Thursday, June 2, 2022

Kazakhstan is Effectively Controlled By Russia. Its Companies Reporting Their Profits in Kazakhstani Tenge Saw Their Total Bottom-Line Profits in 2021 Increase By a Modest 7% From That in 2019. Its Companies Reporting Their Profits in US$s Did Even Worse, With Their Total Bottom-Line Profits in 2021 Declining By 6% From That in 2019.

From a review of the value.today/headquarters/kazakhstan website,  of the topforeignstocks/kazakhstan website, of the Kazkhstani Companies on the KASE Stock Exchange, of the Google Finance and Yahoo Finance websites, of the WSJ Markets website, of the investing.com website, and of Companies' Investor Relations websites, there were 14 Companies headquartered in Kazakhstan with stock market caps above US$ 100 mil or equivalent recently and that reported their Profits in all of the most recent three fiscal years 2021, 2020 and 2019.

The huge TengizChevrOil LP, whose Profits dwarf that of every other Kazakhstan Company, is 50% owned by US giant Chevron and 25% owned by US giant ExxonMobil.  Its profit numbers came from a Chevron Footnote to its 10-K financial statements.  It gets a separate Chevron footnote because it is of monumental economic importance to the giant Chevron. 

The table below shows the Consolidated Net Profit (Loss) from continuing operations for fiscal years 2021, 2020 and 2019 for each of these 14 Kazakhstani Companies, 11 of which reported in only KZT's, 2 of them in only US$s and 1 of them in both KZTs and in US$s.

Like Russia, Kazakhstan's financial reporting systems are antiquated.  The overwhelming majority of Kazakhstan's Companies on its KASE Stock Exchange still haven't reported their profits for 2021 yet.