Spotify(NYSE:SPOT) 
Spotify Technology S.A., together with its subsidiaries, provides audio streaming services worldwide. It operates in two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its ...
Website: http://www.spotify.com
Founded: 2006
Full Time Employees: 9,400 (Jan 2023)
Founder: Daniel Ek, Martin Lorentzon
CEO: Daniel Ek
Sector: Communication Services
Industry: Internet Content & Information
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At a glance:
- Subscriber and MAU Growth Remain Core Drivers: Spotify’s performance continues to be anchored by growth in Premium subscribers and ad-supported monthly active users, supporting scale advantages and strengthening its position in global audio streaming.
- Improving Profitability Through Cost Discipline: Management focus on operating efficiency—headcount rationalization, tighter marketing spend, and better cost control—has supported margin expansion and improved operating leverage as revenue scales.
- Monetization Expansion: Pricing, Ads, and Bundling: Spotify is pursuing ARPU uplift via selective price increases, product tiering, and potential bundles, while also working to deepen advertising monetization through improved targeting, measurement, and podcast inventory.
- Podcast and Audiobook Investments Aim to Broaden Engagement: Strategic investment in podcasts and audiobooks is designed to increase user engagement and differentiate the platform, though content and licensing costs must be balanced against profitability targets.
- Key Risks: Royalties, Competition, and Ad Cyclicality: Spotify remains exposed to music royalty structures, competitive pressure from major platforms, and fluctuations in advertising demand, all of which can impact margins and growth rates.
Bull Thesis:
- Strong User Growth and Market Dominance: Spotify continues to demonstrate robust growth in both Monthly Active Users (MAU) and Premium Subscribers, solidifying its position as the global leader in audio streaming. This large, engaged user base creates a powerful network effect, attracting more content creators and listeners, and provides a strong foundation for future monetization efforts.
- Successful Diversification into Podcasts and Audiobooks: Spotify's strategic investments in podcasts and, more recently, audiobooks are paying off. These new content verticals increase user engagement, reduce reliance on music labels, and offer higher-margin revenue opportunities through exclusive content, advertising, and direct sales, expanding Spotify's total addressable market.
- Improving Advertising Monetization and ARPU Growth: The company is making significant strides in its advertising business, leveraging its vast user data and advanced ad-tech to deliver more targeted and effective campaigns. Coupled with recent subscription price increases across key markets, Spotify is demonstrating an ability to grow Average Revenue Per User (ARPU) and diversify its revenue streams, improving overall profitability.
- Clear Path to Sustainable Profitability and Operating Leverage: As Spotify's user base scales, the company is beginning to show signs of operating leverage. Investments in R&D and G&A are spread across a larger revenue base, and improved negotiation power with content providers, alongside higher-margin ad and podcast revenues, are paving the way for consistent positive free cash flow and net income.
Bear Thesis:
- Persistent High Content Costs and Thin Margins: Spotify's core music streaming business remains burdened by high royalty payments to record labels and publishers, which consume a significant portion of revenue. This structural challenge limits gross margins and makes it difficult to achieve substantial profitability, despite the company's scale.
- Intense Competition Across the Audio Landscape: Spotify faces formidable competition from tech giants like Apple Music, Amazon Music, and YouTube Music, all of whom have deep pockets and integrated ecosystems. New entrants and niche platforms also vie for listener attention and content, potentially limiting Spotify's pricing power and subscriber growth.
- Continued Struggle for Consistent Profitability and Free Cash Flow: Despite years of massive revenue growth and market leadership, Spotify has struggled to consistently generate significant net profits or positive free cash flow. Investors may grow impatient if the company cannot demonstrate a clear and accelerated path to sustainable, robust profitability, raising questions about its long-term financial viability.
- Growing Pressure on Artist Compensation and Industry Pushback: Spotify faces ongoing scrutiny and pressure from artists, musicians, and industry bodies regarding its royalty payment structure. This could lead to increased regulatory intervention, higher content costs, or a push by artists towards alternative platforms, potentially impacting Spotify's content library or public perception.
Main Competitors:
- Apple Inc. ($AAPL) (Apple Music), Competes directly with Spotify for music streaming subscribers. Leverages Apple's vast ecosystem (iPhone, iPad, Mac, Apple Watch, HomePod) for seamless integration and user acquisition. Offers a large music catalog, curated playlists, exclusive content, and lossless audio.
- Amazon.com, Inc. ($AMZN) (Amazon Music (Unlimited/Prime Music)), Competes by offering music streaming services, often bundled with Amazon Prime, making it attractive to existing Prime subscribers. Strong integration with Amazon's Alexa-enabled devices (Echo speakers) and a focus on smart home audio. Offers a large catalog, HD/Ultra HD audio, and podcasts.
- Alphabet Inc. ($GOOGL) (YouTube Music), Competes by leveraging YouTube's massive library of music videos, live performances, and user-generated content, offering a unique visual and audio experience. Provides a robust free ad-supported tier and a premium subscription for ad-free listening, downloads, and background playback.
- Block, Inc. (majority owner) ($SQ) (Tidal), Competes by focusing on high-fidelity audio quality (HiFi and Master Quality Authenticated - MQA), appealing to audiophiles. Emphasizes artist-centric payouts and exclusive content, positioning itself as a premium, artist-friendly alternative to mainstream services.
- Sirius XM Holdings Inc. ($SIRI) (Pandora), Competes primarily through its personalized radio-style streaming service, offering algorithmic station generation based on user preferences. While it has on-demand features, its core strength lies in discovery and lean-back listening, complementing SiriusXM's satellite radio offerings.
Moat:
Spotify's main competitors are well-established tech giants (Apple, Amazon, Google) who leverage their vast ecosystems, hardware integration, and existing customer bases to offer competing music streaming services. Niche players like Tidal differentiate through audio quality and artist focus, while Pandora (SiriusXM) focuses on personalized radio. Spotify's moat lies in its strong brand recognition, extensive podcast catalog, superior personalization algorithms, and freemium model, which acts as a powerful user acquisition funnel. The competition is intense, primarily around content licensing, user experience, and ecosystem integration.
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-04-27 | 2022-03-31 | 2022-02-02 | 2021-12-31 | 2021-10-27 | 2021-09-30 | 2021-07-28 | 2021-06-30 | 2021-04-28 | 2021-03-31 | 2021-02-03 | 2020-12-31 | 2020-10-29 | 2020-09-30 | 2020-07-29 | 2020-06-30 | 2020-04-29 | 2020-03-31 | 2020-02-05 | 2019-12-31 | 2019-10-28 | 2019-09-30 | 2019-07-31 | 2019-06-30 | 2019-04-29 | 2019-03-31 | 2019-02-06 | 2018-12-31 | 2018-11-01 | 2018-09-30 | 2018-07-26 | 2018-06-30 | 2018-05-03 | 2018-05-02 | 2018-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 4,272,000,000 | 4,193,000,000 | 4,190,000,000 | 4,242,000,000 | 3,988,000,000 | 3,807,000,000 | 3,636,000,000 | 3,671,000,000 | 3,357,000,000 | 3,177,000,000 | 3,042,000,000 | 3,166,000,000 | 3,036,000,000 | 2,864,000,000 | 2,661,000,000 | 2,661,000,000 | 2,689,000,000 | 2,689,000,000 | 2,501,000,000 | 2,501,000,000 | 2,331,000,000 | 2,331,000,000 | 2,147,000,000 | 2,147,000,000 | 2,168,000,000 | 2,168,000,000 | 1,975,000,000 | 1,975,000,000 | 1,889,000,000 | 1,889,000,000 | 1,848,000,000 | 1,848,000,000 | 1,855,000,000 | 1,855,000,000 | 1,731,000,000 | 1,731,000,000 | 1,667,000,000 | 1,667,000,000 | 1,511,000,000 | 1,511,000,000 | 1,495,000,000 | 1,495,000,000 | 1,352,000,000 | 1,352,000,000 | 1,273,000,000 | 1,273,000,000 | 1,139,000,000 | 1,139,000,000 | 1,139,000,000 |
yoy | 7.12% | 10.14% | 15.24% | 15.55% | 18.80% | 19.83% | 19.53% | 15.95% | 10.57% | 10.93% | 14.32% | 18.98% | 12.90% | 6.51% | 6.40% | 6.40% | 15.36% | 15.36% | 16.49% | 16.49% | 7.52% | 7.52% | 8.71% | 8.71% | 14.77% | 14.77% | 6.87% | 6.87% | 1.83% | 1.83% | 6.76% | 6.76% | 11.28% | 11.28% | 14.56% | 14.56% | 11.51% | 11.51% | 11.76% | 11.76% | 17.44% | 17.44% | 18.70% | 18.70% | 11.76% | ||||
qoq | 1.88% | 0.07% | -1.23% | 6.37% | 4.75% | 4.70% | -0.95% | 9.35% | 5.67% | 4.44% | -3.92% | 4.28% | 6.01% | 7.63% | 0.00% | -1.04% | 0.00% | 7.52% | 0.00% | 7.29% | 0.00% | 8.57% | 0.00% | -0.97% | 0.00% | 9.77% | 0.00% | 4.55% | 0.00% | 2.22% | 0.00% | -0.38% | 0.00% | 7.16% | 0.00% | 3.84% | 0.00% | 10.32% | 0.00% | 1.07% | 0.00% | 10.58% | 0.00% | 6.21% | 0.00% | 11.76% | 0.00% | 0.00% | |
