Kazakhstan Kagazy’s EBITDA has decreased by $3 million due to an increase in distribution costs of $1.1 million, increase in staff costs of $1.3 million, and an increase in provision against VAT recoverable of $1.5 million. This was partially compensated by the increase in gross profit of $1 million.
The Group’s total comprehensive loss has increased by $77 million due to a decrease in the Group’s EBITDA of $3 million, increase in impairment charges of $22.1 million, increase in finance costs of $29.7 million, increase of income tax expenses of $8.1 million and increase in loss of discontinued operations of $23.2 million.
The Group’s operating cash flows have decreased by $6.2 million, mostly caused by an increase in income tax of $1.2 million and legal and professional fees of $3.9 million.
Production of Paper Business for 2013 amounted to 55.1 thousand tons compared to 52.5 thousand tons for the same period of 2012. Production of corrugated packaging for 2013 amounted to 98.3 million square meters compared to 97.1 million square meters for the same period of 2012.
Sales of paper to third parties for 2013 amounted to 17.6 thousand tons compared to 16.9 thousand tons for the same period of 2012. Sales of corrugated packaging for the period amounted to 98.1 million square meters compared to 96.4 million square meters for the same period of 2012.
The average selling price of paper and corrugated packaging decreased 0.7%.
Kazakhstan Kagazy is the biggest manufacturer of paper, cardboard and corrugated packaging in Kazakhstan and Central Asia.
