Preliminary results of UKTMK OJSC (Kazakhstan) in 2001

/KASE, Jan 31, 02/ - UKTMK OJSC (Oskemen) provided the KASE with its preliminary financial statements for 2001: balance sheet and income statement. By the data of the issuer following are the results of the company in 2001 (in th. KZT): -------------------------------------------------------------------- As of As of Change, Ratio Jan 1 '01 Jan 1 '02 % ------------------------------------ --------- ---------- ------- Authorized capital 21,582 21,582 0 Shareholders' equity 5,838,517 6,640,609 +13.7 Total assets 6,733,156 7,559,754 +12.3 Net working capital 1,648,496 2,357,231 +43.0 Accounts receivable 263,380 915,895 +247.7 Accounts payable 770,504 865,777 +12.4 Sales 5,538,777 9,662,774 +74.5 Cost of goods sold 4,567,581 7,677,114 +68.1 Net income 235,177 847,896 +260.5 ------------------------------------ --------- ---------- ------- Calculated by data of issuer: ------------------------------------ --------- ---------- ------- Return on sales (ROS), % 17.53 20.55 +17.2 Return on equity (ROE), % 4.03 12.77 +217.0 Return on assets (ROA), % 3.49 11.22 +221.1 Earnings per common share (EPS), KZT 238.20 873.05 - Price earnings ratio (P/E) - 5.86 - Book value of a share, KZT 5,410.54 6,153.84 +13.7 -------------------------------------------------------------------- Earnings per common share (EPS) and price earnings ratio (P/E) for 2001 are given without dividends to preferred shares, which have not been set yet. Compared to similar period of 2000 growth took place in: - shareholders' equity of the company - by KZT802.1m as a result of an increase in final amount of undistributed income; - assets - by KZT824.6m, including: accounts receivable - by KZT652.5m, residual value of fixed assets - by KZT91.6m, cash - by KZT72.8m and other assets - by KZT9.8m; - liabilities - by KZT24.5m, as a result of increase in accounts payable - by KZT95.3m, reserves for future payments - by KZT7.3m with a decrease in volume of attracted loans by KZT78.0m; - sales - by KZT4.1bn; - cost of goods sold - by KZT3.1bn; - expenses of the period - by KZT186.4m or 35.7%. Net income of UKTMK OJSC, reflected in preliminary financial statements, equaled KZT847.9m in 2001, which is KZT612.7m or 3.6 times more than in last year. The following table represents dynamics of some parameters of UKTMK OJSC for year 2001 on a quarterly and non-cumulative sum basis (in m KZT): -------------------------------------------------------------------------- Change, Change, Change, Ratio I-2001 II-2001 % III-2001 % IV-2001 % ---------- ------- ------- ------- -------- ------- ------- ------- Sales 2,331.3 2,436.1 +4.5 2,470.7 +1.4 1,914.1 -1.9 Net income 196.9 261.2 +32.7 272.8 +4.4 92.8 -57.1 -------------------------------------------------------------------------- Common (KZ1P05502017, trade code - UTMK) and preferred (KZ1P05502012, trade code - UTMKp) shares of UKTMK OJSC are in official list of the KASE Securities under category "A" from October 16, 1997. Primary activities: production and sale of non-ferrous metals (high quality titanium sponge, commodity magnesium).