cost of revenue | 2,921,000,000 | 2,873,000,000 | 2,864,000,000 | 2,874,000,000 | 2,748,000,000 | 2,695,000,000 | 2,632,000,000 | 2,691,000,000 | 2,472,000,000 | 2,411,000,000 | 2,276,000,000 | 2,365,000,000 | 2,286,000,000 | 2,160,000,000 | 1,990,000,000 | 1,990,000,000 | 1,977,000,000 | 1,977,000,000 | 1,833,000,000 | 1,833,000,000 | 1,668,000,000 | 1,668,000,000 | 1,599,000,000 | 1,599,000,000 | 1,593,000,000 | 1,593,000,000 | 1,486,000,000 | 1,486,000,000 | 1,410,000,000 | 1,410,000,000 | 1,376,000,000 | 1,376,000,000 | 1,381,000,000 | 1,381,000,000 | 1,290,000,000 | 1,290,000,000 | 1,233,000,000 | 1,233,000,000 | 1,138,000,000 | 1,138,000,000 | 1,096,000,000 | 1,096,000,000 | 1,010,000,000 | 1,010,000,000 | 944,000,000 | 944,000,000 | 856,000,000 | 856,000,000 | 856,000,000 |
gross profit | 1,351,000,000 | 1,320,000,000 | 1,326,000,000 | 1,368,000,000 | 1,240,000,000 | 1,112,000,000 | 1,004,000,000 | 980,000,000 | 885,000,000 | 766,000,000 | 766,000,000 | 801,000,000 | 750,000,000 | 704,000,000 | 671,000,000 | 671,000,000 | 712,000,000 | 712,000,000 | 668,000,000 | 668,000,000 | 663,000,000 | 663,000,000 | 548,000,000 | 548,000,000 | 575,000,000 | 575,000,000 | 489,000,000 | 489,000,000 | 479,000,000 | 479,000,000 | 472,000,000 | 472,000,000 | 474,000,000 | 474,000,000 | 441,000,000 | 441,000,000 | 434,000,000 | 434,000,000 | 373,000,000 | 373,000,000 | 399,000,000 | 399,000,000 | 342,000,000 | 342,000,000 | 329,000,000 | 329,000,000 | 283,000,000 | 283,000,000 | 283,000,000 |
yoy | 8.95% | 18.71% | 32.07% | 39.59% | 40.11% | 45.17% | 31.07% | 22.35% | 18.00% | 8.81% | 14.16% | 19.37% | 5.34% | -1.12% | 0.45% | 0.45% | 7.39% | 7.39% | 21.90% | 21.90% | 15.30% | 15.30% | 12.07% | 12.07% | 20.04% | 20.04% | 3.60% | 3.60% | 1.05% | 1.05% | 7.03% | 7.03% | 9.22% | 9.22% | 18.23% | 18.23% | 8.77% | 8.77% | 9.06% | 9.06% | 21.28% | 21.28% | 20.85% | 20.85% | 16.25% | ||||
qoq | 2.35% | -0.45% | -3.07% | 10.32% | 11.51% | 10.76% | 2.45% | 10.73% | 15.54% | 0.00% | -4.37% | 6.80% | 6.53% | 4.92% | 0.00% | -5.76% | 0.00% | 6.59% | 0.00% | 0.75% | 0.00% | 20.99% | 0.00% | -4.70% | 0.00% | 17.59% | 0.00% | 2.09% | 0.00% | 1.48% | 0.00% | -0.42% | 0.00% | 7.48% | 0.00% | 1.61% | 0.00% | 16.35% | 0.00% | -6.52% | 0.00% | 16.67% | 0.00% | 3.95% | 0.00% | 16.25% | 0.00% | 0.00% | |
gross margin % | 31.62% | 31.48% | 31.65% | 32.25% | 31.09% | 29.21% | 27.61% | 26.70% | 26.36% | 24.11% | 25.18% | 25.30% | 24.70% | 24.58% | 25.22% | 25.22% | 26.48% | 26.48% | 26.71% | 26.71% | 28.44% | 28.44% | 25.52% | 25.52% | 26.52% | 26.52% | 24.76% | 24.76% | 25.36% | 25.36% | 25.54% | 25.54% | 25.55% | 25.55% | 25.48% | 25.48% | 26.03% | 26.03% | 24.69% | 24.69% | 26.69% | 26.69% | 25.30% | 25.30% | 25.84% | 25.84% | 24.85% | 24.85% | 24.85% |
research and development | 309,000,000 | 415,000,000 | 379,000,000 | 376,000,000 | 342,000,000 | 379,000,000 | 389,000,000 | 468,000,000 | 369,000,000 | 453,000,000 | 435,000,000 | 415,000,000 | 386,000,000 | 336,000,000 | 250,000,000 | 250,000,000 | 253,000,000 | 253,000,000 | 208,000,000 | 208,000,000 | 255,000,000 | 255,000,000 | 196,000,000 | 196,000,000 | 232,000,000 | 232,000,000 | 176,000,000 | 176,000,000 | 267,000,000 | 267,000,000 | 162,000,000 | 162,000,000 | 173,000,000 | 173,000,000 | 136,000,000 | 136,000,000 | 151,000,000 | 151,000,000 | 155,000,000 | 155,000,000 | 100,000,000 | 100,000,000 | 135,000,000 | 135,000,000 | 143,000,000 | 143,000,000 | 115,000,000 | 115,000,000 | 115,000,000 |
sales and marketing | 349,000,000 | 364,000,000 | 314,000,000 | 393,000,000 | 332,000,000 | 343,000,000 | 324,000,000 | 432,000,000 | 355,000,000 | 399,000,000 | 347,000,000 | 453,000,000 | 432,000,000 | 391,000,000 | 296,000,000 | 296,000,000 | 340,000,000 | 340,000,000 | 280,000,000 | 280,000,000 | 279,000,000 | 279,000,000 | 236,000,000 | 236,000,000 | 294,000,000 | 294,000,000 | 256,000,000 | 256,000,000 | 248,000,000 | 248,000,000 | 231,000,000 | 231,000,000 | 276,000,000 | 276,000,000 | 178,000,000 | 178,000,000 | 200,000,000 | 200,000,000 | 172,000,000 | 172,000,000 | 163,000,000 | 163,000,000 | 146,000,000 | 146,000,000 | 173,000,000 | 173,000,000 | 138,000,000 | 138,000,000 | 138,000,000 |
general and administrative | 111,000,000 | 135,000,000 | 124,000,000 | 122,000,000 | 112,000,000 | 124,000,000 | 123,000,000 | 155,000,000 | 129,000,000 | 161,000,000 | 140,000,000 | 164,000,000 | 160,000,000 | 171,000,000 | 131,000,000 | 131,000,000 | 126,000,000 | 126,000,000 | 105,000,000 | 105,000,000 | 117,000,000 | 117,000,000 | 102,000,000 | 102,000,000 | 118,000,000 | 118,000,000 | 97,000,000 | 97,000,000 | 131,000,000 | 131,000,000 | 96,000,000 | 96,000,000 | 102,000,000 | 102,000,000 | 73,000,000 | 73,000,000 | 86,000,000 | 86,000,000 | 93,000,000 | 93,000,000 | 42,000,000 | 42,000,000 | 67,000,000 | 67,000,000 | 103,000,000 | 103,000,000 | 71,000,000 | 71,000,000 | 71,000,000 |
operating income | 582,000,000 | 406,000,000 | 509,000,000 | 477,000,000 | 454,000,000 | 266,000,000 | 168,000,000 | -75,000,000 | 32,000,000 | -247,000,000 | -156,000,000 | -231,000,000 | -228,000,000 | -194,000,000 | -6,000,000 | -7,000,000 | -7,000,000 | 75,000,000 | 75,000,000 | 12,000,000 | 12,000,000 | 14,000,000 | 14,000,000 | -69,000,000 | -69,000,000 | -40,000,000 | -40,000,000 | -167,000,000 | -167,000,000 | -17,000,000 | -17,000,000 | -77,000,000 | -77,000,000 | 54,000,000 | 54,000,000 | -3,000,000 | -3,000,000 | -47,000,000 | -47,000,000 | 94,000,000 | 94,000,000 | -6,000,000 | -6,000,000 | -90,000,000 | -90,000,000 | -41,000,000 | -41,000,000 | -41,000,000 | |
yoy | 28.19% | 52.63% | 202.98% | -736.00% | 1318.75% | -207.69% | -207.69% | -67.53% | -114.04% | 27.32% | 2500.00% | 3157.14% | 2671.43% | -108.00% | -158.33% | -158.33% | 435.71% | 435.71% | -117.39% | -117.39% | -135.00% | -135.00% | -58.68% | -58.68% | 135.29% | 135.29% | 116.88% | 116.88% | -131.48% | -131.48% | 2466.67% | 2466.67% | -214.89% | -214.89% | -103.19% | -103.19% | 683.33% | 683.33% | -204.44% | -204.44% | -85.37% | -85.37% | 119.51% | ||||||
qoq | 43.35% | -20.24% | 6.71% | 5.07% | 70.68% | 58.33% | -324.00% | -334.38% | -112.96% | 58.33% | -32.47% | 1.32% | 17.53% | 3133.33% | 0.00% | -109.33% | 0.00% | 525.00% | 0.00% | -14.29% | 0.00% | -120.29% | 0.00% | 72.50% | 0.00% | -76.05% | 0.00% | 882.35% | 0.00% | -77.92% | 0.00% | -242.59% | 0.00% | -1900.00% | 0.00% | -93.62% | 0.00% | -150.00% | 0.00% | -1666.67% | 0.00% | -93.33% | 0.00% | 119.51% | 0.00% | 0.00% | |||
operating margin % | 13.62% | 9.68% | 12.15% | 11.24% | 11.38% | 6.99% | 4.62% | -2.04% | 0.95% | -7.77% | -5.13% | -7.30% | -7.51% | -6.77% | -0.23% | 0% | -0.26% | -0.26% | 3.00% | 3.00% | 0.51% | 0.51% | 0.65% | 0.65% | -3.18% | -3.18% | -2.03% | -2.03% | -8.84% | -8.84% | -0.92% | -0.92% | -4.15% | -4.15% | 3.12% | 3.12% | -0.18% | -0.18% | -3.11% | -3.11% | 6.29% | 6.29% | -0.44% | -0.44% | -7.07% | -7.07% | -3.60% | -3.60% | -3.60% |
finance income | 262,000,000 | 89,000,000 | 71,000,000 | 127,000,000 | 66,000,000 | 76,000,000 | 59,000,000 | 46,000,000 | 55,000,000 | 33,000,000 | 27,000,000 | 26,000,000 | 102,000,000 | 118,000,000 | 175,000,000 | 175,000,000 | 20,000,000 | 20,000,000 | 101,000,000 | 101,000,000 | 21,000,000 | 21,000,000 | 104,000,000 | 104,000,000 | 4,000,000 | 4,000,000 | 14,000,000 | 14,000,000 | 6,000,000 | 6,000,000 | 70,000,000 | 70,000,000 | 7,000,000 | 7,000,000 | 226,000,000 | 226,000,000 | 8,000,000 | 8,000,000 | 34,000,000 | 34,000,000 | 389,000,000 | 389,000,000 | 10,000,000 | 10,000,000 | 41,000,000 | 41,000,000 | 15,000,000 | 15,000,000 | 15,000,000 |
finance costs | -17,000,000 | -447,000,000 | -252,000,000 | -105,000,000 | -122,000,000 | -72,000,000 | -53,000,000 | -102,000,000 | -14,000,000 | -27,000,000 | -77,000,000 | -86,000,000 | -18,000,000 | -14,000,000 | -14,000,000 | -14,000,000 | -21,000,000 | -21,000,000 | -14,000,000 | -14,000,000 | -25,000,000 | -25,000,000 | -31,000,000 | -31,000,000 | -114,000,000 | -114,000,000 | -90,000,000 | -90,000,000 | -294,000,000 | -294,000,000 | -12,000,000 | -12,000,000 | -103,000,000 | -103,000,000 | -10,000,000 | -10,000,000 | -64,000,000 | -64,000,000 | -156,000,000 | -156,000,000 | -2,000,000 | -2,000,000 | -85,000,000 | -85,000,000 | -343,000,000 | -343,000,000 | -154,000,000 | -154,000,000 | -154,000,000 |
finance income/(cost) - net | 245,000,000 | 4,000,000 | 6,000,000 | 41,000,000 | 6,000,000 | -50,000,000 | -60,000,000 | 84,000,000 | 104,000,000 | 161,000,000 | 161,000,000 | -1,000,000 | 87,000,000 | -4,000,000 | 73,000,000 | 73,000,000 | -110,000,000 | -110,000,000 | -76,000,000 | -76,000,000 | -288,000,000 | -288,000,000 | 58,000,000 | 58,000,000 | -96,000,000 | -96,000,000 | 216,000,000 | 216,000,000 | -56,000,000 | -56,000,000 | -122,000,000 | -122,000,000 | 387,000,000 | 387,000,000 | -76,000,000 | -76,000,000 | -302,000,000 | -302,000,000 | -139,000,000 | -139,000,000 | -139,000,000 | ||||||||
