Kazakhstan Kagazy PLC / 3rd Quarter Results
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27 November 2013
KAZAKHSTAN KAGAZY PLC ANNOUNCES FINANCIAL RESULTS FOR 3Q 2013
Almaty, Kazakhstan - Kazakhstan Kagazy PLC (KAG LI) (the 'Group') announces
its non-audited consolidated financial results for the 9 months period
ended 30 September 2013 (the 'Period').
Financial highlights
- Group revenue of US$ 63.0 million (US$ 61.2 million a year ago)
- Gross profit of US$ 29.3million (US$ 28.5 million a year ago)
- Gross margin of 46.6% (46.6% a year ago)
- EBIDTA of US$ 17.1 million (US$ 18.5 million a year ago).
- EBIT of US$ 11.1 million (US$ 15.0 million a year ago)
- Operating Cash Flows of US$ 16.6 million (US$ 17.7 million a year ago)
EBITDA has fallen due to an increase in transportation costs, mainly
attributable to a significant increase in railway tariffs.
Operational highlights
Paper Business
In millions of USD |
9 months of 2013 |
9 months of 2012 |
Revenue |
49.7 |
48.4 |
Gross Profits |
22.6 |
22.1 |
Gross Profit Margin |
45.5% |
45.6% |
Production of paper and cardboard for the Period increased to 41.2 thousand
ton from 39.3 thousand tons compared to the same period of 2012. Average
selling price made US$ 585.9 per ton (US$ 558.2 a year ago). The selling
price grew by the upward trend in the global paper market.
Corrugated packaging made 72.7 million square meters (74.1 million square
meters a year ago). Average selling price of one thousand square meters of
corrugated packaging was US$ 558.9 (US$ 572.6 a year ago). Downward trend
in the production volume is the result of aggressive pricing from
competitors.
During the Period the Group has produced bleached cardboard for first time
in Kazakhstan. This demonstrates our Papers business ability to innovate
and to maintain its product leadership in the Kazakh market.
Logistics' Business
In millions of USD |
9 months of 2013 |
9 months of 2012 |
Revenue |
13.2 |
12.9 |
Gross Profits |
6.6 |
6.4 |
Gross Profit Margin |
50.4% |
49.9% |
An average occupancy rate of Class A warehouses increased by 11% compared
to the same Period of 2012 and made 86%. Class B warehouses occupancy rate
made 96% level and increased from 94%.
The major operational ratios of the Group remain stable for the Period,
testament to the resilience of the Group's business model despite increased
competition.
***
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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Language: |
English |
Company: |
Kazakhstan Kagazy PLC |
33-37 Athol Street |
IM1 1LB Douglas |
Isle of Man |
Phone: |
+7-727-244-87-87 |
Fax: |
+7-727-244-87-82 |
E-mail: |
This email address is being protected from spambots. You need JavaScript enabled to view it.
|
Internet: |
www.kazakhstankagazy.com |
ISIN: |
US48667M2035 |
Listed: |
London |
Category Code: |
QRT |
LSE Ticker: |
KAG |
Sequence Number: |
1785 |
Time of Receipt: |
Nov 27, 2013 09:55:48 |
End of Announcement |
EquityStory.RS, LLC News-Service |