Results of activity of Kazakhstan Kagazy JSC (Kazakhstan) for 2004

/IRBIS, Galina Tsalyuk, July 1, 05/ - KAZAKHSTAN KAGAZY JSC (Almaty oblast, Karasai region, Abai village, hereinafter - company), whose bonds are circulating in Kazakhstan stock exchange's official "A" listing category, provided KASE with the financial statements for 2004. The following indicators are results of its financial and economic activity for 2004 (in th. KZT, unless otherwise specified): ------------------------------------------------------------ As of As of Change, Indicator Jan 1, 04 Jan 1, 05 % ----------------------------- --------- --------- ---------- Authorized capital (paid) 80 657,039 +821,198.8 Shareholders' equity 186,263 2,659,542 +1,327.8 Total assets 3,972,076 7,096,286 +78.7 Net working capital -174,573 54,277 -131.1 Accounts receivable 757,695 1,511,764 +99.5 Total liabilities 3,785,813 4,436,745 +17.2 Accounts payable 1,226,865 347,028 -71.7 Borrowed loans 2,558,947 4,089,717 +59.8 Sales volume 1,942,438 2,241,430 +15.4 Prime cost of sales 1,366,285 1,481,919 +8.5 Net income for the period 261,079 326,529 +25.1 ----------------------------- --------- --------- ---------- Calculated by company's data: ----------------------------- --------- --------- ---------- Return on assets (ROA), % 29.66 33.89 +14.2 Return on equity (ROE), % 140.17 12.28 -91.2 Return on assets (ROA), % 6.57 4.60 -30.0 ------------------------------------------------------------ Relative to 2003 there is growth in: - shareholders' equity of the company - by KZT2.5 bn., as a result of revaluation of fixed assets for the amount 1.5 bn., increase of paid authorized capital by 656.9 m., resulting sum of undistributed profit - by 340.6 m.; - assets - by KZT3.1 bn., what was caused by growth of depreciated cost of fixed assets (including construction in process) by 2.4 bn. and accounts receivable - by 754.1 m. with decrease of other assets by 51.8 m.; - liabilities - by KZT650.9 m. due to increase of volume of borrowed loans by 1.5 bn., what was partially compensated by accounts payable by 879.8 m.; - sales volume - by KZT299.0 m.; - prime cost of sales - by KZT115.6 m.; Net income earned by the company in 2004 exceeded its net income for 2003 by KZT65.5 m. The main activities of the company - production of paper. [2004-07-01]