Results of activity of Mangistaumunaigas OJSC (Kazakhstan) for 9 months of 2002

/KASE, November 14, 02/ - Mangistaumunaigas OJSC (Aktau), whose shares are circulating under the stock exchange's official "B" listing category, provided KASE with the financial statement for 9 months of 2002: the balance sheet, income statement and cash flow statement. The following indicators are results of the issuer's financial and economic activity within 9 moths of 2002, based upon the issuer's information (in th. KZT, unless other wise specified): -------------------------------------------------------------- As of As of Indicator Oct 1, 01 Oct 1, 02 Change,% ------------------------------- ---------- ---------- -------- Issued authorized capital (paid 10,892,027 10,892,027 0 excluding withdrawn) Shareholders' equity 37,414,899 39,436,407 +5.4 Total assets 76,455,097 89,799,542 +17.5 Net working capital -257,051 2,395,744 +1,032.0 Accounts receivable (net) 22,741,834 37,460,835 +64.7 Liabilities, total 39,040,198 50,363,135 +29.0 Accounts payable 24,871,154 41,588,891 +67.2 Sales volume 85,092,478 81,314,069 -4.4 Cost of goods sold 42,455,580 36,057,491 -15.1 Net income 12,512,876 8,098,336 -35.3 Book value of one share, KZT 3,435.07 3,620.67 +5.4 -------------------------------------------------------------- Relative to similar period of 2001 there are following changes: - Shareholders' equity increased by KZT2.0 bn as a result of increase of total sum of undistributed income by 2.5 bn, whereas there took place of additionally unpaid capital by 371.8 m and reserve capital - by 708.9 m; - assets increased by KZT13.3 bn that was caused by increase of accounts receivable (net) by 14.7 bn, residual value of fixed assets (including construction in progress) - by 3.9 bn that was partly compensated by decrease of net-volume of inventories by KZT2.1 bn, funds - by 1.9 bn and long-term investments - 1.2 bn; - liabilities increased by KZT11.3 bn, in accordance with growth of accounts payable by 16.7 bn whereas there tooj place decrease of reserves formed on liabilities by 5.4 bn; - sales volume decreased by KZT3.8 bn; - cost of goods sold fell by KZT6.4 bn; - revenues of the period rose by KZT7.5 bn (by 30.5%). Net income received by Mangistaumunaigas OJSC for 9 months of 2002 decreased in comparison with similar period of 2001 by KZT4.4 bn. The table below shows dynamics of come indicators of Mangistaumunaigas OJSC for 9 months of 2002 by quarters by non-growing results (in m KZT): ---------------------------------------------------- Change, Change, Indicator I-2002 II-2002 % III-2002 % ------------ ------ ------- ------- -------- ------- Sales volume 21,981 26,313 +19.7 33,020 +25.5 Net income 2,044 947 -53.6 5,107 +439.1 ---------------------------------------------------- The company's primary activities: oil and gas production and transportation; petroleum refining, sale of oil and products of its refinery; exploration and design works of oil and gas fields. [2002-11-14]