Results of activity of Aktobemunai-finance OJSC (Kazakhstan) for the 9 months of 2003

/IRBIS, November 5, 03/ - Aktobemunai-finance OJSC (Aktobe), whose shares are circulating in Kazakhstan stock exchange's (KASE) official "B" listing category, provided KASE with consolidated financial statements for 9 months of 2003. The following indicators are consolidated result of the issuer's financial and economic activity for the 9 months of 2003, based upon the issuer's information (in th. KZT, unless otherwise specified): ----------------------------------------------------------- As of As of Change, Indicator Oct 1, 02 Oct 1, 03 % ---------------------------- --------- --------- ------- Authorized capital (paid) 1,300,000 1,300,000 0.0 Shareholders' equity 1,373,644 1,223,575 -10.9 Total assets 2,295,417 2,819,437 +22.8 Net working capital -244,880 472,249 +292.8 Accounts receivable 386,340 817,547 +111.6 Liabilities, total 897,722 1,595,862 +77.8 Attracted credits 687,272 1,075,088 +56.4 Accounts payable 149,181 206,701 +38.6 Sales volume 391,165 1,012,637 +158.9 Cost of goods sold 353,128 808,006 +128.8 Net income (loss) 98,195 (87,659) -189.3 Book value of one share, KZT 105.66 94.12 -10.9 ----------------------------------------------------------- Relatively to a corresponding period of 2002 the shareholders' equity of the company decreased by KZT150.1 m. as the result of increase of total sum of uncovered loss by KZT96.3 m and reduction of additional unpaid capital by 53.8 m, but there was an increase of: - assets - by KZT524.0 m., which was caused by increase of accounts receivable by KZT431.2 m., investments - by KZT135.6 m, money - by 65.6 m, while residual value of fixed assets reduced by 50.8 m., construction in progress - by 55.2 m and other assets - by 2.4 m; - liabilities - by KZT698.1 m., including: attracted credits - by KZT387.9 m. and accounts payable - by 57.5 m. and other liabilities by 252.8 m.; - sales volume - by KZT621.5 m.; - cost of goods sold - by KZT454.9 m. By 9 months results of 2003 Aktobemunai-finance OJSC incurred a net loss in amount of KZT87.7 mn against KZT98.2 mn of net income earned during a corresponding period of 2002. At the same time it should be noted that net incomer earned by the company for 9 months of 2002 was guaranteed by accounting for additional valuation of gas pipeline in amount of KZT289.2 m as a part of net income for the period mentioned. Company's primary activities - production and sale of electrical energy, gas transportation and commercial activity. [2003-11-05]