Key indicators of activities

  • 2015

     

    Extraction and the price of natural uranium in the world in 2015

    • In 2015, the average value (TradeTech and UxC) weekly indicator of the spot price of natural uranium was $ 36.80 / funt U3O8 and long-term uranium price $ 46.70 / lb U3O8.
    • According to WNA data in 2015, the global uranium extraction amounted to 60.5 thousand tons.
    • At the end of 2015 Kazakhstan takes the leading place in the world in uranium extraction, advanced Canada and Australia.
    • In 2015, Kazakhstan, Canada and Australia extracted about 70% of total world uranium extraction (39%, 22% and 9%, respectively).
    • In 2015 uranium extraction of “NAC "Kazatomprom” JSC was 12.9 thousand tons or 21% of world uranium extraction
    • The main competitors of "NAC "Kazatomprom" JSC in the uranium market are:
      Cameco - 10.9 thousand tons, 18%;
      AREVA - 9.4 thousand tons, 16%;
      Rosatom (ARMZ production and UraniumOne) - 7.8 thousand tons, 13%.

    Leading uranium mining countries

    Leading uranium mining companies

    TOTAL:
    60 500
    TONS
    URANIUM

    Income from sale

    • Income from the sale of the entire production for 12 months 2015 was 397 766 million tenge, which is higher indicator in 2015 by 23%.
    • The main influence on the increase in profitability in 2015, had a growth rate of the tenge / US dollar.
    • The bulk of the revenue the Company receives from sales of uranium products, in 2015 the figure was 71% of total revenue, or 282 638 million tenge.
    • 100% of uranium production "NAC "Kazatomprom" JSC is exported.
    • The main categories of consumers - is the world's largest nuclear industry companies.
    • In 2015, the main sources of revenue by geography were China (30%), Kazakhstan (23%) and the USA (19% of total revenue).
    • Incomes in Kazakhstan received from the sale of energy, well drilling services, transportation and other services.

    Structure of income by segments

     

    Indicators of financial stability and liquidity

    • At the end of 2015 indicator of EBITDA compared to 2014 year has changed significantly (an increase of 95% or 61.9 billion tenge) and amounted to 126.9 billion tenge.
    • In 2015 the Company profitability increased mainly due to growth in the US dollar exchange rate against the tenge.
    • Indebtedness for loans in US dollars for the end of 2015 decreased by 32% (242 million US dollars) compared with the 2014 year.
    • The main indicators of financial stability, defined by creditors and management of debt Policy and financial stability of "Samruk-Kazyna" JSC, are:
      financial obligations to equity < 1.0 (0.51);
      financial obligations to EBITDA < 3.5 (1.89).
    • In order to maintain financial stability, solutions for attracting new foreign borrowings made under the supervision of the financial covenants.
    • Liquid funds at December 31, 2014 amounted to 68 billion tenge (money and short-term deposits).
    • Financial obligations at the end of 2014 amounted to 240 billion tenge, of them:
      loans to 173 billion tenge;
      guarantee of 67 billion tenge.
    • Indebtedness for loans in US dollars for the end of 2015 decreased by 32% (242 million US dollars) compared with the 2014 year. At the same time, the debt of the equivalent in national currency increased by 26% (36 bln.), due to the devaluation of the tenge in 2015.

    The investment program in 2015

    • Investment expenditures in 2015 amounted to 31.4 billion tenge, of which the most significant:
      4.8 billion tenge - Zhalpak field development and activation of the plant construction for the production of photovoltaic plates;
      11.2 billion tenge - renewal of fixed assets and intangible assets;
      12.9 billion tenge - evaluation and exploration work;
      2 billion tenge - financial investments.
    • In addition to uranium activities, the Company has funded projects of alternative and renewable energy, as well as the production of rare earth and rare metal products.
    • The financing of the investment program carried out mostly due to own resources.

