Results of TNC Kazchrome OJSC (Kazakhstan) in 2000

/KASE, May 8, 01/ - TNC Kazchrome OJSC (Almaty, production of ferrous metals, extraction and concentration of ores for ferrous metallurgy) 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) 7,903,485 7,903,485 0.0 Shareholders' equity 32,175,435 36,763,040 +14.3 Total assets 39,951,858 47,245,775 +18.3 Net working capital 4,811,702 5,155,757 +7.2 Accounts receivable 5,645,824 4,469,706 -20.8 Accounts payable 7,213,888 9,111,626 +26.3 Sales (services offered) 34,112,605 47,929,954 +40.5 Cost of goods sold 24,554,972 30,487,588 +24.2 Net income (loss) of the period 14,712,767 3,525,569 -76.0 ---------------------------------- ---------- ---------- ------- Calculated based on issuer's data: ---------------------------------- ---------- ---------- ------- Return on sale (ROS), % 28.02 36.39 +29.9 Return on equity (ROE), % 45.73 9.59 -79.0 Return on assets (ROA), % 36.83 7.46 -79.7 Earnings per share (EPS), KZT 2,047.88 493.26 -75.9 Price earning ratio (P/E) 0.37 0.57 +54.4 Book value of share, KZT 4,071.04 4,651.50 +14.3 ------------------------------------------------------------------- Earnings per share (EPS) for the year 2000 are given without dividends to preferred shares, which have not been set yet. Compared to 1999: - shareholders' equity of the company increased by KZT4.6 bln, or 14.3% (due to an increase in final amount of undistributed income by KZT4.9 bln, reserve capital - by KZT2.1 mln with KZT347.4 bln decrease in fixed assets re-evaluation fund); - assets grew by KZT7.2 bln, or 18.3% (growth in fixed assets - by KZT6.1 bln); - liabilities rose by KZT7.2 bln, or 18.3% (including, a KZT1.9 bln increase in accounts payable and KZT808.6 mln in bank loans); - sales increased by KZT13.8 bln, or 40.5%, cost of goods sold - by KZT5.9 bln, or 24.2%; expenses of the period increased by KZT8.1 bln, or 3.4 times. Net income, received by TNC Kazchrome OJSC in 2000, equaled KZT3.5 bln, which is by KZT11.2 bln, or 76.0% less than in 1999. Following is the table that shows the dynamics of TNC Kazchrome OJSC indicators during the year 2000 on a quarterly and non-accruing sum basis (in mln KZT unless otherwise specified): Indicator I-2000 II-2000 Ch., % III-2000 Ch., % IV-2000 Ch., % ---------- -------- -------- ------ -------- ------ -------- ------ Sales 10,460.9 11,558.7 +10.5 14,040.0 +21.5 11,870.4 -15.5 Net income 1,491.4 1,950.5 +30.8 -1,138.6 -158.4 1,222.2 +207.3 -------------------------------------------------------------------------- Common (KZ1C04180427, trade code - KZCR) and preferred (KZ1P04180422, trade code - KZCRp) shares of TNC Kazchrome OJSC were admitted into the additional list of the KASE on October 16, 1997. From July 14, 98 they were moved to official list under category "B", where they are still there. On May 8, 2001 market capitalization of TNC Kazchrome OJSC was estimated at $54.2 mln at the KASE. TNC Kazchrome OJSC incorporates: branch - Aksu ferroalloy plant (production of ferrochromium, ferrosilicon, ferrosilicochromium, ferrosilicomanganese, ferromanganese) and subsidiaries - Ferrochome (production of high-, middle-, and low-carbon content ferrochromium, ferrosilicochromium) and Donskoi GOK (production and concentration of chromium ore for Ferrocrhome OJSC and Aksu plant).