Results of activity of Aktobemunai-finance OJSC (Kazakhstan) in 9 months of 2004

/IRBIS, Galina Tsalyuk, December 24, 04/ - Aktobemunai-finance OJSC (Aktobe), whose common shares are circulating in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with non-audited consolidated financial statement for 9 months of 2004. The following indicators are consolidated result of the issuer's financial and economic activity in 9 months of 2004, based upon the issuer's information (in th. KZT, unless otherwise specified): ----------------------------------------------------------------- As of As of Change, Indicator Oct 1, 03 Oct 1, 04 % --------------------------------- --------- --------- -------- Authorized capital (paid) 1,300,000 1,300,000 0.0 Shareholders' equity 1,223,575 1,223,455 -0.01 Total assets 2,819,437 4,128,363 +46.4 Net working capital 731,300 181,395 -75.2 Accounts receivable 817,599 1,135,835 +38.9 Liabilities, total 1,336,811 2,604,677 +94.8 Attracted loans 1,075,088 1,415,684 +31.7 Accounts payable 261,723 1,188,993 +354.3 Minority stake 259,051 300,231 +15.9 Sales volume 1,012,637 1,074,326 +6.1 Cost of goods sold 808,006 879,462 +8.8 Income from nonoperating activity 3,680 60,736 +1,550.4 Net income (loss) for the period (87,659) 45,078 +151.4 Book value of 1 share, KZT 94.12 94.11 -0.01 ----------------------------------------------------------------- Relative to 9 months of 2003 shareholders equity of Aktobemunai-finance OJSC has decreased by KZT120.0 m. as a result of decrease of additional unpaid capital by 3.3 m., reserve capital - by 1.2 m. and total amount of uncovered loss by 4.4 m., but there is also increase in: - company's assets - by KZT1.3 bn., what is caused by growth of depreciated cost of fixed assets (including construction in process) by 948.8 m., investments - by 168.9 m., and accounts receivable - by 318.2 m. with decrease of inventory reserves by 86.5 m. and other assets - by 40.5 m.; - liabilities - by KZT1.3 bn., including: attracted loans - by KZT 340.6 m., accounts payable - by 927.3 m.; - sales volume - by KZT61.7 m; - cost of goods sold - by KZT71.4 m; - expenses of the period - by KZT57.0 m. In 9 months of 2004 Aktobemunai-finance OJSC earned net profit in the amount of KZT45.1 m. against KZT87.6 m. of loss of the similar period of 2003. Company's primary activities - production and sale of electrical energy, gas transportation and commercial activity. [2004-12-24]