    Key performance indicators
    (Millions of tenge)

    Indicator 2015 year 2014 year
    Change, %
    EBITDA 126 919 65 257  95%
    Income from sale and
    services rendered
    397 766 322 745  23%
    Income from the sale
    of uranium products
    282 638 223 124  27%
    Cost of sales
    294 404 258 616  14%
    Operating profit
    73 591 39 783  85%
    Profit for the year
    36 501 15 249  139%
    Comprehensive income related
    to the owners of "NAC "Kazatomprom" JSC
    55 635 17 672  215%
    Cash and their equivalents
    at the end of year
    55 869 29 432  90%
    Credits and loans
    172 621 137 072  26%
    CAPEX
    31 359 49 489  -37%
    Dividends declared
    2 323 5 386  -57%
    Extraction of uranium, in total,
    tons
    23 806 22 829  4%
    Extraction of uranium,
    on share in all SAO,
    tons
    12 851 13 627  -7%
  • 2014

     

    Extraction and the price of natural uranium in the world in 2014

    • In 2014 году average spot price was 33,42 $/lbU3O8, and average long-term price - 46,45 $/lbU3O8.
    • According to WNA world uranium production in 2014 will be 56,2 kilotons.
    • Following the results of 2014, Kazakhstan is a world leader in uranium production, being ahead of Canada and Australia.
    • In 2014 Kazakhstan, Canada and Australia produced about 66% of the total global uranium production (41%, 16% and 9% accordingly).
    • Kazatomprom uranium production in 2014 was 13,6 thous tons or 24% of the global uranium production.
    • Principal competitors of Kazatomprom in the uranium market are:
      Cameco - 8,9 thous tons, 16%;
      Rosatom (production by ARMZ and UraniumOne) – 6,9 thous tons, 12%;
      AREVA – 6,5 thous tons, 12%.

    Leading countries-producers

    Leading companies-producers

    Total:
    56 200
    kilotons

    Product sales revenue

    • Sales revenue of the whole product for 12 months of 2014 was KZT 322 745 mln, exceeding 2013 results by 12%
    • Revenue in 2014 increased due to growth of sales volume and KZT devaluation in February 2014.
    • Company’s bulk of revenue is gained from uranium products sales, which is 69% of the total revenue or KZT 223 124 mln.
    • 100% of Kazatomprom’s uranium products is exported.
    • Major consumers are the world’s largest nuclear companies.
    • In 2014 four major revenue sources according to geography were Kazakhstan (25%), China (23%) and USA(17% of the total revenue).
    • In Kazakhstan the revenue was gained from the sales of energy sources, well drilling services, transport and other services.

    Segmented sales structure

    Indicators of financial stability and liquidity

    • Following the results of 2014, EBITDA vs. 2013 has changed insignificantly (5,69% decrease or KZT 3 939 mln) and was KZT 65 257 mln.
    • Despite the rapid fall in international prices in natural uranium market, in 2014 the Company’s revenue performance in KZT increased due to growth of sales volumes and US dollar exchange rate to KZT.
    • Within the framework of earning capacity management, Kazatomprom takes measures to reduce and optimize operational and investment expenses.
    • Major indices of financial stability, defined by Lenders and Debt management policy of“Samruk-Kazyna” JSC are :
      Financial liability to capital < 1,0 (0,43);
      Financial liability to EBITDA < 3,5 (2,77).
    • In order to maintain financial stability the decisions on raising of new external borrowings are taken under control of financial covenants.
    • As of December 31, 2014, liquid funds were KZT 32 billion (cash and short-term deposits)
    • At year-end 2014 financial obligations amounted to KZT181 billion including:
      loans – KZT 137 billion (including eurobonds to the amount of US $500 mln.);
      guarantees – KZT44 billion.
    • Loan indebtedness, expressed in US $ at year-end 2014 decreased by 4% (by US $ 42 mln.) vs. 2013. Indebtedness in national currency equivalent increased by 12% (by KZT 16 bln), due to devaluation of KZT early in the year.

