Annual financial statements

CONSOLIDATED BALANCE SHEET REPORT

as of December 31, 2018    
thousand tenge

Assets	Line code	As of the end of the reporting period	As of the beginning of the reporting period
I. Short-term assets
Cash assets and their equivalents	010	9 539 178	6 751 184
Available-for-sale financial assets	011	-	-
Derivative financial instruments	012	-	-
Financial assets accountable by fair value through income and losses	013	-	-
Financial assets withheld until retirement	014	-	-
Other short-term financial assets	015	56 990	7 833 556
Short-term trade and other accounts receivables	016	7 815 512	7 531 484
Current income tax	017	14 426	37 258
Stocks	018	19 947 045	15 794 309
Other short-term assets	019	908 765	850 311
Total short-term assets (sum of lines from 010 to 019)	100	38 281 916	38 798 102
Assets (or withdrawn groups) intended for sale	101	-	-
II. Long-term assets
Available-for-sale financial assets	110	-	-
Derivative financial instruments	111	-	-
Financial assets accountable by fair value through income and losses	112	-	-
Financial assets withheld until retirement	113	-	-
Other long-term financial assets	114	-	-
Long-term trade and other accounts receivables	115	-	-
Investments accounted with equity accounting	116	10 150 546	8 353 356
Investment property	117	-	-
Basic assets	118	19 654 248	19 669 612
Biological assets	119	-	-
Exploration and evaluation assets	120	369 152	387 667
Intangible assets	121	472 054	524 425
Deferred tax assets	122	28 831	30 118
Other long-term assets	123	9 823 951	8 042 637
Total long-term assets (sum of lines from 110 to 123)	200	40 498 782	37 007 815
Balance (line 100 + line 101 + line 200)	-	78 780 698	75 805 917
Liabilities and capital	Line code	-	-
III. Short-term liabilities
Loans	210	-	-
Derivative financial instruments	211	-	-
Other short-term financial liabilities	212	-	-
Short-term trade and other credit debt	213	2 819 403	1 843 709
Short-term reserves	214	1 792 333	424 724
Current income tax obligations	215	200 221
Staff remuneration	216	746 847	536 589
Other short-term liabilities	217	591 337	704 622
Total short-term liabilities (sum of lines from 210 to 217)	300	6 150 141	3 509 644
Liabilities of withdrawn groups intended for sale	301	-	-
IV. Long-term liabilities
Loans	310	-	-
Derivative financial instruments	311	-	-
Other long-term financial liabilities	312	-	-
Long-term trade and other credit debt	313	-	-
Long-term reserves	314	3 277 021	2 748 657
Deferred tax liabilities	315	1 510 416	1 647 245
Other long-term liabilities	316	1 115 307	1 127 258
Total long-term liabilities (sum of lines from 310 to 316)	400	5 902 744	5 523 160
V. Capital
Authorized (share) capital	410	2 755 985	2 755 985
Seigniorage revenues	411	-	-
Reacquired private equity instruments	412	-	-
Reserves	413	244 174	147 462
Undistributed profit (outstanding loss)	414	63 727 654	63 869 666
Total capital attributed to parent company owners (sum of lines from 410 to 414)	420	66 727 813	66 773 113
Non-controlling owners interest	421	-	-
Total capital (line 420 +/- line 421)	500	66 727 813	66 773 113
Balance (line 300 + line 301 + line 400 + line 500)	-	78 780 698	75 805 917

