Azerenergy’s assets increase
Baku, Azerbaijan, July 3
By Eldar Janashvili - Trend:
Following the results of 2018, the total assets of Azerenergy OJSC increased by 1.7 percent compared to 2017, Trend reports with reference to the company's financial report.
The report states that total assets as of December 31 last year amounted to 3.71 billion manat.
In the structure of assets, fixed assets in the form of real estate and equipment amounted to 2.785 billion manat, which is 74.566 million manat more than in 2017. The volume of advances issued for the purchase of fixed assets almost doubled, reaching 88.979 million manat.
The volume of deferred tax assets decreased 4.6 times, reaching 48.603 million manat. The remaining long-term assets increased by 62.4 percent to 36.065 million manat.
The volume of stocks of goods and materials increased by 10.1 percent and reached 102.2 million manat. The volume of returned funds from the budget on VAT decreased to 227.58 million manat or by 31.6 percent.
Loans issued, together with receivables, increased 2.2 times and reached 57.07 million manat. Advance payments increased by 62.4 percent, reaching 79.989 million manat. The volume of cash and cash equivalents almost doubled, reaching 287.697 million manat.
The total liabilities of the company for the reporting period decreased by 3.9 percent and amounted to 2.527 billion manat.
The volume of loans and other debt obligations decreased by 21.3 percent, reaching 1.256 billion manat.
Government subsidies decreased by 17.2 percent to 88.632 million manat. Deferred tax liabilities increased 2.6 times, reaching 103.7 million manat. Liabilities on liquidated assets decreased by 11.3 percent and amounted to 31.435 million manat. Trade and other payables amounted to 1.441 million manat.
The volume of short-term liabilities increased significantly by 22.5 percent, reaching 1.046 billion manat, including short-term loans and other liabilities increased by 26.9 percent to 452.19 million manat.
Trade and other short-term payables increased by 19.7 percent, amounting to 561.4 million manat. The income tax liability increased 3.5 times, reaching 5.249 million manat. Tax liabilities in addition to income tax amounted to 27.986 million manat.
The total capital of the company significantly increased (by 16.3 percent) and reached 1.186 billion manat. The authorized capital of 1.76 million manat remained unchanged.
The volume of accumulated losses compared to the previous year increased by 210.26 million manat, amounting to 2.332 billion manat. The losses on foreign exchange reserves increased 4.4 times, reaching 3.998 million manat.
($1-1.71 AZN on July 3)