Results of activity of Aluminium of Kazakhstan JSC (Kazakhstan) for the I half-year of 2003

/KASE, December 12, 03/ - Aluminum of Kazakhstan JSC (Pavlodar), whose bonds are circulating under stock exchange's official "B" listing category, provided KASE with financial statements for the I half-year of 2003. The following indicators are result of the issuer's financial and economic activity for the I half-year of 2003, based upon the issuer's information (in th. KZT, unless otherwise specified): ---------------------------------------------------------------------- As of As of Change, Indicator Jul 1, 02 Jul 1, 03 % ------------------------------------- ---------- ---------- ------- Authorized capital (paid) 5,834,811 5,834,811 0 Shareholders' equity 22,929,070 25,383,403 +10.7 Total assets 31,590,794 32,108,450 +1.6 Net working capital 6,733,042 10,139,645 +50.6 Accounts receivable 7,345,619 7,207,635 -1.9 Liabilities, total 8,661,724 6,725,047 -22.4 Accounts payable 5,497,857 2,296,392 -58.2 Attracted credits (including leasing) 3,163,696 4,428,655 +40.0 Sales volume 13,169,848 15,464,293 +17.4 Cost of goods sold 9,360,010 10,703,514 +14.4 Net income for the period 1,591,075 2,107,779 +32.5 Book value of one share, KZT 392.97 435.03 +10.7 ---------------------------------------------------------------------- Relative to similar period of 2002 following changes occurred: - shareholders' equity increased by KZT2.4 bn as the result of increase of total sum of undistributed income by the same sum; - assets increased by KZT517.6 m, that was caused by increase of residual value of fixed assets by 585.9 m, construction in progress - by 452.0 m, that was covered by decrease of inventory by 456.6 m and other assets - by 63.7 m; - liabilities decreased by KZT1.9 bn that was caused by decrease of accounts payable by 3.2 bn, whereas there took place increase of volume of attracted credits (incl. leasing) by 1.3 bn; - sales volume increased by KZT2.3 bn; - cost of goods sold increased by KZT1.3 bn.; - expenses of the period increased by 742.2 m (by 57.5%). Net income earned by Aluminum of Kazakhstan JSC in the I half-year of 2003 increased in comparison with the net income of similar period of 2002 by KZT516.7 m. 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. [2003-12-19]