BAKU, Azerbaijan, June 22. The group of companies under Kazakhstan's Samruk-Kazyna National Welfare Fund recorded a net profit of 1.9 trillion Kazakh tenge ($4.2 billion) in 2022, Nazira Nurbayeva, Fund's Managing Director for Economy and Finance said, Trend reports.
"The positive production indicators, combined with high commodity prices, had a positive impact on the financial results of the group. Revenue reached 14 trillion Kazakh tenge ($31.3 billion), representing a growth of 4 trillion Kazakh tenge ($8.9 trillion) compared to the previous year. This is an improvement of 26 percent," said Nazira Nurbayeva.
She went on to add that the revenue growth was also driven by increased sales of refined gold and a 48 percent growth in the sale of processed gas products.
"In 2022, the group achieved a record net profit of 1.9 trillion Kazakh tenge ($4.2 billion), exceeding the target plan by 24 percent. The high price of oil had an effect, with Brent crude oil projected at $90 per barrel in our plan, but the actual price averaged $100 per barrel," she said.
Samruk-Kazyna is a Kazakh wealth fund and a joint stock company that holds significant ownership stakes, either wholly or partially, in several prominent companies within the country. Among its portfolio are key entities such as the national railway and postal service, the state-owned oil and gas enterprise KazMunayGas, the state uranium company Kazatomprom, as well as Air Astana.
