An open meeting of the Samruk-Kazyna Public Council, chaired by Bolat Zhamishev, dedicated to the Fund’s activities in 2022, was held in Astana today. Managing directors, as well as heads of portfolio companies of the Samruk-Kazyna Group told about the results of the work.

Positive financial results

In 2022, Samruk-Kazyna companies resumed steady growth. This is evidenced by the improvement of financial indicators. The revenue of the Samruk-Kazyna Group by the end of 2022 amounted to KZT14,785 billion. This is 26% more than in 2021. Net profit reached a record KZT1,922 billion. This is 18% more than a year earlier.

The strategic KPIs of the Fund Group have been fulfilled: the value of net assets, labor productivity and output of non-primary goods and services have increased. KZT493 billion of dividends were received from portfolio companies. This is almost twice as much as a year earlier. The dividends of Samruk-Kazyna to the Government of Kazakhstan increased to KZT302 billion. KZT170 billion of them were allocated directly to the state budget, the rest - for various social expenses. The implementation of the dividend policy amounted to 124%.

The role of portfolio companies

The meeting gathered representatives of the largest portfolio companies of the Samruk-Kazyna Group, such as KMG, KTZh, Kazatomprom, KEGOC. They spoke about their own impact on the economy of Kazakhstan, including key business indicators: the number and salaries of employees, the amount of dividends, financial and social stability.

Representatives of Samruk-Kazyna stated that, in general, the Fund’s Group of Companies has a significant economic effect on the economy of Kazakhstan. It is about KZT7.55 trillion. This amount includes taxes to the state budget, payments to the government as a shareholder, investment projects, purchase from Kazakhstani manufacturers and other indicators.

“The role of the Fund is to increase income in the form of dividends through improving the efficiency of companies. At the same time, now there is a big task to introduce a socially fair tariff system, which will also allow companies to increase revenues”, - NaziraNurbayeva said.

Questions of the society

The meeting of the Samruk-Kazyna Public Council was traditionally held in an open format with involvement of external experts. They were interested in such aspects of the Fund’s work as dividends to the Government of Kazakhstan, procurement, social responsibility. For example, the Head of the national ESG club, Aidar Kazybayev, asked about the prospects of KTZh green bonds. Representatives of the company replied that this is an important tool for attracting financing, but for their issue, the consent of the state is needed.  

Alua Zholdybalina from the Kazakhstan Institute for Strategic Studies under the President of the Republic of Kazakhstan raised the problem of delays in KTZh trains, which cause social tension. “In order to resolve radically this issue, we are negotiating with the German company Deutsche Bahn, so that they take over passenger transportation and solve this issue”, - Nurlan Sauranbayev, the Head of the Company, answered to her. He added that it is planned to establish a public council under Passenger Transportation JSC, which will protect the interests of citizens at the company level. Rakhim Oshakbayev, from the TALAP Center for Applied Research, asked KMG to explain the principles of financial reporting. The company’s management gave appropriate explanations.

“Today we tried to tell about the work that the Fund Group of Companies is doing and the effect they have on the socio-economic development of our country. I would like to thank the participants for today’s work”, - Bolat Zhamishev summed up.