KEGOC is limited in the ability to increase revenues due to the state regulation of marginal tariffs, which makes it unattractive for investment.
The company's net profit for the first half of 2023 grew 1.5 times to KZT23bn, while operating income increased by 11.3% to KZT114.4bn. Despite this, capital expenditures and limited potential for tariff increases will negatively impact free cash flow and dividends. On 27 September 2023, the company decided on a secondary placement of shares (SPO), expected on the AIX exchange in early November 2023.
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