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28 Apr 2017 08:04
Annual Report 2016
CONTENTS:
The 2016 Annual Report contains the following main sections:
About this report Key performance indicators Key events About the business Share listings About Kazakhstan About the Kazakhstan oil and gas sector Mission, strategy and values Business model Chairman's statement Chief Executive Officer's statement Independent Directors' statement Milestones KPIs Market overview Operational activities overview Capital expenditure overview Financial overview Taxation Overview of JVs and associate operations Liquidity and capital resources Risk factors Corporate Social responsibility Corporate Governance Financial statements Information for shareholders Contact information Reference InformationAbout this report
The purpose of this Annual Report is to inform the reader about all the material events that affect our business. The Company aims to help our investors and other stakeholders understand how it has formed its strategy, manages its operations, achieves its financial performance, manages the long-term sustainability of the business and develops the value it seeks to create for its stakeholders. This report aims to communicate this by answering the following questions about the business.
What do the Company, its subsidiaries, associates and joint ventures do? What are the circumstances under which it operates? How does the Company's corporate governance structure ensure that its ability to create value for stakeholders in the short, medium and long term is maintained? What is the organisation's business model? What are the main risks and opportunities that affect the organisation's ability to create value for stakeholders in the short, medium and long term, and how are these managed? What are the Company's future goals, aims and objectives, and how does it intend to achieve them? To what extent has the organisation achieved its goals, aims and objectives for the reporting period, and what was the effect on the value of the Company for stakeholders? What are the key challenges and uncertainties that the organisation is likely to encounter in pursuing its strategy, and what are the potential implications for the business model and future performance? How does the organisation determine which matters are included in this report and how are such matters quantified or evaluated?
Key performance indicators
| 2016 | 2015 | Change |
Total production (ktonnes)* | 12,155 | 12,351 | -2% |
OMG and EMG production (ktonnes) | 8,387 | 8,333 | 1% |
Net income (million tenge) | 131,576 | 243,669 | -46% |
Basic and diluted EPS (thousand tenge) | 1.93 | 3.57 | -46% |
EBITDA (million tenge)** | 206,850 | 8,801 | n/a |
Operating margin (%)*** | 22% | -3% | n/a |
Operating cash flow before working capital adjustments (million tenge) | 134,736 | (33,590) | n/a |
Net cash position at the end of the period (million tenge) | 1,171,982 | 1,093,407 | 7% |
*Including proportionate share of equity-accounted entities and CCEL.
**EBITDA is calculated by adding back the share of income in equity-accounted entities, finance income and non-cash expenses such as depreciation and amortisation to the Company's operating profit
***Operating profit does not include share in results of equity accounted entities, CIT expenses, finance charges, impairment charges, foreign exchange gain/loss and other non-operating charges.
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