Yukos - der neue Börsenstar? - 500 Beiträge pro Seite

[Balti]

Nach dem "Überflieger" Aeroflot ist mit Yukos nun schon der zweite russische Blue Chip in Folge erfolgreich im Ausland platziert worden. Yukos wird an der Berliner und Münchener Börse unter der WKN 632319 gehandelt. In München ist allerdings noch kein Umsatz. Die Umsätze in Berlin betrugen heute auch nur 32.000 EURO. Obwohl Yukos schon in Rußland im Vorfeld der ADR-Platzierung gestiegen ist, sollte das Kurspotential bei einem KGV von 2-3 und einem Kurs von 45 EUR noch nicht ausgeschöpft sein. Dieser Wert ist in Deutschland noch völlig unbekannt. Also, warum immer eine LUKoil oder Tatneft kaufen. Yukos ist bei 45 EUR auch noch preiswert. Was meint ihr?

[gholzbauer]

http://www.aton.ru/en/research/daily.asp?y=2001&m=4&d=20&tmo…

20.4.2001

Yukos announced yesterday announced a further dividend for 2000 in the amount of R2.58 (at today`s exchange rate, this would be $0.098). The ex-dividend date is set for 4 May. The company had declared an interim dividend of R1.26 in January (which, at the January exchange rate, amounts to $0.044). Overall for 2000, the company will have paid R3.84 ($0.13 at yesterday`s exchange rate), bringing the dividend yield for 2000 to about 4.8% at yesterday`s share price. Yukos generated an estimated $2.4bn in operating cash flow last year. We expect EBITDA to fall by 12% in 2001, but at a 2001 EV/EBITDA of about 1.7, the company is still very attractive.

[gholzbauer]

http://www.prospect.com.ru/Archives/Research/YUKO140301_E.pd…

[gholzbauer]

http://www.aton.ru/en/research/daily.asp?y=2001&m=5&d=16&tmo…

YUKOS $3.025 - BUY


Does not plan to seek NYSE listing, expects output growth above average
Yukos CEO Mikhail Khodorkovsky said yesterday that Yukos does not plan to seek a NYSE listing in the near future. This contradicts earlier statements by Yukos`s executives that the company would seek a NYSE listing and issue a Level 3 ADR after completing the Level 1 ADR program.

In our view, this is a negative development for Yukos, as liquidity in its OTC ADR issue remains low and a NYSE listing would allow Yukos to improve share liquidity and gain access to a much wider and diverse potential shareholder base. As the number of Russian oil companies seeking increased participation of foreign portfolio investors rises, the NYSE listing is likely to increasingly become a significant advantage in competition for investors` dollars.

Separately, Khodorkovsky said that Yukos oil output would increase to 1.3mn-1.6mn bpd in the next 5-10 years, which implies CAGR of 3%-10%. Khodorkovsky`s forecast of the total Russian oil production in 5-10 years is 8.4mn bpd, CAGR of 3%-5%. We find the Yukos forecast of above-average production growth rate reasonable, driven mostly by the continued development of the large Priobskoye field and reserves in East Siberia.

[gholzbauer]

http://www.aton.ru/en/research/daily.asp?y=2001&m=5&d=21&tmo…

YUKOS $3.065 — BUY


To place further 2% of equity with non-US investors.
Yukos announced that it has retained two global investment banks to place 2% of its equity with non-US investors. The placement is tentatively scheduled to take place in 2H01.

We believe that Yukos has almost completed its transformation from a market pariah to Russian blue-chip leagues and the upcoming placement, if successful, will further improve liquidity and solidify Yukos` position as one of Russian market bellwethers.

We also believe that the management will likely continue supporting the share price ahead of the offering, which means that current shareholders will continue to enjoy implicit free "put option" on Yukos shares for at least the next 3-6 months.


