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Azerbaijani Ganja Automobile Plant Production Association reveals net profit for 2018

Finance Materials 15 November 2019 14:01
Azerbaijani Ganja Automobile Plant Production Association reveals net profit for 2018

BAKU, Azerbaijan, Nov. 15

Trend:

In 2018, Azerbaijan’s Ganja Automobile Plant Production Association made a net profit of slightly over 1 million manat ($589,050), Trend reports citing the financial statements of this association.

During the reporting period, the car plant paid profit tax in the amount of 254,908 manat ($150,154).

The main operating income of the production association amounted to 99.8 million manat ($58.7 million). The cost of production increased by 22.5 percent, to 90.6 million manat ($53.3 million).

As a result, the total operating profit for 2018 amounted to 9.2 million manat ($5.4 million), and net operating profit – 1.2 million manat ($706,770).

The company’s assets at the end of 2018 are estimated at 58.4 million manat ($34.3 million), liabilities – 53.7 million manat ($31.6 million).

The total capital of the company at the end of last year amounted to 4.8 million manat ($2.8 million), the authorized capital – 3.5 million manat ($2 million).

The Ganja Automobile Plant has been operating since December 2004. Since 2006, the plant has been assembling all types of Belarusian trucks and tractors in Ganja city.

In 2018, the plant produced 1,303 MTZ tractors, 697 tractor trailers, 58 KAMAZ trucks, 100 URAL trucks, nine Haller industrial waste transport vehicles and other vehicles.

($1= 1.7 manat on Nov. 15).

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