Results of activity of Corporation Kazakhmys OJSC (Kazakhstan) for the I quarter of 2003

/KASE, June 19, 03/ - Corporation Kazakhmys OJSC (Zheskazgan), whose shares are circulating in the stock exchange's official "A" listing category, provided KASE with financial statement for the I quarter of 2003. Following indexes are result of the issuer's financial and economic activity for the I quarter of 2003, based on the issuer's data (in th. KZT, unless otherwise specified): ---------------------------------------------------------------- as of as of Increase / Index Apr 1, 02 Apr 1, 03 decrease, % ---------------------------- ----------- ----------- ----------- Authorized capital (paid) 2,946,920 2,946,920 0 Shareholders' equity 105,147,544 131,438,527 +25.0 Total assets 138,271,765 171,098,050 +23.7 Net working capital 36,102,412 48,012,407 +33.0 Accounts receivable 14,608,861 52,124,565 +256.8 Liabilities, total 33,124,221 39,659,523 +19.7 Short-term credits 0 5,687,107 - Accounts payable 24,885,456 24,996,728 +0.4 Sales volume 31,371,997 28,229,374 -10.0 Cost of goods sold 14,563,135 13,037,925 -10.5 Net income (loss) 13,090,708 6,779,316 -48.2 Book value of one share, KZT 21,408.29 26,761.20 +25.0 ---------------------------------------------------------------- Relative to similar period of 2001 there are following changes: - company's shareholders equity increased by KZT26.3 bn. as the result of increase of total sum of undistributed income by 29.9 bn., whereas there took place decrease of additionally unpaid capital by KZT3.6 bn.; - assets grew by 32.8 bn., including: accounts receivable - by 37.5 bn., volume of construction in process - by 9.9 bn., residual value of fixed assets - by 4.7 bn., inventory - 2.2 bn. and other assets - by 441.7 m., whereas there took place decrease of funds by 21.9 bn.; - liabilities increased by 6.5 bn., that was caused by attracting of short-term credits for 5.7 bn., growth of charged expenses sum by 1.2 bn., whereas there took place decrease of other liabilities - by 370.2 m.; - sales volume decreased by KZT3.1 bn.; - cost of goods sold decreased by KZT1.5 bn. Net income, which Corporation Kazakhmys OJSC received according to results of the I quarter of 2003, decreased by KZT6.3 bn. relative to similar period of 2002. Company's primary activities - extraction and manufacturing of treasures of the soil, production of cathode copper; production, transfer and distribution of electrical and heat energy; Scientific-research, development, design works; industrial and civil building; transportation of cargo and passengers. [2003-06-19]