Anmerkung: 1 ADR = 15 Original-Aktien

[gholzbauer]

http://www.aton.ru/en/research/daily.asp?y=2001&m=5&d=29&tmo…

YUKOS $3.210 — HOLD

Will start publishing US GAAP financial reports on a quarterly basis
Yukos said Monday it would start releasing US GAAP financial reports on a quarterly basis starting in July 2001, a first for Russian oils. According to the company`s Vice President Bruce Nisamore, the changes in reporting are timed to take place ahead of the planned placement of Level 2 and 3 ADRs. In March 2001, Yukos issued Level 1 ADRs. Yukos management estimates that around 2% of the company`s voting shares are now converted into ADRs.

[Balti]

@gholzhauer
Vielen Dank für Deine tatkräftige Unterstützung. Bist Du mit von der Partie? Ich habe Yukos bei 45 EUR etwas zu spät gekauft, aber es hat sich noch gelohnt: heute neuer Jahreshöchstkurs bei 57 EUR. Die werden wohl noch weiter steigen. Yukos ist das erste russische Unternehmen überhaupt, das quartalsweise nach US-GAAP berichten wird, oder kennst Du andere? Die Corporate Governance hat sich wohl wesentlich verbessert und die Fundamentaldaten stimmen auch: über 2,6 Mrd USD Nettogewinn und ein KGV von 2,7 für 2000. Für dieses Jahr wird ein Nettogewinn von 2 Mrd USD erwartet, womit das01-KGV mit 3,5 immer noch extrem niedrig ist. Yukos go!

[Upturner]

Hallo Ihr Zwei. Dann sind wir ja schon 3, die Yukos haben.
Meine andere Ölis sind Bitech, Tatneft, Lukoil VZ.


www.lukoil.de

[gholzbauer]

Hallo Upturner,
bist Du der Vatikan CEO?

Dann habe ich Deinen Text von uptotrade entführt:



30/05/2001 YUKOS expects guarantees for payment of regional part of bonus from Talakansky deposit (Interfax)

YUKOS will provide a guarantee on a credit of $200.4 million to pay the federal part of a bonus on the Talakansky deposit in Yakutia only if the Yakutsk parliament permits the republican government to borrow the regional part of this bonus, in the amount of $300.6 million, company Vice President Yuri Beilin said at a press conference in Yakutsk on Monday. Beilin said that the credit to pay the federal part of the bonus will be granted to Sakhaneftegaz by two Russian banks - Trust Investment Bank and Menatep St. Petersburg. Under guarantees from YUKOS, which also takes on responsibility for interest payments. Sakhaneftegaz, which won a tender at the start of April this year and received the right to draw up a license, does not have the financial resources to pay the bonus of $501 million, YUKOS, which is Sakhaneftegazs strategic partner, agreed to guarantee a credit of $200.4 million for Sakhaneftegaz to pay the federal part of the bonus. The Yakutia government decided to postpone payment of the regional part of the bonus and submitted this decision to parliament. The YUKOS vice president met with parliamentary deputies on the eve of the opening of the Tuesday session of the upper house, the agenda for which includes discussion of a draft law on amendments to the regional budget for 2001, including the issue of Yakutia government borrowing. Earlier the lower house of the republican parliament approved a draft law on state support for the development of Talakansky deposit and the relevant changes in the budget. Regarding the economic aspects of the development of the deposit, Beilin said that YUKOS considers it to be inexpedient to build a pipeline of abut 1,000 kilometers to the city of Tommot (south Yakutia) and to build a refinery with a capacity of 1.6 million tonnes of oil in this district. According to YUKOS estimates, the pipeline should be continued to Angarsk (Irkutsk region), where there is already a refinery and a developed petrochemical industry.

29/05/2001 Russia`s YUKOS To Connect Pipelines (Dow Jones)

Russian oil giant OAO YUKOS (R.YUK) will spend $24 million on connecting the Adriatic pipeline with the Friendship pipeline via Hungary, in order to sell Russian oil in the world market, Vilaggazdasag reports. YUKOS has signed agreements on transit fees with all countries involved except Ukraine. Hungarian oil and gas company MOL Rt. (R.MOL) would benefit from the fees, the paper adds.

