Results of DAGOK Kustanayasbest OJSC activity for 2001

/KASE, June 6, 02/ - DAGOK Kustanayasbest OJSC (Zhetikara, Kostanay oblast), whose bonds are traded in stock exchange's category "A" of the official listing provided KASE with financial report for 2001: balance sheet, income statement and statement of cash flows. The following indicators are results of company's economic activity for 2001, based upon preliminary issuer's data (in th. KZT unless otherwise specified): ----------------------------------------------------------------- As of As of Trend, Indicator Jan 1,01 Jan 1,02 % ----------------------------------- --------- --------- ------ Authorized capital (paid) 460,000 460,000 0 Shareholders' equity 1,384,628 1,500,229 +8.3 Total assets 4,444,596 4,964,437 +11.7 Working capital -85,309 735,691 +962.4 Accounts receivable 1,498,773 1,830,564 +22.1 Total liabilities (including bonds) 3,059,968 3,464,208 +13.2 Attracted credits 942,945 728,115 -22.8 Accounts payable 2,045,243 1,752,904 -14.3 Sales volume 2,858,150 3,171,790 +11.0 Cost of goods sold 1,906,216 2,649,725 +39.0 Net income 159,064 (232,123) -245.9 ----------------------------------- --------- --------- ------ Calculated ratios: ----------------------------------------------------------------- Return on sales (ROS), % 33.31 16.46 -50.6 Return on equity (ROE), % 11.49 - - Return on assets (ROA), % 3.58 - - ----------------------------------------------------------------- Relative to 2000 there was an increase of: - stockholders' equity of the company - by KZT115.6m as a result of growth in additionally unpaid capital by KZT240.7m which was partly covered by the growth of unsettled loss of KZT125.1m; - assets - by KZT519.8m including: book value of fixed assets - by KZT113.9m, construction in progress - 134.6m (2.8 times), accounts receivable - 331.8m having the decrease in other assets of 60.5m; - liabilities - by KZT404.2bn that was caused by floatation of bonds amounted to 868.5m and increase of other liabilities by 36.4m having a decrease of volumes of attracted credits by 214.8m and accounts payable - by 285.9m; - sales volume - by KZT313.6m; - cost of goods sold - by KZT743.5m; - expenses - by 206.0m. The economic activity of DAGOK Kustanayasbest OJSC in 2001 resulted in a loss of KZT232.1m which was, as company reported, caused by significant growth of production expenditures, induced by the need to increase volumes of removing the overburden (removing and transportation of rocks). In the table below there is a dynamics of some DAGOK Kustanayasbest OJSC indicators for 2001 quarterly with non-cumulative results (in m of KZT): ---------------------------------------------------------------------------- Change, Change, Change, Indicator I-2001 II-2001 % III-2001 % IV-2001 % ------------ ------ ------- ------- -------- -------- ------- ------- Sales volume 724.5 802.3 +10.7 1,112.5 +38.7 532.5 -52.1 Net income -94.6 -9.4 +90.0 269.8 +2,965.2 -397.9 -247.5 ---------------------------------------------------------------------------- Major types of company's activity: extraction and enrichment of chrysotile- asbestos and production on this basis of marketable asbestos and accompanied construction materials. [2002-06-06]