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

/IRBIS, Galina Tsalyuk, March 25, 04/ - Aktobemunai-finance OJSC (Aktobe), whose shares are circulating in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with non-audited consolidated financial statement for 2003. The following indicators are consolidated result of the issuer's financial and economic activity in 2003, based upon the issuer's information (in th. KZT, unless otherwise specified): ------------------------------------------------------------ As of As of Change, Indicator Jan 1, 03 Jan 1, 04 % -------------------------------- --------- --------- ------- Authorized capital (paid) 1,300,000 1,300,000 0.0 Shareholders' equity 1,307,962 1,179,587 -9.8 Total assets 2,153,746 3,259,175 +51.3 Net working capital -218,994 699,512 -419.4 Accounts receivable 363,611 1,108,052 +204.7 Liabilities, total 821,733 2,079,588 +153.1 Attracted credits 653,563 1,251,231 +91.4 Accounts payable 168,170 528,001 +214.0 Sales volume 532,468 1,553,849 +191.8 Cost of goods sold 468,083 1,303,085 +178.4 Net income (loss) 86,309 -128,368 -248.7 -------------------------------- --------- --------- ------- Calculated by the issuer's data: -------------------------------- --------- --------- ------- Return on sales (ROS),% 12.09 16.14 +33.5 Return on assets (ROA),% 4.01 -3.94 -198.3 Return on equity (ROE),% 6.60 -10.88 -264.9 Book value of one share, KZT 100.61 90.74 -9.8 Earnings per share (EPS), KZT 6.65 -9.89 -248.7 Price earnings ratio (Р/Е) 15.04 - - ------------------------------------------------------------ Relative to 2002 shareholders equity of Aktobemunai-finance OJSC has decreased by KZT128.4 m. as the result of increase of total sum of uncovered loss by the same sum, but there is increase of: - company's assets - by KZT1.1 bn. as the result of increase of accounts receivable by KZT744.4 m., investments - by 175.9 m., residual value of fixed assets - by 137.9 m. and other assets - by 54.8 m.; - liabilities - by KZT1.2 bn., including: attracted credits - by KZT597.7 m., accounts payable - by 359.8 m., and other liabilities - by 276.3 m.; - sales volume - by KZT1.0 bn.; - cost of goods sold - by KZT835.0 m; - expenses of the period - by KZT197.6 m. (by 81.7%). According to results of activity in 2003, which Aktobemunai-finance OJSC has loss in the amount of KZT128.4 m. against KZT86.3 m. of the net income in 2002. It should be noted that company's net income for 2002 was formed by the income from secondary activity in the amount of KZT264.5 m. (2003 - 63.6 m.), while there were approximately the same losses from primary activity (2002 - 177.4 m., 2003 - 188.6 m.). Company's primary activities - production and sale of electrical energy, gas transportation and commercial activity. [2004-03-25]