/KASE, August 25, 2023/ – NAC Kazatomprom JSC (Astana), whose securities are
officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press release dated August 25, 2023:
quote
JSC National Atomic Company "Kazatomprom" ("Kazatomprom", "KAP" or "the
Company") announces its consolidated financial results for the first half-year
ended 30 June 2023, prepared in accordance with International Financial
Reporting Standards (IFRS). The Company also discloses changes in its
Management.
"The Company demonstrated strong financial results for the first half of 2023,
which reflects a significant improvement in the situation on the uranium market
over the past year. Revenue increased by 25% compared to the first half of 2022
and amounted to almost 619 billion tenge, which led to an increase in operating
profit by 46%, and a near 33% increase in net profit to 222 billion tenge. This
is mainly to due to an increase in uranium prices as well as in the sales
volume associated with changes in the timing of customer requests for supply
and corresponding differences in delivery schedules in the first half of 2023
and 2022. As for operational indicators, production volumes in the first half
of 2023 were nearly at the same level as in the same period of 2022. As it was
announced earlier all 2023 guidance metrics, except for production volumes,
were revised using the updated spot prices estimates, exchange rates and sales
portfolio expansion" - said Yerzhan Mukanov, Kazatomprom's Chairman of the
Board. "We have repeatedly stated that we will closely monitor the market
situation to determine the need to increase the production volumes to 100%
level in accordance with subsoil use contracts. Given the steady improvement in
the dynamics of supply and demand, Kazatomprom as before plans to increase
production volumes in 2024 in accordance with market fundamentals and expansion
of the contract portfolio".
unquote
The complete press release is available on KASE website at –
https://kase.kz/files/emitters/KZAP/kzap_relizs_250823.pdf
[2023-08-25]