National Atomic Company “Kazatomprom” JSC (“Kazatomprom”, “KAP” or “the Company”) announces its consolidated financial results for six months ended 30 June 2025, prepared in accordance with International Financial Reporting Standards (IFRS).
“As the world’s largest producer and seller of natural uranium, Kazatomprom fully recognises the critical role the Company has in supporting the global energy transition. We remain committed to delivering long-term value to all stakeholders. Kazatomprom is currently undertaking a large-scale exploration in Kazakhstan, which is a top priority for replenishing its resource base and maintaining its leading position as a global nuclear fuel supplier,” said Meirzhan Yussupov, CEO of Kazatomprom.
“Despite the volatility in the spot uranium market and the broader capital markets, some of which may be due to uncertainty brought by the tariff wars, uranium long-term price has remained stable at 80 US dollars per pound proving that fundamentals remain strong. However, the Company does not view the current market developments to be sufficient to return to the Company’s initial 100% levels at this time, which are now being decreased by roughly 8 million pounds, cutting about 5% of the world’s primary supply.
“Kazatomprom takes its role in strengthening global energy policy seriously. Its leadership in ESG, combined with the scale of its operations, enables the Company to remain a reliable and responsible supplier of natural uranium globally. We are ready to participate in diversification of utilities’ supply sources, and our strong position in this new cycle of long-term contracting reflects the trust and confidence the market places in us.”
2026 Production Strategy
Following a comprehensive review of operational progress, market conditions, and construction timelines at the newly launched mines, Kazatomprom presents the following information related to its 2026 production plans.
The Company continues to adhere to its established market-centric approach, ensuring that uranium supply remains closely aligned with demand and that production decisions are driven by long-term value considerations rather than volume growth targets. In line with this approach, the Company does not view the current supply-demand balance and existing uncovered demand as sufficient to incentivise a return to its 100% levels at this time.
Therefore, as part of ongoing operational enhancements, a number of Company’s mining subsidiaries are in process of amending their Subsoil Use Agreements. These amendments establish new nominal licensed production levels for the affected entities, thereby changing the reference benchmarks against which actual production is measured and decided. Concurrently, negotiations with joint venture partners, aimed at refining final 2026 production plans, remain in progress.
Detailed in the newly published 2024 Competent Person’s Report on the mineral assets of the Company (CPR), 2026 nominal production level (on a 100% basis) is expected to change from 32,777 tonnes (around 85 million pounds) of U3O8 (as per previous Subsoil Use Agreements) to 29,697 tonnes (about 77 million pounds), representing about 3,000 tonnes (~8 million pounds) or roughly a 10% decrease, most of which is attributable to JV Budenovskoye’s production adjustments.
In line with the updated Development Strategy for 2025–2034, which emphasises efficient use of the resource base, the Company expects to exercise its downflex opportunity within the acceptable 20% deviation under the updated 2026 Subsoil Use production levels. Actual 2026 production guidance remains subject to ongoing negotiations with JV partners and broader market considerations, and will be provided within the 2026 operational guidance disclosure.
Sulphuric acid supplies for 2026 are estimated to be stable. Diverse geological characteristics of the Company’s assets, combined with residual effects from past supply constraints, may lead to variations in uranium recovery rates and different percentage rate decreases compared to the levels stipulated in the Subsoil Use Agreements across individual mining operations.
The Company maintains a robust inventory position and a disciplined sales strategy, ensuring that all delivery obligations will be met in full while retaining flexibility to respond quickly to market developments. Worth highlighting that Kazakhstan’s intentions to build three nuclear power plants could create a substantial domestic demand in the future. With each plant requiring around 400 tonnes (1.04 Mlbs) of uranium annually, over the entire operational lifetime, this may translate to a cumulative demand of 72 thousand tonnes (187.2 Mlbs). A portion of the Company’s production could be therefore allocated to national needs over time.
Corporate Update
Commencement of a new processing plant at JV KATCO
As announced earlier in July, JV KATCO, the Company’s joint venture with Orano, launched the new uranium processing plant that marks the successful implementation of the South Tortkuduk project. The new processing plant has an annual capacity of 2,000 tU, dedicated to uranium solutions from the southern area of the deposit, which is expected to gradually replace currently exploited areas.
The commissioning of this plant will allow the South Tortkuduk mine to reach its full nominal capacity, however the JV KATCO’s actual 2026 production targets will be determined based on aforementioned Kazatomprom’s 2026 production strategy.
