Results of activity of TNC Kazkhrom OJSC (Kazakhstan) for 2003

/IRBIS, Galina Tsalyuk, May 31, 04/ - TNC Kazchrome JSC (Aktobe), whose shares are circulating the official "B" listing category of Kazakhstan stock exchange (KASE), provided KASE with consolidated financial statements for 2003. Following indicators are the result of the issuer's financial and economic activity for 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) 7,903,395 7,903,395 0.0 Shareholders' equity 36,314,151 48,932,692 +34.7 Total assets 51,477,063 58,944,484 +14.5 Net working capital 1,751,289 11,941,041 +581.8 Accounts receivable 5,504,281 7,758,976 +41.0 Liabilities, total 15,148,818 9,998,676 -34.0 Accounts payable 8,586,937 6,807,685 -20.7 Attracted credits 4,989,857 1,068,370 -78.6 Sales volume 56,660,119 76,034,264 +34.2 Cost of goods sold 31,830,031 38,665,510 +21.5 Period expenses 14,952,579 16,626,104 +11.2 Net income for the period 5,803,909 12,871,439 +121.8 ------------------------------------------ ---------- ---------- ------- It's been calculated by the issuer's data: ------------------------------------------ ---------- ---------- ------- Return on sales (ROS), % 43.82 49.15 +12.1 Return on equity (ROE), % 15.98 26.30 +64.6 Return on assets (ROA), % 11.27 21.84 +93.7 Earnings per share, KZT* 801.44 1,800.83 +124.7 Book value of one share, KZT 4,594.75 6,191.35 +34.7 --------------------------------------------------------------------------- * - Earnings-per-share ratio for 2003 calculated ignoring dividends on preferred shares. Relative to 2002 following accounts increased: - shareholders equity increased by KZT12.6 bn. as the result of increase in total sum of undistributed income by 12.8 bn while additional unpaid capital decreased by 192.7 m; - assets by KZT7.5 bn., caused by increase in book value of fixed assets (including construction in progress) by 2.9 bn., accounts receivable by KZT2.2 bn., inventory by 2.0 bn and other assets - by KZT266.1 m.; - sales volume increased by KZT19.4 bn.; - cost of goods sold increased by KZT6.8 bn.; - expenses of the period decreased by KZT1.7 bn. Liabilities of TNC Kazchrome JSC shrank by KZT5.1 bn relative to 2002 caused by decrease in loans attracted by 3.9 bn, accounts payables by 1.8 bn, while deferred taxes rose by 550.6 m. Net income earned by TNC Kazchrome JSC in 2003 exceeded the net income of 2002 by KZT7.1 bn. Company's primary activity - ferrous metals production, extraction and concentrating of ore raw stuff for ferrous metallurgy. [2004-05-31]