/KASE, March 16, 2021/ – NAC Kazatomprom (Nur-Sultan), whose securities
are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE
with a press release dated March 16, 2021, in which it announces consolidated
financial results for the year ended December 31, 2020, prepared in accordance
with the International Financial Reporting Standards (IFRS):
quote
The Group's consolidated revenue was KZT 587,457 million in 2020, an increase
of 17% compared to 2019, due to an increase in the average realized price
associated with an increase in the spot price for U3O8, and weakening of the
KZT against the USD in 2020. This revenue increase was also supported by a
slight increase in sales volumes in 2020 in comparison to 2019.
Operating profit in 2020 was KZT 223,899 million, an increase of 47% compared
to 2019. The increase was mainly due to an increase in average realized price,
as well as an increase in the share of uranium sold that was produced by the
Company’s consolidated subsidiaries and JOs. When such material is sold, the
cost of sales is predominantly represented by the cost of production and the
full mining margin is captured in the consolidated results of the Group.
Net profit in 2020 amounted KZT 221,368 million, an increase of 4% compared to
2019. In 2020 the net result from the sale of the investment in the joint
venture Uranium Enrichment Center JSC was KZT 22,063 million. Adjusting for
that one- time effect, adjusted net profit for 2020 was KZT 199,305 million, an
increase of 40% compared to 2019 and consistent with the increase in the
operating profit in 2020. In 2019, there was a KZT 16,995 million gain from the
reversal of a liability under JOs, which was initially recorded in 2018. This
gain was related to volumes of uranium that were not purchased from JOs in
2018, and which the Group does not plan to purchase in the future. As a result,
this liability was reversed in 2019. Also during 2019, JV "Khorasan-U" LLP was
included in the consolidation. The one-time effect of this transaction was KZT
54,649 million.
unquote
The full press release is available on KASE website –
https://kase.kz/files/emitters/KZAP/kzap_reliz_160321_1.pdf
[2021-03-16]