Liquidity Analysis

RUB mln
Name Year, ended

Change, %

Year, ended 31 December 2017
31 December 2019 31 December 2018
Current assets 472,842 407,071 16.2 457,864
including:
Cash and equivalents 83,601 101,852 (17.9) 76,162
Short-term deposits and bondsShort-term deposits and bonds mainly consist of deposits and bonds issued by lending institutions and companies rated Baa3—Ba2 based on a classification aligned with Moody’s rating scale. This means that the Company’s short-term deposits and bonds are comprised of financial instruments of highly reliable or reliable lending institutions and companies. 217,426 179,069 21.4 265,306
Short-term liabilities 303,993 294,753 3.1 280,455
Net working capital 168,849 112,318 50.3 177,409
Current ratio 1.6 1.4 х 1.6
Quick ratioQuick ratio = (Cash and equivalents + Short-term financial assets + Short-term receivables) / Current liabilities. 1.1 1.1 х 1.4
Debt/EBITDA 1.3 1.4 х 1.7
Debt/equity 0.3 0.3 х 0.4

Given below is information on contractual maturity of financial liabilities, including interest payments based on the rates valid as of 31 December 2019, 31 December 2018 and 31 December 2017 respectively; the debt denominated in foreign currency is calculated at the exchange rate of the Bank of Russia as of 31 December 2019, 31 December 2018 and 31 December 2017 respectively.

As of 31 December 2019, Cash flow under signed contracts, RUB MLN
Book value Total 2020 2021 2022 2023 2024 Over
5 years
Loans and borrowings 637,352 855,045 117,247 107,098 112,133 88,747 128,340 301,480
Lease obligations 20,800 43,064 3,618 3,409 3,391 2,508 2,231 27,907
Trade and other payables 59,234 59,836 58,772 981 28 - 55 -
717,386 957,945 179,637 111,488 115,552 91,255 130,626 329,387
As of 31 December 2018, Cash flow under signed contracts, RUB MLN
Book value Total 2019 2020 2021 2022 2023 Over
5 years
Loans and borrowings 672,992 871,741 136,262 87,287 89,861 81,941 88,666 387,724
Trade and other payables 66,018 66,087 64,599 1,118 253 113 - 4
739,010 937,828 200,861 88,405 90,114 82,054 88,666 387,728
As of 31 December 2017, Cash flow under signed contracts, RUB MLN
Book value Total 2018 2019 2020 2021 2022 Over
5 years
Loans and borrowings 688,910 891,421 150,491 139,811 102,263 103,022 94,422 301,412
Trade and other payables 60,459 60,630 59,259 1,195 176 - - -
749,369 952,051 209,750 141,006 102,439 103,022 94,422 301,412