Profit of Kazakhstan's Samruk-Energy exceeds $9M

Finance Materials 6 May 2019 11:57 (UTC +04:00)

Baku, Azerbaijan, May 6


In 2018 the net profit of Samruk-Energy amounted to 3.425 billion tenge opposed to the 2017 loss of 27.203 billion tenge, Trend reports via company’s financial statement for 2018.

The company’s profit before tax amounted to 12.726 billion tenge in the reporting period opposed to loss before tax worth 23.320 billion tenge in 2017.

The gross profit increased by 19.5 percent reaching 72.044 billion tenge, whereas the revenue increased by 18.4 percent and amounts to 260.4 billion tenge.

The impairment of investments and the company’s share in the profit of joint revenues and associated companies amounted to 9.752 billion tenge in 2018 opposed to 26.636 billion tenge of losses in 2017.

Financial expenditures increased by 42.3 percent and now amount to 42.211 billion tenge.

Company’s assets in 2018 increased by 3.5 percent and amount to 989.747 billion tenge, the capital increased by 0.1 percent and equals 480.012 billion tenge, liabilities increased by 6.9 percent and stand at 509.745 billion tenge.

Company’s long-term liabilities decreased by 11 percent and amount to 358.515 billion tenge, whereas the short-term liabilities doubled and now reach 151.230 billion tenge.

Samruk-Energy joint-stock company was established on April 18, 2007 by resolution of general meeting of founders in order to develop and implement a long-term state policy on upgrading of existing and introduction of new generating facilities.

The founders of the Company at the time of its establishment were "Kazakhstan holding for management of state assets Samruk JSC and KazTransGaz JSC.

(1 US dollar = 380.5 Kazakh tenge on May 6)