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Azerbaijan’s energy operator increases assets almost by seven per cent

Oil&Gas Materials 2 May 2013 15:10 (UTC +04:00)
The assets of OJSC Azerenergy (electric power production and distribution in Azerbaijan) exceeded 5.33 billion manat as of December 31, 2012, compared to 4.99 billion manat in 2011,
Azerbaijan’s energy operator increases assets almost by seven per cent

Azerbaijan, Baku, 2 May / Trend E. Ismailov /

The assets of OJSC Azerenergy (electric power production and distribution in Azerbaijan) exceeded 5.33 billion manat as of December 31, 2012, compared to 4.99 billion manat in 2011, Azerenergy reported in its consolidated financial statement published in the official media on Thursday.

Last year, Azerenergy's long term assets grew by 6.8 per cent to 4.9 billion manat, and short term assets grew by 7.2 per cent to 442.48 million manat.

The authorised capital on the results of last year amounted to 1.76 billion manat, increasing by 12.8 per cent. The aggregate capital amounted to 2.02 billion manat, increasing by 13.8 per cent.

The energy operator's long term liabilities as of 2012 amounted to 1.93 billion manat compared to 1.82 billion manat in 2011. In turn, its short term liabilities reduced by 1.1 per cent to 1.39 billion manat.

The revenues totalled 749.9 million of manat compared to 672.47 million manat in 2011. This growth was achieved mainly due to the increased revenues from electric power sales which comprised 716.32 million manat.

The total revenues amounted to 158.55 million manat, decreasing by 17.6 per cent.

The total capacity of the power plants owned by the OJSC Azerenergy exceeds 6000MW. There are more than 200 substations with a capacity of 500, 330, 220 and 110 kilovolt-amperes, as well as six hydropower plants and 13 thermal power plants on its balance sheet.

The official exchange rate for May 2 is 0.7845 AZN / USD.

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