"Baku Steel Company" CJSC (hereinafter "BSC" or "Group"), the
largest metallurgical company in the Caucasus region, has announced
financial and other key performance indicators for
2022 *.
In the consolidated financial statements of the Group, compared to
the previous year, the assets increased by 11% to 262.7 million
manats, and the equity increased by 82.3% to 87.7 million manats in
2022.
The net profit of the Group for 2022 increased by 7.5% compared to 2021 and amounted to 71.6 million manats.
An increase has been observed in both the production and sales figures of BSC. Thus, sales for 2022 increased by 30.5% and reached 392.9 million manats (VAT excluded). Production of crude steel – billet increased by 26.5%, while the production of rebar and wire rod increased by 35.5%. Production of pipe has increased more – it is equal to 36.8%. In 2022, the company produced 362 thousand tons of billets, 314 thousand tons of rebars and wire rods, and 26 thousand tons of pipes.
As a logical result of the increase in production and sales, both the number of employees of BSC and the taxes paid to the state budget have also increased. The number of employees, compared to last year, increased by 168 persons and amounted to 1902 persons by the end of 2022.
In the past year, the Group made 65.3 million manat tax and social insurance payments to the state budget.
It should be noted that, as one of the largest manufacturers of Azerbaijan, BSC produces high-quality rebars, wire rods, square and round billets, seamless pipes, as well as various shaped castings. Here it is also possible to manufacture channels, angle-bars, I-beams, square and round bars. During its operation period for more than 20 years, products of BSC that has become a well-known brand not only in Azerbaijan, but in the entire region, are sold in great demand in the local market, and have been exported to more than 20 countries in Europe, America and Asia.