Results of activity of AtMGG OJSC (Kazakhstan) in 9 months of 2004

/IRBIS, Galina Tsalyuk, December 29, 04/ - Atyraumunaigasgeologiya OJSC (AtMGG OJSC, Atyrau), whose bonds are circulating in the official "B" listing category of Kazakhstan stock exchange (KASE), provided KASE with the financial statement for 9 months of 2004. Following indicators are result of the issuer's financial and economic activity in 9 months of 2004, based upon the issuer's data (th. KZT): ------------------------------------------------------------- As of As of Indicator Oct 1, 03 Oct 1, 04 Change,% -------------------------------- --------- --------- -------- Authorized capital (paid) 140,819 140,819 0.0 Shareholders' equity 279,119 282,230 +1.1 Total assets 582,334 934,704 +60.5 Net working capital 211,842 77,789 -63.3 Accounts receivable 201,442 244,114 +21.2 Total liabilities 303,215 652,474 +115.2 Accounts payable 157,115 86,811 -44.7 Borrowed loans (excluding bonds) 0 403,828 - Issued bonds 146,100 146,100 0.0 Sales volume 754,252 798,174 +5.8 Cost of goods sold 622,237 705,821 +13.4 Net income for the period 37,863 10,350 -72.7 ------------------------------------------------------------- Relative to 9 months of 2003 following accounts increased: - shareholders' equity - by KZT3.1 m. in connection with increase of total amount of undistributed profit by 17.7 m. with decrease of additional unpaid authorized capital by 14.6 m.; - assets - by KZT2.6 bn., because of appearance of other current assets amounting to 2.3 bn., equal to growth of authorized capital, and expenses of future periods amounting to 194.8 m., and also because of growth of inventory by 109.8 m. and other assets - by 84.3 m., whereas accounts receivable fell by 108.4 m.; - liabilities - by KZT352.4 m., including: inventiory reserves - by 118.5 m., depreciated cost of fixed assets by (including construction in process) - by 117.9 m., accounts receivable - by 42.7 m., cash - by 39.7 m. and other assets - by 33.6 m.; - liabilities - by KZT349.2 m., what was caused by attraction of short term loans (excluding bonds) - for the amount of 403.8 m. and growth of charged expenses by 15.7 m. with decrease of accounts payable by 70.3 m.; - sales volume - by KZT43.9 m.; - cost of sales - by KZT83.6 m. Net income AtMGG OJSC earned in 9 months of 2004 has decreased by KZT27.5 m. relative to similar period of 2003. Company's primary activities - assembling and dismantling of drilling and oil and gas industry equipment; drilling of oil and gas wells; underground and major repairs of oil and gas wells; designing of oil and gas wells building; testing and development of wells and other. [2004-12-29]