Budenovskoye-6,7 and TQZ project updates
As previously announced, Development Bank of Kazakhstan and Taiqonyr Qyshqyl Zauyty LLP (TQZ) concluded an agreement on opening a credit line to finance the construction of the sulphuric acid plant with a capacity of 800 thousand tonnes per year in Taikonur, Turkestan region. The total cost of the investment project is about 113 bln tenge, the amount of loan financing from the Development Bank of Kazakhstan is expected at 85 bln tenge. At the moment, the mobilisation and preparatory works have been completed.
The project on construction of a processing shop with an annual capacity of 6,000 tonnes of uranium at Budenovskoye 6,7 is progressing in accordance with its schedule. Currently, the mobilisation of personnel, machinery and equipment has been completed, as well as laying out communications. Construction of auxiliary infrastructure is underway.
Completion of 2024 dividend payment and Amendments to the Dividend Policy
The Company has completed the payment of its 2024 dividends to shareholders on 22 July 2025. A total of KZT 327,857,875,304.96 (three hundred twenty seven billion eight hundred fifty seven million eight hundred seventy five thousand three hundred and four tenge 96 tiyn) or KZT 1,264.12 (one thousand two hundred and sixty four tenge 12 tiyn) per one ordinary share (one GDR is equal to one ordinary share) was paid out to the Company’s shareholders, according to the decision adopted by the Annual General Meeting of Shareholders (the AGM) held on 27 May 2025.
The AGM also approved amendments to the Company’s dividend policy in terms of revising the approach to calculating consolidated free cash flow. The revision mainly relates to excluding cash flows attributable to non-controlling interests and taking into account proceeds from investment activities, specifically the disposal of assets and dividends received by the Company’s subsidiaries from their associated and jointly controlled entities. The amended calculation formula will be applied when determining the amount of dividends to be distributed based on the results of 2025 and beyond.
Key financial metrics
| Six months | |||
| ended 30 June | |||
| (KZT billion unless noted) | 2025 | 2024 | Change |
| Group’s consolidated revenue | 660.2 | 701.1 | (6%) |
| Operating profit | 253.7 | 226.7 | 12% |
| Net profit | 263.2 | 571.7 | (54%) |
| Earnings per share attributable to owners (basic and diluted), KZT/share1 | 779 | 1,857 | (58%) |
| Adjusted EBITDA2 | 363.1 | 377.0 | (4%) |
| Attributable EBITDA3 | 302.4 | 273.9 | 10% |
| Operating cash flow4 | 532.9 | 322.3 | 65% |
Operating and Financial Review and Financial Statements
The Operating and Financial Review, and Consolidated Financial Statements (unaudited, reviewed) provide detailed explanations of Kazatomprom’s results for the first half-year ended 30 June 2025. This press release should be read alongside these documents, all of which are available at www.kazatomprom.kz.
Revenue, Net profit, EBITDA
For the first half of 2025 the Group’s consolidated revenue amounted to KZT 660,167 million, a decrease of 6% compared to the same period of 2024 (KZT 701,120 million for the first half of 2024) which is mainly attributable to a decrease in sales volume.
Operating profit in the first half of 2025 was KZT 253,665 million, a 12% increase compared to the same period of 2024 (KZT 226,723 million in the first half of 2024), which was mainly due to a decrease in the cost of sales related to lower share of purchased uranium from JV’s and associates in the total volume of sales to third-parties.
In the first half of 2025 other income amounted to KZT 4,525 million in comparison to other income of KZT 336,423 million in the same period of 2024, originated primarily from a one-time effect – gain of KZT 295,719 million from the consolidation of JV Budenovskoye starting from 1 January 2024.
Net profit in the first half of 2025 decreased by 54% compared to the same period of 2024 amounting to KZT 263,233 million (KZT 571,746 million in the first half of 2024), while net profit adjusted for one-time effects has showed an insignificant decrease of 5%, amounting to KZT 263,233 million (KZT 276,027 million in the first half of 2024). Higher 2024 net profit results were mainly associated with the one-time gain from the consolidation of JV Budenovskoye in 2024. In addition, adjusted Net profit for the reporting period was negatively impacted by a net foreign exchange loss of KZT 12,741 million (compared to an exchange rate gain of KZT 7,341 million in the first half of 2024).
