Kazatomprom

Mar 17, 2023

03/01 03/17/2023 | 04:05am EDT Message : By Kyle Morris NAC Kazatomprom JSC said Friday that it met guidance in 2022, booking increased revenue and profit, as the average uranium price rose and due to the weakening of the tenge against the dollar. The world's largest uranium producer posted an operating profit of 456.0 billion Kazakhstan tenge ($981 million) compared with KZT238.2 billion a year earlier mainly due to an increase in average realized price of uranium sold. Revenue was KZT1.00 trillion compared with KZT691.0 billion a year before, primarily due to the increase in the average realized price associated with an increase in the spot price, and the weakening of the tenge against the dollar in 2022. "2022 has tested our risk-management practices, which have proven to be resilient in key areas of performance, such as finance, operations and the supply chain. Our risk-management processes and mitigation plans have remained robust, the company continues to monitor the overall situation and responds to the challenges of a changing environment," Kazatomprom's Chief Executive Yerzhan Mukanov said. Kazatomprom said it is well positioned to benefit from improving market dynamics and maximize value for stakeholders through continued production and sales discipline. Write to Kyle Morris at kyle.morris@dowjones.com (END) Dow Jones Newswires