Results of activity of Karazhanbasmunai OJSC (Kazakhstan) for 2002

/KASE, April 3, 03/ - Karazhanbasmunai OJSC (Aktau), whose bonds are circulating in the stock exchange's official "А" listing category, provided KASE with preliminary (non-audited) financial statement for 2002: balance sheet and income statement. Following indexes are result of the issuer's financial and economic activity for 2002, based on the issuer's data (in th. KZT, unless otherwise specified): ------------------------------------------------------------------------------ as of as of Increase / Index Jan 1, 02 Jan 1, 03 decrease, % ----------------------------------------- ---------- ---------- ----------- Issued authorized capital (paid excluding 2,161,062 2,161,061 0 withdrawn) Shareholders' equity 9,785,432 14,457,849 +47.7 Book value of assets 31,339,916 42,900,836 +36.9 Working capital -506,893 4,689,992 +1,025.2 Accounts receivable 3,702,693 8,584,777 +131.9 Liabilities, total 21,554,484 28,442,987 +32.0 Borrowed loans 12,186,532 15,757,877 +29.3 Accounts payable 5,951,840 8,943,826 +50.3 Liabilities on bonds 3,004,000 3,112,000 +3.6 Sales volume 17,584,246 34,961,219 +98.8 Cost of goods sold 5,109,979 7,670,569 +50.1 Expenses of the period 6,301,570 12,224,922 +94.0 Net income for the period 3,942,826 9,458,333 +139.9 ----------------------------------------- ---------- ---------- ----------- It's been calculated according to issuer's data: ------------------------------------------------------------------------------ Return on sales (ROS), % 70.9 78.1 +10.0 Return on equity (ROE), % 40.3 65.4 +62.4 Return on assets (ROA), % 12.6 22.0 +75.2 ------------------------------------------------------------------------------ Relative to 2001 there is increase of: - company's shareholders equity - by KZT4.7 bn. as the result of increase of undistributed income by 4.9 bn. (4.8 times), whereas there took place sum of reserves on revaluation by KZT184.8 m.; - assets - by 11.6 bn., including: residual value of fixed assets - by 4.3 bn., accounts receivable - by 4.9 bn. (2.3 times), money and its equivalents - by 2.3 bn. (12.9 times), other assets - by 137.7 m; - liabilities - by 6.9 bn., of them: volume of borrowed credits - by 3.6 bn., accounts payable - by 3.0 bn. and other liabilities - by 325.2 m.; - sales volume - by KZT17.4 bn. (2 times); - cost of goods sold - by KZT2.6 bn.; - expenses of the period - by KZT5.9 bn. (including expenses on transportation - by 4.0 bn.). The table below shows dynamics of some indicators of Karazhanbasmunai OJSC for 2002 by quarters bynon-growing total (in m. KZT): ----------------------------------------------------------------------------- Change, Change, Change, Index I-2002 II-2002 % III-2002 % IV-2002 % ------------ ------- ------- ------- -------- ------- -------- ------- Sales volume 6,735.9 8,561.3 +27.1 9,394.8 +9.7 10,269.2 +9.3 Net income 1,463.5 2,618.5 +78.9 3,252.3 +24.2 2,124.0 -34.7 ----------------------------------------------------------------------------- Company's primary activities: development of oil field Karazhanbas; extraction, preparation, handing over and refining of oil; introduction of thermal methods of oil recovery increasing; building of objects of wells construction and development; crude oil refinement and processing; building of objects of oil preparation; export; marketing and sale of hydrocarbons and hydrocarbon products. [2003-04-03]