REFERENCE: NAC Kazatomprom (Kazakhstan) - dynamics of financial indicators

04.04.02 00:00
/IRBIS based on information of the KASE Listing commission, Apr 04, 02/ - The following information is published due to the admittance of the first issue indexed inscribed coupon bonds of National atomic company Kazatomprom CJSC into official list of the Kazakhstan Stock Exchange (KASE) under category "A". NAC Kazatomprom presented to KASE the following financial reporting made in compliance with Kazakhstan accounting standards (KAS); balance sheets, income statements, cash flow statements for 1998-2000 years and also interim financial reporting for three quarters of 2001. Following are data of non-audited financial reporting (th. KZT, unless otherwise specified), presented to the KASE by the issuer. --------------------------------------------------------------------- As of As of As of As of Article Jan 1.00 Jan 1.01 Jan 1.02 Oct 1.01 ------------------------- ---------- ---------- ---------- ---------- Authorized capital (paid) 3,375,104 3,373,136 3,373,136 3,373,136 Shareholders' equity 6,651,406 8,155,133 36,511,439 35,579,184 Book value of assets 17,007,202 17,710,891 51,834,268 49,302,703 Net working capital -918,287 5,288,504 33,757,355 28,902,051 Accounts receivable 5,907,793 8,750,963 13,946,308 10,800,997 Liabilities, total 10,355,796 9,555,758 15,322,829 13,723,519 Attracted credits 4,221,420 3,770,636 6,594,082 5,663,418 Accounts payable 3,089,174 2,441,828 2,288,748 2,352,013 Sales volume 11,475,232 15,876,410 18,361,591 13,288,377 Cost of goods sold 6,501,432 4,946,886 13,559,914 10,550,156 Net income (loss) 1,431,617 1,634,148 6,895,094 2,888,919 Return on sale (ROS), % 43.34 68.84 26.15 20.61 Return on equity (ROE), % 21.52 20.04 18.88 8.12 Return on assets (ROA), % 8.42 9.23 13.30 5.86 --------------------------------------------------------------------- Audit of consolidated financial reporting of NAC Kazatomprom 1999-2000 and 9 months of 2001 was held by KPMG Janat (Almaty, Kazakhstan) in compliance with KAS. Below is data of audited financial reporting (th. KZT, unless otherwise specified). ---------------------------------------------------------- As of As of As of Article Jan 01.00 Jan 01.01 Oct 01.01 ------------------------- ---------- ---------- ---------- Authorized capital (paid) 3,373,136 3,373,136 3,373,136 Shareholders' equity 8,155,133 36,511,439 35,579,183 Book value of assets 17,710,891 51,834,334 49,302,702 Net working capital 5,071,706 34,838,595 27,100,769 Accounts receivable 4,210,482 7,926,920 2,022,458 Liabilities, total 8,141,174 11,046,673 9,805,883 Attracted credits 3,770,636 6,502,500 5,596,449 Accounts payable 1,501,120 1,527,433 2,242,281 Sales volume 15,876,410 18,361,591 13,288,377 Cost of goods sold 4,946,886 13,559,914 10,550,156 Net income (loss) 1,509,478 6,895,094 2,888,918 Return on sale (ROS), % 68.84 26.15 20.61 Return on equity (ROE), % 18.51 18.88 8.12 Return on assets (ROA), % 8.52 13.30 5.86 ---------------------------------------------------------- Based on consolidated financial statements of 1999 NAC Kazatomprom has conditional auditing report, because the auditor was not able to check the balance sheet residual amounts as of Dec 31, 1998, as well as the physical presence of inventory stocks as of Dec 31, 1999. There are minor reservations in reports of the auditor made on the basis the financial statements of the year 2000 and 9 months of 2001 which concern the value of inventory stocks that has been entered into the balance sheet as of Dec 31, 2000 and Sept 30, 2001. The auditor notes that the company did not recognize the reserves on increasing the re-evaluated cost over the net cost of sales amounting to KZT11.6bn as of Dec 31, 2000 and KZT9.1bn as of Sept 30, 2001. In the opinion of KPMG Janat, except for the corrections, mentioned above, which could be necessary because of the reservations made above, consolidated financial statements give an objective picture of NAC Kazatomprom financial condition in all essential aspects as of Dec 31, 1999 and 2000, Sept 30, 2001, as well as the results of its activities and cash flows for these periods based on KAS, resolution #1148 of the government of Kazakhstan, dated July 22, 98 "On issues of National Atomic Company "Kazatomprom" (which reads that the company conducted re-evaluation of uranium products to net cost of sales that exceeds its cost) and the letter of the Ministry of Finance of Kazakhstan regarding the re-evaluation of uranium products. [2002-04-04]