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Kazakh Samruk-Kazyna fund’s profit increases

Business Materials 27 April 2017 20:45 (UTC +04:00)

Baku, Azerbaijan, April 27

By Elena Kosolapova – Trend:

Kazakhstan's National Welfare Fund Samruk-Kazyna’s consolidated net profit amounted to 455 billion tenge in 2016 (312.4 tenge = $1), which is by 292 billion tenge more than in 2015, the fund said Apr. 27.

The consolidated revenue of the fund amounted to about 4.1 trillion tenge, an increase by 32 percent compared to the same period of last year.

“A considerable growth in revenue is the result of the sale of additional crude oil in the second half of 2016 during the increase in quotations, as well as the sale of refined gold and oil and gas processing products,” the fund said.

The consolidated assets of the fund's group amounted to more than 22.4 trillion tenge as of December 31, 2016, which is by 1.6 trillion tenge or 7.5 percent more compared to the same period of 2015.

EBITDA and EBITDA margin in 2016 totaled 982 billion tenge and 20.6 percent, respectively, while similar indicators for the end of 2015 amounted to 639 billion tenge and 17.8 percent.

The fund's strategic indicator - the net asset value increased by 7 percent compared to the last year and reached more than 6.8 trillion tenge.

Thus, the net profit of NC KazMunayGas JSC in 2016 amounted to 306 billion tenge.

Kazakhstan’s Temir Zholy JSC received a net profit in the amount of 41 billion tenge.

The consolidated profit of Samruk-Energy JSC in 2016 was 18 billion tenge.

According to the Samruk-Kazyna's forecast, in the next five years oil and gas condensate production in the group of the fund’s companies will increase by 8.6 percent, cargo freight turnover - by 17 percent and passenger transportation - by 36 percent.

Samruk-Kazyna group includes the biggest Kazakh companies in the oil and gas, transport and logistics sectors and the chemical and nuclear industry, mining and metallurgy, energy, machinery building and real estate sectors.

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