    Key performance indicators
    (Millions of tenge)

    Indicator 2014 year 2013 year
    Change, %
    EBITDA 65 257 69 196  -6%
    Income from sale and
    services rendered
    322 745 288 283 12%
    Income from the sale
    of uranium products
    223 124 189 874  18%
    Cost of sales
    258 616 229 905  12%
    Operating profit
    39 783 25 117  58%
    Profit for the year
    15 249 36 532  -58%
    Comprehensive income related
    to the owners of "NAC "Kazatomprom" JSC
    17 672 36 532  -52%
    Cash and their equivalents
    at the end of year
    29 432 17 152  72%
    Credits and loans
    137 072 120 671  14%
    CAPEX
    49 489 76 544  -35%
    Dividends declared
    5 386 7 637  -29%
    Extraction of uranium, in total,
    tons
    22 829 22 501  1%
    Extraction of uranium,
    on share in all SAO,
    tons
    13 627 12 568  8%
  • 2013

     

    Extraction and the price of natural uranium in the world in 2013

    • In 2013 the market was characterized by excess of supply over demand.
    • Average spot price for uranium (Ux U3O8 Price) in 2013 was $38,63/lb U3O8.
    • In 2013 global uranium production amounted to 58 827 tons.
    • Kazakhstan is on the top of the leading uranium producers at 2013 year-end (ahead of Africa and Canada).
    • В 2013 году Казахстан, Африка и Канада добыли около 71% от общего объема мировой добычи урана (38,3%, 16,5% и 15,9% соответственно).
    • In 2013 Kazakhstan, Africa and Canada produced about 71 % of the total global uranium production (38,3%, 16,5% and 15,9%, accordingly).
    • Principal competitors of NAC Kazatomprom on uranium market are:
      AREVA – 9,331 tons, 16%;
      Cameco - 9,076 tons, 15,5%.

    Leading countries-producers

    Leading companies-producers

    Total:
    58 800
    Ths.ton

    Product sales income

    • At 2013 year-end, operating income amounted to KZT 288,3 bln., (2012: KZT 321 ,7 bln.).
    • Increase of income from energy sales is connected with increase in tariff and increase in sales of electricity.
    • Reduction in yield is mainly associated with fall of market prices for natural uranium, as well as change of revenue structure due to loss by Kazatomprom in the second half of 2013 of the possibility to control unilaterally the activity of its subsidiary “Semizbai-U” LLP (as a result of contractual compliance of Amicable agreement with Sino-Kaz).
    • Major part in sales structure is uranium products.
    • Major classes of customers are the largest world nuclear companies, as well as rareearth and rare metal companies.
    • In 2013 the main areas of sale were Kazakhstan (26,5%), China (25,1 %) and the USA (18,9% of total receipts).
    • Sales of U3O8 amounted to 66% of consolidated sales income of Kazatomprom or KZT 190 bln.
    • ПOther income consist of income for drilling services, transportation and other noncore services (communication, security, etc.).

    Segmented sales structure

    Dividend Policy

    • According to Dividend policy the standard of dividend distribution for Kazatomprom is defined at the rate of not less than 15% of consolidated total income for reporting period.
    • At year-end 2013 the amount of accrued dividends was KZT5,4 billion (15% of net income) and it will be paid out in December, 2014.
    • Reduction in size of the dividends received in 2013 is related to reduction in income of uranium-mining facilities due to drop in natural uranium price.

    Investment Activity

    • In 2013 the investment expenditures were KZT76,5 billion including the most sizable:
      - KZT 39,3 billion for capital investments;
      - KZT 21 ,9billion for Financial investments;
      - KZT 15,3billion for appraisal and exploration works.
    • Except uranium business the Company finances alternative and renewable energy projects and the production of rare-earth and rare metals as well.
    • Financing of investment program is carried out mainly from own funds.

