Baku, Azerbaijan, July 3
By Kheyraddin Nasirzade – Trend:
Azerbaijani alcohol manufacturer “Goygol Wine Plant” OJSC increased its share capital by 55 million manats in 2018, Trend reports with reference to the financial report of the plant.
According to the report, the share capital as of December 31 last year amounted to 55.461 million manats. Compared to 2017, capital reserves decreased by almost half, reaching 2.224 million manats. Unpaid losses amounted to 17.254 million manats. As a result, the total capital amounted to 40.431 million manats.
Total operating income amounted to 10.337 million manats, of which rental income amounted to 101,695 manats. Operating expenses for the year increased by almost 30 percent, reaching 11.687 million manats. As a result, losses amounted to 1.35 million manats. Losses increased due to extraordinary expenses worth 5.239 million manats, which in total with operating losses amounted to 6.479 million manats.
The total assets of the plant over the past year decreased by 6.9 percent, amounting to 46.203 million manats. In the asset structure, the main assets in the form of real estate and equipment amounted to 20.013 million manats. Intangible assets amounted to 126,988 manats. Cash and cash equivalents increased by 2.8 times, up to 504,215 manats.
Stocks of unsold products decreased by almost 15 percent, amounting to 22.168 million manats. Short-term receivables increased by 17.2 percent to 3.086 million manats. Other short-term assets decreased by 8.3 percent, reaching 303,627 manats.
Total liabilities decreased by almost 10 times, to 5.771 million manats. Among the liabilities, the main share was taken by short-term liabilities worth 5 million manats. The remaining amount was distributed between taxes and other obligatory payments (687,357 manats) and short-term payables (84,308 manats).