Results of Corporation Kazakhmys OJSC (Kazakhstan) in 2000

/KASE, May 7, 01/ - Corporation Kazakhmys OJSC (Jezkazgan, extraction and processing of minerals, production of cathode copper; generation, transmission and distribution of both electrical and thermal energy; scientific - research, design works; industrial and civil construction; cargo and passenger transportation) provided the KASE with its financial statements for 2000: balance sheet, income and cash flows statements. By the data of the issuer following are the results of the company in 2000 (in th. KZT unless otherwise specified): --------------------------------------------------------------------- As of As of Change, Ratio Jan.1 '00 Jan.1 '01 % ---------------------------------- ----------- ----------- ------- Authorized capital (paid) 98,231 98,231 0 Total assets 90,448,664 102,597,853 +13.4 Shareholders' equity 32,673,397 61,104,700 +87.0 Net working capital -18,154,031 5,063,032 +127.9 Accounts receivable 22,086,239 11,381,203 -48.5 Accounts payable 30,544,304 35,820,271 +17.3 Sales (services offered) 74,479,467 112,699,401 +51.3 Cost of goods sold 39,616,491 47,093,088 +18.9 Net income (loss) of the period 4,554,772 32,528,451 +614.2 ---------------------------------- ----------- ----------- ------- Calculated based on issuer's data: ---------------------------------- ----------- ----------- ------- Return on sale (ROS), % 46.8 58.2 +24.4 Return on equity (ROE), % 13.9 53.2 +,281.9 Return on assets (ROA), % 5.0 31.7 +530.0 Earnings per share (EPS), KZT 869.18 7,358.75 +746.6 Price earning ratio (P/E) 1.5 0.57 -61.9 Book value of share, KZT 6,652.38 12,627.32 +87.0 --------------------------------------------------------------------- Earnings per share (EPS) for the year 2000 are given without dividends to preferred shares, which have not ben set yet. Compared to 1999: - shareholders' equity of the company increased by KZT28.4 bln, or 87.0% (final amount of undistributed income increased by KZT31.2 bln, reserve capital - by KZT432.2 mln with KZT3.2 bln decrease in fixed assets re- evaluation fund); - assets grew by KZT12.1 bln (including: fixed assets - by KZT5.4 bln, inventory - by KZT3.1 bln, cash - by KZT14.3 bln, incomplete capital construction - by KZT601.4 mln with a KZT10.7 bln decrease in accounts receivable and KZT672.3 mln in other assets); - liabilities declined by KZT16.4 bln (as a result of a decline in short-term loans attracted by KZT22.6 bln and a KZT5.3 bln increse in accounts payable and KZT921.3 mln in other liabilities); - sales increased by KZT38.2 bln, cost of goods sold - by KZT7.5 bln; - expenses of the period increased by KZT2.2 bln (including, general and administrative expenses - by KZT3.6 bln, sales expenses - by KZT815.9 mln, with the decrease in loan interest expenses by KZT2.2 bln); - income from secondary activities equaled KZT3.7 bln against KZT9.2 bln of losses incurred in 1999. Net income, received by the company in 2000, grew by KZT28.0 bln, or 7.1 times relative to 1999, at KZT32.5 bln. Following is the table that shows the dynamics of Corporation Kazakhmys OJSC indicators during the year 2000 on a quarterly and non-accruing sum basis (in mln KZT unless otherwise specified): Ch., % Ch., % Ch., % Indicator I-2000 II-2000 III-2000 IV-2000 ---------- --------- -------- ------- -------- ------- -------- ------- Sales 29,367.0 28,806.4 -1.9 25,666.9 -10.9 28,859.1 +12.4 Net income 11,082.,3 8,952.4 -19.2 7,478.1 -16.5 5,015.6 -32.9 ------------------------------------------------------------------------------ Common (KZ1C04930912, trade code - KZMS) and preferred (KZ1P04930917, trade code - KZMSp) shares of Corporation Kazakhmys OJSC were admitted into the official list of the KASE under category "B" on December 2, 1998 (from May 13, 98 through Dec 1, 98 they had been traded on non-listed floor). On May 6, 2001 market capitalization of Coporation Kazakhmys OJSC was estimated at $55.2 mln at the KASE.