29/05/2001 YUKOS to restart shipping diesel fuel to Hungary (Interfax)

Russian oil company YUKOS would like to start using the existing pipeline to Hungary, out of use since 1991, again, the company`s PR manager Andrei Krasnov said in Budapest Monday. The company would transport diesel fuel through the pipeline, Krasnov said, but did not elaborate whether Hungary would be a destination or merely a transit country to other destinations, according to MTI-Econews. YUKOS, the second largest oil company in Russia, but the largest private one, does not plan to enter the retail fuel business in Hungary, according to Krasnov. Last year, the company exploited 50 million tons of crude oil, which it plans to increase to 56 million tons this year. In 2000, YUKOS net profits were USD 3 billion in 2000, Krasnov said. YUKOS supplies 70% of the crude oil consumed in Hungary. MOL Hungarian Oil and Gas Company imported 5.7 million tons of crude oil in 2000 and extracted about 1.1 million tons in Hungary. No PSA yet with Russian government for MOL-YUKOS joint venture MOL and YUKOS have agreed to set up a joint exploration project at the Zapadno-Malobaykskoye oil field in the Khanty-Mansiysk autonomous region of western Siberia, but have not yet signed a production sharing agreement (PSA) with the Russian government. Nevertheless, MOL expects production to start before the end of the year. The oil field has proven reserves of about 20 million tons, and maximum production level of 1.3 million tons a year are expected to be reached three years into the project. YUKOS wants to connect Druzhba and Adria pipelines YUKOS also wishes to connect the Druzhba pipeline with the Adria pipeline, in cooperation with MOL, Krasnov said. The Druzhba transports oil from Russia to Hungary, while the Adria runs northward from the Croatian port of Omisalj toward Hungary to Szazhalombatta, where MOL has its refinery. Both Hungary and MOL will realize extra revenues from transit fees by making possible shipments from Hungary toward Croatia in addition to the current Croatia-Hungary direction, according to Krasnov.

28/05/2001 YUKOS to begin issuing quarterly GAAP reports in July (Interfax)

Russian oil major YUKOS will begin issuing quarterly financial reports to Generally Accepted Accounting Principles (GAAP) in July, a top company executive said on Saturday.
YUKOS vice president for economics and finance Bruce Misamore, speaking at a company executive board meeting in Belgorod, said YUKOS would become the first Russian company to provide quarterly reports to GAAP standards.
YUKOS has to be ready to issue level-two and level-three American Depositary Receipts if shareholders make such a decision, Misamore said. About 2% of YUKOS shares have now been converted to level-one ADRs, he said.
The U.S. Securities and Exchange Commission granted YUKOS permission to issue ADR-1 on March 12 of this year. One ADR represents 15 shares. Under the terms of the registration, up to 20% of the company`s shares can be converted into ADR-1.
Misamore also said that YUKOS plans to soon change its registrar, but it has not yet been able to find an independent company that could act as the company`s registrar.


27/05/2001 YUKOS`s Khodorkovsky on Production Sharing Agreements: Comment (Bloomberg)

Belgorod, Russia. Mikhail Khodorkovsky, chief executive of AO YUKOS Oil Co., Russia`s No. 2 oil producer, made the following comments on the country`s oil production sharing agreements, which provide tax breaks to investors and are seen by some analysts as key for attracting foreign investment to the industry.
He spoke at a press-conference on Friday:
`If our foreign colleagues would like to have production sharing agreement to stabilize the tax regime, then I support that. If they want production sharing agreements that are more favorable than the existing national tax regime, already accepted by some people as the basis for their work, then I`m against it as it does not make sense.
``I`m not against production sharing agreements per se, I just support the idea that agreements should fit the existing national tax regime.
``If production sharing agreements are a different tax regime, why should we have two in one country?
``We all talk about transparency. But is it transparent when a company secures an (exploration) license and then hold talks with officials that are closed to the public for two years`` on production sharing agreement terms.
``Is it fair?
``Neither is there justification for using production sharing agreements for hard-to-recover oil fields, as we have a lot of reserves that are easy enough to extract.``


27/05/2001 YUKOS 4-Mth Oil Output Rose at Fastest Pace in Russia (Bloomberg)