income before tax | 827,000,000 | 48,000,000 | 328,000,000 | 499,000,000 | 398,000,000 | 270,000,000 | 174,000,000 | -131,000,000 | 73,000,000 | -241,000,000 | -206,000,000 | -291,000,000 | -144,000,000 | -90,000,000 | 155,000,000 | 155,000,000 | -8,000,000 | -8,000,000 | 162,000,000 | 162,000,000 | 8,000,000 | 8,000,000 | 87,000,000 | 87,000,000 | -132,500,000 | -116,000,000 | -116,000,000 | -455,000,000 | 41,000,000 | 41,000,000 | -173,000,000 | 10,500,000 | 270,000,000 | 270,000,000 | -59,000,000 | -169,000,000 | -82,000,000 | -392,000,000 | -180,000,000 | ||||||||||
income tax expense | -72,000,000 | 134,000,000 | 103,000,000 | 132,000,000 | 98,000,000 | -23,000,000 | -61,000,000 | 8,000,000 | 61,000,000 | 19,000,000 | -21,000,000 | 22,000,000 | 35,000,000 | 24,000,000 | 24,000,000 | 31,000,000 | 31,000,000 | 160,000,000 | 160,000,000 | 28,000,000 | 28,000,000 | 64,000,000 | 64,000,000 | -54,000,000 | -54,000,000 | -15,000,000 | -15,000,000 | -99,000,000 | -99,000,000 | 40,000,000 | 40,000,000 | 36,000,000 | 36,000,000 | 29,000,000 | 29,000,000 | 17,000,000 | 17,000,000 | -27,000,000 | -27,000,000 | 39,000,000 | 39,000,000 | -125,000,000 | -125,000,000 | 2,000,000 | 2,000,000 | -11,000,000 | -11,000,000 | ||
net income | 899,000,000 | -86,000,000 | 225,000,000 | 367,000,000 | 300,000,000 | 274,000,000 | 197,000,000 | -115,500,000 | 65,000,000 | -302,000,000 | -225,000,000 | -40,000,000 | -166,000,000 | -125,000,000 | 131,000,000 | 131,000,000 | -39,000,000 | 1,250,000 | 2,000,000 | 2,000,000 | -20,000,000 | -20,000,000 | 23,000,000 | 23,000,000 | -114,000,000 | -101,000,000 | -101,000,000 | -356,000,000 | 1,000,000 | 1,000,000 | -209,000,000 | 5,750,000 | 241,000,000 | 241,000,000 | -76,000,000 | -142,000,000 | -142,000,000 | 442,000,000 | -130,000,000 | 43,000,000 | 43,000,000 | -394,000,000 | -169,000,000 | ||||||
yoy | 199.67% | -131.39% | 14.21% | -417.75% | 361.54% | -190.73% | -187.56% | 188.75% | -139.16% | 141.60% | -271.76% | -130.53% | 325.64% | -10100.00% | 6450.00% | 6450.00% | 95.00% | -106.25% | -91.30% | -91.30% | -82.46% | -122.77% | -122.77% | -67.98% | -10200.00% | -10200.00% | -6291.30% | -99.59% | -99.59% | -107.57% | -269.72% | -269.72% | -41.54% | -430.23% | -430.23% | -67.01% | |||||||||||||
qoq | -1145.35% | -138.22% | -38.69% | 22.33% | 9.49% | 39.09% | -270.56% | -277.69% | -121.52% | 34.22% | 462.50% | -75.90% | 32.80% | -195.42% | 0.00% | -435.90% | -3220.00% | -37.50% | 0.00% | -110.00% | 0.00% | -186.96% | 0.00% | 12.87% | 0.00% | -35700.00% | 0.00% | -100.48% | -3734.78% | -97.61% | 0.00% | -46.48% | 0.00% | -132.13% | -440.00% | -402.33% | 0.00% | ||||||||||||
net income margin % | 21.04% | -2.05% | 5.37% | 8.65% | 7.52% | 7.20% | 5.42% | -3.15% | 1.94% | -9.51% | -7.40% | -1.26% | -5.47% | -4.36% | 4.92% | 4.92% | -1.45% | 0.05% | 0.08% | 0.08% | -0.86% | -0.86% | 1.07% | 1.07% | 0% | -5.26% | -5.11% | -5.11% | 0% | -18.85% | 0.05% | 0.05% | -11.27% | 0.31% | 13.92% | 13.92% | 0% | -4.56% | -9.40% | -9.40% | 29.57% | -8.70% | 3.18% | 3.18% | 0% | -30.95% | 0% | 0% | -14.84% |
earnings per share | |||||||||||||||||||||||||||||||||||||||||||||||||
basic | 4.36 | -0.42 | 1.1 | 1.81 | 1.49 | 1.37 | 0.99 | -0.595 | 0.33 | -1.55 | -1.16 | -0.208 | -0.86 | -0.65 | 0.68 | 0.68 | -0.2 | 0.005 | 0.01 | 0.01 | -0.1 | -0.1 | 0.12 | 0.12 | -0.61 | -0.53 | -0.53 | -1.14 | 0.033 | 1.34 | 1.34 | -0.79 | 2.44 | -0.74 | 0.24 | 0.24 | |||||||||||||
diluted | 3.28 | -0.42 | 1.07 | 1.76 | 1.45 | 1.33 | 0.97 | -0.595 | 0.33 | -1.55 | -1.16 | -0.408 | -0.99 | -0.85 | 0.21 | 0.21 | -0.21 | -0.213 | -0.41 | -0.41 | -0.19 | -0.19 | -0.25 | -0.25 | -0.61 | -0.58 | -0.58 | -0.2 | -0.2 | -1.14 | 0.023 | 0.36 | 0.36 | -0.79 | 0.36 | -0.74 | 0.23 | 0.23 | |||||||||||
weighted-average ordinary shares outstanding | |||||||||||||||||||||||||||||||||||||||||||||||||
basic | 205,964,504 | 205,426,999 | 204,467,927 | 200,622,518 | 201,575,568 | 199,959,172 | 198,025,456 | 194,732,304 | 194,881,723 | 194,420,128 | 193,562,462 | 192,934,862 | 193,077,334 | 192,948,032 | 192,476,022 | 192,476,022 | 191,952,473 | 191,298,397 | 191,485,473 | 191,485,473 | 191,172,946 | 191,172,946 | 190,565,397 | 190,565,397 | 189,852,424 | 187,583,307 | 188,842,828 | 188,842,828 | 185,046,324 | 185,046,324 | 182,942,528 | 180,960,579 | 179,863,596 | 179,863,596 | 180,613,539 | 181,067,994 | 177,154,405 | 180,510,524 | 180,510,524 | ||||||||||
diluted | 213,789,735 | 205,426,999 | 210,243,478 | 206,990,369 | 207,399,501 | 206,119,851 | 203,773,043 | 194,732,304 | 198,012,369 | 194,420,128 | 193,562,462 | 195,846,362 | 195,988,834 | 195,859,532 | 197,077,256 | 197,077,256 | 192,144,654 | 193,943,455 | 194,551,862 | 194,551,862 | 194,084,446 | 194,084,446 | 191,815,695 | 191,815,695 | 189,852,424 | 187,583,307 | 189,054,064 | 189,054,064 | 185,632,113 | 185,632,113 | 182,942,528 | 180,960,579 | 188,477,554 | 188,477,554 | 180,613,539 | 190,511,148 | 181,210,292 | 188,120,122 | 188,120,122 | ||||||||||
finance (cost)/income - net | -358,000,000 | -181,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
finance (costs)/income - net | 22,000,000 | -56,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
finance income/(costs)—net | 39,000,000 | 87,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
loss before tax | -179,000,000 | -455,000,000 | -59,000,000 | -169,000,000 | 481,000,000 | 481,000,000 | -82,000,000 | -392,000,000 | -180,000,000 | -180,000,000 | |||||||||||||||||||||||||||||||||||||||
net loss attributable to owners of the parent | -125,000,000 | -356,000,000 | -76,000,000 | -394,000,000 | -169,000,000 | -169,000,000 | |||||||||||||||||||||||||||||||||||||||||||
loss per share attributable to owners of the parent | |||||||||||||||||||||||||||||||||||||||||||||||||
basic | -0.66 | ||||||||||||||||||||||||||||||||||||||||||||||||
diluted | -0.66 | ||||||||||||||||||||||||||||||||||||||||||||||||
loss per share attributable to owners of the parent | |||||||||||||||||||||||||||||||||||||||||||||||||
basic and diluted | -1.91 | -1.91 | -0.42 | -0.42 | -0.79 | ||||||||||||||||||||||||||||||||||||||||||||
weighted-average ordinary shares outstanding | |||||||||||||||||||||||||||||||||||||||||||||||||
basic and diluted | 186,552,877 | 186,552,877 | 180,409,115 | 180,409,115 | 180,613,539 | 179,077,124 | 179,077,124 | 167,778,952 | 167,778,952 | 167,778,952 | |||||||||||||||||||||||||||||||||||||||
share in losses of associate | |||||||||||||||||||||||||||||||||||||||||||||||||
share in earnings of associate | -1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
share in (losses)/earnings of associate | -1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
net income per share | |||||||||||||||||||||||||||||||||||||||||||||||||
basic and diluted | -2.2 | -2.2 | -1.01 | -1.01 | -1.01 | ||||||||||||||||||||||||||||||||||||||||||||
income tax (benefit) expense | -11,000,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-04-27 | 2022-03-31 | 2022-02-02 | 2021-12-31 | 2021-10-27 | 2021-09-30 | 2021-07-28 | 2021-06-30 | 2021-04-28 | 2021-03-31 | 2021-02-03 | 2020-12-31 | 2020-10-29 | 2020-09-30 | 2020-07-29 | 2020-06-30 | 2020-04-29 | 2020-03-31 | 2020-02-05 | 2019-12-31 | 2019-10-28 | 2019-09-30 | 2019-07-31 | 2019-06-30 | 2019-04-29 | 2019-03-31 | 2019-02-06 | 2018-12-31 | 2018-11-01 | 2018-09-30 | 2018-07-26 | 2018-06-30 | 2018-05-03 | 2018-05-02 | 2018-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||||||||||||||||||||||||||||
non-current assets | |||||||||||||||||||||||||||||||||||||||||||||||||
lease right-of-use assets | 242,000,000 | 256,000,000 | 223,000,000 | 226,000,000 | 235,000,000 | 254,000,000 | 274,000,000 | 300,000,000 | 343,000,000 | 344,000,000 | 413,000,000 | 417,000,000 | 453,000,000 | 445,000,000 | 443,000,000 | 443,000,000 | 437,000,000 | 437,000,000 | 443,000,000 | 443,000,000 | 441,000,000 | 441,000,000 | 452,000,000 | 452,000,000 | 444,000,000 | 444,000,000 | 459,000,000 | 459,000,000 | 476,000,000 | 476,000,000 | 491,000,000 | 491,000,000 | 489,000,000 | 489,000,000 | 486,000,000 | 486,000,000 | 398,000,000 | 398,000,000 | 430,000,000 | 430,000,000 | |||||||||
property and equipment | 174,000,000 | 161,000,000 | 178,000,000 | 188,000,000 | 195,000,000 | 211,000,000 | 224,000,000 | 247,000,000 | 275,000,000 | 280,000,000 | 331,000,000 | 348,000,000 | 382,000,000 | 373,000,000 | 369,000,000 | 369,000,000 | 372,000,000 | 372,000,000 | 369,000,000 | 369,000,000 | 351,000,000 | 351,000,000 | 337,000,000 | 337,000,000 | 313,000,000 | 313,000,000 | 299,000,000 | 299,000,000 | 287,000,000 | 287,000,000 | 291,000,000 | 291,000,000 | 291,000,000 | 291,000,000 | 270,000,000 | 270,000,000 | 243,000,000 | 243,000,000 | 235,000,000 | 235,000,000 | 197,000,000 | 197,000,000 | 135,000,000 | 135,000,000 | 83,000,000 | 83,000,000 | 68,000,000 | 68,000,000 | 68,000,000 |
goodwill | 1,078,000,000 | 1,074,000,000 | 1,156,000,000 | 1,201,000,000 | 1,128,000,000 | 1,167,000,000 | 1,159,000,000 | 1,137,000,000 | 1,180,000,000 | 1,148,000,000 | 1,155,000,000 | 1,168,000,000 | 1,261,000,000 | 1,111,000,000 | 978,000,000 | 978,000,000 | 894,000,000 | 894,000,000 | 869,000,000 | 869,000,000 | 851,000,000 | 851,000,000 | 815,000,000 | 815,000,000 | 736,000,000 | 736,000,000 | 595,000,000 | 595,000,000 | 617,000,000 | 617,000,000 | 627,000,000 | 627,000,000 | 478,000,000 | 478,000,000 | 489,000,000 | 489,000,000 | 464,000,000 | 464,000,000 | 424,000,000 | 424,000,000 | |||||||||
