|

| 2014 07 25 |

: APU, APU:MO

,

FAIR
.

2014

.
,
0 - 5% .
3,900
.

GDP per capita 2014 5,000

., 2020 10,000 .
.

.

2,500

7/2/2014

5/2/2014

2,000
3/2/2014

2013 6,685.9

3,133
434.7
.
2.3%.

3,000

1/2/2014

4,500

3,500

11/2/2013

46 45
21
.

5,000

4,000

9/2/2013

20

19,000
18,000
17,000
16,000
15,000
14,000
13,000
12,000
11,000
10,000
7/2/2013

2014 1- 4 58 .

.

5/2/2013

2014
92.6
1.9 .
2013 32
.

MNT
3,901
4,280
3,400
289,796
74,287,700
329,523.9
Neutral

52
52
()

() 6

3/2/2013

1/2/2013

, ,
.

1000
.

: 90

( )
( )
. ( )
. ( )
( )
P/E
P/B
ROE
ROA
EPS

()

H12014
260,088
190,794
69,294
92,679
-17,306
-18
8.2
-20.4%
-6.5%
-233.0
-18.7%
499

2013
2012
267,065 169,777
182,139 83,683
84,926 86,093
193,716 284,335
4,024 23,455
73
13
3.4
3.6
4.7% 35.0%
2.4% 18.7%
54.2
315.7
2.1%
8.2%
1,143
1,159

8%

20%

52%

20%

. .

2013

2012 A

2014 2015

105,620

98,097

72,095 73,973

5,106

28,835

12,902

6,403

996

1,195

1,857

626

38,750

46,441

34,892 41,905

59,907

22,194

23,304 24,469

64,156 168,969 173,420 178,095

107,955 222,586 233,715 245,401

-43,799

-53,617

-60,295 -67,306

169,777 267,065 245,515 252,067

67,442

57,678

1,229

46,513

23,683

20,445 24,534

20,929

33,992

37,391 41,130

16,241 124,461

99,569 89,612

86,093

86,881 96,307

84,926

284,335 194,713 204,449 245,339

142,790 138,947 127,781 150,539
141,546 55,766 76,668 94,800

/ /
/
/ ()

105,998 45,843 64,793 75,658

104,809 30,703
-1,189 -15,140
35,548
9,924 11,875 19,142
4,567
4,953 9,654
8,430
7,526
947
267
1,285
23,455
4,024 1,955
9,427
:

169,777 267,065 245,515 252,067

:

/ /

17.3

15.7
-
.
45

,
.
.
.
1900

( %)

1800

( %)

20%

2013 2014 2015

488

2012 A

59,066 66,148

1700
15%

1600
1500

10%

1400
5%
1300
0%

1/1/2013
2/1/2013
3/1/2013
4/1/2013
5/1/2013
6/1/2013
7/1/2013
8/1/2013
9/1/2013
10/1/2013
11/1/2013
12/1/2013
1/1/2014
2/1/2014
3/1/2014
4/1/2014
5/1/2014
6/1/2014
7/1/2014

07/18/14

07/04/14

06/20/14

06/06/14

05/23/14

05/09/14

04/25/14

04/11/14

03/28/14

03/14/14

02/28/14

02/14/14

01/31/14

01/17/14

01/03/14

-5%

1200

-10%
USD/MNT :

-15%

-
-5%
-
+3% - .

2014
154

.

1.9% 92.6
. 3,900
.

15.7
. 7-
.

111,668
2.8 . free float
.

. .

: +976-70121530
: +976-70121529
Email: erlan@golomtsecurities.com

, 3
,
:
+976-70121530
:
+976-70121529
Email:
info@golomtsecurities.com
Website: www.golomtsecurities.com

- .

.
.
. , , -
, .
.
.