Press releases

KEGOC operational performance for the first ten months: a net profit of KZT 32.7 billion

KEGOC earned KZT 32.7 billion in net profit for the first ten months of 2023. Profit increased by 70% compared to the same period in 2022 (KZT 23 billion for the first ten months of 2022). The previous plan called for a net profit of KZT 31.5 billion in 2023.

From January to October of current year, the revenue from core activities was KZT 197 billion. The revenue from core activities increased by KZT 23 billion when compared to the same time in 2022.

The company's revenue increased mainly due to income from regulated services as a result of an increase in tariffs and an increase in the volume of services provided.

The total consolidated expenses for the first ten months of 2023 amount to KZT 168 billion.

Electricity consumption in Kazakhstan for 10 months of this year amounted to 93.9 billion kWh, which is 2.5% more than in the same period last year. The volume of services for the transmission of electricity amounted to 35.9 billion kWh, the volume of services for using the national power grid was 22.7 billion kWh.

The recent SPO of KEGOC reduced Samruk-Kazyna ’s stock in KEGOC to 85%. The SPO saw increased interest from all types of investors, especially retail investors. As a result, the SPO organizers received more than 50 thousand bids totalling KZT 34.8 billion. Thus, demand exceeded the planned placement volume by more than 1.5 times.

KEGOC shareholders receive dividends twice a year. Based on H1 2023 performance, KEGOC paid dividends totalling KZT 20.2 billion, or 87% of net profit. According to KEGOC’s dividend policy, at least 60% of net profit must be allocated to pay dividends.

NB: KEGOC is the System Operator of the Unified Power System of Kazakhstan, and it owns and manages the assets of the national power grid (NPG). The company operates as the natural monopoly. It owns about 27,000 km of 220-1150 kV electricity transmission lines and 82 electrical substations with more 38.99 GVA of installed transformer capacity. These lines and substations form the NPG. More detailed information about the Company is available at its corporate website:

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