Results of OJSC "Corporation Kazakhmys" (Kazakhstan) in 9 months of 1999

/KASE, Apr.21, 00, Galina Chudinova, Galina Tsalyuk/ - According to listing requirements, OJSC "Corporation Kazakhmys" (Jezkazgan, official list of securities, category "B") provided Kazakhstan Stock Exchange (KASE) with its financial statements for 9 months of 1999: balance sheet, income statement, and cash flow statement. Following are the results of the issuer in 9 months of 1999 (in th. KZT): As of As of Ratio Oct. 1 '98 Oct. 1 '99 Change, % ------------------------ ----------- ----------- --------- Authorized capital (nominal value) 98,231 98,231 0 Shareholders' equity 37,750,740 30,667,438 -18.8 Total assets 78,906,248 81,227,431 +2.9 Net working capital -13,119,001 -18,170,145 -38.5 Accounts receivable (net) 15,821,513 16,557,211 +4.6 Accounts payable 24,222,719 24,891,217 +2.8 Sales (services offered) 38,047,063 50,282,788 +32.2 Cost of goods sold (services offered) 28,348,778 27,158,200 -4.2 Net income (loss) 186,765 983,381 +426.5 ------------------------ ----------- ----------- --------- Compared to similar period of 1998: - shareholders' equity fell by KZT7.08 bln, or 18.8% (including: total of undistributed income - by KZT7.00 bln, additional unpaid capital - by KZT81.59 mln); - assets rose by KZT2.32 bln, or 2.9%; liabilities - by KZT9.40 bln, or 22.9%. Sales grew by KZT12.24 bln, or 32.2% relative to nine months of 1998, whereas cost of goods sold fell by KZT1.19 bln, or 4.2%. Expenses of the period grew KZT3.56 bln, or 44.5%. As a result, net income received during reporting period grew 5.3 times, at KZT983.38 mln, that is by KZT796.62 mln more than during similar period of 1998. Dynamics of some indicators of OJSC "Corporation Kazakhmys" are shown in the next table on quarterly non-accruing basis (in mln KZT): Indicator I-99 II-99 Change, % III-99 Change, % ---------- --------- --------- --------- --------- --------- Sales 12,596.58 16,207.00 +28.7 21,479.20 +32.5 Net income -175.05 -3,206.80 -1,731.9 4,365.23 +236.1 ---------- --------- --------- --------- --------- ---------