Results of activity of TNC Kazkhrom OJSC (Kazakhstan) for 2001

/KASE, December 24, 02/ - TNC Kazkhrom OJSC (Almaty) provided KASE with consolidated financial statement for 2001: balance sheet, income statement and cash flow statement. The following indicators are results of the issuer's financial and economic activity for 2001, based upon the issuer's information (in th. KZT, unless otherwise specified): ----------------------------------------------------------------- As of As of Change, Indicator Jan 1, 01 Jan 1, 02 % -------------------------------- ---------- ---------- ------- Issued authorized capital (paid) 7,903,485 7,903,485 +0.0 Shareholders' equity 36,763,040 30,790,333 -16.2 Total assets 47,245,775 46,778,440 -1.0 Net working capital 5,155,757 475,193 -90.8 Accounts receivable 4,469,706 6,603,735 +47.7 Liabilities, total 10,482,735 15,976,205 +52.4 Accounts payable 9,209,829 10,027,751 +8.9 Attracted credits 1,272,906 5,948,454 +367.3 Sales volume 47,929,954 51,524,217 +7.5 Cost of goods sold 30,487,588 31,840,389 +4.4 Net income for the period 3,525,569 1,499,769 -57.5 -------------------------------- ---------- ---------- ------- It's been calculated according to issuer's data: ----------------------------------------------------------------- Return on sales (ROS), % 36.39 38.20 +5.0 Return on equity (ROE), % 9.59 4.87 -49.2 Return on assets (ROA), % 7.46 3.21 -57.0 Book value of one share, KZT 4,651.50 3,895.79 -16.2 Earnings per share (EPS), KZT 480.46 209.83* -56.3 Price earnings ratio (P/E) 1.82 4.77* +162.5 ----------------------------------------------------------------- * - excluding dividends on privileged shares, which will be determined at general annual shareholders meeting. Relative to 2000 there are following changes: - shareholders' equity decreased by KZT6.0 bn as the result of decrease of total sum of undistributed income by 5.6 bn and fixed assets revaluation fund - by KZT401.6 m; - assets decreased by KZT467.3 m that had been caused by decrease of volume of construction in progress by 5.6 bn, long-term investments - by 5.5 bn and other assets - by 3.4 bn that was covered by increase of residual value of fixed assets by 10.8 bn, accounts receivable - by 2.1 bn and other assets - by 1.1 bn; - liabilities increased by KZT5.5 bn, including: attracted credits - by 4.7 bn and accounts payable - by 817.9 m; - sales volume increased by KZT3.6 bn; - cost of goods sold increased by KZT1.4 bn; - expenses of the period increased by KZT3.6 bn (by 31.3%). Net income, which was received by TNC Kazkhrom OJSC, according to results of activity for 2001, decreased by KZT2.0 bn in comparison with 2000. The tale below shows dynamics of some indicators of TNC Kazkhrom OJSC for 2001 by quarters by non-growing result (in m KZT): ------------------------------------------------------------------------------- Change, Change, Change, Indicator I-2001 II-2001 % III-2001 % IV-2001 % ------------ -------- -------- ------- -------- ------- -------- ------- Sales volume 13,536.5 11,329.1 -16.3 12,213.3 +7.8 14,445.3 +18.3 Net income 1,589.3 -1,144.2 -172.0 835.1 +173.0 219.6 -73.7 ------------------------------------------------------------------------------- The company's primary activity - ferrous metals production, extraction and concentrating of ore raw stuff for ferrous metallurgy. [2002-12-24]