Baku, Azerbaijan, Oct. 26
By Rashid Shirinov – Trend:
In the first 9 months of 2018, Kazakhstan’s National Welfare Fund Samruk-Kazyna has beaten the planned financial indicators. This was announced at a meeting of the Fund’s CEO Akhmetzhan Yessimov with the top management of portfolio companies, the Fund said in a statement.
In the reported period, the Fund netted 825.3 billion tenge against the annual plan for 533 billion tenge, which is two times more than in the same period of the previous year. Significant improvement in the financial performance is caused by increase in production indicators and positive dynamics of oil prices.
The operating profit (NOPLAT) for the reported period amounted to 635.7 billion tenge, which is 336 billion tenge more than in the same period of 2017, the Fund noted.
Electricity production has increased by 17 percent, from 20.2 to 23.6 billion kilowatt hours, while coal production has grown by 13 percent reaching 32.6 million tons.
Oil and gas condensate production has amounted to 17.6 million tons. Oil refining has grown by 8 percent reaching 9.9 million tons.
Rail cargo turnover has increased by 8 percent from 150 to 162 billion ton-kilometers.
It is worth noting that in April this year Kazakh President Nursultan Nazarbayev approved a new Development Strategy of Samruk-Kazyna for 2018-2028, according to which one of the key objectives and mandates of the Fund is the effective management of portfolio companies and alignment of their performance with international peers.
(367.49 KZT = 1 USD on Oct. 26)