intangible assets | 33,000,000 | 37,000,000 | 43,000,000 | 48,000,000 | 58,000,000 | 68,000,000 | 76,000,000 | 84,000,000 | 98,000,000 | 105,000,000 | 115,000,000 | 127,000,000 | 153,000,000 | 126,000,000 | 109,000,000 | 109,000,000 | 89,000,000 | 89,000,000 | 91,000,000 | 91,000,000 | 95,000,000 | 95,000,000 | 98,000,000 | 98,000,000 | 97,000,000 | 97,000,000 | 82,000,000 | 82,000,000 | 86,000,000 | 86,000,000 | 87,000,000 | 87,000,000 | 58,000,000 | 58,000,000 | 58,000,000 | 58,000,000 | 55,000,000 | 55,000,000 | 54,000,000 | 54,000,000 | |||||||||
long term investments | 2,888,000,000 | 2,417,000,000 | 1,958,000,000 | 1,635,000,000 | 1,604,000,000 | 1,931,000,000 | 1,534,000,000 | 1,215,000,000 | 903,000,000 | 1,015,000,000 | 1,134,000,000 | 1,138,000,000 | 630,000,000 | 720,000,000 | 682,000,000 | 682,000,000 | 916,000,000 | 916,000,000 | 1,090,000,000 | 1,090,000,000 | 1,897,000,000 | 1,897,000,000 | 2,522,000,000 | 2,522,000,000 | 2,277,000,000 | 2,277,000,000 | 1,811,000,000 | 1,811,000,000 | 1,725,000,000 | 1,725,000,000 | 1,312,000,000 | 1,312,000,000 | 1,497,000,000 | 1,497,000,000 | 1,678,000,000 | 1,678,000,000 | 1,883,000,000 | 1,883,000,000 | 2,299,000,000 | 2,299,000,000 | 1,646,000,000 | 1,646,000,000 | 1,589,000,000 | 1,589,000,000 | 968,000,000 | 968,000,000 | 968,000,000 | ||
restricted cash and other non-current assets | 61,000,000 | 59,000,000 | 65,000,000 | 68,000,000 | 72,000,000 | 70,000,000 | 72,000,000 | 75,000,000 | 75,000,000 | 76,000,000 | 77,000,000 | 78,000,000 | 86,000,000 | 84,000,000 | 82,000,000 | 82,000,000 | 77,000,000 | 77,000,000 | 77,000,000 | 77,000,000 | 78,000,000 | 78,000,000 | 82,000,000 | 82,000,000 | 78,000,000 | 78,000,000 | 66,000,000 | 66,000,000 | 66,000,000 | 66,000,000 | 69,000,000 | 69,000,000 | 69,000,000 | 69,000,000 | 68,000,000 | 68,000,000 | 68,000,000 | 68,000,000 | 70,000,000 | 70,000,000 | 65,000,000 | 65,000,000 | 65,000,000 | 65,000,000 | 65,000,000 | 65,000,000 | 56,000,000 | ||
finance lease receivables | 69,000,000 | 68,000,000 | 74,000,000 | 74,000,000 | 64,000,000 | 52,000,000 | 51,000,000 | ||||||||||||||||||||||||||||||||||||||||||
deferred tax assets | 87,000,000 | 94,000,000 | 136,000,000 | 186,000,000 | 194,000,000 | 49,000,000 | 41,000,000 | 28,000,000 | 23,000,000 | 15,000,000 | 11,000,000 | 8,000,000 | 8,000,000 | 7,000,000 | 8,000,000 | 8,000,000 | 13,000,000 | 13,000,000 | 13,000,000 | 13,000,000 | 17,000,000 | 17,000,000 | 14,000,000 | 14,000,000 | 15,000,000 | 15,000,000 | 13,000,000 | 13,000,000 | 13,000,000 | 13,000,000 | 6,000,000 | 6,000,000 | 9,000,000 | 9,000,000 | 9,000,000 | 9,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 8,000,000 | 8,000,000 | 11,000,000 | 11,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 |
non-current assets - sum | 4,632,000,000 | 4,166,000,000 | 3,833,000,000 | 3,626,000,000 | 3,550,000,000 | 3,802,000,000 | 3,431,000,000 | 3,086,000,000 | 2,897,000,000 | 2,983,000,000 | 3,236,000,000 | 3,284,000,000 | 2,973,000,000 | 2,866,000,000 | 2,671,000,000 | 2,671,000,000 | 2,798,000,000 | 2,798,000,000 | 2,952,000,000 | 2,952,000,000 | 3,730,000,000 | 3,730,000,000 | 4,320,000,000 | 4,320,000,000 | 3,960,000,000 | 3,960,000,000 | 3,325,000,000 | 3,325,000,000 | 3,270,000,000 | 2,883,000,000 | 2,891,000,000 | 2,891,000,000 | 3,058,000,000 | 3,121,000,000 | 3,522,000,000 | 2,090,000,000 | 2,090,000,000 | 1,973,000,000 | 1,302,000,000 | 1,264,000,000 | 1,264,000,000 | ||||||||
current assets | |||||||||||||||||||||||||||||||||||||||||||||||||
trade and other receivables | 735,000,000 | 736,000,000 | 749,000,000 | 771,000,000 | 749,000,000 | 753,000,000 | 777,000,000 | 858,000,000 | 747,000,000 | 632,000,000 | 555,000,000 | 690,000,000 | 648,000,000 | 613,000,000 | 556,000,000 | 556,000,000 | 621,000,000 | 621,000,000 | 571,000,000 | 571,000,000 | 492,000,000 | 492,000,000 | 440,000,000 | 440,000,000 | 464,000,000 | 464,000,000 | 392,000,000 | 392,000,000 | 361,000,000 | 361,000,000 | 363,000,000 | 363,000,000 | 402,000,000 | 402,000,000 | 386,000,000 | 386,000,000 | 429,000,000 | 429,000,000 | 391,000,000 | 391,000,000 | 400,000,000 | 400,000,000 | 359,000,000 | 359,000,000 | 324,000,000 | 324,000,000 | 322,000,000 | 322,000,000 | 322,000,000 |
income tax receivable | 117,000,000 | 83,000,000 | 46,000,000 | 28,000,000 | 27,000,000 | 35,000,000 | 21,000,000 | 20,000,000 | 8,000,000 | 8,000,000 | 5,000,000 | 5,000,000 | 2,000,000 | 4,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 6,000,000 | 6,000,000 | 5,000,000 | 5,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 3,000,000 | 3,000,000 | 4,000,000 | 4,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
short term investments | 3,606,000,000 | 3,183,000,000 | 2,894,000,000 | 2,667,000,000 | 1,392,000,000 | 1,344,000,000 | 1,220,000,000 | 1,100,000,000 | 1,097,000,000 | 866,000,000 | 995,000,000 | 867,000,000 | 815,000,000 | 782,000,000 | 816,000,000 | 816,000,000 | 756,000,000 | 756,000,000 | 725,000,000 | 725,000,000 | 612,000,000 | 612,000,000 | 644,000,000 | 644,000,000 | 596,000,000 | 596,000,000 | 719,000,000 | 719,000,000 | 636,000,000 | 636,000,000 | 733,000,000 | 733,000,000 | 692,000,000 | 692,000,000 | 640,000,000 | 640,000,000 | 586,000,000 | 586,000,000 | 660,000,000 | 660,000,000 | 915,000,000 | 915,000,000 | 669,000,000 | 669,000,000 | 885,000,000 | 885,000,000 | 843,000,000 | 843,000,000 | 843,000,000 |
cash and cash equivalents | 5,456,000,000 | 5,161,000,000 | 5,019,000,000 | 4,781,000,000 | 4,688,000,000 | 4,054,000,000 | 3,451,000,000 | 3,114,000,000 | 2,618,000,000 | 2,550,000,000 | 2,443,000,000 | 2,483,000,000 | 2,851,000,000 | 2,786,000,000 | 2,721,000,000 | 2,721,000,000 | 2,744,000,000 | 2,744,000,000 | 2,512,000,000 | 2,512,000,000 | 2,440,000,000 | 2,440,000,000 | 2,442,000,000 | 2,442,000,000 | 1,151,000,000 | 1,151,000,000 | 1,182,000,000 | 1,182,000,000 | 1,148,000,000 | 1,148,000,000 | 951,000,000 | 951,000,000 | 1,065,000,000 | 1,065,000,000 | 877,000,000 | 877,000,000 | 909,000,000 | 909,000,000 | 966,000,000 | 966,000,000 | 891,000,000 | 891,000,000 | 1,095,000,000 | 1,095,000,000 | 810,000,000 | 810,000,000 | 733,000,000 | 733,000,000 | 733,000,000 |
other current assets | 143,000,000 | 136,000,000 | 146,000,000 | 132,000,000 | 147,000,000 | 158,000,000 | 175,000,000 | 168,000,000 | 225,000,000 | 273,000,000 | 295,000,000 | 307,000,000 | 343,000,000 | 337,000,000 | 270,000,000 | 270,000,000 | 246,000,000 | 246,000,000 | 224,000,000 | 224,000,000 | 201,000,000 | 201,000,000 | 186,000,000 | 186,000,000 | 151,000,000 | 151,000,000 | 142,000,000 | 142,000,000 | 115,000,000 | 115,000,000 | 93,000,000 | 93,000,000 | 68,000,000 | 68,000,000 | 73,000,000 | 73,000,000 | 66,000,000 | 66,000,000 | 52,000,000 | 52,000,000 | 38,000,000 | 38,000,000 | 35,000,000 | 35,000,000 | 38,000,000 | 38,000,000 | 39,000,000 | 39,000,000 | 39,000,000 |
current assets - sum | 10,057,000,000 | 9,299,000,000 | 8,854,000,000 | 8,379,000,000 | 7,003,000,000 | 6,344,000,000 | 5,644,000,000 | 5,260,000,000 | 4,695,000,000 | 4,329,000,000 | 4,293,000,000 | 4,352,000,000 | 4,659,000,000 | 4,522,000,000 | 4,368,000,000 | 4,368,000,000 | 4,372,000,000 | 4,372,000,000 | 4,037,000,000 | 4,037,000,000 | 3,751,000,000 | 3,751,000,000 | 3,717,000,000 | 3,717,000,000 | 2,366,000,000 | 2,366,000,000 | 2,439,000,000 | 2,439,000,000 | 2,264,000,000 | 2,143,000,000 | 2,231,000,000 | 2,231,000,000 | 1,978,000,000 | 1,992,000,000 | 2,071,000,000 | 2,246,000,000 | 2,246,000,000 | 2,160,000,000 | 2,058,000,000 | 1,938,000,000 | 1,938,000,000 | ||||||||
total assets | 14,689,000,000 | 13,465,000,000 | 12,687,000,000 | 12,005,000,000 | 10,553,000,000 | 10,146,000,000 | 9,075,000,000 | 8,346,000,000 | 7,592,000,000 | 7,312,000,000 | 7,529,000,000 | 7,636,000,000 | 7,632,000,000 | 7,388,000,000 | 7,039,000,000 | 7,039,000,000 | 7,170,000,000 | 7,170,000,000 | 6,989,000,000 | 6,989,000,000 | 7,481,000,000 | 7,481,000,000 | 8,037,000,000 | 8,037,000,000 | 6,326,000,000 | 6,326,000,000 | 5,764,000,000 | 5,764,000,000 | 5,534,000,000 | 5,534,000,000 | 5,026,000,000 | 5,026,000,000 | 5,122,000,000 | 5,122,000,000 | 5,036,000,000 | 5,036,000,000 | 5,113,000,000 | 5,113,000,000 | 5,593,000,000 | 5,593,000,000 | 4,336,000,000 | 4,336,000,000 | 4,133,000,000 | 4,133,000,000 | 3,360,000,000 | 3,360,000,000 | 3,202,000,000 | 3,202,000,000 | 3,202,000,000 |
equity and liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
equity | |||||||||||||||||||||||||||||||||||||||||||||||||
share capital | |||||||||||||||||||||||||||||||||||||||||||||||||
other paid in capital | 6,459,000,000 | 6,420,000,000 | 6,328,000,000 | 6,124,000,000 | 5,825,000,000 | 5,637,000,000 | 5,397,000,000 | 5,155,000,000 | 4,931,000,000 | 4,899,000,000 | 4,864,000,000 | 4,789,000,000 | 4,789,000,000 | 4,789,000,000 | 4,789,000,000 | 4,789,000,000 | 4,746,000,000 | 4,746,000,000 | 4,681,000,000 | 4,681,000,000 | 4,656,000,000 | 4,656,000,000 | 4,630,000,000 | 4,630,000,000 | 4,583,000,000 | 4,583,000,000 | 4,539,000,000 | 4,539,000,000 | 4,175,000,000 | 4,175,000,000 | 4,079,000,000 | 4,079,000,000 | 4,192,000,000 | 4,192,000,000 | 3,884,000,000 | 3,884,000,000 | 3,854,000,000 | 3,854,000,000 | 3,834,000,000 | 3,834,000,000 | 3,801,000,000 | 3,801,000,000 | 3,783,000,000 | 3,783,000,000 | 3,733,000,000 | 3,733,000,000 | 2,531,000,000 | 2,531,000,000 | 2,531,000,000 |
