Results of activity of KAZZINC farm JSC (Kazakhstan) for 2004

/IRBIS, Galina Tsalyuk, July 14, 05/ - KAZZINC JSC (Ust-Kamenogorsk, hereinafter - company), whose common shares are circulating in Kazakhstan stock exchange (KASE) official "A" listing category, provided KASE with consolidated financial statement for 2004. The following indicators are results of the 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) 20,643,659 20,643,659 0.0 Shareholders' equity (to minority interest) 43,810,783 63,330,307 +44.6 Total assets (net) 81,752,074 94,947,271 +16.1 Net working capital 1,309,965 13,100,626 +900.1 Accounts receivable (net) 15,761,961 21,798,997 +38.3 Total liabilities 37,904,884 31,576,331 -16.7 Borrowed loans 17,831,537 12,774,449 -28.4 Accounts payable 11,537,837 9,070,384 -21.4 Sales volume 64,363,243 97,266,100 +51.1 Prime cost of sales 33,277,632 49,526,843 +48.8 Net income for the year 10,472,381 19,787,891 +89.0 ------------------------------------------- ---------- ---------- ------- Calculated by company's data: ------------------------------------------- ---------- ---------- ------- Return on sales (ROS), % 48.30 49.08 +1.6 Return on equity (ROE), % 23.90 31.25 +30.7 Return on assets (ROA), % 12.81 20.84 +62.7 Earnings per 1 share (EPS), KZT 507.29 958.55 +89.0 Price earnings ratio (P/E) - 1.10 - Balance cost of 1 share, KZT 2,122.24 3,067.78 +44.6 ---------------------------------------------------------------------------- Relative to 2003 there is growth in: - company's shareholders' equity to minority interest - by KZT19.5 bn. as a result of increase of resulting sum undistributed income for the same amount; - assets - by KZT13.2 bn., including: net residual cost of fixed assets (including construction in process) - by 6.3 bn., accounts receivable - by 6.0 bn. and other assets - by 824.4 m.; - sales volume - by KZT32.9 bn.; - prime cost of sales - by KZT16.2 bn. Company's liabilities in comparison with 2003 decreased by KZT6.3 bn., what was caused by decrease of borrowed loans by 5.0 bn. and accounts payable - by 2.5 bn. with growth of other liabilities by 1.2 bn. Net income earned by the company in 2004, exceeded its net income for 2003 by KZT9.3 bn. Company's primary activities - exploration and prospecting works, extraction and processing of non-ferrous ores, rare and precious metals, production of non-ferrous metal concentrates, including products containing precious metals, production of non-ferrous, rare and precious metals and their alloys, production of electrical and heat energy, other types of energy resources, sale of electrical power, non-ferrous, rare and precious metals, their alloys and non-ferrous metals concentrates, including precious at domestic and foreign markets, production of consumer goods, commercial, intermediary and foreign economic activity, wholesale and retail trade. [2004-07-14]