The financial statements of "AzerGold" CJSC and its subsidiaries - "Dashkasan Iron Ore" LLC and "AzerBlast" LLC for the year-end 2025 have been announced.
According to the financial statements, which received a positive auditor's opinion following financial audits conducted by "PricewaterhouseCoopers" (PwC), an internationally renowned independent audit firm, positive trends were recorded in the joint financial results of the Joint-Stock Company and its subsidiaries.
Concluding the past year with high revenue and profit, the Company further strengthened its position across all performance metrics.
Overall, compared to 2024, sales revenues grew by 46% in 2025, rising from USD 182.69 million to USD 266.45 million. During the reporting year, the gold sales price increased by 37%, and the total sales volume increased by 4%, totaling 73.3 thousand ounces of gold and 93.2 thousand ounces of silver. In addition, the operations of the subsidiary "AzerBlast" LLC during the past year contributed approximately 3% to the formation of the total sales revenues.
As a result of the increase in production volume and sales revenues in 2025, the EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of "AzerGold" CJSC and its subsidiaries, which serves as an indicator of operating profit, increased by 58.52% and was recorded at USD 142.48 million. Consequently, the net profit increased by USD 49.04 million, or 148.5%, compared to 2024, reaching USD 82.06 million.
By the end of 2025, the value of the total assets of the Joint-Stock Company and its subsidiaries reached USD 573.63 million, which is 17.5% more compared to the previous year.
Furthermore, in 2025, the net working capital of "AzerGold" CJSC and its subsidiaries increased by 86.4% to USD 196.11 million, while the total equity grew by 22.3%, amounting to USD 489.05 million.
The financial metrics of "AzerGold" CJSC and its subsidiaries for 2025 are clear proof of the group's high financial sustainability and effective financial management. While a debt-to-equity ratio of 1.0 is considered a satisfactory indicator for mining companies in international practice, this indicator for "AzerGold" CJSC decreased from 0.07 to 0.04 in 2025. Additionally, the credit obligations of the company were fully closed by the end of the reporting year.
You can follow the link to get acquainted with the consolidated financial results for 2025 in detail.
