Results of OJSC "TNC "Kazchrome" (Kazakhstan) in 1999

/KASE, May 6, 00, Galina Chudinova, Galina Tsalyuk/ - According to listing requirements, OJSC "TNC "Kazchrome" (Almaty, official list of securities, category "B") provided Kazakhstan Stock Exchange (KASE) with its consolidated financial statements for the year 1999: balance sheet and income statement. Following are the results of the company in 1999 by the data of the issuer (in th. KZT): As of As of Ratio January 1 '99 January 1 '00 Change, % ------------------------------------- ------------- ------------- --------- Authorized capital 7,903,485 7,903,485 0 Shareholders' equity 20,704,572 32,175,435 +55.4 Total assets 35,440,658 39,951,858 +12.7 Net working capital -3,065,684 6,430,557 +309.8 Accounts receivable 7,515,860 7,496,938 -0.3 Accounts payable 14,736,086 7,776,423 -47.2 Sales (services offered) 19,275,959 34,112,605 +77.0 Cost of goods sold (services offered) 15,986,936 24,554,972 +53.6 Net income (loss) (1,932,666) 14,712,767 +861.3 Calculated based on issuer's data: Return on sales (ROS), % 17.06 28.02 +64.2 Return on equity (ROE), % -9.33 45.73 +589.9 Return on assets (ROA), % -5.45 36.83 +775.3 Earnings per share (EPS), KZT - 2,058.45 - Price earnings ratio (P/E) - 0.36 - Book value of a share, KZT 2,619.68 4,071.04 +55.4 ------------------------------------- ------------- ------------- --------- Earnings per common share (EPS) and price earnings ratio for the year 1999 are shown without dividends to preferred shares, since they are not determined yet. Compared to 1998: - shareholders' equity rose by KZT11.47 bln, or 55.4% (increase in undistributed income - by KZT18.64 bln, reserve capital - by KZT7.39 mln, with the decrease in additional unpaid capital - by KZT7.17 bln); - assets grew by KZT4.51 bln, or 12.7% (including: long-term - by KZT1.97 bln, current - by KZT2.54 bln); - liabilities fell by KZT6.96 bln, or 47.2%. Sales increased by KZT14.84 bln, or 77.0% relative to 1998, cost of goods - by KZT8.57 bln, or 53.6%, expenses of the period - by KZT197.41 mln, or 5.4%. As a result, net income of OJSC "TNC "Kazchrome" by the results of 1999 equaled KZT14.71 bln against KZT1.93 bln loss in 1998.