Baghlan Group FZCO, a diversified conglomerate with interests in oil & gas exploration and production, trading, construction and transportation in Azerbaijan, announces an issuance of the audited consolidated financial statements for 2012 prepared in accordance with the International Financial Reporting Standards.
The Group reported increase in revenue by 10% and 1.5 times increase in EBITDA compared with previous year. The Group's total assets increased by 70.2% compared with previous year.
The Group's consolidated financial statements were audited by KPMG, one of the leading accounting firms in the world. KPMG issued unmodified opinion on the consolidated financial statements of the Group.
Baghlan Group FZCO, a diversified conglomerate with interests in oil & gas exploration and production, construction and transportation in Azerbaijan, is one of the first private companies in Azerbaijan to enter oil and gas sector and first private corporation to issue a 3-year debt instrument in the international capital markets.