PROFIT AND LOSS CONSOLIDATED REPORT

Company name	-	Ulba Metallurgical Plant JSC
for the period ended on	-	December 31, 2018 thousand tenge
Description	Line code	Within the reporting period	Within the previous period
Revenue	010	42 977 242	37 483 584
Cost of sales	011	31 585 673	28 946 380
Gross profit (line 010 - line 011)	012	11 391 569	8 537 204
Distribution expenses	013	1 435 148	1 087 459
Administrative expenses	014	3 444 416	2 847 020
Other expenses	015	-	-
Other income	016	-	-
Total operating income (loss) (+/- lines from 012 to 016)	020	6 512 005	4 602 725
Finance income	021	2 313 884	311 081
Finance costs	022	360 351	336 160
Company's share in profit (loss) of associated entities and joint activity accouting with equity accounting	023	38 130	(111 490)
Other non-operating income	024	213 776	600 685
Other non-operating expenses	025	6 295 259	2 240 659
Income (loss) before income tax (+/- lines from 020 to 025)	100	2 422 185	2 826 182
Income tax expense	101	2 069 036	1 362 637
Income (loss) after coninuing activity taxation (line 100 - line 101)	200	353 149	1 463 545
Income (loss) after dicontinued activity taxation	201	-	-
Profit for the year (line 200 + line 201) attributable to:	300	353 149	1 463 545
parent company owners	-	353 149	1 463 545
non-controlling owners interest	-	-	-
Other comprehensive income, total (sum of lines from 410 to 420):	400	98 789	(33 909)
including:
Assets revaluation	410	-	-
Revaluation of financial assets kept for sale (starting from January 1, 2018 - Income (loss) from revaluation of financial assets measured at fair value through the other comprehensive income)	411/1	-	-
Income and loss from investments in the equity instruments classified at the discretion of company as measured at fair value through the other comprehensive income	411/2	-	-
Share in the other comprehensive income (loss) of the associated companies and joint venture accountable by means of equity method	412	(3 344)	(1 629)
Actuarial income (losses) on pension liabilities	413	5 421	(51 186)
Effect of change in income tax rate on deferred tax of subsidiaries	414	-	-
Cash flow hedging	415	-	-
Exchange difference on investments in foreign companies	416	96 712	18 906
Hedging of net investments in foreign operations	417	-	-
Other components of the other comprehensive income (loss)	418	-	-
Income reclassification on cash flow hedging to reporting period income (realized income)	419/1	-	-
Reclassification to reserve income by means of foreign currency converting during foreign subsidiaries retirement	419/2	-	-
Reclassification to reserve income on revaluation during sale and depriciation of investments available for sale (realized income)	419/3	-	-
Reclassification adjustment as part of income (loss): Reclassification to income or reserve losses on revaluation during sale and depriciation of investments available for sale (realized income (loss)) (starting from January 1, 2018 - Reclassification to income or reserve losses on revaluation during sale and depriciation of financial assets measured at fair value through the other comprehensive income (realized income (loss))	419/4	-	-
Tax effect of components of the other comprehensive income	420	-	-
Total comprehensive income (line 300 + line 400)	500	451 938	1 429 636
Total comprehensive income attributable to:
parent company owners	-	451 938	1 429 636
controlling owners interest	-	-	-
Earnings per share:	600	-	-
including:	-	-	-
Basic earnings per share:	-	-	-
of the continuing activity	-	0,145	0,601
of the discontinued activity	-	-	-
Diluted earnings per share:	-	-	-
of the continuing activity	-	-	-
of the discontinued activity	-	-	-

CASH FLOWS CONSOLIDATED REPORT

 (direct method)