Adjusted EBITDA totalled KZT 363,111 million in the first half of 2025, an insignificant decrease of 4% compared to the same period of 2024 (KZT 377,013 million in the first half of 2024), which is mainly attributable to a decline in the share of results of JVs and associates for the reasons stated above.
Attributable EBITDA was KZT 302,408 million in the first half of 2025, an increase of 10% compared to the same period of 2024 (KZT 273,902 million in the first half of 2024) mainly due to the decrease in EBITDA of the mining subsidiaries with non-controlling interest as explained above.
Cost of sales
Cost of sales totalled KZT 373,666 million in the first half of 2025, a decrease of 16% compared to the same period of 2024 (KZT 443,363 million in the first half of 2024) primarily due to a decrease in the sales volume of uranium purchased from JVs and associates and sold to third parties.
The cost of materials and supplies amounted to KZT 220,522 million in the first half of 2025, a decrease of 26% compared to the same period of 2024 (KZT 296,869 million in the first half of 2024) due to the decrease in the volume of sales of uranium purchased from JVs and associates. When such uranium is sold, the cost of sales is predominantly represented by the cost of purchased material at the prevailing spot price with certain applicable discounts.
Selling expenses
Selling expenses totalled KZT 12,012 million in the first half of 2025, a 12% year-on-year increase (KZT 10,760 million in the first half of 2024). The increase was mainly due to changes in the delivery destination points for uranium products, an increase in transportation tariffs, as well as the weakening of KZT against USD, as a significant portion of shipping, transportation and storing expenses are denominated in foreign currency. A notable increase in rent expenses in the first half of 2025 is also associated with the changes in the delivery destination points for uranium products.
General & administrative expenses (G&A)
G&A comprised KZT 20,824 million in the first half of 2025, reflecting an insignificant increase compared to the same period of 2024 (KZT 20,274 million in the first half of 2024).
Liquidity
The Group manages its liquidity requirements to ensure the continued availability of cash sufficient to meet its obligations on time, avoid unacceptable losses, and settle its financial obligations without undermining its reputation.
| (KZT million) | As at June 30, 2025 | As at December 31, 2024 | As at June 30, 2024 | Change for six months of 2024 |
| Cash and cash equivalents | 583,885 | 294,385 | 152,100 | 98% |
| Term deposit (deemed as cash equivalents) | 28 | 28 | 17 | 0% |
| Total cash | 583,913 | 294,413 | 152,117 | 98% |
| Undrawn borrowing facilities | 116,551 | 101,346 | 116,922 | 15% |
As at 30 June 2025 total cash and cash equivalents, including current term deposits, amounted to KZT 583,913 million, increasing by 98% compared to KZT 294,413 million as at 31 December 2024 and more than 3.5 times higher in comparison to KZT 152,117 million as of 30 June 2024, mainly due to the accumulation of cash prior to the distribution of the 2024 dividends. Other explanations are presented in the section 7.4 Cash Flows of The Operating and Financial Review.
The Undrawn borrowing facilities as of reporting date amount to KZT 116,551 million (USD 224 million) and consists of:
- corporate credit lines in the amount of KZT 108,791 million (USD 209 million); and
- available for selection portion of the loan of JV Budenovskoye LLP received from the Eurasian Development Bank (EDB) in the amount of KZT 7,760 million (USD 15 million).
Corporate credit lines available to the Group are an additional liquidity source payable within 12 months, primarily used to cover temporal cash deficits related to uneven receipts of trade receivables.
Debt leverage ratios
The following table summarises the key ratios used by the Company’s Management to measure financial stability. Management targets a net debt to adjusted EBITDA of less than 1.0.
