National company "KazMunayGaz" announces financial results for 2021

17.03.22 14:18
/KASE, March 17, 2022/ – National company "KazMunayGaz" JSC (Nur-Sultan), whose securities are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with the following press release dated March 17, 2022: quote National Company "KazMunayGas" JSC (hereinafter – "KMG", "Company"), a vertically integrated oil and gas company of Kazakhstan, published its consolidated financial statements prepared in accordance with International Financial Reporting Standards (IFRS) for 2021 with an independent auditor's report. Deputy Chairman of the Management Board of KMG Dauren Karabayev: "Against the background of the combined influence of external factors, in 2021, we observed a gradual recovery of the Company's financial performance to the level of the pre-pandemic period. The recovery of global demand, as well as the regulation of the oil market by OPEC+, became key factors in the growth of oil prices. Timely measures taken in response to external challenges allowed the Company to achieve better results than we predicted". 2021 financial highlights: - Revenue in 2021 increased by 61.1% to KZT5,839 billion (USD 13,704 million) compared to KZT3,625 billion (USD8,767 million) in 2020; - EBITDA increased by 98.6% to KZT1,609 billion (USD3,776 million) compared to KZT810 billion (USD1,960 million) in 2020; - The Company's net income in the reporting period amounted to KZT1,197 bn (USD2,810 mln). Net income for the period attributable to shareholders of the parent company amounted to KZT1,216 bn (USD2,853 mln); - Free cash flow of KZT669 bn (USD1,570 mln) compared to KZT50 bn (USD121 mln) in 2020; - Total debt as of December 31, 2021 decreased by 8.1% compared to December 31, 2020 and amounted to KZT3,746 bn (USD8,676 mln); - The Company's net debt as of December 31, 2021 amounted to KZT2,204 bn (USD5,104 mln), reduced by 15% compared to December 31, 2020 at the level of KZT2,594 bn (USD6,162 mln). unquote The full version of the press release is posted on KASE website – [2022-03-17]