Results of activity of KazTransOil JSC (Kazakhstan) for the first 6 months of 2004

/IRBIS, Galina Tsalyuk, September 21, 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 6 months of 2004. The following indicators are result of the issuer's financial and economic activity for the period, based upon the issuer's data (th. KZT, unless otherwise specified): -------------------------------------------------------------------- As of As of Indicator Jul 1, 03 Jul 1, 04 Change,% -------------------------------- ----------- ----------- -------- Authorized capital 32,884,575 32,884,575 0.0 Shareholders' equity 145,928,836 153,333,876 +5.1 Total assets 191,381,314 195,772,974 +2.3 Net working capital 55,625,885 44,568,382 -19.9 Accounts receivable (net) 22,103,717 19,081,891 -13.7 Liabilities, total 45,452,478 42,439,098 -6.6 Borrowed loans (excluding bonds) 2,622,468 1,612,345 -38.5 Accounts payable 12,723,027 20,193,251 +58.7 Issued bonds 26,640,000 20,467,500 -23.2 Sales 29,481,056 29,199,766 -1.0 Cost of goods sold 15,806,979 16,777,084 +6.1 Net income 7,667,788 7,154,344 -6.7 -------------------------------------------------------------------- Relative to similar period of 2003 following changes have been recorded: - shareholders' equity increased by KZT 7.4 bn as a result of increase of retained earnings - 13.0 bn, whereas there took place decrease of additional unpaid capital by 5.6 bn; - assets increased by KZT 4.4 bn, including depreciated cost of fixed assets - 1.3 bn and construction in progress - by 10.0 bn, whereas there took place decrease of accounts receivable - 3.0 bn, money and its equivalents - by 3.7 bn, and other assets by - 304.7 m; - liabilities decreased by KZT 3.0 bn, including: volume of floated bonds - by 6.2 bn, borrowed loans - by 1.0 bn and other liabilities (including deferred revenues) - by 3.3 bn, that was partially covered by growth of accounts payable by 7.5 bn; - sales volume fell by KZT 281.3 m; - cost of goods sold increased by KZT 970.1 m. Net income KazTransOil CJSC earned in first 6 months of 2004 decreased relative to similar period of 2003 by KZT 513.4 m. Company's primary activities: oil transportation services, oil and water pipelines, sea and railway transportation. [2004-09-21]