as of	31.12.2018		thous. tenge
Company name	Ulba Metallurgical Plant JSC
Description	Line code	For reporting period	For previous period
I. Operating activity cash flow
1. Cash inflow total, (sum of lines from 011 to 016)	010	48 339 306	40 357 805
including:
sale of goods and services	011	45 531 760	37 687 173
other gain	012	-	-
advance payments received from buyers, customers	013	570 872	259 440
receipts under insurance contracts	014	-	-
remuneration received	015	166 047	260 535
other receipts	016	2 070 627	2 150 657
2. Cash outflow, total (sum of lines from 021 to 027)	020	44 974 700	37 583 269
including:
payments to suppliers for goods and services	021	27 960 658	19 721 505
advance payments given to suppliers of goods and services	022	498 416	1 198 967
payments for labour	023	8 122 895	8 400 806
remuneration payment	024	-	-
payments under insurance contracts	025	-	-
income tax and other payments into the budget	026	5 819 268	4 432 403
other payments	027	2 573 463	3 829 588
3. Net amount of operating activity cash  (line 010 - line 020)	030	3 364 606	2 774 536
II. Investment activity cash flow
1.  Cash inflow total, (sum of lines from 041 to 051)	040	3 991 749	12 110 370
including:
fixed assets sale	041	3 596	617 657
intangible assets sale	042	-	-
other long-term assets sale	043	-	-
sale of other organizations' equity instruments (except for affiliates) and participatory interest in joint ventures	044	-	-
sale of other organizations' debt instruments	045	-	-
reimbursement in loss of control over subsidiaries	046	-	-
sale of other financial assets	047	3 936 551	11 193 325
futures and forward contracts, options, and swaps	048	-	-
dividends received	049	38 156	45 756
remuneration received	050	-	-
other receipts	051	13 446	253 632
2. Cash outflow, total (sum of lines from 061 to 071)	060	5 584 660	11 796 132
including:
fixed assets acquisition	061	1 763 673	523 854
intangible assets acquisition	062	-	-
other long-term assets acquisition	063	1 380 617	1 417 653
acquisition of other organizations' equity instruments (except for affiliates) and participatory interest in joint ventures	064	1 800 560	2 169 023
acquisition of other organizations' debt instruments	065	-	-
acquisition of control over subsidiaries	066	-	-
acquisition of other financial assets	067	104 285	7 340 516
granting of loans	068	-	334 690
futures and forward contracts, options, and swaps	069	-	-
investments in associates and subsidiaries	070	-	-
other payments	071	535 525	10 396
3.  Net amount of investment activity cash (line 040 - line 060)	080	(1 592 911)	314 238
III. Financial activity cash flow
1. Cash inflow total, (sum of lines from 091 to 094)	090	0	0
including:
issue of shares and other financial instruments	091	-	-
procurement of a loan	092	-	-
remuneration receipt	093	-	-
other inflow	094	-	-
2. Cash outflow, total (sum of lines from 101 to 105)	100	386 099	2 204 496
including:
payment of loans	101	-	-
payment of remuneration	102	-	-
payment of dividends	103	386 099	2 204 496
payments to owners under organizations' shares	104	-	-
other outflow	105	-	-
3. Net amount of financial activity cash (line 090 - line 100)	110	(386 099)	(2 204 496)
4. Influence of currency exchange rate in tenge	120	1 402 398	(167 803)
5. Increase(+)/decrease(-) of funds (line 030+-line 080+-line 110+-line 120)	130	2 787 994	716 475
6.  Funds and their equivalents as of the beginning of reporting period	140	6 751 184	6 034 709
7. Funds and thier equivalents as of the end of reporting period	150	9 539 178	6 751 184

