y, fixed assets turnover, exploration and evaluation assets, asset turnover period. some changes in assets in +2013 and 2012, the fixed assets have increased by 18%, and income from sales has risen by only 7.5% in connection with which the capital productivity has decreased by 9%. The main reason is the reduction in revenues, mainly due to decrease in the spot quotes on uranium from 48.73 USD/lb to 38.4 USD/lb. fixed assets turnover period has improved due to the excess in the growth of fixed assets over the growth in operating income, particularly in machinery, equipment and vehicles, oil and gas assets. Companies ability to repay the current liabilities by means of the current assets in the Fund s group has improved, ie the companies repaid the current commitments on loans and received goods, works and services at the expense of own working capital. a slight change in the absolute liquidity ratio indicates that the Companies financial condition has remained at the +2012 level.on Equity. The ROE is useful for comparing the profitability of a company. We know that the amount of net income returned as a percentage of shareholders equity. Return on equity measures a corporation s profitability by revealing how much profit a company generates with the money shareholders have invested. So, we have the following formula: on Equity=Net Income/Shareholder s Equityexample, ROE (for 2013)=(440/7505) * 100%=5,9% more important ratio is Return on Average Capital Employed (ROACE) that shows profitability compared to investments made in new capital:=EBIT/(Average Total Assets - Average Current Liabilities)
Name Unit of measure 2013 2012 Deviation (+/-) Change in% Return on equity (ROE)% 5.9 17.3 - 11 - 66 ROACE% 4.8 10.3 - 6 - 54 Floating capital KZT bln. 1 545.9 1 664.7 - 119 - 7 on equity (ROE): the efficiency of utilization of the equity has decreased by 66%, mainly the reduction in the net income by 62% following the recognition in 2012 of income from debt restructuring of BTA Bank JSC, income from the sale of GSM Kazakhstan OJSC Kazakhtelecom LLP and accrual in the accounting period of losses from adjustments to fair value of the net assets of BTA Bank JSC, on Temirbank JSC. that, the growth of the Fund s average equity by 14% is observed primarily due to the increase in the retained profit following the performance for 2012. (Return on Average Capital Employed): efficient use of the capital employed has decreased by 54%, mainly due to reduction in the net income by 62% (the main factors presented above). At that, in 2013 the obligations of BTA Bank JSC and Temirbank JSC on loans attracted by means of the Government and National banks, on attracted customer funds, on loans received, have been reclassified to liabilities associated with assets classified as held for sale. net working capital has decreased mainly due to the transfer of subsidiaries to the public ownership.
Liquidity
Name 2013 2012 Deviation Net income of the cash from the operating activity чотиреста шістьдесят одна тисячі триста сімдесят п'ять 86 Net loss of the cash in the invesment activity - тисячу шістсот вісімдесят дев'ять - 501 - 1188 Net income/(loss) of the cash in the financial activity 492 - 61553 Net growth/(decrease) of cash and their equivalents - 727 - 178 - 549 Cash and their equivalents as of the beginning of the period 1468 одна тисяча шістсот сорок сім - 179 Cash and their equivalents as of the end of the period 741 1468 - 727
Cash flow from the operating activity has increased in the result of: of operating activity (183 billion) mainly due to growth of tariffs in cargo and passenger traffic, tariffs for services in transfer of the electric power, electric power outputs; in the turnover capital (KZT - 78 billion), mainly due to the loans of the Government (KZT - 435 billion) and loans to the clients (KZT298 billion), liabilities on the clients funds (KZT - 78 billion), other assets ( KZT 77 billion), funds in the credit enterprises (KZT35 billion) due to the reclassification to the assets and liabilities, associated with the assets, available-for-sale, exit of the financial organizations and development institutes as well as repayment of the trade accounts receivable (KZT28 billion); of the volume of paid income tax (KZT - 26 billion), net interest earned (KZT7 billion) .flow from the investment activity has decreased in the result of: of 29,8221% of the equity interest in the authorized capital of Kazzinc LLP in the amount of KZT249 bln (alternation by KZT - 266 billion); ? growth of acquisition of the fixed assets (KZT - 216 billion); in the income from the sale of associated companies due to the sale of 49% of the equity interest in «GSM Kazakhstan» LLP to «Kazakhtelecom» OJSC (-KZT226 bln) in 2012; of the volume of cash allocated onbank deposits (KZT - 167 billion); of the ca...
