ASTANA, Kazakhstan, March 26. Kazakhstan’s JSC "KazMunayGas" has published its financial results for 2024, where, according to the report, the company demonstrated stability and improvements in key indicators despite fluctuations in global oil and gas markets.
Data obtained by Trend indicates that the company's revenue in 2024
amounted to 8.33 trillion tenge (about $17.75 billion), which
remained almost unchanged compared to the previous year (8.32
trillion tenge or $18.24 billion).
“The EBITDA figure for 2024 amounted to 2.00 trillion tenge ($4.26
billion), which slightly decreased compared to 2023 when it was
2.01 trillion tenge ($4.4 billion),” underscored KazMunayGas.
However, the company’s net profit significantly increased to 1.094
trillion tenge ($2.33 billion), which is 18 percent more than in
2023 (0.93 trillion tenge or $2.03 billion). This improvement is
attributed to higher profitability and effective management
decisions.
Additionally, the adjusted net profit amounted to 1.264 trillion
tenge ($2.69 billion), which is 25% more than in 2023 (1.012
trillion tenge or $2.22 billion).
The company also improved its free cash flow, which increased to
1.199 trillion tenge ($2.56 billion), compared to 0.984 trillion
tenge ($2.16 billion) in 2023.
As for debt obligations, the total debt as of December 31, 2024,
was 3.97 trillion tenge ($7.56 billion), a slight decrease compared
to 3.76 trillion tenge ($8.27 billion) at the end of 2023.
“The company’s net debt decreased to 1.163 trillion tenge ($2.21
billion) compared to 1.645 trillion tenge ($3.62 billion) at the
end of 2023, which also reflects a good financial position,” noted
the company.
JSC "National Company KazMunayGas" is the leading
vertically-integrated oil and gas company of Kazakhstan. KMG
manages assets across the entire production cycle, from exploration
and extraction of hydrocarbons to transportation, refining, and
provision of specialized services. Founded in 2002, the company
represents Kazakhstan’s interests in the country’s oil and gas
industry.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and
Amortization) is a financial performance indicator that reflects
the company's profit before interest, taxes, depreciation, and
amortization are deducted. EBITDA is used to assess a business's
operational profitability, as it excludes the effects of tax and
financial decisions, as well as depreciation and amortization,
which can vary depending on the specifics and age structure of the
company’s assets.
