HeadHunter Group PLC (NASDAQ:HHR) Q2 2020 Earnings Conference Call - Final Transcript
Aug 27, 2020 • 09:00 am ET
this year, compared to RUB80 million last year, mostly driven by cut or postponement of our capital expenditures. Net cash used in financing activities was RUB572 million, compared to RUB112 million in the second quarter last year, and this increase was kind of timing due to the shift of the regular loan repayment to VTB Bank from the first quarter 2020 to the second quarter 2020 because, as you know, in the end of March, the period of non-working days was announced.
Our net debt as of June 30, 2020, decreased compared to the last year number, mostly due to cash generated from operating activities. As a result, leverage has decreased from 0.8 to 0.6. Also, I think worth mentioning that earlier this week, we announced our entry into a new credit facility agreement with VTB Bank. This new agreement extends ultimate maturity of our debt to June 2025 as well as temporarily relaxes some business performance covenants to account for COVID-19 impact on our business. Interest rate on the new agreement was the same as on the existing one.
Finally, due to the recent improvement in our key financial metrics, we expect to pay the previously deferred 2019 dividend of $0.50 per share, on or before September 10, 2020. Please note that the previously announced dividend record date of March 27, 2020 will remain unchanged.
Thank you very much, and we're now opening the floor for your questions.