Results of activity of Mangistaumunaigas OJSC (Kazakhstan) for the I quarter of 2003

/KASE, July 18, 03/ - Mangistaumunaigas OJSC (Aktau), whose shares are circulating in Kazakhstan stock exchange's (KASE) official "B" listing category, provided KASE with the financial statement for the I quarter of 2003. The following indicators are results of the issuer's financial and economic activity for the I quarter of 2003, based upon the issuer's information (in th. KZT, unless other wise specified): -------------------------------------------------------------------------------- As of As of Indicator Apr 1, 02 Apr 1, 03 Change,% --------------------------------------------- ---------- ----------- -------- Authorized capital (paid excluding withdrawn) 10,892,027 10,892,027 0.0 Shareholders' equity 33,410,357 46,126,331 +38.1 Total assets 85,613,250 107,957,901 +26.1 Net working capital -941,236 2,847,760 - Accounts receivable (net) 33,095,762 46,606,804 +40.8 Liabilities, total 52,202,893 61,831,570 +18.4 Accounts payable 44,625,513 52,499,373 +17.6 Sales volume 21,980,851 43,077,636 +96.0 Cost of goods sold 11,293,778 21,403,416 +89.5 Net income 2,043,674 5,603,603 +174.2 Book value of one share, KZT 3,067.41 4,234.87 +38.1 -------------------------------------------------------------------------------- Relative to similar period of 2002 there is increase of: - shareholders' equity - by KZT12.7 bn as a result of increase of total sum of undistributed income by 13.1 bn, whereas there took place decrease of additionally unpaid capital by 304.0 m and reserve capital - by 108.9 m; - assets - by KZT22.3 bn that was caused by increase of accounts receivable (net) by 13.5 bn, residual value of fixed assets (including construction in progress) - by 9.2 bn and other assets - by KZT1.4 bn, whereas there took place decrease of funds - by 1.8 bn; - liabilities - by KZT9.6 bn, including: accounts payable - by 7.9 bn and other liabilities - by 1.7 bn; - sales volume - by KZT21.1 bn; - cost of goods sold - by KZT10.1 bn; Net income, which Mangistaumunaigas OJSC received in the I quarter of 2003, exceeded net income of similar period of 2002 by KZT3.6 bn. Company's primary activities: oil and gas production and transportation; petroleum refining, sale of oil and products of its refinery; exploration and development of oil and gas fields. [2003-07-18]