Results of activity of Aktobemunai-finance OJSC (Kazakhstan) in I quarter 2004

/IRBIS, Galina Tsalyuk, August 12, 04/ - Aktobemunai-finance OJSC (Aktobe), whose shares are circulating in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with non-audited consolidated financial statement for I quarter 2004. The following indicators are consolidated result of the issuer's financial and economic activity in I quarter 2004, based upon the issuer's information (in th. KZT, unless otherwise specified): ----------------------------------------------------------- As of As of Change, Indicator Apr 1, 03 Apr 1, 04 % ---------------------------- --------- --------- ------- Authorized capital (paid) 1,300,000 1,300,000 0.0 Shareholders' equity 1,272,441 1,164,719 -8.5 Total assets 2,305,742 3,222,378 +39.8 Net working capital -103,903 350,712 +437.5 Accounts receivable 435,406 840,420 +93.0 Liabilities, total 870,250 1,757,368 +101.9 Attracted credits 645,261 1,245,805 +93.1 Accounts payable 116,088 495,212 +326.6 Minority stake 163,051 300,291 +84.2 Sales volume 254,292 290,754 +14.3 Cost of goods sold 246,709 252,409 +2.3 Expenses 49,914 71,218 +42.7 Net income (loss) -37,333 -14,868 -60.2 Book value of one share, KZT 97.88 89.59 -8.5 ----------------------------------------------------------- Relative to the first quarter 2003 shareholders equity of Aktobemunai-finance OJSC has decreased by KZT 107.7 m. as the result of increase of total sum of uncovered loss by 104.4 m and decrease of additional unpaid capital - 3.3 m. Other items recorded increase: - company's assets - by KZT 916.6 m as the result of increase of accounts receivable by KZT 405.0 m., investments - by 195.7 m., depreciated cost of fixed assets - by 372.2 m. and decrease of other assets - by 56.3 m.; - liabilities - by KZT 887.1 m., including: attracted credits - by KZT 600.5 m., accounts payable - by 379.1 m., while other liabilities fell by 92.5 m.; - sales volume - by KZT 36.5 m; - cost of goods sold - by KZT 5.7 m; - expenses of the period - by KZT 21.3 m. According to results of activity in I quarter 2004, net loss fell by KZT 22.5 m compared to similar period of 2003. Company's primary activities - production and sale of electrical energy, gas transportation and commercial activity. [2004-08-12]