Results of activity of KazTransOil JSC (Kazakhstan) for I quarter 2004

/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 the first quarter 2004. The following indicators are result of the issuer's financial and economic activity in the first quarter 2004, based upon the issuer's data (th. KZT, unless otherwise specified): -------------------------------------------------------------------- As of As of Indicator Apr 1, 03 Apr 1, 04 Change,% -------------------------------- ----------- ----------- -------- Authorized capital 32,884,575 32,884,575 0.0 Shareholders' equity 143,138,978 150,590,651 +5.2 Total assets 189,732,840 189,836,101 +0.1 Net working capital 53,808,007 45,284,575 -15.8 Accounts receivable (net) 21,366,972 19,588,147 -8.3 Liabilities, total 46,593,862 39,245,450 -15.8 Borrowed loans (excluding bonds) 2,913,377 1,845,652 -36.6 Accounts payable 13,063,840 16,401,011 +25.5 Issued bonds 27,318,600 20,832,000 -23.7 Sales 15,031,173 14,196,925 -5.6 Cost of sold services 6,896,497 7,721,992 +12.0 Net income 4,877,932 4,399,716 -9.8 -------------------------------------------------------------------- Relative to I quarter 2003 there increase of: - shareholders' equity - by KZT 7.5 bn as the result of increase of total sum of undistributed income by 13.3 bn, whereas there took place decrease of additional unpaid capital by 5.8 bn; - assets - by KZT 103.3 m, including depreciated cost of fixed assets - 1.1 bn and construction in process - by 6.5 bn, whereas there took place decrease of accounts receivable by 1.8 bn, money and its equivalents - by 5.3 bn, and other assets by - 386.2 m; - liabilities decreased by KZT 7.3 bn, including: volume of floated bonds - by 6.5 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 3.3 bn; - volume of sold services - by KZT 834.2 m; - cost of sold services - by KZT 825.5 m. Net income KazTransOil CJSC earned in I quarter 2004 decreased relative by KZT 478.2 bn. Company's primary activities: oil transportation services, oil and water pipelines, sea and railway transportation. [2004-07-28]