Consolidated statement of profit or loss for the year ended 31 December 2019

Millions of US Dollars
Notes 2019 2018
Revenue 6 7,547 8,296
Cost of sales 7 (4,275) (4,110)
Distribution costs 8 (1,978) (2,047)
General and administrative expenses 9 (229) (239)
Other expenses, net (3) (28)
Operating profit 1,062 1,872
Finance costs, net 10 (422) (311)
Foreign exchange gain/(loss) 200 (83)
Profit before tax 840 1,478
Income tax expense 27 (134) (314)
Net profit for the year 706 1,164
Net profit attributable to:
Ordinary shareholders of the parent 699 1,144
Non-controlling interests 7 20
Net profit for the year 706 1,164
Basic and diluted earnings per share (in US Dollars) 20 2.96 4.88

The accompanying notes on page Notes to the consolidated financial statements are an integral part of these consolidated financial statements.


Vladimir Rashevsky
Chief Executive Officer
29 January 2020

Nikolay Pilipenko
Chief Financial Officer


Consolidated statement of comprehensive income for the year ended 31 December 2019

Millions of US Dollars
Notes 2019 2018
Net profit for the year 706 1,164
Other comprehensive income
Items which may be reclassified to profit or loss in the future:
Translation difference 141 (460)
Revaluation of intra-group debt denominated in foreign currency 3.2 (1) (1)
Transfer of changes in fair value of cash flow hedges to profit or loss, net of deferred tax 16 (220) 104
Effective portion of changes in fair value of cash flow hedges, net of deferred tax 16 311 (16)
Total items which may be reclassified to profit or loss in the future 231 (373)
Items which may not be reclassified to profit or loss in the future:
Revaluation (deficit)/surplus 4 (810) 1,322
Tax effect of revaluation 4 162 (264)
Actuarial (losses)/gains (7) 10
Total items which may not be reclassified to profit or loss in the future (655) 1,068
Total other comprehensive (loss)/income for the year (424) 695
Total other comprehensive (loss)/income attributable to:
Ordinary shareholders of the parent (414) 718
Non-controlling interests (10) (23)
Total other comprehensive (loss)/income for the year (424) 695
Total comprehensive income attributable to:
Ordinary shareholders of the parent 280 1,858
Non-controlling interests 2 1
Total comprehensive income for the year 282 1,859

The accompanying notes on page Notes to the consolidated financial statements are an integral part of these consolidated financial statements.