Belgorod, Russia. AO YUKOS Oil Co. said it increased crude oil output 16.3 percent in the first four months of 2001, the fastest of any company in the world`s third-biggest oil supplier, as Russia`s No. 2 oil producer boosted exploration.
YUKOS almost tripled spending on oil production to 6.2 billion rubles ($214 million) in the four months to April 30, compared to the year-earlier period, helping it boost output to 18 million tons (1.1 million barrels a day), from 15.5 million tons. It also increased refining 15 percent to 9.6 million tons of oil processed.
After two years when world crude prices stayed near 10-year highs, oil producers in the world`s third-largest crude supplier are investing profits to boost output and cut costs. Many are spurred by memories of 1998, when oil prices hit as low as $ 10 a barrel, below extraction costs for some producers, forcing YUKOS to post a loss, bankrupting one major producer and helping push Russia into default on $40 billion of Treasury debt.
``The oil production and refining growth rates are very good,`` YUKOS Chief Executive Mikhail Khodorkovsky said Saturday. ``The problem is with production and marketing operating costs, though it`s not that big with refining business.``
YUKOS plans to double investments to $850 million this year, boosting production by as much as 16.9 percent to 58 million tons. It drilled 111 new wells in the first four months of 2001.
The company last year boosted output by 11.4 percent, again the largest increase in Russia. It also expects to increase refining 7.9 percent this year to 28.8 million tons this year, compared with a 5 percent increase in 2000.
Memories of 1998
Brent crude for July delivery fell for a fifth day Friday, declining 5 cents, or 0.2 percent, to $28.48 a barrel.
``The problem with operating costs will hit us painfully when oil prices drop,`` Khodorkovsky said. ``We do not want to repeat the situation in 1998, when we had to cut staff.``
YUKOS, whose production costs averaged $3.20 a barrel last year, said its operating costs had risen this year as electricity tariffs and oil transport charges increased, said Yuri Beilin, president of the company`s exploration and production division. He didn`t give figures.
The company posted a 3.2 billion ruble loss in 1998, when oil averaged $ 13.30 a barrel, falling as low as $9.60 on Dec. 10. The collapse in prices for its biggest export earner helped spark Russia`s financial crisis of August 1998, when the government defaulted on some of its debt and let the ruble devalue by 70 percent. OAO Sidanco, once Russia`s No. 6 producer, was placed into bankruptcy proceedings in early 1999 as a result of the low oil prices.
After the Organization of Petroleum Exporting Countries cut production quotas in March 1999, oil rose to as high as $26.09 a barrel on Dec. 16 of that year and has stayed above $20 a barrel since then.
Russian Output
That spurred Russia, which has little influence on world prices, to boost output.
The country`s oil production rose 6.2 percent over the first four months, according to YUKOS. OAO Sibneft, Russia`s No. 6 oil producer, was second to YUKOS in boosting production with a 16.0 percent increase, followed by state oil company RAO Rosneft, which increased output by 9.7 percent.
YUKOS also boosted gas production 9.2 percent to 546 million cubic meters of gas. The company wants to further increase gas production in the longer term and build gas-fired power generators to cut expenses on power bills it now pays to RAO Russian Unified Energy Systems, the nation`s electricity monopoly.
OAO Surgutneftegaz, Russia`s No. 3 oil producer, plans to this month start operating its first two gas-fired generating units. The plants art part of Surgut`s $ 135 million investment program to build 11 power generators by 2004 and cut costs by producing its own electricity, using natural gas produced as it extracts crude, at a cost that`s 40 percent of what it now pays UES for power.
YUKOS shares rose 7.5 cents, or 2.4 percent, to $3.20 on Friday.



