Financial Statements of VITA OJSC (Kazakhstan) for 2003

/IRBIS, Galina Tsalyuk, March 15, 03/ - VITA OJSC (Almaty), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "B" listing category, provided KASE with financial statements for 2003. The following indicators are results of the company's financial and economic activity for 2003, based upon its information (in th. KZT): --------------------------------------------------------------------- As of As of Indicator Jan 01, 03 Jan 01, 04 Change,% -------------------------------------- ---------- ---------- -------- Authorized capital (paid-up) 100,000 750,000 +650.0 Shareholders' equity 478,163 1,402,568 +193.3 Total assets 3,876,397 6,268,614 +61.7 Net working capital 924,361 1,588,636 +71.9 Accounts receivable 1,416,417 2,463,709 +73.9 Total liabilities 3,398,234 4,866,046 +43.2 Attracted credits 1,751,273 3,246,215 +85.4 Accounts payable 896,961 869,831 -3.0 Bonds issued 750,000 750,000 0.0 Sales volume 1,296,117 2,736,745 +111.1 Cost of goods sold 914,879 2,007,892 +119.5 Net income for the period 85,623 232,410 +171.4 -------------------------------------- ---------- ---------- -------- Financial ratios based on issuers data -------------------------------------- ---------- ---------- -------- Return on Sales 29.41 26.63 -9.5 Return on Assets 2.21 3.71 +67.8 Return on Equity 17.91 16.57 -7.5 --------------------------------------------------------------------- Relative to 2002 there is increase of: - shareholders' equity - by KZT924.4 m as the result of increase of paid part of authorized capital by 650.0 m and total sum of undistributed income - by 211.8 m, and formation of additional unpaid capital in amount of KZT62.6 m; - assets - by KZT2.4 bn, including: residual value of fixed assets - by 361.4 m; accounts receivable - by 1.0 bn, construction in process - by 509.6 m, cash - by 415.0 m and other assets by 144.1 m.; - liabilities - by KZT1.5 bn. that was caused by increase of attracted credits volume by 1.5 bn.; - sales volume - by KZT1.4 bn.; - cost of goods sold - by KZT1.1 bn.; - expenses of the period - by 346.5m. (2.1 times); - revenues form non-primary activities - by KZT145.6 m (from 15.7 m to 161.3 m or 10.3 times). Net income earned by VITA OJSC in 2003, increased by KZT146.8 m. (2.7 times) relative to 2002. The company's primary activities: production, purchasing, processing and sale of agricultural production, transportation, storage and refining of oil and other activities. [2004-03-15]