Baku, Azerbaijan, July 5
By Kheyraddin Nasirzade - Trend:
Azersun Holding, a big holding in Azerbaijan, has increased total assets by 9.2 percent in 2018, Trend reports with reference to the holding’s consolidated financial report prepared by Grant Thornton LLP.
According to the report, the holding’s total assets as of December 31 last year, amounted to 705.379 million manats, which is 59.278 million manats more than in 2017.
In the structure of assets, fixed assets in the form of real estate and equipment over the past year increased significantly by 44.5 percent, amounting to 213.892 million manats. Biological assets increased almost 3.6 times, to 5.662 million manats. Intangible assets increased by more than six times, reaching 1.96 million manats.
Financial assets at fair value through other comprehensive income amounted to 23.046 million manats, which wasn’t observed in 2017. Investments in affiliated enterprises increased by 3.4 percent, reaching 8.902 million manats. The volume of investment property decreased by seven percent, to 4.166 million manats. Deferred tax assets increased by almost 31 percent, reaching 8.971 million manats.
Stocks of unsold products decreased by 10 percent to 244.734 million manats. Trade and other receivables also decreased by 15.7 percent, amounting to 149.317 million manats. The volume of funds from related parties decreased significantly by 39 percent, reaching 9.282 million manats. Cash and cash equivalents increased almost 3.3 times, amounting to 35.443 million manats.
Cumulative liabilities increased by 9.5 percent to 426.033 million manats. In the structure of liabilities, long-term debt liabilities decreased by almost 20 million manats, reaching 73.534 million manats. Long-term financial lease debt increased almost three times, to 619,780 manats. Deferred income from financial lease debt amounted to 70,805 manats.
The volume of short-term debt liabilities, which make about 33 percent of cumulative liabilities, increased significantly by 72.7 percent to 141.606 million manats. Trade and other payables increased significantly by 38 percent, exceeding 91 million manats. Liabilities to related parties decreased by almost 20 percent, amounting to 118.319 million manats.
The report said that the total capital of the holding over the past year increased by 8.7 percent, amounting to 279.346 million manats. In particular, the authorized capital increased by almost 17.5 million manats, to 90 million manats. The volume of retained earnings increased by almost 4.5 million manats, amounting to 189.611 million manats.
(1.7 manats = 1 USD on July 5)
---
Follow the author on Twitter: @1nasirzade
