Results of ARNA OJSC (Kazakhstan) activity for 2003

/IRBIS, Galina Tsalyuk July 26, 04/ - ARNA OJSC (Almaty), whose bonds are traded under "A" official securities list at KASE, presented KASE the financial statements for 2003. According to audited financial statement's data the results of the company's financial and economic activity in 2003 are as follows (in th. KZT, unless otherwise indicated): ------------------------------------------------------------- As of As of Change, Indicator Jan 1, 03 Jan 1, 04 % --------------------------------- --------- --------- ------- Authorized capital (paid) 5,000 5,000 0.0 Shareholders' equity 1,357,149 1,478,333 +8.9 Total assets 1,947,294 2,714,277 +39.4 Net working capital -116,070 51,656 +144.5 Accounts receivable (net) 750,878 898,897 +19.7 Total liabilities 590,144 1,235,944 +109.4 Loans attracted (excluding bonds) 328,491 155,119 -52.8 Bonds floated - 465,000 - Accounts payable 261,653 615,825 +135.4 Sales 1,579,461 1,974,593 +25.0 Cost of goods sold 938,864 1,208,583 +28.7 Net income 170,382 241,740 +41.9 --------------------------------- --------- --------- ------- According to the auditor's data it's been calculated: ------------------------------------------------------------- Return on sales (ROS), % 40.6 38.8 -4.4 Return on equity (ROE), % 12.6 16.4 +30.3 Return on assets (ROA), % 8.7 8.9 +1.8 ------------------------------------------------------------- Relative to 2002 the growth occurred in: - shareholders' equity of the company - by KZT 121.2 m, as a result of increase of retained earnings by the same amount; - assets - by KZT 767.0 m, due to increase in depreciated value of fixed assets by 609.4 m, accounts receivables by 148.0 m and other assets - by 9.5 m; - liabilities - by KZT 645.8m, including: floated bonds - by 465.0 m and accounts payable by 354.2 m and fall in attracted loans - 173.4 m; - sales volume - by KZT 395.1 m; - cost of goods sold - by KZT 296.7 m; In 2003 ARNA OJSC received net income exceeding same figure of 2002 by KZT 71.4 m. Company's primary activities: implementation and maintenance of networks and systems of electric and radio communication; development, introduction and maintenance of new technologies and services in telecommunication and information science. [2004-07-26]