The main production and financial results of KEGOC for the last 9 months of 2024, investment attractiveness factors and development plans of the company were discussed at the KEGOC issuer day, which took place in Astana on the AIX International Exchange platform.
In her speech, Aigul Akimbayeva, Managing Director for Economics and Finance of KEGOC noted the positive dynamics of the company's income growth. The company's operating profit for the first 9 months of 2024 amounted to KZT 59 billion, an increase of 59%, the net profit amounted to KZT 47 billion, which is KZT 18.4 billion or 64% higher than the same period in 2023.
The main factors for improving the indicators include an increase in the volume of services provided, as well as the elimination of losses on electricity purchase/sale transactions in order to compensate for imbalances (about to KZT 9 billion in 2023 and 18 billion in 2022) as a result of changes in the electricity market model implemented in the second half of 2023.
According to the financial director, the company's shares are showing positive dynamics. The total amount of trades since the SPO (November 2023) amounted to KZT 18.1 billion, reflecting high liquidity in the securities market. Given the positive dynamics of the results of the latest reporting periods, as well as a loyal dividend policy, the company's shares have growth potential in the near future. Financial analysts are positive about the growth prospects for KEGOC shares: Halyk Finance: KZT 1906, SKY Bridge Invest: KZT 1882, Jusan Invest: KZT 1845, BCC Invest: KZT 1778, Freedom Broker increased its forecast from KZT 1590 to KZT 1760.
The amount of accrued dividends for the entire period of placement of the Company's shares amounted to more than KZT 282 billion. Dividends were paid for the first half of 2024 (November 1) in the amount of KZT 22.7 billion (KZT 82.40 per ordinary share), which is a historical maximum since the IPO. In 2024, total dividend payments reached approximately KZT 44.6 billion, which amounts to KZT 161.9 per ordinary share.
According to KEGOC representatives, the company's shares are a reliable and stable instrument for long-term investment. This is confirmed by the company’s position on the market as a System Operator, managing the national power grid and providing system services to energy market entities.
Elvira Konakhbayeva, Managing Director for Strategy and Sustainable Development at KEGOC, told those present that by the end of 2024, the company expects to achieve all adopted planned indicators for strategic KPI.
According to the Managing Director, a list of projects that will be implemented using artificial intelligence has been identified to solve operational problems that will improve the efficiency of dispatch control.
Four major investment projects are currently in the active implementation phase:

• reinforcement of electrical network of Zone South;
• unification of the Western energy system with the unified power system of the Republic of Kazakhstan;
• construction of power grid facilities in order to strengthen the external power supply system of Astana;
• continuation of the second stage of rehabilitation of the company's electrical networks, covering all regions of presence.

It was noted that since the beginning of 2024, the ratings of KEGOC have been confirmed by international rating agencies:

• Fitch Ratings upgraded long-term ratings from 'BBB-' to 'BBB', Outlook Stable (2 February 2024);
• Moody's Investors Service affirmed the rating at Baa2, outlook Positive (12 February 2024);
• Standard & Poor's Global affirmed the rating at "BB+" with a stable outlook (19 March, 2024).

These ratings are in line with the positive outlook for Kazakhstan's sovereign rating and the rating of the main shareholder of KEGOC.