Consolidated revenue of KazTransOil JSC for the first 9 months of 2019 amounted to 179 billion 745 million tenge, which is 7.6% higher than the same figure for 9 months of 2018.
Consolidated net profit of KazTransOil JSC for 9 months of 2019 amounted to 37 billion 649 million tenge, which is 6.7% higher than the result of 9 months of 2018.
Increase in revenue compared to the same period in 2018 due to the growth of tariffs for pumping oil to the domestic market, in transit of Russian oil through the territory of Kazakhstan in the People's Republic of China and the Kazakhstan section of TON-2 pipeline. In addition, the growth of revenues from operator activities due to the provision of services of Caspian Pipeline Consortium - K JSC has also had a positive impact.
It should also be noted that the company's final result for the reporting period was influenced by the increase in the share of KazTransOil JSC in the profits of jointly controlled organizations.
At the same time, during Q3 2019, KazTransOil JSC and its subsidiaries and jointly controlled entities revalued property, plant and equipment in order to bring the carrying amount in line with fair value. Revaluation of fixed assets was carried out on the basis of reports of independent appraisers. According to the accounting policy, the group of companies of KazTransOil JSC carries out revaluation of fixed assets once every three years, the last revaluation of fixed assets of KazTransOil JSC was carried out in 2016.
As a result of revaluation of fixed assets, there was an impairment of assets in the amount of 14 billion 247 million tenge, of which 13 billion 142 million tenge was recognized by Batumi oil terminal LLC. In addition, as a result of revaluation, the value of fixed assets of KazTransOil JSC and its subsidiaries increased by 68 billion 774 million tenge.
Book value of one share as of September 30, 2019 was 1,756 tenge, as of December 31, 2018 – 1,608 tenge.
Earnings per share in the reporting period increased compared to the same period last year from 92 tenge to 98 tenge per share.
For reference:
KazTransOil JSC is the national operator of the Republic of Kazakhstan on the main oil pipeline. It is a member of JSC «NC KazMunayGas» group. It owns a diversified network of oil trunk pipelines with a length of 5,4 thousand km. Production facilities of KazTransOil JSC are located in Shymkent, Karaganda, Pavlodar, Turkestan, North Kazakhstan, Atyrau, Mangistau, West Kazakhstan, Kyzylorda, Almaty, Aktobe, East Kazakhstan regions of Kazakhstan.
Department of Public Relations and Internal Communications
KazTransOil JSC
