Results of activity of PetroKazakhstan Oil Products OJSC for the I quarter of 2003

/KASE, July 15, 03/ - PetroKazakhstan Oil Products OJSC (Shymkent, before - SHNOS OJSC), whose securities are circulating under the stock exchange's official list (bonds - "A" category, shares - "B" category), provided KASE with the financial statement for the I quarter of 2003, which was prepared in compliance with Kazakhstan accounting standards (KAS) and international accounting standards (IAS). On the reason the stock exchange has not the company's financial statement for the I quarter of 2002 prepared in compliance with IAS, below is comparison of results of the company's activity with similar period of 2002 according to financial statement, which was prepared in compliance with KAS. The following indicators are results of the issuer's financial and economic activity for the I quarter of 2003, based upon the issuer's information (in th. KZT, unless otherwise specified): ------------------------------------------------------------------------------- As of As of Indicator Apr 1, 02 Apr 1, 03 Change,% --------------------------------------------- ---------- ---------- -------- Authorized capital (paid excluding withdrawn) 62,256 62,256 0.0 Shareholders' equity 34,300,994 42,664,560 +24.4 Total assets 48,598,894 55 354 697 +13.9 Net working capital 23,203,942 36 237 215 +56.2 Accounts receivable (net) 31,906,348 36 252 286 +13.6 Liabilities, total 14,297,900 12 690 136 -11.2 Issued bonds 2,006,401 3,720,608 +85.4 Attracted credits 6,133,911 1,953,825 -68.1 Accounts payable 6,157,587 7 015 703 +13.9 Sales volume 12,547,216 11 146 466 -11.2 Cost of goods sold 9,073,647 6 158 322 -32.1 Net income for the period 1,924,952 2 341 358 +21.6 Book value of one share, KZT 551.0 685.31 +24.4 ------------------------------------------------------------------------------- Relative to similar period of 2002 there are following changes: - shareholders' equity increased by KZT8.4 bn as the result of increase of total sum of undistributed income by the same sum; - assets increased by KZT6.7 bn that had been caused by increase of accounts receivable by 4.3 bn, residual value of fixed assets - by 5.5 bn, money and its equivalents - by 2.5 bn. and other assets - by 580.3 m., whereas there took place decrease of volume of construction in progress by 5.2 bn, inventory by 1.0 bn; - liabilities decreased by KZT1.6 bn, in accordance with decrease of the volume of attracted credits by 4.2 bn., that was partially compensated by increase of the volume of floated bonds by 1.7 bn and accounts payable - by 858.1 m; - sales volume decreased by KZT1.4 bn; - cost of goods sold decreased by KZT2.9 bn. Net income, which PetroKazakhstan Oil Products OJSC received in the I quarter of 2003, exceeded net income of corresponding period of 2002 by KZT416.4 m. Company's primary activities - petroleum refining and mineral oils sale. [2003-07-15]