    Indicators of financial stability and liquidity

    • Indices of effectiveness and financial stability in 2013 deteriorated against indices of 2012.
    • Generation of earning capacity (EBITDA) was affected by continued decline in prices for triuranium octoxide on the world market (approximately 20% during a year).
    • Within the framework of earning capacity management, Kazatomprom takes measures to reduce and optimize operational and investment expenses.
    • Major indices of financial stability, defined by Lenders and Debt management policy of“Samruk-Kazyna” JSC are :
      Financial liability to capital < 1,0 (0,39);
      Financial liability to EBITDA < 3,5 (2,31).
    • In order to maintain financial stability the decisions on raising of new external borrowings are taken under control of financial covenants.
    • As of December 31 , 2013, liquid funds were KZT18,8 billion (cash and short-term deposits)
    • At year-end 2013 financial obligations amounted to KZT159 billion, including:
      loans – KZT 121 billion;
      guarantees – KZT38 billion.
    • Repayment of the current loans is
      made using own funds.

    Key performance indicators
    (Millions of tenge)

    Indicator 2013 year 2012 year
    EBITDA 68 600 87 200
    Income 288 283 321 746
    Cost of sales
    3 959 3 590
    Administrative expenses
    29 301 24 416
    Gross Profit
    58 378 77 839
    Total revenue relating to
    parent company’s shareholders
    36 532 50 969
    Cash and cash equivalents
    at year end
    17 152 38 038
    Credits and loans
    120 671 108 351
    Capital
    406 791 377 356
    Average exchange rate KZT / US dollar
    152,14 148,30
  • 2012

     

    Key performance indicators
    (Millions of tenge)

    Indicator 2012 year 2011 year
    EBITDA 87 200 119 000
    Income 321 746 321 951
    Cost of sales
    3 590 3 107
    Administrative expenses
    24 416 17 081
    Gross Profit
    77 839 86 591
    Comprehensive income related
    to the owners of "NAC "Kazatomprom" JSC
    50 969 78 338
    Cash and their equivalents
    at the end of year
    38 038 41 837
    Credits and loans
    108 351 116 416
    Capital
    377 356 347 857
    Extraction of uranium, in total,
    tons
    20 980 19 500
    Extraction of uranium, on share in all SAO,
    tons
    11 930 11 100
    Average exchange rate KZT / US dollar
    148,30 146,62

     

  • 2011

     

    Key performance indicators
    (Millions of tenge)

    Indicator 2011 year 2010 year
    EBITDA 119 000 89 040
    Income 321 951 230 939
    Cost of sales
    3 107 2 326
    Administrative expenses
    17 081 13 265
    Gross Profit
    86 591 63 980
    Comprehensive income related
    to the owners of "NAC "Kazatomprom" JSC
    78 338 59 014
    Cash and their equivalents
    at the end of year
    41 837 22 384
    Credits and loans
    116 416 122 126
    Capital
    347 857 279 420
    Extraction of uranium, in total,
    tons
    19 500 17 800
    Extraction of uranium, on share in all SAO,
    tons
    11 100 10 000
    Average exchange rate KZT / US dollar
    146,62 147,35

     

  • 2010

     

    Key performance indicators
    (Millions of tenge)

    Indicator 2010 year 2009 year
    EBITDA 89 040 67 550
    Income 230 939 178 507
    Cost of sales
    2 326 1 824
    Administrative expenses
    13 265 8 985
    Gross Profit
    63 980 65 797
    Comprehensive income related
    to the owners of "NAC "Kazatomprom" JSC
    59 014 40 684
    Cash and their equivalents
    at the end of year
    22 384 30 083
    Credits and loans
    122 126 60 982
    Capital
    279 420 244 234
    Extraction of uranium, in total,

    tons
    17 800 14 000
    Extraction of uranium, on share in all SAO,

    tons
    10 000 7 800
    Average exchange rate KZT / US dollar
    147,35 147,50