Kazmunaygas Reports Strong Financial Performance In 1Q2024
Date
5/26/2024 2:15:05 AM
(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 26. KazMunayGas (KMG),Kazakhstan's national oil and gas company, revealed its keyfinancial indicators for 1Q2024, showcasing robust growth, Trend reports.
As such, according to the data released by KMG, the company'srevenue surged to an impressive 2.227 trillion tenge ($4.948billion), marking a significant increase of 18 percent compared tothe same period last year, where revenue stood at 1.887 trilliontenge ($4.149 billion).
Moreover, KMG's earnings before interest, taxes, depreciation,and amortization (EBITDA) remained strong, reaching 548 billiontenge ($1.218 billion) for 1Q2024. However, this figure representsa slight decrease from the EBITDA of 550 billion tenge ($1.210billion), reported in the corresponding period of 2023.
Furthermore, the company's net profit, inclusive of its share ofprofit in jointly controlled entities and associated companies, inthe reporting period of 2024 amounted to 300 billion tenge ($667million) - up by over 4 percent year-on-year (287 billion tenge, or$631 million, in 1Q2023).
Meanwhile, the volume of sales of KazMunayGas' own-produced oiland gas condensate in 1Q2024 amounted to 6.124 million tons. Thismarked an increase of 3.2 percent compared to the same period lastyear.
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