treasury shares | -328,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -262,000,000 | -260,000,000 | -260,000,000 | -201,000,000 | -201,000,000 | -171,000,000 | -171,000,000 | -171,000,000 | -171,000,000 | -175,000,000 | -175,000,000 | -175,000,000 | -175,000,000 | -175,000,000 | -175,000,000 | -180,000,000 | -180,000,000 | -370,000,000 | -370,000,000 | -494,000,000 | -494,000,000 | -365,000,000 | -365,000,000 | -198,000,000 | -198,000,000 | -77,000,000 | -77,000,000 | |||||||
other reserves | 3,654,000,000 | 3,374,000,000 | 3,000,000,000 | 2,707,000,000 | 2,481,000,000 | 2,595,000,000 | 2,159,000,000 | 1,812,000,000 | 1,582,000,000 | 1,594,000,000 | 1,615,000,000 | 1,521,000,000 | 1,085,000,000 | 988,000,000 | 709,000,000 | 709,000,000 | 853,000,000 | 853,000,000 | 922,000,000 | 922,000,000 | 1,501,000,000 | 1,501,000,000 | 2,052,000,000 | 2,052,000,000 | 1,687,000,000 | 1,687,000,000 | 1,267,000,000 | 1,267,000,000 | 1,187,000,000 | 1,187,000,000 | 822,000,000 | 822,000,000 | 924,000,000 | 924,000,000 | 1,052,000,000 | 1,052,000,000 | 1,197,000,000 | 1,197,000,000 | 1,491,000,000 | 1,491,000,000 | 875,000,000 | 875,000,000 | 758,000,000 | 758,000,000 | 256,000,000 | 256,000,000 | 226,000,000 | 226,000,000 | 226,000,000 |
accumulated deficit | -2,006,000,000 | -2,905,000,000 | -2,819,000,000 | -3,044,000,000 | -3,411,000,000 | -3,711,000,000 | -3,985,000,000 | -4,182,000,000 | -4,112,000,000 | -4,177,000,000 | -3,875,000,000 | -3,647,000,000 | -3,379,000,000 | -3,214,000,000 | -3,089,000,000 | -3,089,000,000 | -3,220,000,000 | -3,220,000,000 | -3,285,000,000 | -3,285,000,000 | -3,287,000,000 | -3,287,000,000 | -3,267,000,000 | -3,267,000,000 | -3,290,000,000 | -3,290,000,000 | -3,165,000,000 | -3,165,000,000 | -3,064,000,000 | -3,064,000,000 | -2,708,000,000 | -2,708,000,000 | -2,709,000,000 | -2,709,000,000 | -2,500,000,000 | -2,500,000,000 | -2,741,000,000 | -2,741,000,000 | -2,665,000,000 | -2,665,000,000 | -2,505,000,000 | -2,505,000,000 | -2,947,000,000 | -2,947,000,000 | -2,990,000,000 | -2,990,000,000 | -2,596,000,000 | -2,596,000,000 | -2,596,000,000 |
equity attributable to owners of the parent | 7,779,000,000 | 6,627,000,000 | 6,247,000,000 | 5,525,000,000 | 4,633,000,000 | 4,259,000,000 | 3,309,000,000 | 2,523,000,000 | 2,139,000,000 | 2,054,000,000 | 2,342,000,000 | 2,401,000,000 | 2,233,000,000 | 2,301,000,000 | 2,147,000,000 | 2,147,000,000 | 2,119,000,000 | 2,119,000,000 | 2,117,000,000 | 2,117,000,000 | 2,699,000,000 | 2,699,000,000 | 3,244,000,000 | 3,244,000,000 | 2,805,000,000 | 2,805,000,000 | 2,466,000,000 | 2,466,000,000 | 2,123,000,000 | 2,123,000,000 | 2,013,000,000 | 2,013,000,000 | 2,037,000,000 | 2,037,000,000 | 1,942,000,000 | 1,942,000,000 | 1,945,000,000 | 1,945,000,000 | 2,462,000,000 | 2,462,000,000 | 2,094,000,000 | ||||||||
non-current liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
exchangeable notes | 1,539,000,000 | 1,340,000,000 | 1,323,000,000 | 1,270,000,000 | 1,203,000,000 | 1,209,000,000 | 1,167,000,000 | 1,156,000,000 | 1,128,000,000 | 1,197,000,000 | 1,127,000,000 | 1,146,000,000 | 1,146,000,000 | 1,202,000,000 | 1,202,000,000 | 1,175,000,000 | 1,175,000,000 | 1,199,000,000 | 1,199,000,000 | 1,229,000,000 | 1,229,000,000 | ||||||||||||||||||||||||||||
lease liabilities | 444,000,000 | 453,000,000 | 448,000,000 | 462,000,000 | 446,000,000 | 472,000,000 | 493,000,000 | 493,000,000 | 520,000,000 | 522,000,000 | 546,000,000 | 555,000,000 | 608,000,000 | 592,000,000 | 587,000,000 | 587,000,000 | 579,000,000 | 579,000,000 | 582,000,000 | 582,000,000 | 576,000,000 | 576,000,000 | 587,000,000 | 587,000,000 | 577,000,000 | 577,000,000 | 592,000,000 | 592,000,000 | 612,000,000 | 612,000,000 | 624,000,000 | 624,000,000 | 622,000,000 | 622,000,000 | 618,000,000 | 618,000,000 | 517,000,000 | 517,000,000 | 555,000,000 | 555,000,000 | |||||||||
accrued expenses and other liabilities | 1,000,000 | 4,000,000 | 4,000,000 | 5,000,000 | 5,000,000 | 11,000,000 | 17,000,000 | 26,000,000 | 14,000,000 | 14,000,000 | 17,000,000 | 28,000,000 | 31,000,000 | 29,000,000 | 30,000,000 | 30,000,000 | 37,000,000 | 37,000,000 | 37,000,000 | 37,000,000 | 36,000,000 | 36,000,000 | 38,000,000 | 38,000,000 | 42,000,000 | 42,000,000 | 39,000,000 | 39,000,000 | 37,000,000 | 37,000,000 | 46,000,000 | 46,000,000 | 20,000,000 | 20,000,000 | 13,000,000 | 13,000,000 | 11,000,000 | 11,000,000 | 1,000,000 | 1,000,000 | 85,000,000 | 85,000,000 | 78,000,000 | 78,000,000 | 71,000,000 | 71,000,000 | 61,000,000 | 61,000,000 | 61,000,000 |
provisions | 3,000,000 | 3,000,000 | 2,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | 4,000,000 | 6,000,000 | 6,000,000 | 7,000,000 | 7,000,000 | 3,000,000 | 3,000,000 | 2,000,000 | 2,000,000 | 3,000,000 | 3,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 6,000,000 | 6,000,000 | 5,000,000 | 5,000,000 | 7,000,000 | 7,000,000 | 8,000,000 | 8,000,000 | 8,000,000 | 8,000,000 | 8,000,000 | 8,000,000 | 7,000,000 | 7,000,000 | 7,000,000 |
deferred tax liabilities | 223,000,000 | 66,000,000 | 21,000,000 | 21,000,000 | 20,000,000 | 19,000,000 | 17,000,000 | 8,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 5,000,000 | 2,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 1,000,000 | 1,000,000 | 2,000,000 | 2,000,000 | 61,000,000 | 61,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 3,000,000 | 3,000,000 | 3,000,000 | ||||||||||||
non-current liabilities - sum | 671,000,000 | 526,000,000 | 475,000,000 | 2,030,000,000 | 1,814,000,000 | 1,828,000,000 | 1,800,000,000 | 1,733,000,000 | 1,752,000,000 | 1,712,000,000 | 1,728,000,000 | 1,719,000,000 | 1,841,000,000 | 1,753,000,000 | 1,769,000,000 | 1,769,000,000 | 1,825,000,000 | 1,825,000,000 | 1,797,000,000 | 1,797,000,000 | 1,813,000,000 | 1,813,000,000 | 1,857,000,000 | 1,857,000,000 | 621,000,000 | 621,000,000 | 634,000,000 | 634,000,000 | 652,000,000 | 674,000,000 | 646,000,000 | 646,000,000 | 638,000,000 | 535,000,000 | 624,000,000 | 95,000,000 | 95,000,000 | 88,000,000 | 81,000,000 | 1,093,000,000 | 1,093,000,000 | ||||||||
current liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
trade and other payables | 1,193,000,000 | 1,171,000,000 | 1,064,000,000 | 1,342,000,000 | 1,084,000,000 | 1,091,000,000 | 1,048,000,000 | 978,000,000 | 945,000,000 | 893,000,000 | 850,000,000 | 845,000,000 | 947,000,000 | 825,000,000 | 695,000,000 | 695,000,000 | 793,000,000 | 793,000,000 | 774,000,000 | 774,000,000 | 705,000,000 | 705,000,000 | 660,000,000 | 660,000,000 | 638,000,000 | 638,000,000 | 615,000,000 | 615,000,000 | 555,000,000 | 555,000,000 | 547,000,000 | 547,000,000 | 549,000,000 | 549,000,000 | 519,000,000 | 519,000,000 | 440,000,000 | 440,000,000 | 397,000,000 | 397,000,000 | 427,000,000 | 427,000,000 | 384,000,000 | 384,000,000 | 369,000,000 | 369,000,000 | 360,000,000 | 360,000,000 | 360,000,000 |
income tax payable | 31,000,000 | 42,000,000 | 40,000,000 | 33,000,000 | 21,000,000 | 17,000,000 | 14,000,000 | 12,000,000 | 8,000,000 | 11,000,000 | 9,000,000 | 11,000,000 | 16,000,000 | 7,000,000 | 13,000,000 | 13,000,000 | 23,000,000 | 23,000,000 | 10,000,000 | 10,000,000 | 11,000,000 | 11,000,000 | 12,000,000 | 12,000,000 | 9,000,000 | 9,000,000 | 5,000,000 | 5,000,000 | 4,000,000 | 4,000,000 | 8,000,000 | 8,000,000 | 9,000,000 | 9,000,000 | 8,000,000 | 8,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 5,000,000 | 5,000,000 | 3,000,000 | 3,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 |
deferred revenue | 692,000,000 | 665,000,000 | 675,000,000 | 683,000,000 | 680,000,000 | 657,000,000 | 634,000,000 | 622,000,000 | 599,000,000 | 536,000,000 | 524,000,000 | 520,000,000 | 522,000,000 | 489,000,000 | 469,000,000 | 469,000,000 | 458,000,000 | 458,000,000 | 440,000,000 | 440,000,000 | 439,000,000 | 439,000,000 | 424,000,000 | 424,000,000 | 380,000,000 | 380,000,000 | 363,000,000 | 363,000,000 | 349,000,000 | 349,000,000 | 317,000,000 | 317,000,000 | 319,000,000 | 319,000,000 | 308,000,000 | 308,000,000 | 290,000,000 | 290,000,000 | 273,000,000 | 273,000,000 | 258,000,000 | 258,000,000 | 240,000,000 | 240,000,000 | 234,000,000 | 234,000,000 | 223,000,000 | 223,000,000 | 223,000,000 |
derivative liabilities | 13,000,000 | 16,000,000 | 22,000,000 | 20,000,000 | 22,000,000 | 47,000,000 | 22,000,000 | 17,000,000 | 17,000,000 | 28,000,000 | 24,000,000 | 21,000,000 | 24,000,000 | 23,000,000 | 42,000,000 | 42,000,000 | 89,000,000 | 89,000,000 | 84,000,000 | 84,000,000 | 87,000,000 | 87,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 105,000,000 | 61,000,000 | 61,000,000 | 312,000,000 | 312,000,000 | 66,000,000 | 66,000,000 | 111,000,000 | 111,000,000 | 354,000,000 | 354,000,000 | 519,000,000 | 519,000,000 | 491,000,000 | 491,000,000 | 339,000,000 | 339,000,000 | 711,000,000 | 711,000,000 | 631,000,000 | 631,000,000 | 419,000,000 | 419,000,000 | 419,000,000 |
