Results of Mangistaumunaigaz OJSC (Kazakhstan) activity for 2001

/KASE, August 09, 02/ - Mangistaumunaigaz OJSC (Aktau), whose stocks are traded under category "B" of the official listing provided KASE with financial report for 2001: balance sheet and income statement. The following indicators are results of the company's economic activity for 2001, based upon the company's data (in th. KZT, unless otherwise specified): ------------------------------------------------------------------------------- As of As of Indicator Jan 01,01 Jan 01,02 Change, % ------------------------------------------ ----------- ----------- --------- Authorized capital (paid) 10,892,027 10,892,027 0 Shareholders' equity 24,144,550 31,366,683 +299.1 Total assets 76,661,087 82,020,981 +69.9 Net working capital -4,272,990 -2,316,621 -457.8 Accounts receivable, net 33,469,743 30,499,345 -88.7 Total liabilities 52,516,537 50,654,298 -35.5 Accounts payable 40,863,975 43,344,705 +60.7 Sales volume 106,193,223 108,366,346 +20.5 Cost of goods sold 31,275,487 57,604,415 +841.8 Net income (loss) for the period 18,324,116 6,663,875 -636.3 ------------------------------------------ ----------- ----------- --------- By financial statements it was calculated: ------------------------------------------ ----------- ----------- --------- Return on sales (ROS), % 70.55 46.84 -336.0 Return on equity (ROE), % 75.89 21.25 -720.1 Return on assets (ROA), % 23.90 8.12 -660.1 Earnings per share (EPS), tenge 1,857.71 679.63 -634.2 Book value of 1 share, tenge 2,216.72 2,879.78 +299.1 ------------------------------------------------------------------------------- Earnings per share for 2001 were calculated without dividends on preferred stocks, which will be determined at the General shareholders' meeting of the bank. Relative to 2000 the following changes occur: - shareholders' equity of the company grew by KZT7.2bn as a result of increase of total sum of undistributed income - by KZT6.7bn, reserve capital - by 891.1m having a decrease of additionally not paid capital(re- evaluation of fixed assets) - by 341.6m; - assets increased by KZT5.3bn, including: depreciated cost of fixed assets - by 4.4bn, inventories - by KZT2.0bn, other assets - by KZT1.9bn with a decrease of accounts receivable - by 3.0bn; - liabilities decreased by KZT1.9bn including: volume of formed reserves - by KZT4.3bn with a rise of total sum of accounts payable by 2.4bn; - sales volume grew by KZT2.2bn; - cost of goods sold increased by KZT26.3bn; - expenses reduced by KZT17bn (by 32.1%); - revenues from not principal activity decreased by 5.1bn tenge (by 91.4%). Net income of Mangistaumunaigaz OJSC by results of 2001 totaled 6.7bn tenge, which is 11.7bn or 2.7 times less than in 2000. The following is a table that shows dynamics of some indicators of Mangistaumunaigaz OJSC in 2001 in quarters and not cumulative result (in m KZT): --------------------------------------------------------------------------- Change, % Change, % Change, % Indicator I-2001 II-2001 III-2001 III-2001 ------------ ------ ------- --------- -------- --------- -------- --------- Sales volume 27,214 29,305 +7.7 28,574 -2.5 23,274 -18.5 Net income 8,718 -2,700 -131.0 6,017 +322.8 -5,849 -197.2 --------------------------------------------------------------------------- Principal activity of the company -extraction and shipment of oil and gas; oil processing, realization of oil and products of its processing, prospecting and development of oil and gas fields. [2002-08-09]