/CORRECTED/ Audited financial statements of NAC Kazatomprom for 2001

13.08.02 00:00
/KASE, August 13, 02, resent in accordance with wrong data about net working capital for 2001/ - NAC Kazatomprom (Almaty), whose bonds are circulating under stock exchange's "A" listing category, presented KASE the audit report of KPMG Janat (Kazakhstan), which had been made on the company's financial statement for 2001. According to audited financial statement the results of the company's financial and economic activity by December 31, 2001 are as follows (in th. KZT, unless otherwise indicated): ------------------------------------------------- Indicator 2000 2001 ------------------------- ---------- ---------- Authorized capital (paid) 3,373,136 3,373,136 Shareholders' equity 36,511,439 38,517,282 Total assets 51,834,334 53,712,271 Net working capital 34,838,595 29,117,191 Accounts receivable (net) 15,397,679 12,423,662 Total liabilities 11,046,673 10,923,719 Loans attracted 6,502,500 6,776,633 Accounts payable 2,993,981 2,821,013 Revenues from goods sold 18,494,270 19,953,579 Cost of goods sold 13,692,520 12,802,547 Net income 6,895,094 6,976,472 ------------------------------------------------- According to the auditor's data it's been calculated: ------------------------------------------------- Return on sales (ROS), % 25.96 35.84 Return on equity (ROE), % 18.88 18.11 Return on assets (ROA), % 13.30 12.99 ------------------------------------------------- The audit of financial statements of the company (hereinafter - the Group), prepared according Kazakhstan accounting standards, was conducted by KPMG Janat in accordance with international auditing standards. The Group's consolidated financial statement comprises financial statement of NAC Kazatomprom and the following daughter companies: UMZ OJSC (producing of uranium, tantalum and beryllium production, market share - 90.0%), Volgovgeologiya OJSC (exploration works, 90.0%). Mashzavod LLP (mechanical engineering, 90.0%), Ulba-geologiya LLP (exploration works, 54.0%). It is noted in the auditor's report that in 2001 the group did not declare reserves on exceeding of overrated value of inventories cost over net cost of realization in the amount of KZT4,181,028 th. Possible corrections could have significantly influenced the balance sheet and income statement by December 31, 2001. In accordance with the auditor, the financial statement exactly in all significant aspects reflects the Group's financial situation by December 31, 2001 and results of its financial and economic activity and cash flow for the year, which ended by the mentioned date in compliance with Kazakhstan accounting standards, excluding impact of corrections, the necessity of which could appear in accordance with overrating of inventories cost. Principal activity of the company - fulfilling of functions of the national operator on export and import of uranium its compounds, nuclear fuel for atomic power stations, special equipment and technologies, materials of double usage. [2002-08-13]