current liabilities - sum | 6,239,000,000 | 6,312,000,000 | 5,965,000,000 | 4,450,000,000 | 4,106,000,000 | 4,059,000,000 | 3,966,000,000 | 4,090,000,000 | 3,701,000,000 | 3,546,000,000 | 3,459,000,000 | 3,516,000,000 | 3,558,000,000 | 3,334,000,000 | 3,123,000,000 | 3,123,000,000 | 3,226,000,000 | 3,226,000,000 | 3,075,000,000 | 3,075,000,000 | 2,969,000,000 | 2,969,000,000 | 2,936,000,000 | 2,936,000,000 | 2,900,000,000 | 2,900,000,000 | 2,664,000,000 | 2,664,000,000 | 2,759,000,000 | 2,339,000,000 | 2,439,000,000 | 2,439,000,000 | 2,456,000,000 | 2,633,000,000 | 2,507,000,000 | 2,147,000,000 | 2,147,000,000 | 2,451,000,000 | 2,280,000,000 | 1,948,000,000 | 1,948,000,000 | ||||||||
total liabilities | 6,910,000,000 | 6,838,000,000 | 6,440,000,000 | 6,480,000,000 | 5,920,000,000 | 5,887,000,000 | 5,766,000,000 | 5,823,000,000 | 5,453,000,000 | 5,258,000,000 | 5,187,000,000 | 5,235,000,000 | 5,399,000,000 | 5,087,000,000 | 4,892,000,000 | 4,892,000,000 | 5,051,000,000 | 5,051,000,000 | 4,872,000,000 | 4,872,000,000 | 4,782,000,000 | 4,782,000,000 | 4,793,000,000 | 4,793,000,000 | 3,521,000,000 | 3,521,000,000 | 3,298,000,000 | 3,298,000,000 | 3,411,000,000 | 3,411,000,000 | 3,013,000,000 | 3,013,000,000 | 3,085,000,000 | 3,085,000,000 | 3,094,000,000 | 3,094,000,000 | 3,168,000,000 | 3,168,000,000 | 3,131,000,000 | 3,131,000,000 | 2,242,000,000 | 2,242,000,000 | 2,539,000,000 | 2,539,000,000 | 2,361,000,000 | 2,361,000,000 | 3,041,000,000 | 3,041,000,000 | 3,041,000,000 |
total equity and liabilities | 14,689,000,000 | 13,465,000,000 | 12,687,000,000 | 12,005,000,000 | 10,553,000,000 | 10,146,000,000 | 9,075,000,000 | 8,346,000,000 | 7,592,000,000 | 7,312,000,000 | 7,529,000,000 | 7,636,000,000 | 7,632,000,000 | 7,388,000,000 | 7,039,000,000 | 7,039,000,000 | 7,170,000,000 | 7,170,000,000 | 6,989,000,000 | 6,989,000,000 | 7,481,000,000 | 7,481,000,000 | 8,037,000,000 | 8,037,000,000 | 6,326,000,000 | 6,326,000,000 | 5,764,000,000 | 5,764,000,000 | 5,534,000,000 | 5,534,000,000 | 5,026,000,000 | 5,026,000,000 | 5,122,000,000 | 5,122,000,000 | 5,036,000,000 | 5,036,000,000 | 5,113,000,000 | 5,113,000,000 | 5,593,000,000 | 5,593,000,000 | 4,336,000,000 | 4,336,000,000 | 4,133,000,000 | 4,133,000,000 | 3,360,000,000 | 3,360,000,000 | 3,202,000,000 | 3,202,000,000 | 3,202,000,000 |
intangible assets including goodwill | 174,000,000 | 174,000,000 | 173,000,000 | 173,000,000 | 175,000,000 | 175,000,000 | 161,000,000 | 161,000,000 | 161,000,000 | ||||||||||||||||||||||||||||||||||||||||
investment in associate | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
equity attributable to owners of parent | 2,094,000,000 | 1,594,000,000 | 1,594,000,000 | 999,000,000 | 999,000,000 | 161,000,000 | 161,000,000 | 161,000,000 | |||||||||||||||||||||||||||||||||||||||||
convertible notes | 1,022,000,000 | 1,022,000,000 | 1,022,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
long term investment | 968,000,000 | 968,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||
restricted cash | 56,000,000 | 56,000,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-04-27 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-04-28 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-04-29 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-04-29 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-05-03 | 2018-05-02 | 2018-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities | |||||||||||||||||||||||||||||||||||||
net income | 899,000,000 | -86,000,000 | 225,000,000 | 367,000,000 | 300,000,000 | 274,000,000 | 197,000,000 | -302,000,000 | -225,000,000 | -166,000,000 | -125,000,000 | 131,000,000 | 131,000,000 | 25,000,000 | -20,000,000 | 23,000,000 | 23,000,000 | -356,000,000 | 1,000,000 | 1,000,000 | -76,000,000 | -142,000,000 | -142,000,000 | -169,000,000 | |||||||||||||
adjustments to reconcile net income to net cash flows | |||||||||||||||||||||||||||||||||||||
depreciation of property and equipment and lease right-of-use assets | 19,000,000 | 20,000,000 | 20,000,000 | 21,000,000 | 21,000,000 | 21,000,000 | 22,000,000 | 23,000,000 | 26,000,000 | 30,000,000 | 31,000,000 | 32,000,000 | 30,000,000 | 29,000,000 | 27,000,000 | 27,000,000 | 70,000,000 | 46,000,000 | 23,000,000 | 22,000,000 | 22,000,000 | 65,000,000 | 21,000,000 | 23,000,000 | 21,000,000 | 21,000,000 | 20,000,000 | 17,000,000 | |||||||||
amortization of intangible assets | 5,000,000 | 6,000,000 | 7,000,000 | 9,000,000 | 9,000,000 | 9,000,000 | 9,000,000 | 11,000,000 | 10,000,000 | 14,000,000 | 13,000,000 | 18,000,000 | 14,000,000 | 11,000,000 | 10,000,000 | 10,000,000 | 24,000,000 | 17,000,000 | 8,000,000 | 8,000,000 | 8,000,000 | 18,000,000 | 7,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 4,000,000 | 9,000,000 | 3,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 5,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 |
impairment charge on real estate assets | 5,000,000 | 1,000,000 | 2,000,000 | 4,000,000 | |||||||||||||||||||||||||||||||||
share-based compensation expense | 75,000,000 | 73,000,000 | 42,000,000 | 54,000,000 | 63,000,000 | 81,000,000 | 69,000,000 | 34,000,000 | 85,000,000 | 97,000,000 | 105,000,000 | 100,000,000 | 108,000,000 | 105,000,000 | 68,000,000 | 68,000,000 | 166,000,000 | 48,000,000 | |||||||||||||||||||
finance income | -262,000,000 | -89,000,000 | -71,000,000 | -127,000,000 | -66,000,000 | -76,000,000 | -59,000,000 | -46,000,000 | -55,000,000 | -33,000,000 | -27,000,000 | -26,000,000 | -102,000,000 | -118,000,000 | -175,000,000 | -175,000,000 | -145,000,000 | -205,000,000 | -21,000,000 | -104,000,000 | -104,000,000 | -80,000,000 | -14,000,000 | -6,000,000 | -70,000,000 | -70,000,000 | -7,000,000 | -260,000,000 | -8,000,000 | -34,000,000 | -34,000,000 | -389,000,000 | -25,000,000 | -41,000,000 | -15,000,000 | -15,000,000 | -15,000,000 |
finance costs | 17,000,000 | 447,000,000 | 252,000,000 | 105,000,000 | 122,000,000 | 72,000,000 | 53,000,000 | 102,000,000 | 14,000,000 | 27,000,000 | 77,000,000 | 86,000,000 | 18,000,000 | 14,000,000 | 14,000,000 | 14,000,000 | 77,000,000 | 45,000,000 | 25,000,000 | 31,000,000 | 31,000,000 | 420,000,000 | 90,000,000 | 294,000,000 | 12,000,000 | 12,000,000 | 103,000,000 | 166,000,000 | 64,000,000 | 156,000,000 | 156,000,000 | 2,000,000 | 239,000,000 | 343,000,000 | 154,000,000 | 154,000,000 | 154,000,000 |
income tax expense | -72,000,000 | 134,000,000 | 103,000,000 | 132,000,000 | 98,000,000 | -4,000,000 | -23,000,000 | -61,000,000 | 8,000,000 | 61,000,000 | 19,000,000 | -21,000,000 | 22,000,000 | 35,000,000 | 24,000,000 | 24,000,000 | 123,000,000 | 224,000,000 | 28,000,000 | 64,000,000 | 64,000,000 | -113,000,000 | 40,000,000 | 36,000,000 | -27,000,000 | 39,000,000 | -11,000,000 | -11,000,000 | |||||||||
other | 1,000,000 | -10,000,000 | 13,000,000 | 3,000,000 | 4,000,000 | 4,000,000 | 8,000,000 | 0 | 3,000,000 | 2,000,000 | 2,000,000 | 10,000,000 | -3,000,000 | 2,000,000 | 4,000,000 | 4,000,000 | 14,000,000 | 9,000,000 | -10,000,000 | 8,000,000 | 8,000,000 | 15,000,000 | -5,000,000 | ||||||||||||||
changes in working capital: | |||||||||||||||||||||||||||||||||||||
decrease in trade receivables and other assets | -26,000,000 | 29,000,000 | -4,000,000 | 40,000,000 | 80,000,000 | -97,000,000 | 118,000,000 | 59,000,000 | 59,000,000 | 15,000,000 | 15,000,000 | 22,000,000 | 22,000,000 | 35,000,000 | 35,000,000 | 15,000,000 | 15,000,000 | ||||||||||||||||||||
increase in trade and other liabilities | 100,000,000 | 240,000,000 | 86,000,000 | 419,000,000 | 62,000,000 | 74,000,000 | 117,000,000 | 138,000,000 | -103,000,000 | 55,000,000 | 15,000,000 | 30,000,000 | -67,000,000 | 270,000,000 | 155,000,000 | 151,000,000 | -63,000,000 | 222,000,000 | 157,000,000 | 75,000,000 | 155,000,000 | 155,000,000 | 57,000,000 | 156,000,000 | 78,000,000 | 70,000,000 | 70,000,000 | 70,000,000 | |||||||||
increase in deferred revenue | 25,000,000 | 12,000,000 | 3,000,000 | -16,000,000 | 33,000,000 | 21,000,000 | 7,000,000 | 33,000,000 | 56,000,000 | 18,000,000 | 6,000,000 | 16,000,000 | 20,000,000 | 10,000,000 | 6,000,000 | 6,000,000 | 71,000,000 | 33,000,000 | 17,000,000 | 37,000,000 | 37,000,000 | 53,000,000 | 20,000,000 | 34,000,000 | -4,000,000 | 15,000,000 | 25,000,000 | 19,000,000 | 13,000,000 | 13,000,000 | 17,000,000 | 14,000,000 | 7,000,000 | 9,000,000 | 9,000,000 | 9,000,000 | |
increase in provisions | 2,000,000 | 8,000,000 | 12,000,000 | -1,000,000 | 0 | 1,000,000 | 14,000,000 | -3,000,000 | 7,000,000 | -1,000,000 | 7,000,000 | -7,000,000 | -3,000,000 | -3,000,000 | |||||||||||||||||||||||
interest paid | -11,000,000 | -6,000,000 | -13,000,000 | ||||||||||||||||||||||||||||||||||
interest received | 57,000,000 | 57,000,000 | 70,000,000 | 61,000,000 | 77,000,000 | 41,000,000 | 37,000,000 | 34,000,000 | 28,000,000 | 26,000,000 | 23,000,000 | 20,000,000 | 12,000,000 | 4,000,000 | 1,000,000 | 1,000,000 | 2,000,000 | 1,000,000 | 0 | 0 | 3,000,000 | 3,000,000 | 2,000,000 | 8,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | 3,000,000 | 13,000,000 | 2,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | ||||
income tax paid | -5,000,000 | -58,000,000 | -19,000,000 | -10,000,000 | -15,000,000 | -11,000,000 | -7,000,000 | -15,000,000 | -10,000,000 | -18,000,000 | -4,000,000 | -8,000,000 | -13,000,000 | -13,000,000 | -4,000,000 | -2,000,000 | -6,000,000 | -5,000,000 | -1,000,000 | -1,000,000 | -3,000,000 | -1,000,000 | -2,000,000 | -2,000,000 | -6,000,000 | -6,000,000 | |||||||||||
