Results of activity of UKTMC OJSC (Kazakhstan) for 2002

/KASE, May 7, 03/ - UKTMC OJSC (Ust-Kamenogorsk), whose shares are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with non-audited financial statement for 2002: the balance sheet, income statement and cash flow statement. The following indicators are results of the issuer's financial and economic activity in 2002, based upon the issuer's information (in th. KZT, unless other wise specified): --------------------------------------------------------------------------- As of As of Indicator Jan 1, 02 Jan 1, 03 Change,% ------------------------------------------ --------- ---------- -------- Issued (paid) authorized capital 21,582 21,582 0.0 Shareholders' equity 6,515,272 7,534,444 +15.6 Total assets 7,445,721 8,627,119 +15.9 Net working capital 1,997,718 2,480,328 +24.2 Accounts receivable 914,343 613,780 -32.9 Liabilities, total 930,449 1,092,675 +17.4 Accounts payable 930,449 1,092,675 +17.4 Sales volume 9,662,774 10,330,111 +6.9 Cost of goods sold 7,752,220 8,002,938 +3.2 Net income for the period 722,560 1,100,428 +52.3 ------------------------------------------ --------- ---------- -------- It's been calculated on the issuer's data: ------------------------------------------ --------- ---------- -------- Return on assets (ROA), % 19.77 22.53 +13.9 Return on equity (ROE), % 11.09 14.50 +30.8 Return on assets (ROA), % 9.70 12.67 +30.5 Earnings per share (EPS), KZT 735.63 1,133.07* +54.0 Price earnings ratio (Р/Е), KZT 6.95 5.16* -25.8 Book value of one share, KZT 6,037.69 6,982.16 +15.6 --------------------------------------------------------------------------- * - calculated excluding dividends on privileged shares, which will be determined at the annual shareholders meeting. Relative to 2001 there is increase of: - shareholders' equity - by KZT1.0 bn as the result of increase of total sum of undistributed income by the same sum; - assets - by KZT1.2 bn., as the result of increase of residual value of fixed assets by 511.4 m. and inventory - by 896.6 m. that was partially covered by decrease of other assets by 226.6 m.; - liabilities - by KZT162.2 m. that had been caused by growth of accounts payable by the same sum; - sales volume - by KZT667.3 m.; - cost of goods sold - by KZT250.7 m.; Net income, which UKTMC OJSC received in 2002, increased by KZT377.9 m. relative to 2001 The tale below shows dynamics of some indicators of UKTMC OJSC for 2002 by quarters by non-growing total (in m. KZT): ---------------------------------------------------------------------------- Change, Change, Change, Indicator I-2002 II-2002 % III-2002 % IV-2002 % ------------ ------- ------- ------- -------- ------- ------- ------- Sales volume 3,256.6 2,710.6 -16.8 2,423.8 -10.6 1,939.2 -20.0 Net income 511.0 469.9 -8.0 130.9 -72.2 -11.3 -108.6 ---------------------------------------------------------------------------- The company's primary activities - production and sale of non-ferrous metals (high-quality titanium sponge, and commercial magnesium). [2003-05-07]