Kazakhstan Kagazy PLC / Half-yearly Results
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6 August 2013
KAZAKHSTAN KAGAZY PLC ANNOUNCES FINANCIAL RESULTS FOR 2Q 2013
Almaty, Kazakhstan - Kazakhstan Kagazy PLC (KAG LI) (the 'Group') announces
pits non-audited consolidated financial results for the 6 months period
ended 30 June 2013 (the 'Period').
Financial highlights
- Group revenue of US$ 40.6 million (US$ 40.0 million a year ago)
- Gross profit of US$ 18.6 million (US$ 18.3 million a year ago)
- Gross margin of 45.9% (45.8% a year ago)
- EBIDTA of US$ 10.1 million (US$ 11.7 million a year ago). Decrease of
EBITDA is mainly attributable to the increase in SG&A, particularly in
transportation costs. The Group has made planned salary revision in
order to ensure adequate market compensation for its employees.
- EBIT of US$ 7.9 million (US$ 9.4 million a year ago)
- Operating Cash Flows of US$ 12.6 million (US$ 11.3 million a year ago)
Paper Business
In millions of USD |
6 months of 2013 |
6 months of 2012 |
Revenue |
31.7 |
31.2 |
Gross Profits |
14.3 |
13.8 |
Gross Profit Margin |
45.1% |
44.2% |
Production of paper and cardboard for the Period increased to 26.8 thousand
ton from 25.5 thousand ton compared to the same period of 2012. Average
selling price made US$ 571 per ton (US$ 552 a year ago). The selling price
was affected by the upward trend in the global commodity market.
Corrugated packaging made 47.7 million square meters (47.5 million square
meters a year ago). Average selling price of one thousand square meters of
corrugated packaging was US$ 561 (US$ 576 a year ago). Downward trend in
the price is the result of competition in the market that became open for
new suppliers as the country joined the Customs Union.
The sound achievement of the Group for the Period was the Certificate
granted by the Forest Stewardship Council for the recognition of the
Group's leadership in the development of the Green Economy. This is a first
Certificate granted to Kazakh company ever. This certificate is another yet
evidence of the increased trust from the clients, partners and
international financial institutions to the Group.
Logistics' Business
In millions of USD |
Revenue |
8.8 |
6.9 |
Gross Profits |
4.5 |
3.6 |
Gross Profit Margin |
51.0% |
51.6% |
The group was continuously building up the clientele in the Logistics
Business. Occupancy rate of Class A warehouses increased by 12% compared to
the same Period of 2012 and made 85%. Class B warehouses occupancy rate
remain at the same 97% level.
The pharmaceutical warehouses of the Group has successfully passed Bayer
company's international audit for the compliance with the industry's best
international standards.
The decrease of the Gross Profit Margin in the Logistics Business is
attributable to the decrease in the Container Terminal's turnover.
Thereby the major operational ratios of the Group remain stable for the
Period. This is the prove that Group's business model is fairly resistant
to the aggressive business environment.
***
Financial report is available at http://kazakhstankagazy.com/en/investor-relations/reports.html/
The content of this document includes forward-looking statements. These
relate to Kazakhstan Kagazy's future prospects, developments and
strategies, including statements regarding target returns. Forward-looking
statements are identified by their use of terms and phrases such as
'believe', 'could', 'would', 'envisage', 'estimate', 'intend' 'seek',
'may', 'plan', 'will' or the negative of those, variations or comparable
expressions, including references to assumptions. These statements are
based on Kazakhstan Kagazy's current beliefs, assumptions and expectations
of its future performance, and are subject to risks and uncertainties
because they relate to events and depend on circumstances that may or may
not occur in the future. Accordingly, these beliefs, assumptions and
expectations can change as a result of many possible events or factors that
may cause Kazakhstan Kagazy's business, financial condition, liquidity,
results of operations and actual returns to vary materially and target
returns to be revised from those expressed or implied in the
forward-looking statements. None of the data in this statement has been
audited and where any reference is made in this statement to the past
performance of investments by persons associated with Kazakhstan Kagazy or
other investments, you should bear in mind that such information is not
necessarily indicative of the future performance of the relevant
investments or of Kazakhstan Kagazy's future performance.
Contact: |
Mr. Sadyr Shaguzhayev |
+7 727 244 02 08 |
Head of Investor Relations |
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|
Mr. Malik Kushmukhanov |
+7 727 312 02 85 |
Press Service |
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|
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Kazakhstan Kagazy PLC
33-37 Athol Streetb r
IM1 1LB Douglas
Isle of Man
+7-727-244-87-87b r
+7-727-244-87-82
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www.kazakhstankagazy.com
US48667M2035
London
IR
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Aug 08, 2013 19:09:42 |
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