| (KZT million) | As at June 30, 2025 | As at December 31, 2024 | As at June 30, 2024 | Change for six months of 2025 |
| Total debt (excluding guarantees) | 192,025 | 149,953 | 131,665 | 28% |
| Total cash balances (see Section 7.1) | (583,913) | (294,413) | (152,117) | 98% |
| Net debt | (391,679) | (144,460) | (20,452) | 171% |
| Adjusted EBITDA* | 1,082,809 | 1,096,711 | 874,389 | (1%) |
| Net debt / Adjusted EBITDA (coefficient) | (0.36) | (0.13) | (0.02) | 177% |
Uranium segment production and sales metrics
| Six months | ||||
| ended 30 June | ||||
| 2025 | 2024 | Change | ||
| Production volume of U3O8 (100% basis) | tU | 12,242 | 10,857 | 13% |
| Mlbs | 31.8 | 28.2 | 13% | |
| Production volume of U3O8 (attributable basis)1 | tU | 6,431 | 5,777 | 11% |
| Mlbs | 16.7 | 15.1 | 11% | |
| U3O8 sales volume (consolidated) | tU | 7,625 | 7,779 | (2%) |
| Mlbs | 19.8 | 20.2 | (2%) | |
| Including KAP U3O8 sales volume2 | tU | 6,987 | 6,717 | 4% |
| Mlbs | 18.2 | 17.5 | 4% | |
| Group inventory of finished goods (U3O8) | tU | 6,677 | 6,132 | 9% |
| Mlbs | 17.4 | 15.9 | 9% | |
| Including KAP inventory of finished goods (U3O8)3 | tU | 5,372 | 4,142 | 30% |
| Mlbs | 14.0 | 10.8 | 30% | |
| Group average realized price | KZT/kg | 77,928 | 77,261 | 1% |
| USD/lb | 58.54 | 66.19 | (12%) | |
| KAP average realized price4 | USD/lb | 57.27 | 62.47 | (8%) |
| Average weekly spot price | USD/lb | 69.11 | 92.62 | (25%) |
| Average month-end spot price5 | USD/lb | 69.38 | 91.10 | (24%) |
Production on both a 100% basis and an attributable basis were higher in the first half of 2025 compared to the same period in 2024, due to an increase in 2025 production plan in line with the Company’s guidance for 2025 compared to 2024.
As was reported in the beginning of 2025, JV Inkai has resolved the approval issue and has resumed its mining operations at block No. 1 of the Inkai deposit that were suspended for a short period of time in January 2025. Anticipated decrease in JV Inkai’s 2025 production target is not expected to materially affect Kazatomprom’s production plans for 2025, which might, however, end up closer to the lower limit of the current guidance. The Company remains fully committed to fulfilling its contractual obligations towards all existing customers and has sufficient level of inventories to comfortably manage its deliveries throughout 2025.
In the first half of 2025, sales for the Group were slightly lower compared to the same period in 2024, while KAP sales exceeded the 2024’s first half volumes. The variation in sales volumes at both the Group and KAP levels is due to the timing of customers’ request of scheduled deliveries. Sales volumes can vary substantially each quarter, and quarterly sales volumes vary year to year due to variable timing of customer delivery requests during the year, and physical delivery activity.
Consolidated Group inventory of finished goods (U3O8) as at 30 June 2025 amounted to 6,677 tonnes (17.4 Mlbs), a 9% year-on-year increase (6,132 tonnes / 15.9 Mlbs as at 30 June 2024). At the Kazatomprom HQ and THK level, the inventory of finished U3O8 products increased by 30% to 5,372 tonnes (14.0 Mlbs) compared to 4,142 tonnes (10.8 Mlbs) as at 30 June 2024. The increase in inventory in the first half of 2025 was mainly due to the higher planned production levels in comparison to the previous period.
The 24% decline in the spot price during the reporting period had a limited effect on the Group’s and Kazatomprom’s average realized prices, with them decreasing by 12% and 8%, respectively, compared to the same period in 2024. The Company’s current sales portfolio includes long-term contracts linked to the uranium spot prices. Certain deliveries under long-term contracts in 2025 incorporated a portion of fixed pricing components, including price ceilings that were negotiated during a different price environment.
In the uranium market, the trends in quarterly metrics and interim results are rarely representative of annual expectations; for annual expectations, please see the Company’s guidance metrics, as well as its price sensitivity table from section 10.1 Uranium sales price sensitivity analysis of the Operating and Financial Review.
Uranium segment costs and capital expenditures
| Six months | ||||
| ended 30 June | ||||
| (KZT million unless noted) | 2025 | 2024 | Change | |
| C1 Cash cost (attributable basis) | USD/lb | 17.86 | 16.80 | 6% |
| Capital cost (attributable basis) | USD/lb | 12.95 | 11.26 | 15% |
| All-in sustaining cash cost (attributable C1 + capital cost) | USD/lb | 30.81 | 28.10 | 10% |
| Capital expenditures of mining companies (100% basis)1 | 160,546 | 125,906 | 28% | |
C1 Cash cost (attributable) and All-in-sustaining cash costs, AISC (attributable C1 + capital cost) for the first half of 2025 increased by 6% and 10%, respectively, in USD equivalent compared to the same period of 2024. The increase in C1 Cash cost was primarily due to an increase in the MET tax rate (see section 4.4 Taxation and Mineral Extraction Tax (“MET”) of the Operating and Financial Review, as well as increase in the cost of sulphuric acid (see section 4.5 Cost and availability of sulphuric acid of the Operating and Financial Review).
