Results of activity of TNC Kazchrome JSC (Kazakhstan) for 2004

/IRBIS, Galina Tsalyuk, July 11, 05/ - TNC KAZCHROME JSC (Aktobe, hereinafter - company), whose shares are circulating in Kazakhstan stock exchange (KASE) official "B" listing category, provided KASE with nonaudited consolidated financial statement for 2004. The following indicators are results of company's 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) 7,903,485 7,903,485 0.0 Shareholders' equity 46,626,065 79,948,611 +71.5 Total assets 56,619,634 91,146,726 +61.0 Net working capital 11,982,956 39,472,318 +229.4 Accounts receivable 8,571,185 25,422,067 +196.6 Total liabilities 9,975,173 11,176,140 +12.0 Accounts payable 6,784,182 8,488,266 +25.1 Borrowed loans 1,068,370 110,598 -89.6 Sales volume 76,034,264 128,670,665 +69.2 Prime cost of sales 38,665,510 56,999,153 +47.4 Expenses of the period 16,805,639 19,728,569 +17.4 Net income for the year 12,599,244 34,060,768 +170.3 ------------------------------------------- ---------- ----------- ------- Calculated by company's data: ------------------------------------------- ---------- ----------- ------- Return on sales (ROS), % 49.15 55.70 +13.3 Return on equity (ROE), % 27.02 42.60 +57.7 Return on assets (ROA), % 22.25 37.37 +67.9 Net earnings (loss) per 1 share (EPS), KZT* 1,752.17 4,765.42 - Balance value of 1 share, KZT 5,899.43 10,115.61 +71.5 ----------------------------------------------------------------------------- * - net earning per 1 common share (EPS) for 2004 is calculated without dividends on privileged shares. Ratio of price to earning (P/E) was not calculated due to absence of market price of the company's common shares to the mentioned dates. Relative to 2003 there is growth in: - shareholders' equity of the company - by KZT33.3 bn. as a result of increase of undistributed income by 33.5 bn. with decrease of additional unpaid capital by 169.3 m.; - assets - by KZT34.5 bn., including: accounts receivable by - 16.9 bn., depreciated cost of fixed assets (including construction in process) - by 8.5 bn., money - by 4.0 bn., long term investments - by 2.7 bn. and inventory stocks - by 2.4 bn.' - liabilities - by KZT1.2 bn., what was caused by growth of accounts payable by 1.7 bn. and deferred taxes - by 454.6 m. with decrease of volume of borrowed loans by 957.8 m.; - sales volume - by KZT52.6 bn.; - prime cost of sales - by KZT18.3 bn.; - expenses of the period - by KZT2.9 bn. Net income earned by the company in 2004, exceeded its net income for 2003 by KZT21.5 bn. Company's primary activities - production of ferrous metals, extraction and concentration of ores for ferrous metallurgy. [2004-07-11]