27/05/2001 YUKOS hopes to sign agreement on feasibility study for Russia-China oil pipeline this year (Interfax)

YUKOS says that an agreement on the development of a feasibility study for the construction of an oil pipeline from Russia to China can be signed this year, Nikolai Bychkov, president of YUKOS-PM, told reporters after signing an agreement with the Belgorod region in Belgorod.
"We have made considerable progress in negotiations with the Chinese side, which are entering their final stage," he said.
On Sunday, May 27, a YUKOS delegation is flying to China to continue negotiations on the project, he said.
As was reported earlier, the negotiation participants are considering two options for the pipeline`s location: through the territory of Mongolia to China or bypassing Mongolia.
According to Bychkov, YUKOS will extract 57-58 million tonnes of oil this year against 49 million tonnes last year.
Speaking about the possibility that YUKOS will buy a controlling package of shares in the Angara Petrochemical Company, Bychkov noted that they are hoping to work with the U.S. company UOP to take the Angara Petrochemical Company "to the top" of Russian oil processing.
"We are ready to supply 12-15 million tonnes of oil a year to the Angara Petrochemical Company, if the market allows," he said.
YUKOS is planning to complete the purchase of the controlling package of shares in Angara Petrochemical Company by June 20. The annual meeting of YUKOS shareholders is scheduled to take place on the same date.


24/05/2001 YUKOS reiterated `Strong Buy` at Troika Dialog (Bloomberg)

YUKOS (YUKO RU) was reiterated ``strong buy`` by analyst Valery Nesterov at Troika

[Upturner]

Ja

[Balti]

Ich hatte es ja im Urin. Yukos wurde in kurzer Zeit der neue Börsenstar. Vielen Dank für Eure tatkräftige "Mithilfe". Ich hoffe, ihr habt alle kräftig von dem Tip profitiert. Von 42 auf 60 EUR fast in einem Rutsch ist doch schon was. Und Yukos ist immer noch kaufenswert. Ich glaube aber, ich nehme ein Teil der Gewinne so bei 60 EUR mit und mach für den Rest meinen Stop-win bei 55 EUR. Ob Norilsk Nickel wohl auch so eine Kursrakete nach Einführung wird? Ich liebe die russischen Aktien, denn sie halten, was sie versprechen: viel Knete!

Russia and Yukos go!

Gruß Balti

[Upturner]

Balti
hast Du schon eine Kennung von Norilsk am OTC für morgen ? Werden nur OTC gehandelt.

[Upturner]

NLKNF

auf www.nasdaq.com gefunden

[Balti]

Yukos geht ja im Moment ab wie Nichts. Ich habe Euch ja gesagt: (nur) durch Russenaktien wird man reich. Wie gut, daß ich nicht alle Yukos verkauft habe. Bei 3,3 Mrd USD Nettogewinn nach US-GAAP verdient eine Yukos sogar mehr als eine Lukoil, die 3,6 mrd uSD nach RAS verdient haben. Die US-GAAP-Zahlen werden bei LUKoiol wohl niedriger sein. Yukos ist jetzt schon bei 65 EUr und wir sind seid 45 EUR drin. Ich liebe russische Aktien.

Gruß Balti

[Balti]

Yukos ist für mich nach wie vor der "neue Börsenstar". ich verstehe es gar nicht, daß die Umsätze in diesem Super-Titel so gering sind. Im RTS zählt Yukos zu den liquidesten Aktien. Nach US-GAAP verdiente Yukos immerhin 1,5 Mrd USD und im Gesamtjahr wohl über 3 Mrd USD. Die Rentabilität ist wesentlich besser als bei LUKoil. Der Kurs knallte heute nach oben, nachdem der Moskauer Börsenbrief die Aktie am Wochenende erneut zum Kauf gestellt hat. Die Rettungsaktion mit Kvaerner wertet Yukos auch enorm auf, obwohl ich von Kvaerner nicht viel halte. Die haben noch enorm Kohle in der Kriegskasse. Mit Yukos hat man dieses jahr kein Geld verlosren, sondern gewonnen (dies ist der Unterschied zum Rebound am Neuen Markt). Wann werden wir wohl neue Jahreshöchstkurse sehen?

Yukos goo!

Gruß Balti

[Upturner]

ich werde im januar, wenn die lukoil dividende in k euro eintrifft, yukos weiter aufstocken
ist für mich ein langfristinvestment
am neuen markt bin ich aber auch dabei, dort findet man auch qualität zum ausverkaufspreis
deag, tv loonland, thiel bei 14,senator, kontron, jumptec, teleplan und noch einiges mehr

[casel]

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