Generally, AISC increased due to an overall increase in capital cost on an attributable basis; capital expenditures of mining entities (100% basis) in the first half of 2025 totalled KZT 160,546 million (compared to KZT 125,906 million in the first half of 2024). A 28% CAPEX increase is primarily due to expansion of wellfield development activities, increase in costs of construction of wells and infrastructure, as well as a rise in purchase prices for materials, supplies, equipment and cost of drilling (see section 6.0 Capital Expenditures Review of the Operating and Financial Review).
Health, safety and environment (HSE) results in the first half of 2025
The table below shows key labour protection and industrial safety metrics for the first half of 2025 and 2024:
| Six months
ended 30 June |
|||
| Indicator | 2025 | 2024 | Change |
| Industrial accidents1 | – | – | – |
| LTIFR (per million man-hours)2 | 0,06 | 0,12 | (50%) |
| Unsafe conditions, unsafe actions, near-miss reporting | 16,263 | 16,931 | (4%) |
| Number of accidents3 | 1 | 2 | (50%) |
| Fatalities | 1 | – | – |
In the first half of 2025, active measures were continued in the field of industrial safety, which made it possible to prevent major industrial accidents, including uncontrolled explosions, emissions of hazardous substances, and the destruction of buildings.
The Group continues to pay great attention to improving health and safety in the workplace. However, despite the set of measures taken in the first half of 2025, one (1) fatal accident occurred with a driver at Volkovgeologia JSC due to a road traffic accident. In accordance with the legislation of Republic of Kazakhstan a special state investigation is being conducted chaired by the Labour Inspector of the Turkestan Region.
Following the special state investigation, a thorough internal investigation will be conducted, the root causes will be identified, corrective/preventive measures will be developed and procedures will be revisited to prevent similar incidents in the future. The results of the investigation will be communicated to all Group enterprises so that they can learn from the incident and adjust their processes accordingly. The Company will continue to work to increase the level of involvement and awareness of employees in matters of industrial safety.
Kazatomprom’s 2025 Updated Guidance
| Updated Guidance for 2025 | Previous Guidance for 2025 | ||
| 520 KZT/1 USD | 520 KZT/1 USD | ||
| Production volume U3O8 (100% basis)1, 2 |
tU | 25,000 – 26,500 | 25,000 – 26,500 |
| Mlbs | 64.99 – 68.89 | 64.99 – 68.89 | |
| Production volume U3O8 (attributable basis)2,3 |
tU | 13,000 – 14,000 | 13,000 – 14,000 |
| Mlbs | 33.79 – 36.40 | 33.79 – 36.40 | |
| Group sales volume (consolidated)4 |
tU | 17,500 – 18,500 | 17,500 – 18,500 |
| Mlbs | 45.50 – 48.10 | 45.50 – 48.10 | |
| Incl. KAP sales volume (included in Group sales volume)5 |
tU | 13,500 – 14,500 | 14,000 – 15,000 |
| Mlbs | 35.10 – 37.70 | 36.40 – 39.00 | |
| Revenue – consolidated6 | KZT bln | 1,600 – 1,700 | 1,600 – 1,700 |
| Revenue from Group U3O8 sales6 | KZT bln | 1,400 – 1,500 | 1,400 – 1,500 |
| C1 cash cost (attributable basis)* | USD/lb | 16.50 – 18.00 | 16.50 – 18.00 |
| All-in sustaining cash cost (attributable C1 + capital cost)* |
USD/lb | 29.00 – 30.50 | 29.00 – 30.50 |
| Total capital expenditures of mining entities (100% basis)7 |
KZT bln | 385 – 415 | 385 – 415 |
As previously reported in Kazatomprom’s 2Q25 Operations and Trading Update, the Company leaves all guidance metrics for 2025 unchanged, except for the KAP sales volume range, which is reduced by 500 tonnes. This adjustment resulted from a shift in 2025 delivery schedule, where a contract delivery has been re-scheduled to a later period as per the customer’s request.
