Results of activity of Zhyluenergiya OJSC (Kazakhstan) for the first half year of 2002

/KASE, December 10, 02/ - Zhyluenergiya OJSC (Aktobe), whose shares are circulating under the stock exchange's official "B" listing category, provided KASE with the financial statement for the first half year of 2002: the balance sheet and income statement. The following indicators are results of the issuer's financial and economic activity for the first half year of 2002, based upon the issuer's information (in th. KZT, unless otherwise specified): ------------------------------------------------------------------ As of As of Indicator July 1, 01 July 1, 02 Change,% -------------------------------- ---------- ---------- -------- Issued authorized capital (paid) 120,000 263,208 +119.3 Shareholders' equity 141,931 862,774 +507.9 Total assets 1,615,082 1,461,135 -9.5 Net working capital -149,696 384,579 - Accounts receivable 1,250,474 862,699 -31.0 Liabilities 1,473,151 598,361 -59.4 Short-term credits 418,053 1,000 -99.8 Accounts payable 1,055,098 597,361 -43.4 Sales volume 858,737 859,393 +0.1 Cost of goods sold 744,758 715,705 -3.9 Net income for the period 158,445 (91,010) - Book value of one share, KZT* 2,365.52 327.79 -86.1 ------------------------------------------------------------------ Relative to similar period of 2001 there are following changes: - shareholders' equity increased by KZT720.8 m as the result of increase of reserve capital by 632.0 m, paid authorized capital - by 143.2 m (partial floatation of shares of the 4th issue), whereas there took place decrease of undistributed income by 54.4 m; - assets decreased by KZT153.9 m that had been caused by decrease of accounts receivable by 387.8 m, whereas there took place increase of long-term investments by 181.8 m and other assets - by 52.0 m; - liabilities decreased by KZT874.8 m, including: accounts payable - by 457.7 m and short-term credits by KZT417.1 m; - sales volume increased by KZT656.0 th; - cost of goods sold decreased by KZT29.1 m - expenses of the period rose by KZT177.6 m or 3.6 times (including general and administrative - by 165.5 m); - income from secondary activity decreased by 99.5 m (8.7 times). * Such the significant difference of the book value of one share by the mentioned dates is explained by the following: - book value of one share as of July 1 of 2001 was calculated on shares of the third issue, which consisted of 45,000 common shares and 15,000 privileged share with the face value of KZT2,000.0 each; - book value of one share as of July 1 of 2002 was calculated on shares of the fourth issue (was registered on February 18 of 2002 with simultaneous annulling of the third issue), which consisted of 49,000,000 common and 1,000,000 privileged shares with the face value of KZT100.0 each. The company's primary activity - production, transfer and sale of heat energy and provision with hot water. [2002-12-10]