Results of activity of Aluminium of Kazakhstan JSC (Kazakhstan) for 2003

/KASE, June 23, 03/ - Aluminum of Kazakhstan JSC (Pavlodar), whose bonds are circulating under stock exchange's official "B" listing category, provided KASE with financial statements for 2003. The following indicators are 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) 5,834,811 5,834,811 0.0 Shareholders' equity 23,450,459 27,114,213 +15.6 Total assets 31,093,432 33,678,313 +8.3 Net working capital 7,183,304 10,977,478 +52.8 Accounts receivable 6,411,143 7,647,410 +19.3 Liabilities, total 7,642,973 6,564,100 -14.1 Accounts payable 3,918,589 2,160,799 -44.9 Attracted credits (including leasing) 3,360,777 3,947,353 +17.5 Sales volume 29,110,754 31,022,066 +6.6 Cost of goods sold 20,401,530 22,344,996 +9.5 Net income for the period 1,991,944 3,772,156 +89.4 ------------------------------------------ ---------- ---------- ------- Estimated according to data of the issuer: ------------------------------------------ ---------- ---------- ------- Return on sales (ROS), % 29.92 27.97 -6.5 Return on equity (ROE), % 8.49 13.91 +63.8 Return on assets (ROA), % 6.41 11.20 +74.8 Earning per share (EPS), KZT 36.61 71.25* +94.7 Book value of one share 401.91 464.70 +15.6 --------------------------------------------------------------------------- * earning per share is calculated without dividends for preferred shares Price earning ratio (P/E) was not calculated due to lack of market deals with shares. Relative to 2002 following changes occurred: - shareholders' equity increased by KZT 3.7 bn as the result of increase of total sum of undistributed income on the same amount; - assets increased by KZT 2.6 bn, that was caused by increase of residual value of fixed assets by 1.4 bn, accounts receivable - by 1.2 bn and inventories - 321.1 m, while other assets declined by - by 399.0 m; - sales volume - by KZT 1.9 bn; - cost of goods sold increased by KZT 1.9 bn.; Liabilities of the company fell down by KZT 1.1 bn because of decrease of accounts payable - 1.7 bn and increase in attracted loans (including leasing) - 586.6 m and other liabilities - 92.3 m. Net income earned by Aluminum of Kazakhstan JSC in of 2003 exceeded the same figure of 2002 by 1.8 bn. The company's primary activities - production and sale of aluminum, alumina and sodium salts; extraction and concentrating of aluminum, which contains raw stuff; producing of heat and electrical energy. [2004-06-23]