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KMG Demonstrates Stable Operational and Financial Performance for the First Half of 2024

23.08.2024

On 23 August 2024, NC "KazMunayGas" JSC held an online Investor Day on the Kazakhstan Stock Exchange (KASE) platform to present its operational and financial results for the first half of 2024.

The results of the reporting period and the Q&A session were conducted by Deputy Chairman of the Management Board Aryssova D.A., Director of the Transportation and Logistics Department Mendybayev E.T., Head of Upstream Assets Management Zhokebayev Zh.M., and Head of Production Planning, Automation, and Business Reengineering Department Igisenova M.Zh.

This is the second time the Investor Day is held by the Company after its IPO on the KASE platform, where the majority of Company’s freely traded shares are listed.

Operating results for the first half of 2024 showed stable growth. Oil production increased by 1.1% compared to the same period last year, reaching 497 thousand barrels per day or 12.0 million tonnes. The total volume of trunk and marine oil transportation increased by 6.2% to 41.7 million tonnes. However, refining volumes decreased by 11.9% compared to the same period in 2023 and amounted to 8.9 million tonnes.

The financial indicators for the reporting period also showed mainly positive dynamics. Revenue increased by 7.5% and amounted to 4.2 trillion tenge and net profit reached 550 billion tenge, which is 12.5% higher than the figures for the first half of 2023, mainly due to a 5.5% increase in the average price of Brent crude oil. Meanwhile, EBITDA amounted to 977 billion tenge demonstrating a 12.4% decrease, primarily due to the delayed start-up of the soft hydrocracking unit at the Petromidia refinery in Romania and its scheduled major overhaul in March of this year.

In June of the reporting year, the Company paid dividends to its shareholders for the year 2023 amounting to 300 billion tenge, or 491.71 tenge per ordinary share. This marks the second consecutive year the Company has paid such record dividends.

"KMG demonstrates stable operational and financial performance for the first half of 2024, continuing a balanced course of development and proper fulfillment of its commitments," noted Deputy Chairman of the Management Board Aryssova D.A.

The consolidated financial statements for the reporting period, the financial press release, and the presentation have been published on the Company's website and on the KASE and AIX exchanges.


JSC NC KazMunayGas

On 23 August 2024, NC "KazMunayGas" JSC held an online Investor Day on the Kazakhstan Stock Exchange (KASE) platform to present its operational and financial results for the first half of 2024.

The results of the reporting period and the Q&A session were conducted by Deputy Chairman of the Management Board Aryssova D.A., Director of the Transportation and Logistics Department Mendybayev E.T., Head of Upstream Assets Management Zhokebayev Zh.M., and Head of Production Planning, Automation, and Business Reengineering Department Igisenova M.Zh.

This is the second time the Investor Day is held by the Company after its IPO on the KASE platform, where the majority of Company’s freely traded shares are listed.

Operating results for the first half of 2024 showed stable growth. Oil production increased by 1.1% compared to the same period last year, reaching 497 thousand barrels per day or 12.0 million tonnes. The total volume of trunk and marine oil transportation increased by 6.2% to 41.7 million tonnes. However, refining volumes decreased by 11.9% compared to the same period in 2023 and amounted to 8.9 million tonnes.

The financial indicators for the reporting period also showed mainly positive dynamics. Revenue increased by 7.5% and amounted to 4.2 trillion tenge and net profit reached 550 billion tenge, which is 12.5% higher than the figures for the first half of 2023, mainly due to a 5.5% increase in the average price of Brent crude oil. Meanwhile, EBITDA amounted to 977 billion tenge demonstrating a 12.4% decrease, primarily due to the delayed start-up of the soft hydrocracking unit at the Petromidia refinery in Romania and its scheduled major overhaul in March of this year.

In June of the reporting year, the Company paid dividends to its shareholders for the year 2023 amounting to 300 billion tenge, or 491.71 tenge per ordinary share. This marks the second consecutive year the Company has paid such record dividends.

"KMG demonstrates stable operational and financial performance for the first half of 2024, continuing a balanced course of development and proper fulfillment of its commitments," noted Deputy Chairman of the Management Board Aryssova D.A.

The consolidated financial statements for the reporting period, the financial press release, and the presentation have been published on the Company's website and on the KASE and AIX exchanges.


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