Results of activity of Aluminium of Kazakhstan OJSC (Kazakhstan) for 2002

/KASE, December 11, 03/ - Aluminum of Kazakhstan OJSC (Pavlodar), whose bonds are circulating under stock exchange's official "B" listing category, provided KASE with financial statements for 2002. The following indicators are results of the issuer's financial and economic activity in 2002, based upon the issuer's information (in th. KZT, unless otherwise specified): ------------------------------------------------------------------- As of As of Change, Indicator Jan 1, 02 Jan 1, 03 % ------------------------------------- ---------- ---------- ------- Issued authorized capital (paid) 5,834,811 5,834,811 0 Shareholders' equity 21,337,995 23,329,939 +9,3 Total assets 30,854,867 30,972,912 +0,4 Net working capital 5,797,252 7,207,532 +24,3 Accounts receivable 6,497,714 6,411,143 -1,3 Liabilities, total 9,516,872 7,642,973 -19,7 Accounts payable 6,174,582 4,593,896 -25,6 Attracted credits 3,342,290 3,049,077 -8,8 Sales volume 29,420,761 28,011,038 -4,8 Cost of goods sold 18,916,418 20,210,758 +6,8 Net income for the period 7,423,170 1,991,944 -73,2 ------------------------------------- ---------- ---------- ------- Based on issuer's data following was calculated ------------------------------------- ---------- ---------- ------- Return on Sales, % 35.70 27.85 -22.0 Return on Equity, % 34.79 8.54 -75.5 Return on Assets, % 24.06 6.43 -73.3 Earnings per Share, KZT 140.22 37.63 -73.2 Price-earnings ratio 0.57 2.60 +357.1 Book value of one share, KZT 365.70 399.84 +9.3 ------------------------------------------------------------------- Relative to 2001 following changes occurred: - shareholders' equity increased by KZT2.0 bn as the result of increase of total sum of undistributed income by the same amount; - assets increased by KZT7118.0 m, that was caused by increase of residual value of fixed assets by 1.0 bn, cash - by 757.8 mn, what was partially offset by decrease of inventory by 1.4 bn and other assets - by 255.3 mn; - liabilities decreased by KZT1.9 bn, including accounts payable - by 1.6 bn, volume of attracted credits incl. leasing) - by 293.2 m; - sales volume decreased by KZT1.4 bn; - cost of goods sold increased by KZT1.3 bn. - period expenses increased by 2.0 bn (including general & administrative expenses - by 1.9 bn) or 1.9 times. Net income earned by Aluminum of Kazakhstan OJSC in 2002 decreased in comparison with previous year by KZT5.4 bn. The company's primary activities - production and sale of aluminum, alumina and sodium salts; extraction and concentrating of aluminum, which contains raw stuff; producing of heat and electrical energy. [2002-12-11]