Nazira Nurbayeva, the Managing Director of the Fund for Economics and Finance has told about it today at the press briefing devoted to the financial results of 2022.

Stable growth rates

In 2022, the companies of Samruk-Kazyna Group overcame the consequences of the pandemic and resumed stable growth. This is evidenced by the improvement in the key performance indicators of the company. This had a positive impact on the financial indicators of the Fund. The revenue of Samruk-Kazyna JSC by the end of 2022 amounted to KZT14 785 billion. This is 26 percent more than in 2021. Net income reached a record for KZT1.922 billion. This is 18% more than the year before. The debt/EBITDA financial stability coefficient has improved to 1.7.

Last year Samruk-Kazyna JSC received KZT493 billion in dividends from Portfolio Companies. This is almost twice as much as a year earlier, which had a positive impact on the amount of payments in favor of the Sole Shareholder - the Government of Kazakhstan, which increased to KZT302 billion. It is important to note that this amount includes both the payment of dividends and funds directed to the Fund’s financing of social projects implemented on behalf of the shareholder. In 2023 the Fund is planning to increase the amount of payments to the Sole Shareholder, as well as to allocate funds to Kazakhstan Khalkyna PF and transfer the funds from privatization of assets in the amount of KZT481 billion to the National Fund of the Republic of Kazakhstan.

Journalists’ questions

The press briefing traditionally was met with great interest among the media. In particular, they asked Nazira Nurbayeva about the transfer of at least 70% of net income in the form of dividends to the Sole Shareholder.

“This norm applies to companies whose activities are managed by public authorities. At the same time, the Fund shares are not transferred to the management of individual public authorities, the Government of Kazakhstan is a direct shareholder of the Fund. As part of the Instructions of the Head of State, following the discussion with the public authorities concerned, the Government of the Republic of Kazakhstan has approved the updated Dividend Policy. As of today, the execution of standards of the Dividend Policy in 2022 amounted to 124%”, - she responded.