Azerbaijani Aqrolizinq company’s assets increase

Finance Materials 9 January 2020 14:58 (UTC +04:00)
Azerbaijani Aqrolizinq company’s assets increase

BAKU, Azerbaijan, Jan. 9

By Eldar Janashvili – Trend:

The volume of total assets of Azerbaijan’s Aqrolizinq OJSC in the balance sheet for 2018 amounted to 1.2 billion manat ($705.8 million), Trend reports referring to Aqrolizinq’s audit report.

The company's assets grew by 23.2 percent compared to the previous year.

Two-thirds of assets accounted for long-term assets - 725.9 million manat which is $427 million (an increase of 30.3 percent) - most of which was long-term receivables in the amount of 686.2 million manat ($403.6 million), which grew by almost 33 percent year-on-year.

Some 28.6 million manat ($16.8 million) accounted for land, buildings and equipment. Investments in capital amounted to 10.5 million manat ($6.2 million). Intangible assets on an annualized basis increased by 61.3 percent and amounted to 581,300 manat ($341,941).

The company’s short-term assets amounted to over 423 million manat ($248 million), of which about 51 percent accounted for deferred reserves and about 18 percent for the issued advance payments.

Cash and cash equivalents amounted to 59.5 million manat ($35 million), an increase of 3.3 times. Short-term receivables amounted to 48.3 million manat ($28.4 million), slightly increasing compared to 2017. Other short-term assets amounted to 24 million manat ($14 million).

(1 USD = 1.7 AZN on Jan. 9)


Follow the author on Twitter: @eldarjanashvili