Results of Corporation Kazakhmys OJSC (Kazakhstan) activity for the first quarter of 2002

/KASE, July 23, 02/ - Corporation Kazakhmys OJSC (Zhezkazgan), whose shares are traded under category "A" of the official listing provided KASE with the financial statement in the first quarter of 2002: the balance sheet, income statement and cash flows statement. The following indicators are results of company's financial and economic activity in the first quarter of 2002, based upon company's information (in th. KZT, if otherwise specified): --------------------------------------------------------------- As of As of Indicator Apr 01, 01 Apr 01, 02 Change,% ------------------------------ ----------- ----------- -------- Authorized capital (paid) 2,946,920 2,946,920 - Total assets 109,311,213 138,271,765 +26.5 Stockholders' equity 72,518,956 105,147,544 +45.0 Net working capital 16,277,491 36,102,412 +121.8 Accounts receivable (net) 20,885,487 14,608,861 -30.1 Total liabilities 36,792,257 33,124,221 -10.0 Short-term loans 1,163,600 - - Accounts payable 25,674,710 24,885,456 -3.1 Sales volume 28,532,660 31,371,997 +10.0 Cost of goods sold 12,441,797 14,563,135 +17.1 Net income for the period 11,414,256 13,090,708 +14.7 Book value of one share, tenge 14,765.0 21,408.3 +45.0 --------------------------------------------------------------- Relative to the corresponding period of 2000 the following changes occurred: - Shareholders' equity of the company increased by KZT32.6bn as the result of the increase of total sum of undistributed income; - assets increased by KZT29.0bn including cash - by KZT22.0bn, volume of construction in progress - by KZT8.8bn, residual value of fixed assets - by KZT3.7bn and other assets - by KZT703.7m with the decrease of accounts receivable by KZT6.3bn; - liabilities decreased by KZT3.7bn as a result of short-term loans settlement by KZT1.2bn, decrease of accrued expenses by KZT1.7bn and other liabilities by - KZT770.0m; - sales volume increased by - KZT2.8bn; - cost of goods sold increased by KZT2.1bn. - expenses of the period increased by KZT721.7m. By the activity results for the first quarter of 2002 the net income of Corporation Kazakhmys OJSC increased by KZT1.7bn in comparison with the same period of 2001. The main activities are as follows: extraction and processing of minerals, production of cathode copper, production, transfer and distribution of electric and heat power; research and development, projects development, experimental development works; industrial and civil construction; cargo and passenger shipping. [2002-07-23]