Baku, Azerbaijan, July 3
By Heyraddin Nasirzade -Trend:
The total capital of Azerbaijani heat supply operator Azeristiliktechizat increased by 87.8 percent in 2018, Trend reports with reference to the plant’s consolidated financial report prepared by independent auditor Vusal Garayev.
The report states that the total capital as of December 31, 2018, amounted to 157.214 million manats. The authorized capital remained unchanged compared to 2017 and amounted to 136.684 million manats.
Capital reserves increased by 6.7 percent, reaching 88.678 million manats. Unpaid losses during the year significantly reached 68.148 million manats and decreased by almost 50 percent.
The total assets of the company compared with the previous year decreased slightly to 181.535 million manats.
In the structure of assets, 87 percent is occupied by fixed assets in the form of real estate and equipment, amounting to 158.165 million manats. Intangible assets more than doubled, reaching 92.479 thousand manats.
The reserves decreased by 8.6 percent, amounting to 10.322 million manats. Cash and cash equivalents nearly doubled, reaching 8.873 million manats. Other short-term assets decreased by 6.6 times, reaching 742,015 manats.
A significant reduction (four times) is observed in total liabilities - to 24.321 million manats. Obligations for long-term interest expenses amounted to 9.721 million manats.
Obligations for short-term interest expenses amounted to 1.215 million manats. Creditor and other short-term debt amounted to 13.022 million manats, which is 6.6 times less than in 2017.
Obligations for taxes and other obligatory payments decreased almost three times, reaching 361,503 manats.
($1-1.71 AZN on July 3)
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