Results of activity of KAZZINC JSC (Kazakhstan) in the I quarter 2005

/IRBIS, Galina Tsalyuk, July 15, 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 the I quarter 2005. The following indicators are results of the company's financial and economic activity for the I quarter 2005 (in th. KZT, unless otherwise specified): activity for the I quarter 2005 (in th. KZT, unless otherwise specified): ------------------------------------------------------------------------------ As of As of Change, Indicator Apr 1, 04 Apr 1, 05 % ------------------------------------------- ----------- ----------- ------- Authorized capital (paid) 20,643,659 20,643,659 0.0 Shareholders' equity (to minority interest) 56,796,082 68,436,352 +20.5 Total assets (net) 112,970,630 121,025,682 +7.1 Net working capital 7,855,595 16,870,939 +114.8 Accounts receivable (net) 42,407,203 47,071,054 +11.0 Total liabilities 56,174,548 52,543,776 -6.5 Borrowed loans 18,455,794 9,970,768 -46.0 Accounts payable 28,843,076 32,913,046 +14.1 Sales volume 22,042,766 22,404,025 +1.6 Prime cost of sales 9,984,293 11,493,409 +15.1 Net income for the year 7,548,396 5,062,470 -32.9 Balance cost of 1 share, KZT 2,751.26 3,315.13 +20.5 ------------------------------------------------------------------------------ Relative to the I quarter 2004 there is growth in: - company's shareholders' equity (to minority interest) - by KZT11.6 bn. as a result of increase of resulting sum undistributed income by 11.7 bn. with decrease of additional unpaid capital by 108.3 m.; - assets - by KZT8.1 bn., due to growth of net residual cost of fixed assets (including construction in process) - by 4.4 bn. and accounts receivable - by 4.7 bn., what was partially covered by decrease of other assets by 1.0 bn.; - sales volume - by KZT361.3 m.; - prime cost of sales - by KZT1.5 bn. Company's liabilities in comparison with the I quarter 2004 decreased by KZT3.6 bn., what was caused by decrease of borrowed loans by 8.5 bn. with increase of accounts payable by 4.1 bn. and other liabilities - by 784.3 bn. Net income earned by the company in the I quarter 2005, less its net income for corresponding period of 2004 by KZT2.5 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. [2004-07-15]