CONSOLIDATED REPORT ON CAPITAL CHANGE

for the period, ended on
31.12.2018
thous. tenge

-

Description	Line code	Mother company capital					Total	Share of non-controlling owners	Total capital
		Authorized capital stock	Share premium	Purchased own share instruments	Reserves	Undistributed profit
Balance as of January 1st of the previous year	010	2 755 985	-	-	128 556	64 850 363	67 734 904	-	67 734 904
Accounting policy change	011	-	-	-	-	-	-	-	-
Re-calculated balance (line 010 +/- line 011)	100	2 755 985	-	-	128 556	64 850 363	67 734 904	-	67 734 904
Overall combined profit, total (line 210 + line 220):	200	-	-	-	18 906	1 410 730	1 429 636	-	1 429 636
Profit (loss) of the year	210	-	-	-	-	1 463 545	1 463 545	-	1 463 545
Other combined profit, total (sum of lines from 221 to 229):	220	-	-	-	18 906	(52 815)	(33 909)	-	(33 909)
including:
Fixed assets revaluation surplus (minus tax effect)	221	-	-	-	-	-	-	-	-
Restatement of depreciation after revaluation of fixed assets   (minus tax effect)	222	-	-	-	-	-	-	-	-
Revaluation of financial assets available for sale (minus tax effect)	223	-	-	-	-	-	-	-	-
Share in other combined profit (loss) of the associated agencies and joint activities accounted for by share participation method	224	-	-	-	-	(1 629)	(1 629)	-	(1 629)
Actuarial profit (loss) of retirement obligations	225	-	-	-	-	(51 186)	(51 186)		(51 186)
Effect of changing income tax rate by deferred tax of subsidiaries	226	-	-	-	-	-	-	-	-
Fund flow hedging (minus tax effect)	227	-	-	-	-	-	-	-	-
Rate difference by investments to foreign companies	228	-	-	-	18 906	-	18 906	-	18 906
Hedging of net investment to foreign operations	229	-	-	-	-	-	-	-	-
Operations with owners, total (sum of lines from 310 to 318):	300	-	-	-	-	(2 391 427)	(2 391 427)	-	(2 391 427)
including:
Granting shares to the employees:	310	-	-	-	-	-	-	-	-
including:
employee's service cost		-	-	-	-	-	-	-	-
issuing shares according to granting shares to employees procedure		-	-	-	-	-	-	-	-
tax benefit regarding granting shares to employees procedure		-	-	-	-	-	-	-	-
Contributions from owners	311	-	-	-	-	-	-	-	-
Issuing own share instruments (shares)	312	-	-	-	-	-	-	-	-
Issuing share instruments associated with business merge	313	-	-	-	-	-	-	-	-
Share component of the converted instruments (minus tax effect)	314	-	-	-	-	-	-	-	-
Dividend payment	315	-	-	-	-	(2 391 427)	(2 391 427)	-	(2 391 427)
Other operations with owners	317	-	-	-	-	-	-	-	-
Change of share of participating in daughter companies, not resulted in control loss:	318	-	-	-	-	-	-	-	-
Other operations	319	-	-	-	-	-	-	-	-
Balance as of January 1st of the reporting year (line 100 + line 200 + line 300 + line 319)	400	2 755 985	-	-	147 462	63 869 666	66 773 113	-	66 773 113
Accounting policy change	401	-	-	-	-	(111 139)	(111 139)	-	(111 139)
Correcting of initial balance (IFRS 15)	-	-	-	-	-	-		-
Correcting of initial balance (IFRS 9)	-	-	-	-	-	(111 139)	(111 139)	-	(111 139)
Correcting of initial balance (IFRS 16)	-	-	-	-	-	-	-	-
Re-calculated balance (line 400 +/- line 401)	500	2 755 985	-	-	147 462	63 758 527	66 661 974	-	66 661 974
Overall combined profit, total (line 610 + line 620)	600	-	-	-	96 712	355 226	451 938	-	451 938
Profit (loss) per year	610	-	-	-	-	353 149	353 149		353 149
Other combined profit, total (sum of lines from 621 to 629):	620	-	-	-	96 712	2 077	98 789	-	98 789
including:
Fixed assets revaluation surplus (minus tax effect)	621	-	-	-	-	-	-	-	-
Restatement of depreciation after revaluation of fixed assets   (minus tax effect)	622	-	-	-	-	-	-	-	-
Revaluation of financial assets available for sale (minus tax effect)	623	-	-	-	-	-	-	-	-
Share in other combined profit (loss) of the associated agencies and joint activities accounted  for by share participation method	624	-	-	-	-	(3 344)	(3 344)	-	(3 344)
Actuarial profit (loss) of retirement obligations	625	-	-	-	-	5 421	5 421	-	5 421
Effect of changing income tax rate by deferred tax of subsidiaries	626	-	-	-	-	-	-	-
Fund flow hedging (minus tax effect)	627	-	-	-	-	-	-	-	-
Rate difference by investments to foreign companies	628	-	-	-	96 712	-	96 712	-	96 712
Hedging of net investment to foreign operations	629	-	-	-	-	-	-	-	-
Operations with owners, total (sum of lines from 710 to 718):	700	-	-	-	-	(386 099)	386 099)	-	(386 099)
including:
Granting shares to the employees:	710	-	-	-	-	-	-	-             -	-
including:
employee's service cost	-	-	-	-	-	-	-	-	-
issuing shares according to granting shares to employees procedure	-	-	-	-	-	-	-	-	-
tax benefit regarding granting shares to employees procedure	-	-	-	-	-	-	-	-	-
Contributions from owners	711	-	-	-	-	-	-	-	-
Issuing own share instruments (shares)	712	-	-	-	-	-	-	-	-
Issuing share instruments associated with business merge	713	-	-	-	-	-	-	-
Share component of the converted instruments (minus tax effect)	714	-	-	-	-	-	-	-	-
Dividend payment	715	-	-	-	-	(386 099)	(386 099)	-	(386 099)
Other distribution in favor of owners	716	-	-	-	-	-	-	-	-
Other operations with owners	717	-	-	-	-	-	-	-	-
Change of share of participating in daughter companies, not resulted in control loss:	718	-	-	-	-	-	-	-	-
Other operations	719	-	-	-	-	-	-	-	-
Balance as of December 31st of the reporting year (line 500 + line 600 + line 700 + line 719)	800	2 755 985	-	-	244 174	63 727 654	66 727 813	-	66 727 813