Business
Zhaikmunai 2012 Full-Year Financial Results
Zhaikmunai 2012 Full-Year Financial Results.
About this update from Nostrum Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 2009A Zhaikmunai LP 18 March 2013 \n\n \n \nZHAIKMUNAI MORE THAN DOUBLES REVENUE AND EBITDA IN 2012\n \n \nAmsterdam, 18 March 2013. Zhaikmunai LP (\"Zhaikmunai\"), the oil and gas exploration and production enterprise with assets in north-western Kazakhstan, today communicates its full-year financial results for the year ended 31st December 2012.\n \n \n--------------------------------------------------------------------------------------------------------------------------------\n \n2012 KEY HIGHLIGHTS\n \n· Total production (crude oil and GTF products) almost tripled in 2012 to 13,520,040 boe (182% increase);\n· Revenue more than doubled in 2012 to US$ 737 million (115% increase);\n· EBITDA more than doubled in 2012 to US$ 460 million (133% increase);\n· Net income doubled in 2012 to US$ 162 million (98% increase);\n· Balance sheet remained very strong in 2012 with US$ 251 million in cash and equivalents (93% increase).\n \nFrank Monstrey, Chairman of Zhaikmunai commented:\n \n\"2012 has been a landmark year for Zhaikmunai. I am very proud of the success our management team has achieved with the completion of our first phase of development. The Company is now significantly de-risked from both an operational and a financial perspective. Zhaikmunai today finds itself in a unique position within the industry as it combines important cash generation with significant production growth over the coming years. We now much look forward to doubling production in addition to increasing the potential of our assets through our appraisal and development programme. We have taken our first steps into acquisitions in 2012 and we will continue to look for the best possible ways to further enhance shareholder value moving forward.\"\n \n--------------------------------------------------------------------------------------------------------------------------------\n \n \nFINANCIAL HIGHLIGHTS\n \nAll figures in US$ million unless otherwise stated\n\n\n\n\n\n\n\nFY 2012\n\n\nFY2011\n\n\nChange YoY\n\n\n\n\nRevenue\n\n\n737.1\n\n\n342.61\n\n\n+ 115%\n\n\n\n\nEBITDA\n\n\n460.3\n\n\n197.4\n\n\n+ 133%\n\n\n\n\nEBITDA Margin\n\n\n63%\n\n\n58%\n\n\n+ 8%\n...