Net income of APU JSC, which has the highest market capitalization, reached MNT 24.87 billion in 2017 and increased by 8.7 times compared to the previous year. The financial statements show that sales income has increased by 12.8 percent. The report shows that the company lost MNT 26.5 billion from foreign currency exchange in 2016, and the gross profit was MNT 2.4 billion in 2017. General and administrative expenses increased by MNT 6 billion annually. In February, the company announced that it will distribute 42.8 percent of its net profits or MNT 10.6 billion as dividends. This is the largest dividend ever for its shareholders. 

The Mongolian Stock Exchange reported that APU’s share price has fallen 28.5 percent from the date of APU’s consolidation agreement with Heineken International. Preparatory work has lasted for two years. In 2017, APU has made a change to its securities after the shareholders’ meeting in August, approval of the Mongolian Stock Exchange in October and approval of the Financial Regulatory Commission in November. 

Heineken, which has 165 companies in more than 70 countries, owns about 25 percent of APU JSC. According to the agreement, APU expects to expand its exports and to enter the international market. “This will introduce the best know-how for the liquid food industry and improve the efficiency of the operation,” APU said.

Source: BloombergTv.mn