Results of activity of Aktobemunai-finance OJSC (Kazakhstan) for 2002

/KASE, May 7, 03/ - Aktobemunai-finance OJSC (Aktobe), whose shares are circulating in Kazakhstan stock exchange's (KASE) official "B" listing category, provided KASE with consolidated financial statement for 2002: the balance sheet, income statement and cash flow statement. The following indicators are consolidated result of the issuer's financial and economic activity in 2002, based upon the issuer's information (in th. KZT, unless otherwise specified): -------------------------------------------------------------------------- As of As of Indicator Jan 1, 02 Jan 1, 03 Change,% ------------------------------------------ --------- --------- -------- Issued (paid) authorized capital 1,156,000 1,300,000 +12.5 Shareholders' equity 1,131,449 1,307,962 +15.6 Total assets 2,640,469 2,153,746 -18.4 Net working capital -794,607 -218,994 +72.4 Accounts receivable 586,196 363,611 -38.0 Liabilities, total 1,508,969 821,733 -45.5 Attracted credits 1,356,693 664,563 -51.0 Accounts payable 139,897 97,978 -30.0 Sales volume 384,992 532,468 +38.3 Cost of goods sold 576,540 468,083 -18.8 Net income (loss) (51,725) 86,309 +266.9 ------------------------------------------ --------- --------- -------- It's been calculated on the issuer's data: ------------------------------------------ --------- --------- -------- Return on sales (ROS), % - 12.09 - Return on equity (ROE), % - 6.60 - Return on assets (ROA), % - 4.01 - Book value of one share, KZT 97.88 100.61 +2.8 Earnings per share (EPS), KZT* - 6.65 - Price earnings ratio (Р/Е)* - 15.04 - -------------------------------------------------------------------------- * - as of January 1 of 2003 earnings per share (EPS) and price earnings ratio (P/E) have been calculated excluding dividends on privileged shares. Relative to 2001 there are following changes: - shareholders' equity increased by KZT176.5 m. due to increase of the paid part of authorized capital by 144.0 m. and decrease of the uncovered loss by 86.3 m., whereas there took place decrease of revaluation sum by 53.8 m.; - assets decreased by KZT486.7 m. as the result of decrease of investments by 742.7 m. and accounts receivable - 222.6 m. that was partially compensated by increase of residual value of fixed assets by 258.7 m., intangible assets - by 125.7 m. and other assets - by 94.1 m.; - liabilities decreased by KZT687.2 m., that had been caused by decrease of the volume of attracted credits by 692.1m. and accounts payable - by 41.9 m., whereas there took place increase of other liabilities - by KZT46.8 m.; - sales volume increased by KZT147.5 m.; - cost of goods sold decreased by KZT108.5 m.; - expenses of the period increased by KZT31.0 m. Net income, which Aktobemunai-finance OJSC received in 2002, in the amount of KZT86.3 m. was provided by additional evaluation of gas pipeline for KZT283.7 m., which had been made in 2002, which was put among the net income. Company's loss from usual activity after tax payment equaled to KZT197.4 m. (before tax payments - KZT196.5 m.). The company's primary activities - production and sale of electrical energy, gas transportation and commercial activity. [2003-05-07]