Results of activity of KazTransOil JSC (Kazakhstan) in 2003

/IRBIS, Galina Tsalyuk, July 28, 04/ - KazTransOil JSC (Astana), whose eurobonds are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with the financial statements for 2003. The following indicators are result of the issuer's financial and economic activity in 2003, based upon the issuer's data (th. KZT, unless otherwise specified): -------------------------------------------------------------------- As of As of Indicator Jan 1, 03 Jan 1, 04 Change,% -------------------------------- ----------- ----------- -------- Authorized capital 32,884,575 32,884,575 0.0 Shareholders' equity 138,731,636 146,190,935 +5.4 Total assets 184,694,871 188,665,966 +2.2 Net working capital 48,997,515 40,875,712 -16.6 Accounts receivable (net) 20,579,721 19,063,625 -7.4 Liabilities, total 45,963,235 42,475,031 -7.6 Borrowed loans (excluding bonds) 3,216,658 2,129,574 -33.8 Accounts payable 11,442,539 18,545,453 +62.1 Issued bonds 28,008,000 21,633,000 -22.8 Volume of sold services 53,702,761 58,424,521 +8.8 Cost of sold services 28,955,088 33,328,722 +15.1 Net income 13,737,595 9,303,539 -32.3 -------------------------------- ----------- ----------- -------- Calculated by issuer's data: -------------------------------- ----------- ----------- -------- Return on sales (ROS), % 46.1 43.0 -6.8 Return on equity (ROE), % 9.9 6.4 -35.7 Return on assets (ROA), % 7.4 4.9 -33.7 -------------------------------------------------------------------- Relative to 2002 there increase of: - shareholders' equity - by KZT7.5 bn as the result of increase of total sum of undistributed income by 13.5 bn, whereas there took place decrease of additional unpaid capital by 6.0 bn; - assets - by KZT4.0 bn, that was caused by growth of residual value of fixed assets by 1.9 bn and construction in process - by 6.0 bn, whereas there took place decrease of accounts receivable by 1.5 bn, money and its equivalents - by 2.1 bn, and other assets by - 395.8 m; - volume of sold services - by KZT4.7 bn; - cost of sold services - by KZT4.4 bn. Company's liabilities decreased by KZT3.5 bn relative to the year 2002, including: volume of floated bonds - by 6.4 bn, borrowed loans - by 1.1 bn and other liabilities (including revenues of future periods) - by 3.1 bn, that was partially covered by growth of accounts payable by 7.1 bn; Net income KazTransOil CJSC earned in 2003 decreased relative to the net income of the year 2002 by KZT4.4 bn. Company's primary activities: services on transportation of oil, mineral oils and water by pipelines, sea and railway transport. [2004-07-28]