net cash flows from operating activities | 829,000,000 | 709,000,000 | 539,000,000 | 883,000,000 | 715,000,000 | 492,000,000 | 211,000,000 | 397,000,000 | 211,000,000 | 13,000,000 | 59,000,000 | -70,000,000 | 40,000,000 | 39,000,000 | 37,000,000 | 37,000,000 | 238,000,000 | 188,000,000 | 54,000,000 | 65,000,000 | 65,000,000 | 137,000,000 | 122,000,000 | 39,000,000 | -9,000,000 | -9,000,000 | 203,000,000 | 280,000,000 | 90,000,000 | 209,000,000 | 209,000,000 | 150,000,000 | 164,000,000 | 30,000,000 | 84,000,000 | 84,000,000 | 84,000,000 |
capital expenditures | -23,000,000 | 0 | 0 | -7,000,000 | 2,000,000 | -1,000,000 | 2,000,000 | 4,000,000 | -1,000,000 | 0 | 3,000,000 | -4,000,000 | -5,000,000 | -5,000,000 | -10,000,000 | -4,000,000 | -60,000,000 | -49,000,000 | -20,000,000 | -24,000,000 | -8,000,000 | -61,000,000 | -5,000,000 | -19,000,000 | 1,000,000 | 1,000,000 | -32,000,000 | -63,000,000 | -40,000,000 | -37,000,000 | -12,000,000 | -65,000,000 | -55,000,000 | -5,000,000 | -2,000,000 | -6,000,000 | -2,000,000 |
free cash flows | 806,000,000 | 709,000,000 | 539,000,000 | 876,000,000 | 717,000,000 | 491,000,000 | 213,000,000 | 401,000,000 | 210,000,000 | 13,000,000 | 62,000,000 | -74,000,000 | 35,000,000 | 34,000,000 | 27,000,000 | 33,000,000 | 178,000,000 | 139,000,000 | 34,000,000 | 41,000,000 | 57,000,000 | 76,000,000 | 117,000,000 | 20,000,000 | -8,000,000 | -8,000,000 | 171,000,000 | 217,000,000 | 50,000,000 | 172,000,000 | 197,000,000 | 85,000,000 | 109,000,000 | 25,000,000 | 82,000,000 | 78,000,000 | 82,000,000 |
investing activities | |||||||||||||||||||||||||||||||||||||
payment of deferred consideration pertaining to business combinations | 0 | 0 | |||||||||||||||||||||||||||||||||||
purchases of property and equipment | -23,000,000 | -6,000,000 | -5,000,000 | -5,000,000 | -5,000,000 | -10,000,000 | -10,000,000 | -60,000,000 | -49,000,000 | -20,000,000 | -24,000,000 | -24,000,000 | -61,000,000 | -17,000,000 | -14,000,000 | -12,000,000 | -12,000,000 | -32,000,000 | -63,000,000 | -40,000,000 | -37,000,000 | -37,000,000 | -65,000,000 | -55,000,000 | -5,000,000 | -6,000,000 | -6,000,000 | -6,000,000 | |||||||||
purchases of short term investments | -4,783,000,000 | -4,643,000,000 | -3,929,000,000 | -3,553,000,000 | -1,439,000,000 | -1,285,000,000 | -998,000,000 | -809,000,000 | -406,000,000 | -138,000,000 | -237,000,000 | -168,000,000 | -78,000,000 | -78,000,000 | -133,000,000 | -133,000,000 | -336,000,000 | -276,000,000 | -109,000,000 | -115,000,000 | -115,000,000 | -1,049,000,000 | -305,000,000 | -145,000,000 | -498,000,000 | -498,000,000 | -231,000,000 | -372,000,000 | -298,000,000 | -104,000,000 | -104,000,000 | -300,000,000 | -325,000,000 | -444,000,000 | -271,000,000 | -271,000,000 | -271,000,000 |
sales and maturities of short term investments | 4,369,000,000 | 4,228,000,000 | 3,630,000,000 | 2,361,000,000 | 1,364,000,000 | 1,179,000,000 | 900,000,000 | 802,000,000 | 201,000,000 | 265,000,000 | 111,000,000 | 71,000,000 | 78,000,000 | 141,000,000 | 78,000,000 | 78,000,000 | 312,000,000 | 153,000,000 | 134,000,000 | 90,000,000 | 90,000,000 | 1,224,000,000 | 197,000,000 | 242,000,000 | 477,000,000 | 477,000,000 | 165,000,000 | 628,000,000 | 370,000,000 | 383,000,000 | 383,000,000 | 66,000,000 | 709,000,000 | 451,000,000 | 430,000,000 | 430,000,000 | 430,000,000 |
change in restricted cash | 0 | 1,000,000 | 1,000,000 | 0 | 0 | 0 | 1,000,000 | 0 | -5,000,000 | 0 | 4,000,000 | -2,000,000 | 0 | 1,000,000 | 1,000,000 | -1,000,000 | -2,000,000 | -7,000,000 | -4,000,000 | -4,000,000 | -4,000,000 | ||||||||||||||||
dividends received | 1,000,000 | 1,000,000 | 0 | ||||||||||||||||||||||||||||||||||
net cash flows from investing activities | -438,000,000 | -404,000,000 | -314,000,000 | -1,198,000,000 | -82,000,000 | -92,000,000 | -114,000,000 | -5,000,000 | -122,000,000 | -101,000,000 | -109,000,000 | -156,000,000 | -66,000,000 | -39,000,000 | -114,000,000 | -114,000,000 | -134,000,000 | -184,000,000 | -300,000,000 | 139,000,000 | 139,000,000 | ||||||||||||||||
financing activities | |||||||||||||||||||||||||||||||||||||
proceeds from exercise of stock options | 39,000,000 | 92,000,000 | 204,000,000 | 299,000,000 | 152,000,000 | 240,000,000 | 242,000,000 | 224,000,000 | 32,000,000 | 35,000,000 | 75,000,000 | 0 | 0 | 0 | 43,000,000 | 43,000,000 | 141,000,000 | 77,000,000 | 26,000,000 | 51,000,000 | 51,000,000 | 96,000,000 | 71,000,000 | ||||||||||||||
repurchases of ordinary shares | -2,000,000 | -65,000,000 | -30,000,000 | -251,000,000 | -157,000,000 | -126,000,000 | -126,000,000 | ||||||||||||||||||||||||||||||
payments of lease liabilities | -15,000,000 | -22,000,000 | -22,000,000 | -12,000,000 | -18,000,000 | -24,000,000 | -15,000,000 | -11,000,000 | -13,000,000 | -27,000,000 | -15,000,000 | -12,000,000 | -11,000,000 | -10,000,000 | -10,000,000 | -10,000,000 | -26,000,000 | -17,000,000 | -8,000,000 | -8,000,000 | -18,000,000 | -6,000,000 | -6,000,000 | -4,000,000 | -4,000,000 | -4,000,000 | -9,000,000 | -4,000,000 | -5,000,000 | -5,000,000 | |||||||
payments for employee taxes withheld from restricted stock unit releases | -66,000,000 | -59,000,000 | -56,000,000 | -43,000,000 | -35,000,000 | -32,000,000 | -25,000,000 | -19,000,000 | -20,000,000 | -16,000,000 | -13,000,000 | -9,000,000 | -10,000,000 | -10,000,000 | -11,000,000 | -11,000,000 | -42,000,000 | -28,000,000 | |||||||||||||||||||
net cash flows from financing activities | -100,000,000 | 11,000,000 | 126,000,000 | 244,000,000 | 99,000,000 | 184,000,000 | 202,000,000 | 194,000,000 | -1,000,000 | -8,000,000 | 49,000,000 | -20,000,000 | 22,000,000 | 22,000,000 | 1,231,000,000 | 1,269,000,000 | 6,000,000 | 1,250,000,000 | 1,250,000,000 | 200,000,000 | 85,000,000 | 77,000,000 | -55,000,000 | 55,000,000 | 43,000,000 | 43,000,000 | |||||||||||
net increase in cash and cash equivalents | 291,000,000 | 316,000,000 | 351,000,000 | -71,000,000 | 732,000,000 | 584,000,000 | 299,000,000 | 586,000,000 | 7,000,000 | -192,000,000 | -90,000,000 | -38,000,000 | -97,000,000 | -97,000,000 | 1,403,000,000 | 1,222,000,000 | 21,000,000 | 1,201,000,000 | 1,201,000,000 | 99,000,000 | 73,000,000 | 207,000,000 | -116,000,000 | 207,000,000 | -58,000,000 | 62,000,000 | 62,000,000 | -205,000,000 | 551,000,000 | 68,000,000 | 266,000,000 | 266,000,000 | |||||
cash and cash equivalents at beginning of the period | 0 | 0 | 4,781,000,000 | 0 | 0 | 3,114,000,000 | 0 | 0 | 2,483,000,000 | 0 | 0 | 2,744,000,000 | 2,744,000,000 | -1,291,000,000 | 0 | 1,151,000,000 | 1,151,000,000 | 0 | 0 | 1,065,000,000 | 1,065,000,000 | -75,000,000 | 0 | 891,000,000 | 891,000,000 | -256,000,000 | 0 | 477,000,000 | 477,000,000 | 477,000,000 | |||||||
net foreign exchange losses on cash and cash equivalents | 9,000,000 | -10,000,000 | -10,000,000 | ||||||||||||||||||||||||||||||||||
cash and cash equivalents at september 30 | |||||||||||||||||||||||||||||||||||||
supplemental disclosure of cash flow information | |||||||||||||||||||||||||||||||||||||
non-cash investing and financing activities | |||||||||||||||||||||||||||||||||||||
recognition of lease right-of-use asset in exchange for lease liabilities | 0 | 63,000,000 | 18,000,000 | 9,000,000 | 3,000,000 | 0 | 13,000,000 | 0 | 5,000,000 | 2,000,000 | 15,000,000 | 6,000,000 | 2,000,000 | 12,000,000 | 6,000,000 | 9,000,000 | 2,000,000 | 12,000,000 | 12,000,000 | 27,000,000 | |||||||||||||||||
real estate assets disposed of in exchange for finance lease receivables | 3,000,000 | 3,000,000 | 3,000,000 | 5,000,000 | 10,000,000 | 1,000,000 | 46,000,000 | ||||||||||||||||||||||||||||||
repurchases of ordinary shares in trade and other liabilities | |||||||||||||||||||||||||||||||||||||
issuance of ordinary shares upon net settlement of warrants | 0 | ||||||||||||||||||||||||||||||||||||
net foreign exchange gains on cash and cash equivalents | -174,000,000 | -113,000,000 | 164,000,000 | -98,000,000 | 19,000,000 | 38,000,000 | -87,000,000 | 58,000,000 | -11,000,000 | -26,000,000 | -176,000,000 | 155,000,000 | 103,000,000 | 74,000,000 | 74,000,000 | 118,000,000 | 90,000,000 | -39,000,000 | 2,000,000 | 2,000,000 | -19,000,000 | ||||||||||||||||
cash and cash equivalents at june 30 | |||||||||||||||||||||||||||||||||||||
decrease in trade and other liabilities | -90,000,000 | -171,000,000 | -57,000,000 | -103,000,000 | -67,000,000 | ||||||||||||||||||||||||||||||||
cash and cash equivalents at march 31 | 5,019,000,000 | 3,451,000,000 | 2,443,000,000 | 2,721,000,000 | 2,442,000,000 | 951,000,000 | 951,000,000 | 966,000,000 | 733,000,000 | 733,000,000 | |||||||||||||||||||||||||||
excess and obsolete reserve | 0 | -2,000,000 | |||||||||||||||||||||||||||||||||||
impairment charges on real estate assets | 25,000,000 | 0 | 33,000,000 | 0 | |||||||||||||||||||||||||||||||||
write-off of content assets | -1,000,000 | 0 | |||||||||||||||||||||||||||||||||||
interest paid on lease liabilities | -9,000,000 | -9,000,000 | -9,000,000 | -9,000,000 | -10,000,000 | -10,000,000 | -13,000,000 | -14,000,000 | -13,000,000 | -13,000,000 | -13,000,000 | -37,000,000 | -24,000,000 | -13,000,000 | -11,000,000 | -11,000,000 | -42,000,000 | -13,000,000 | -15,000,000 | -15,000,000 | -15,000,000 | -12,000,000 | -16,000,000 | -9,000,000 | -4,000,000 | -4,000,000 | |||||||||||
