Auditor's report on financial statements of KazTransOil CJSC (Kazakhstan) for 2002

08.07.03 00:00
/KASE, July 8, 02/ - KazTransOil CJSC (Astana) presented KASE the auditor's report, which had been made on the company's financial statements for 2002 by Ernst & Young (Almaty). According to audited financial statement's data the results of the company's financial and economic activity as of December 31, 2001 and 2002 are as follows (in th. KZT, unless otherwise indicated): ----------------------------------------------------- Indicator 2001 2002 -------------------------- ------------ ----------- Authorized capital (paid) 32,884,575 32,884,575 Shareholders' equity 124,994,036 138,731,631 Total assets 169,083,403 180,091,650 Net working capital 39,561,779 52,084,673 Accounts receivable (net) 19,810,953 18,631,806 Total liabilities 44,089,367 41,360,019 Loans attracted 1,291,720 3,946,332 Accounts payable 15,255,590 9,500,410 Bonds issued 27,036,000 27,291,341 Sales 44,547,196 53,702,761 Cost of goods sold 28,469,411 28,955,088 Net income 4,467,714 13,737,595 ----------------------------------------------------- According to the auditor's data it's been calculated: According to the auditor's data it's been calculated: ----------------------------------------------------- Return on sales (ROS), % 32.66 36.09 Return on equity (ROE), % 3.57 9.90 Return on assets (ROA), % 2.64 7.63 ----------------------------------------------------- Ernst and Young in compliance with Kazakhstan auditing standards conducted audit of the company's financial statement, prepared in compliance with Kazakhstan accounting standards. In the auditor's opinion, in all essential aspects reflects the company's financial situation by December 31, 2002, and results of its financial and economic activity and cash flow for the year, which ended by this date in compliance with Kazakhstan accounting standards. Company's primary activities: rendering services on oil transportation, including oil transportation by pipeline, sea and railway traffic, and services on transportation of products of oil refining and water through the system of own pipelines, services on unload and load of oil products. [2003-07-08]