Energy Industry

21.05.2018

EBRD organises financing for PV project in Kazakhstan

In the first joint internationally financed project in renewable energy the European Bank for Reconstruction and Development is organizing a loan together with the Clean Technology Fund (CTF) and the Asian Development Bank (ADB) to fund the construction of a 50 MW solar power plant in Baikonur...

In the first joint internationally financed project in renewable energy the European Bank for Reconstruction and Development is organizing a loan together with the Clean Technology Fund (CTF) and the Asian Development Bank (ADB) to fund the construction of a 50 MW solar power plant in Baikonur...

21.05.2018

Heating season ran smoothly, says Kazakh official

The autumn-winter heating season ran smoothly and preparation for the next season is underway in accordance with the approved schedule, noted Kazakh Minister of Energy Kanat Bozumbayev during the May 15 government meeting.

“No major technical breakdowns in the energy system were registered throughout the past season. In total, there were...

The autumn-winter heating season ran smoothly and preparation for the next season is underway in accordance with the approved schedule, noted Kazakh Minister of Energy Kanat Bozumbayev during the May 15 government meeting.

“No major technical breakdowns in the energy system were registered throughout the past season. In total, there were...

18.05.2018

KEGOC presents expected results for 1Q2018

Financial results

 

KZT bn

1Q2017

1Q2018

yoy

Revenue

        38  

          44  

16%

Cost of sales

-       20  

-        23  

13%

Gross profit

        14  

          18  

29%

Net income

        12  

          16  

30%

Source: Company data

 

According to the results of 1Q2018, the company received T44bn of revenue, showing a 16% growth for the year. Net profit amounted to T16bn, an increase of 30% over the year.

According to the results of 1Q2018, the company received T44bn of revenue, showing a 16% growth for the year. The main increase was in the transmission of electricity, revenues from which grew by 21% y / y and accounted for 65% of total revenues.

The cost price in 1Q2018 amounted to T23bn, which is 13% higher than a year ago, mainly due to an increase in costs for the purchase of electricity (to compensate for the interstate balance of electricity flows) by 32%.

The company's operating profit increased by 29% yoy to T18bn.

In 1Q2018 the company  significantly reduced its financial expenses (-39% yoy) against the increase in financial income (+ 17% yoy), profit from its share in the associate (T68mn) against the loss a year earlier (T13mn). Net profit based on the results of 1Q2018 amounted to T16bn, an increase of 30% over the year.

At the end of 1kQ2018 long-term loans of the company are slightly less than T70bn, down from the beginning of the year by 5%.

Capital expenditures in 1Q2018 are 36% yoy lower and are about T14bn.

The money position has improved from the beginning of the year (+ 16%) and at the end of 1Q2018 is T55bn.

The results of KEGOC do not bring significant surprises to our forecasts. The company's plans to significantly reduce capital costs have already been reflected in the results of 1Q2018. Estimating the results of 1Q2018 as neutral and in the absence of growth drivers, we maintain our "Hold" recommendation to KEGOC shares with 12M TP T1547/share.

By Altynay Ibraimova for Halyk Finance (Kazakhstan).

Financial results

 

KZT bn

1Q2017

1Q2018

yoy

Revenue

        38  

          44  

16%

Cost of sales

-       20  

-        23  

13%

Gross profit

        14  

          18  

29%

Net income

        12  

          16  

30%

Source: Company data

 

According to the results of 1Q2018, the company received T44bn of revenue, showing a 16% growth for the year. Net profit amounted to T16bn, an increase of 30% over the year.

According to the results of 1Q2018, the company received T44bn of revenue, showing a 16% growth for the year. The main increase was in the transmission of electricity, revenues from which grew by 21% y / y and accounted for 65% of total revenues.

The cost price in 1Q2018 amounted to T23bn, which is 13% higher than a year ago, mainly due to an increase in costs for the purchase of electricity (to compensate for the interstate balance of electricity flows) by 32%.

The company's operating profit increased by 29% yoy to T18bn.

In 1Q2018 the company  significantly reduced its financial expenses (-39% yoy) against the increase in financial income (+ 17% yoy), profit from its share in the associate (T68mn) against the loss a year earlier (T13mn). Net profit based on the results of 1Q2018 amounted to T16bn, an increase of 30% over the year.

At the end of 1kQ2018 long-term loans of the company are slightly less than T70bn, down from the beginning of the year by 5%.

Capital expenditures in 1Q2018 are 36% yoy lower and are about T14bn.

The money position has improved from the beginning of the year (+ 16%) and at the end of 1Q2018 is T55bn.

The results of KEGOC do not bring significant surprises to our forecasts. The company's plans to significantly reduce capital costs have already been reflected in the results of 1Q2018. Estimating the results of 1Q2018 as neutral and in the absence of growth drivers, we maintain our "Hold" recommendation to KEGOC shares with 12M TP T1547/share.

By Altynay Ibraimova for Halyk Finance (Kazakhstan).

15.05.2018

First int’l bids for RES projects will be held in Kazakhstan

Ainur Sospanova, Director of the RES Department of the Energy Ministry of Kazakhstan, told a press conference in the Central Communications Service that the first international bidding for projects in renewable energy sources (RES) are scheduled for May 23-June 7, 2018 in Kazakhstan, Kazpravda reports.

"Kazakhstan avails of about 340 MW...

Ainur Sospanova, Director of the RES Department of the Energy Ministry of Kazakhstan, told a press conference in the Central Communications Service that the first international bidding for projects in renewable energy sources (RES) are scheduled for May 23-June 7, 2018 in Kazakhstan, Kazpravda reports.

"Kazakhstan avails of about 340 MW...

14.05.2018

Kazakh National Chamber of Entrepreneurs to fight recent energy price increases

Kazakhstan’s Atameken National Chamber of Entrepreneurs believes the recent electricity price increases in the country are illegal and plans to fight them and look instead for ways to lower electricity costs and promote increased energy saving.

Atameken Chair Timur Kulibayev said the chamber will work against what he calls the illegal...

Kazakhstan’s Atameken National Chamber of Entrepreneurs believes the recent electricity price increases in the country are illegal and plans to fight them and look instead for ways to lower electricity costs and promote increased energy saving.

Atameken Chair Timur Kulibayev said the chamber will work against what he calls the illegal...


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