Capital reserves of Azerbaijan’s Aqrolizinq OJSC greatly increase

Finance Materials 9 January 2020 15:03 (UTC +04:00)
Capital reserves of Azerbaijan’s Aqrolizinq OJSC greatly increase

BAKU, Azerbaijan, Jan. 9

By Eldar Janashvili - Trend:

The total liabilities of Aqrolizinq OJSC, Azerbaijan's agriculture leasing company, in the balance sheet for 2018, increased by 18 percent year-on-year and amounted to 469.8 million manat ($276.3 million), Trend reports referring to the Aqrolizinq’s audit report.

At the same time, a significant share of liabilities (87.5 percent) accounted for long-term liabilities worth 411.3 million manat ($241.9 million).

Aqrolizinq short-term liabilities for the year increased by 38.3 percent and amounted to 58.5 million manat ($34.4 million). Tax liabilities and other mandatory liabilities amounted to 21,500 manat ($12,647), having greatly increased over the year. Other short-term liabilities amounted to almost 43 million manat ($25.2 million), having increased almost 1.5 times over the year.

The share capital for the year remained unchanged and amounted to about 561.6 million manat ($330.3 million). The uncovered loss amounted to 40.4 million manat ($23.8 million), having decreased by 8 percent. Capital reserves amounted to almost 158 ​​million manat ($92.9 million), having increased by almost 8 times.

The total capital of Aqrolizinq for the reporting period increased by 26.4 percent, amounting to 679.1 million manat ($399.4 million).

($1= 1.7 manat on Jan. 9)