ASTANA, Kazakhstan, November 29. The net profit of the Kazakh company Kazatomprom has increased by 129 percent, reaching $1.4 billion, Trend reports.
Kazakhstan's national nuclear holding company, Kazatomprom, has published its financial results for the first nine months of 2024, showcasing remarkable financial success.
According to the financial statement, from January through September 2024, the company's revenue grew by 31 percent to $2.13 billion. General and administrative expenses decreased by 26 percent to $58 million. Earnings per share rose from 899 tenge to 2,332 tenge ($4.53) per share.
The significant growth in profit is attributed to the acquisition of control over the joint venture "Budennovskoye": Kazatomprom’s 51 percent stake in the venture is valued at 296 billion tenge, equivalent to $574 million. Even without considering the Budennovskoye asset, Kazatomprom’s margin (profit/revenue) stands at 40 percent.
Kazatomprom is Kazakhstan's national atomic company and the world’s largest producer of natural uranium, with priority access to one of the largest resource bases in the world.