business combinations, net of cash acquired | 0 | -107,000,000 | -114,000,000 | -85,000,000 | -85,000,000 | -59,000,000 | -42,000,000 | -59,000,000 | -59,000,000 | 0 | 0 | -137,000,000 | -137,000,000 | 0 | -295,000,000 | -36,000,000 | -288,000,000 | -288,000,000 | |||||||||||||||||||
lease incentives received | 0 | 0 | 0 | 2,000,000 | 0 | 0 | 0 | 2,000,000 | 2,000,000 | 0 | 14,000,000 | 6,000,000 | 0 | 7,000,000 | 7,000,000 | 0 | |||||||||||||||||||||
cash and cash equivalents at january 1 | |||||||||||||||||||||||||||||||||||||
cash and cash equivalents at december 31 | 733,000,000 | ||||||||||||||||||||||||||||||||||||
purchases of property and equipment in trade and other liabilities | -1,000,000 | 2,000,000 | -1,000,000 | 2,000,000 | 4,000,000 | -1,000,000 | 0 | 3,000,000 | 1,000,000 | 0 | 6,000,000 | 16,000,000 | 12,000,000 | -5,000,000 | 13,000,000 | 13,000,000 | 25,000,000 | ||||||||||||||||||||
employee taxes withheld from restricted stock unit releases in trade and other liabilities | 0 | -1,000,000 | 1,000,000 | 2,000,000 | 1,000,000 | -1,000,000 | |||||||||||||||||||||||||||||||
net loss | -70,000,000 | 442,000,000 | -169,000,000 | -169,000,000 | |||||||||||||||||||||||||||||||||
adjustments to reconcile net loss to net cash flows | |||||||||||||||||||||||||||||||||||||
increase in trade receivables and other assets | -97,000,000 | -69,000,000 | -143,000,000 | -76,000,000 | -14,000,000 | -59,000,000 | |||||||||||||||||||||||||||||||
sales of long term investments | |||||||||||||||||||||||||||||||||||||
proceeds from issuance of warrants | 0 | 0 | |||||||||||||||||||||||||||||||||||
proceeds from issuance of exchangeable notes, net of costs | 0 | 1,223,000,000 | 1,223,000,000 | ||||||||||||||||||||||||||||||||||
deferred consideration liability recognized in conjunction with business combination | 0 | 0 | 32,000,000 | 32,000,000 | |||||||||||||||||||||||||||||||||
decrease in provisions | -1,000,000 | -1,000,000 | -1,000,000 | ||||||||||||||||||||||||||||||||||
cash and cash equivalents at september 30* | |||||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | -14,000,000 | ||||||||||||||||||||||||||||||||||||
net cash flows (used in)/from financing activities | -21,000,000 | 109,000,000 | -98,000,000 | ||||||||||||||||||||||||||||||||||
issuance of shares upon exercise of, or effective net settlement of, warrants | |||||||||||||||||||||||||||||||||||||
proceeds from sale of long term investment | |||||||||||||||||||||||||||||||||||||
net cash flows (used in)/from investing activities | -156,000,000 | -106,000,000 | -7,000,000 | -49,000,000 | -49,000,000 | ||||||||||||||||||||||||||||||||
cash and cash equivalents at period end | 2,721,000,000 | 2,442,000,000 | 966,000,000 | ||||||||||||||||||||||||||||||||||
proceeds from exercise of warrants | |||||||||||||||||||||||||||||||||||||
issuance of shares upon effective net settlement of warrants | |||||||||||||||||||||||||||||||||||||
share-based payments expense | 48,000,000 | 46,000,000 | 50,000,000 | 37,000,000 | 37,000,000 | 28,000,000 | 57,000,000 | 37,000,000 | 26,000,000 | 26,000,000 | 23,000,000 | 42,000,000 | 23,000,000 | 18,000,000 | 18,000,000 | 18,000,000 | |||||||||||||||||||||
net exchange gains on cash and cash equivalents | 90,000,000 | 13,000,000 | |||||||||||||||||||||||||||||||||||
proceeds from the issuance of warrants | |||||||||||||||||||||||||||||||||||||
proceeds from the exercise of warrants | |||||||||||||||||||||||||||||||||||||
cash and cash equivalents at december 31, | |||||||||||||||||||||||||||||||||||||
lease right-of-use assets obtained in exchange for lease liabilities | 22,000,000 | ||||||||||||||||||||||||||||||||||||
purchases of property and equipment in trade and other payables | 4,000,000 | 4,000,000 | |||||||||||||||||||||||||||||||||||
issuance of shares upon exchange of convertible notes | 0 | ||||||||||||||||||||||||||||||||||||
proceeds from exercise of share options | 77,000,000 | 77,000,000 | 20,000,000 | 33,000,000 | 33,000,000 | 17,000,000 | 89,000,000 | 57,000,000 | 39,000,000 | 39,000,000 | 39,000,000 | ||||||||||||||||||||||||||
income tax benefit | -27,000,000 | ||||||||||||||||||||||||||||||||||||
repurchases of ordinary shares in trade and other payables | |||||||||||||||||||||||||||||||||||||
(decrease)/increase in provisions | -3,000,000 | ||||||||||||||||||||||||||||||||||||
net cash flows used in investing activities | -184,000,000 | ||||||||||||||||||||||||||||||||||||
net cash flows from/(used in) financing activities | 77,000,000 | ||||||||||||||||||||||||||||||||||||
net foreign exchange (losses)/gains on cash and cash equivalents | |||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income/(loss) to net cash flows | |||||||||||||||||||||||||||||||||||||
income tax expense/ | 40,000,000 | ||||||||||||||||||||||||||||||||||||
(decrease)/increase in trade and other liabilities | -63,000,000 | ||||||||||||||||||||||||||||||||||||
(decrease)/increase in deferred revenue | -4,000,000 | ||||||||||||||||||||||||||||||||||||
net (decrease)/increase in cash and cash equivalents | -116,000,000 | ||||||||||||||||||||||||||||||||||||
net cash flow from financing activities | 43,000,000 | ||||||||||||||||||||||||||||||||||||
income tax received | |||||||||||||||||||||||||||||||||||||
issuance of shares for business combinations | |||||||||||||||||||||||||||||||||||||
issuance of shares upon exercise of, or net settlement of, warrants | |||||||||||||||||||||||||||||||||||||
issuance of shares in exchange for long term investment | |||||||||||||||||||||||||||||||||||||
net foreign exchange gains/(losses) on cash and cash equivalents | 13,000,000 | ||||||||||||||||||||||||||||||||||||
depreciation of property and equipment | 17,000,000 | 4,000,000 | 13,000,000 | 4,000,000 | 9,000,000 | 9,000,000 | 9,000,000 | ||||||||||||||||||||||||||||||
net cash flow (used in)/from financing activities | -98,000,000 | ||||||||||||||||||||||||||||||||||||
(increase)/decrease in trade receivables and other assets | |||||||||||||||||||||||||||||||||||||
increase/(decrease) in provisions | |||||||||||||||||||||||||||||||||||||
share in losses of associate | 0 | ||||||||||||||||||||||||||||||||||||
purchases of treasury shares | |||||||||||||||||||||||||||||||||||||
users | |||||||||||||||||||||||||||||||||||||
total monthly active users | |||||||||||||||||||||||||||||||||||||
premium subscribers | |||||||||||||||||||||||||||||||||||||
ad-supported maus | |||||||||||||||||||||||||||||||||||||
financials | |||||||||||||||||||||||||||||||||||||
premium | |||||||||||||||||||||||||||||||||||||
ad-supported | |||||||||||||||||||||||||||||||||||||
total revenue | |||||||||||||||||||||||||||||||||||||
gross profit | |||||||||||||||||||||||||||||||||||||
gross margin | |||||||||||||||||||||||||||||||||||||
operating (loss)/lncome | |||||||||||||||||||||||||||||||||||||
operating margin | |||||||||||||||||||||||||||||||||||||
free cash flow1 | |||||||||||||||||||||||||||||||||||||
1 | |||||||||||||||||||||||||||||||||||||
proceeds from issuance of convertible notes, net of costs | |||||||||||||||||||||||||||||||||||||
proceeds from the issuance of ordinary shares | 0 | 4,000,000 | 4,000,000 | ||||||||||||||||||||||||||||||||||
income tax (benefit)/expense | |||||||||||||||||||||||||||||||||||||
share in losses/(earnings) of associate | |||||||||||||||||||||||||||||||||||||
income tax (paid)/received | |||||||||||||||||||||||||||||||||||||
net cash flows from/(used in) investing activities | |||||||||||||||||||||||||||||||||||||
share in earnings of associate | |||||||||||||||||||||||||||||||||||||
net income tax received | |||||||||||||||||||||||||||||||||||||
transaction fees for long term investment | 0 | -9,000,000 | -9,000,000 | -9,000,000 | |||||||||||||||||||||||||||||||||
proceeds from issuance of ordinary shares | 4,000,000 | ||||||||||||||||||||||||||||||||||||
net exchange losses on cash and cash equivalents | -10,000,000 | ||||||||||||||||||||||||||||||||||||
decrease/(increase) in trade receivables and other assets | 15,000,000 | ||||||||||||||||||||||||||||||||||||
impairment loss on trade receivables | 3,000,000 | 3,000,000 | 3,000,000 | ||||||||||||||||||||||||||||||||||
gain on disposal of equipment | -1,000,000 | -1,000,000 | |||||||||||||||||||||||||||||||||||
net foreign exchange gains | -1,000,000 | -1,000,000 | -1,000,000 | ||||||||||||||||||||||||||||||||||
proceeds from sales of equipment | 1,000,000 | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||||
purchases of intangibles | -2,000,000 | -2,000,000 | -2,000,000 | ||||||||||||||||||||||||||||||||||
finance lease payments | |||||||||||||||||||||||||||||||||||||
non-cash investing activities | |||||||||||||||||||||||||||||||||||||
loss on disposal of equipment | -1,000,000 | ||||||||||||||||||||||||||||||||||||
net income tax paid | -6,000,000 | ||||||||||||||||||||||||||||||||||||
income tax (benefit) expense | -11,000,000 | ||||||||||||||||||||||||||||||||||||
net cash flows from (used in) investing activities | 139,000,000 | ||||||||||||||||||||||||||||||||||||
net increase/(decrease) in cash and cash equivalents | 266,000,000 |