Results of activity of Mining and smelting concern Kazakhaltyn JSC (Kazakhstan) for 2004

/IRBIS, Galina Tsalyuk, October 7, 05/ - Mining and smelting concern Kazakhaltyn JSC (Spepnogorsk, hereinafter - company), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with financial statement for 2004. Following indicators are result of the company's financial and economic activity in 2004, based upon its data (th. KZT, unless otherwise specified): ---------------------------------------------------------------- As of As of Indicator Jan 1, 04 Jan 1, 03 Change,% -------------------------------- --------- --------- -------- Authorized capital (paid) 1,538,711 1,538,711 0.0 Shareholders' equity 1,589,065 3,153,201 +98.4 Total assets 3,515,376 6,797,793 +93.4 Net working capital 371,324 1,060,561 +185.6 Accounts receivable 1,202,800 1,602,759 +33.3 Total liabilities 1,926,311 3,644,592 +89.2 Borrowed loans (excluding bonds) 1,490,536 1,547,957 +3.9 Accounts payable 435,775 334,343 -23.3 Issued bonds - 1,762,292 - Volume of sales 1,526,355 1,143,150 -25.1 Prime cost of sales 1,097,520 838,844 -23.6 Net income for the year 72,079 69,872 -3.1 -------------------------------- --------- --------- -------- Calculated by company's data: -------------------------------- --------- --------- -------- Return on sales (ROS), % 28.10 26.62 -5.3 Return on equity (ROE), % 4.54 2.22 -51.2 Return on assets (ROA), % 2.05 1.03 -49.9 ---------------------------------------------------------------- Relative to year 2003 there is growth of: - shareholders' equity of the company - by KZT1.6 bn. as the result of increase of additional unpaid capital by 1.5 bn. and resulting sum of undistributed income - by 69.9 m.; - assets - by KZT3.3 bn., including: residual value of fixed assets (including construction in process) - by 2.7 bn., accounts receivable - by 400.0 m. and other assets - by 136.3 m.; - liabilities - by KZT1.7 bn., what was caused by floatation of shares for the amount 1.8 bn. and increase of volume of borrowed loans (excluding bonds) by 57.4 m. with decrease of accounts payable by 101. 4 m.; The company's sales volume in comparison with 2003 decreased by KZT383.2 m., prime cost of sales - by KZT258.7 m. Net income the company earned in 2004 is less its net income of 2003 by KZT2.2 m. Company's primary activities - exploration and prospecting works, extraction and processing of gold-containing ore, production of gold-containing goods, manufacture, storage and sale of gold and other precious metals, export of gold and other precious metals and precious stones, jewelry production, operations with refined precious metals and precious stones in physical condition, transportation, organization of scientific and development works and development projects. [2005-10-07]