BAKU, Azerbaijan, August 19. Consolidated revenue of Kazakhstan’s Kazatomprom National Atomic Company (NAC) was 493.7 billion tenge ($1.03 billion) during the first half of 2022, an increase of 110 percent compared to the same period of 2021, Trend reports citing the company.
The increase is mainly due to:
- a significant increase in sales volume in the first half of 2022 in comparison to the same period of 2021 mainly related to the timing of customer requirements and the resulting differences in the timing of deliveries for first halves of 2022 and 2021;
- growth in the average realized price associated with an increase in the market spot price for uranium; and
- weakening of the KZT against the USD in the first half of 2022.
Operating profit in the first half of 2022 was 172.8 billion tenge ($363.06 million), an increase of 182 percent compared to the same period of 2021. The increase was mainly due to higher revenues in 2022 as indicated above.
Net profit in the first half of 2022 was 167.3 billion tenge ($351.6 million), an increase of 188 percent compared to the same period of 2021.
The increase was mainly due to higher operating profit in the first half of 2022 as indicated above. There were no significant adjusting one-time effects during the first halves of 2022 and 2021. Profit for the period attributable to non-controlling interest increased significantly during the first half of 2022 compared to the same period of 2021, impacted by the sale of a 49 percent share of “Ortalyk” LLP in July 2021 in addition to the explanations stated above.
Adjusted EBITDA totalled 224.4 billion tenge ($471.5 million) in the first half of 2022, an increase of 126 percent compared to the same period of 2021, while attributable EBITDA was 182.8 billion tenge ($384.08 million) in the first half of 2022, an increase of 89 percent compared to the same period of 2021. The changes were mainly driven by higher operating profit.
Operating cash flows for the first half of 2022 totalled 256.2 billion tenge ($538.2 million), a significant increase compared to 80.8 billion tenge ($169.8 million) during the same period of 2021 mainly due to:
- a 425.6 billion tenge ($890.5 million) increase in cash receipts from customers during the first half of 2022 compared to the same period of 2021, due to differences in the timing of the sales schedule for the first halves 2021 and 2022, growth in the average realized price associated with an increase in the market spot price for uranium and the weakening of the KZT against the USD;
- offset by a 188.8 billion tenge ($396.6 million) increase in payments for accounts payable to suppliers during the first half of 2022 mostly due to change in timing of the purchases schedule for the first halves 2021 and 2022 and growth in the average purchase price associated with an increase in the market spot price for uranium and the weakening of the KZT against the USD;
- a 31.2 billion tenge ($65.3 million) increase in income tax paid due to the increase in profit before tax.