Financial results of Corporation Kazakhmys JSC (Kazakhstan) in 2003

/IRBIS, Galina Tsalyuk, June 15, 04/ - Corporation Kazakhmys JSC (Zhezkazgan), whose shares 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) 2,946,920 12,671,677 +330.0 Total assets 161,303,362 211,492,204 +31.1 Shareholders' equity 124,659,211 148,809,502 +19.4 Net working capital 43,392,703 60,933,219 +40.4 Accounts receivable 24,636,175 59,403,486 +141.1 Total liabilities 36,644,151 62,682,702 +71.1 Attracted loans 3,703,280 24,315,068 +556.6 Accounts payable (exc bonds) 23,396,043 26,309,286 +12.5 Sales volume 125,221,331 124,219,953 -0.8 Cost of goods sold 57,217,269 55,782,536 -2.5 Expenses 17,818,541 26,396,187 +48.1 Net income for the period 36,880,320 25,600,012 -30.6 ----------------------------- ----------- ----------- -------- Ratios based on issuer's info ----------------------------- ----------- ----------- -------- Return on Sales (ROS), % 54.3 55.1 +1.4 Return on Equity (ROE), % 29.6 17.2 -41.9 Return on Assets (ROA), % 22.9 12.1 -47.1 Earnings per share (EPS), KZT 7,508.9 1,212.2 -83.9 Price / Earning ratio (P/E) 1.33 3.46 +160.2 Book value per share 25,380.92 7,046.08 -72.2 ----------------------------------------------------------------- Relative to 2002 there is increase of: - shareholders' equity - by 24.1 bn as the result of increase of total sum of undistributed income - by 15.4 bn, paid up part of authorized capital - 9.7 bn, reserve capital - KZT1.8 bn and decrease in additional unpaid capital in amount of 2.8 bn; - assets - by 50.2 bn, caused by accounts receivable - by 34.6 bn, depreciated fixed assets - 19.3bn, short-term financial investments - 11.7 bn, and decrease of construction in process - by 11.1 bn, and other assets by 4.5 bn.; - liabilities grew up by 26.0 bn, of which volume of short-term loans - 20.6 bn, accounts payable - 2.9 bn and other liabilities - 2.5 bn; - sales volume fell by 1.0 bn; - cost of goods sold fell by - 1.4 bn - expenses - grew up by 8.6 bn; Net income of the Company in 2003 decreased by 11.3 bn. relative to 2002. Company's primary activities: extraction and manufacturing of treasures of the soil, production of cathode copper; production, transfer and distribution of electrical and heat energy; Scientific-research, development, design works; industrial and civil building; transportation of cargo and passengers. [2004-06-15]