The net profit of the Kazakh National Atomic Company "Kazatomprom" for the first half of 2023 amounted to over 222 billion tenge, which is more than $480 million. This is a 33% increase compared to the same period in 2022, Kazinform reports.
The increase in net profit was primarily due to the growth in operating profit during the first half of 2023, said the Chairman of the Board of the company, Erzhan Mukanov.
The company is the world's largest producer of natural uranium with priority access to one of the world's largest resource bases.
The production volume was almost at the same level as in the same period of 2022, demonstrating a slight increase of 2%, and amounted to 10,225 tons.
"The sales volumes in the first half of 2023 were 6% higher compared to the same period in 2022, mainly due to changes in delivery schedules planned by the customer. It should be noted that sales volumes can significantly vary in each period depending on customer requests and the timing of physical deliveries," said Erzhan Mukanov, the head of "Kazatomprom," summarizing the first half of the year.
The average realized price was higher compared to the same period in 2022 due to a higher spot price for uranium and amounted to 55,257 tenge/kg (47.04 US dollars/pound), which is 15-16% higher compared to the same period in 2022.
The consolidated revenue amounted to nearly 619 billion tenge, increasing by 25%. Among the factors influencing the growth in revenue are the increase in the spot price of uranium oxide, the growth in sales volume related to customer request timelines and corresponding delivery schedule differences, as well as increased revenue from uranium and rare metals products.
Erzhan Mukanov reminded that in July, "Kazatomprom" made another dividend payment to shareholders in the amount of about 201 billion tenge or approximately 1.7 US dollars per Global Depository Receipt (GDR), equivalent to one ordinary share.
75% of the total number of placed shares of "Kazatomprom" JSC belongs to JSC "Sovereign Wealth Fund "Samruk-Kazyna," while 25% is in free circulation on the International Stock Exchange "Astana" and the London Stock Exchange.
CentralasianLIGHT.org
August 25, 2023