16.08.2016

Samruk-Kazyna JSC has published its Annual Report for 2015: a year of Transformation

The Fund today published its Annual Report for 2015: “Together We Build the Fund of the Future”. The Annual Report consists of the basic five chapters during which the information about the results of activities of Samruk-Kazyna JSC on implementation of Transformation and Privatization programs, Corporate governance and Sustainable development, Strategy and Risk management, activities of Portfolio companies, Talent management and development are introduced to stakeholders. The report shows the key financial and non-financial performance indicators, provides by detailed analysis of the consolidated financial statements in accordance with IFRS.

Baron Decamps Olivier Eduard Emmanuel, Independent Director, Member of the Board of Directors: “This Annual Report is not just about new presentation but content. Its aim is to reach out to all Samruk-Kazyna stakeholders including the citizens and communities of Kazakhstan, the politicians, the media and investor community at large and share with them what is Samruk-Kazyna today and going forward. The ongoing Transformation Program of the Fund, including Strategy, Asset optimization and Corporate governance is at the core of SK mission”.

The Annual Report 2016 is available here.


Key results of the Fund's Annual Report for 2015.

Transformation:

  • A new business model of the Fund has been developed and implemented, in accordance. with which the Fund is represented as a strategic holding with authorized the Board of Directors in the Portfolio Companies.
  • New functional and organizational models of the Fund have been introduced since January 2016.
  • Development Strategy of the Fund and its five Portfolio Companies has been updated.
  • Strategic KPIs of the Fund and its 6 Portfolio Companies have been approved.
  • The Fund, «Kazpost» JSC and «KTZ» JSC have approved target operating models and moved to the implementation stage.
  • «KMG» NC JSC, «Kazatomprom» JSC, «Samruk-Energy» JSC, «KEGOC», «Kazpost» JSC and «KTZ» NC JSC have been completing the design stage and have started the planning stage in 2016.

Financial results:

- The consolidated net income of «Samruk-Kazyna» JSC in 2015 was 304.8 billion tenge and increased by 30% in comparison with 2014.

- «Samruk-Kazyna» JSC group of companies paid taxes and payments in the amount of 663 billion tenge in 2015 compared to 1048 billion tenge in 2014.

- In 2015, «Samruk-Kazyna» JSC paid dividends to the Sole Shareholder in the amount of 34.7 billion tenge as the results of activity in 2014, 9.1 billion tenge based on the results of 2013 in 2014.

Privatization:

-  The Fund sold 36 assets worth 49 billion tenge for 2014-2015.

- As of the end of 2015 the number of companies included in the Fund's portfolio was 545 and reduced by 9% compared to 2014 (593 as of December 31, 2014), and we are planning a further reduction up to 400 by the end of 2016.

- In accordance with the Comprehensive privatization plan 7 companies of the Fund Portfolio will be offered on the IPO in 2018 – 2020.

Corporate governance:

- New Corporate Governance Code in line with OECD standards was approved.

- The formation of the Board of Directors of 3 Portfolio Companies in accordance with the requirements of the Corporate Governance Code has been started.

- A new Methodology on assessment of corporate governance has been developed.

Sustainable development:

- Work on the implementation of sustainable development principles in the Fund and the Portfolio Companies has begun.

- Total amount spent on charity and sponsorship support was 17 746 million tenge, 141 projects were implemented, and assistance was rendered to approximately 9000 Kazakhstani people.

- 19 announcements on full-time vacancies were published on the website, for which 982 candidates responded, 42 were invited to peer interview, and out of this number 19 candidates were recruited.

- Work on the development and implementation of compliance program in accordance with the OECD standard has been started.

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