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

/KASE, December 12, 02/ - Jyluenergiya OJSC (Aktobe), 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 and income statement. The following indicators are results of the issuer's financial and economic activity for 9 months of 2002, based upon the issuer's information (in th. KZT, unless otherwise specified): ---------------------------------------------------------------- As of As of Indicator Oct 1, 01 Oct 1, 02 Change,% -------------------------------- --------- --------- -------- Issued authorized capital (paid) 120,000 263,210 +119.3 Shareholders' equity 216,476 719,864 +232.5 Total assets 1,938,483 1,386,942 -28.5 Net working capital -73,372 221,714 - Accounts receivable 1,557,671 758,601 -51.3 Liabilities 1,722,007 667,077 -61.3 Short-term credits 356,234 33,508 -90.6 Accounts payable 1,365,773 633,569 -53.6 Sales volume 941,188 943,836 +0.3 Cost of goods sold 904,585 902,679 -0.2 Net income (loss) for the period 232,990 (247,350) - Book value of one share, KZT* 3,607.93 273.49 -92.4 ---------------------------------------------------------------- Relative to similar period of 2001 there are following changes: - shareholders' equity increased by KZT503.4 m as the result of increase of reserve capital by 632.0 m, paid authorized capital - by 143.2 m (partial floatation of 4th issue shares), additionally unpaid capital - by 13.4 m, whereas there took place decrease of undistributed income by 285.3 m; - assets decreased by KZT551.5 m that had been caused by decrease of accounts receivable by 799.0 m, whereas there took place increase of long-term investments by 181.8 m and other assets - by 65.7 m; - liabilities decreased by KZT1.0 bn, including: accounts payable - by 732.2 m, volume of attracted credits - by 322.7 m; - sales volume increased by KZT2.6 m; - cost of goods sold decreased by KZT1.9 m; - expenses of the period increased by 189.9 m or 2.7 times (including general and administrative expenses - by 188.9 m). According to results of activity for 9 months of 2002, the company had loss in the amount of KZT247.4 m against KZT232.9 m of the net income, which had been received for similar period of 2001. * - Such the significant difference of book value of one share by the mentioned dates is explained by the following: - book value of one share as of July 1, 01 was calculated on shares of the third issue, when there were issued 45,000 common and 15,000 privileged shares with the face value of KZT2,000.0 each; - book value of one share as of July 1, 02 was calculated on shares of the fourth issue (was registered on February 18, 02 with simultaneous annulling of the third issue), when there were issued 49,000,000 common and 1,000,000 privileged shares with the face value of KZT100.0 each. The tale below shows dynamics of some indicators of Jyluenergiya OJSC for 2002 by quarters by non-growing result (in th. KZT): ----------------------------------------------------------- Change, Change, Indicator I-2002 II-2002 % III-2002 % ------------ ------- -------- ------- -------- ------- Sales volume 684,193 175,200 -74.4 84,444 -51.8 Net income 134,674 -225,684 -267.6 -156,340 +30.7 ----------------------------------------------------------- The company's primary activities -production, transfer and sale of heat energy and provision with hot water. [2002-12-12]