Revenue, C1 cash cost (attributable basis) and All-in Sustaining cash cost (attributable C1 + capital cost) may vary from the ranges shown, to the extent that the USD/KZT exchange rate and uranium spot price differ significantly from the Company’s assumptions.
The Company only intends to update annual guidance in relation to operational factors and internal changes that are within its control. Key assumptions used for external metrics, such as exchange rates and uranium prices, are established using third-party sources during the Company’s annual budget process in the previous year; such assumptions will only be updated on an interim basis in exceptional circumstances.
Conference Call Notification – 2025 Half-Year Operating and Financial Review (22 August 2025)
Kazatomprom has scheduled a conference call to discuss its 2025 half-year operating and financial results, after they are released on 22 August 2025. The call will begin at 17:00 (AST) / 13:00 (BST) / 08:00 (EDT). Following management remarks, an interactive English Q&A session will be held with investors.
For the English live webcast registration and conference call dial-in details, please visit: https://sparklive.lseg.com/JSCNationalAtomicCoKazatomprom/events/17cf86b5-f50b-4456-917f-8452ef2714db/2025-half-year-operating-and-financial-review-conference-call
For the Russian live webcast registration and corresponding dial-in details, please visit:
A recording of the webcast will be available at www.kazatomprom.kz shortly after it concludes.
For more information, please contact:
Investor Relations Inquiries
Botagoz Muldagaliyeva, Director, Investor Relations
Tel: +7 7172 45 81 80 / 69
Email: ir@kazatomprom.kz
Public Relations and Media Inquiries
Daniyar Oralov, Director, Public Relations
Tel: +7 7172 45 80 63
Email: pr@kazatomprom.kz
A copy of this announcement is available at www.kazatomprom.kz.
About Kazatomprom
Kazatomprom is the world’s largest producer of uranium with the Company’s attributable production representing approximately 21% of global primary uranium production in 2024. The Group benefits from the largest reserve base in the industry and operates, through its subsidiaries, JVs and Associates, 27 deposits grouped into 14 mining assets. All of the Company’s mining operations are located in Kazakhstan and extract uranium using ISR technology with a focus on maintaining industry-leading health, safety and environment standards.
Kazatomprom securities are listed on the London Stock Exchange and Astana International Exchange. Kazatomprom is the national atomic company in the Republic of Kazakhstan. The Group’s primary customers are operators of nuclear generation capacity, the principal export markets for the Group’s products are Asia, Europe and North America. The Group sells uranium and uranium products under long-term contracts, short-term contracts as well as in the spot market, directly from its headquarters in Astana, Kazakhstan, and through its Switzerland-based trading subsidiary, Trade House KazakAtom AG (THK).
For more information, please see the Company website at www.kazatomprom.kz.
Forward-looking statements
All statements other than statements of historical fact included in this communication or document are forward-looking statements. Forward-looking statements give the Company’s current expectations and projections relating to its financial condition, results of operations, plans, objectives, future performance and business. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future.
THE INFORMATION WITH RESPECT TO ANY PROJECTIONS PRESENTED HEREIN IS BASED ON A NUMBER OF ASSUMPTIONS ABOUT FUTURE EVENTS AND IS SUBJECT TO SIGNIFICANT ECONOMIC AND COMPETITIVE UNCERTAINTY AND OTHER CONTINGENCIES, NONE OF WHICH CAN BE PREDICTED WITH ANY CERTAINTY AND SOME OF WHICH ARE BEYOND THE CONTROL OF THE COMPANY. THERE CAN BE NO ASSURANCES THAT THE PROJECTIONS WILL BE REALISED, AND ACTUAL RESULTS MAY BE HIGHER OR LOWER THAN THOSE INDICATED. NONE OF THE COMPANY NOR ITS SHAREHOLDERS, DIRECTORS, OFFICERS, EMPLOYEES, ADVISORS OR AFFILIATES, OR ANY REPRESENTATIVES OR AFFILIATES OF THE FOREGOING, ASSUMES RESPONSIBILITY FOR THE ACCURACY OF THE PROJECTIONS PRESENTED HEREIN.
The information contained in this communication or document, including but not limited to forward-looking statements, applies only as of the date hereof and is not intended to give any assurances as to future results. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to such information, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the Information that may result from any change in the Company’s expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date hereof.
Source: Kazatomprom
