3) |
(51
269.6) |
(54
347.9) |
(57
576.0) |
(60
994.6) |
(166
918.7) |
|
|
8.5x
|
|
|
|
#×ÈÑËÎ! |
(127 765.0) |
(27 148.5) |
(40 686.7) |
(43 136.9) |
(45 703.4) |
(48 421.3) |
(51 269.6) |
(54 347.9) |
(57 576.0) |
(60 994.6) |
(151 011.1) |
|
|
9.0x |
|
|
#×ÈÑËÎ! |
(127
765.0) |
(27
148.5) |
(40
686.7) |
(43
136.9) |
(45
703.4) |
(48
421.3) |
(51
269.6) |
(54
347.9) |
(57
576.0) |
(60
994.6) |
(158
964.9) |
|
|
9.5x |
|
|
|
#×ÈÑËÎ! |
(127
765.0) |
(27
148.5) |
(40
686.7) |
(43
136.9) |
(45
703.4) |
(48
421.3) |
(51
269.6) |
(54
347.9) |
(57
576.0) |
(60
994.6) |
(166
918.7) |
|
|
|
|
>> Êîíåö Òàáëèöû |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|