/KASE, March 4, 10/ - KAZAKHMYS PLC (London), listing on Kazakhstan Stock
Exchange (KASE), issued a press release:
Quotation begins
The Kazakhmys Group (Kazakhmys PLC) released its operation and financial
results for Y2009. The statement excludes the contribution from ENRC PLC, in
which Kazakhmys has a 26% shareholding. A further announcement including
this contribution will be released on 30 March 2010.
EBITDA from managed businesses reached USD1,211 m, reducing 26 % against
the previous year. The reduction reflected lowed copper prices, however, was
partially offset by lower costs and improved efficiencies. Higher by-product
prices in H2 2009 allowed for keeping copper production costs at low levels.
Net debt reduced from USD1,628 m as on December 31, 2008 to USD689 m as
on December 31, 2009. Operation revenue allowed for reduction of net debt. The
Group received USD681 m from sale of a-50 % share in Ekibastuz GRES-1.
The Group outperformed its metal and mining production plan. In particular, the
group produced 320 th tones of copper cathode equivalent as against the
planned 300 th tones. Kazakhmys Copper produced 9 % more gold and zinc as
against the previous year, with silver output at the same level.
At the end of 2009 the group came to an agreement to raise USD2.7 bn for
financing of Bozshakol and Bozymchak mining projects, and other projects. The
Bozshakol project is going to complete feasibility study in 2010. The Bozymshak
project is in development with the first production in the end of 2010.
The Group is considering financing of Aktogay project.
In 2009 Kazakhmys was noted as the Company of the Year among "blue chips"
of FTSE-100, demonstrating a-475 % growth on recovering copper prices up to
1328 pences as on December 31, 2009. The Group successfully faced the
challenges and decided to resume pay dividend in the amount of USD48 m
(USD9.0 cents a share).
In 2009 Kazakhmys took steps to increase Kazakhstan content in procurement of
goods and services. The Group jointly with the Kazakhstan Ministry of Industry
and Trade and Karaganda Akimat held the First forum of Kazakhstan producers
and take an active part in the second forum, which resulted in signing protocols
and contacts with Kazakhstan-based businesses. Besides, amidst the credit
market deficit the Group supported a number of domestic companies paying for
future supplies in advance.
Kazakhmys is socially responsible. The Group kept funds and remained
profitable, which allowed for keeping jobs in the Group, thus protecting
employees and the production processes. The Group spent USD88 m for social
protection. Kazakhmys is providing 61,000 jobs in Kazakhstan, and is a largest
taxpayer financing over 150 social-oriented projects.
Oleg Novachuk, Chief Executive of Kazakhmys PLC, said: "Against the
challenging backdrop for 2009, the Group produced an outstanding performance,
and ended the year in a far stronger position than it started. The management
team controlled the cost base well, protected cash and enhanced operational
efficiency. The completion of the Ekibastuz power joint venture has strengthened
our balance sheet and, combined with the recent arrangement of our USD2.7
billion loan facility, we have flexibility and confidence to deliver our growth
projects and develop our business. We believe we have many opportunities and
we approach 2010 with enthusiasm."
Contact:
Kazakhmys PLC:
John Smelt Corporate Relations Tel: +44 20 7901 7882
Tel:+44 78 7964 2675
Irene Burton Financial Analyst Tel: +44 20 7901 7814
Zulfira Mukhamediarova Senior Manager - Media Relations Tel: +77 27 266 3317
Merlin
David Simonson Tel: +44 20 7726 8400
Tom Randell Tel: +44 20 7726 8400
Leonid Fink Tel: +44 20 7726 8400
Ends
The full version of the press release in English is available at the KASE
website at
http://www.kase.kz/files/emitters/GB_KZMS/gbkzms_reliz_040310_eng.pdf
[2010-03-04]