Azerbaijan Railways` accumulated losses exceed AZN 1 bn


August 9, Fineko/abc.az. Total assets of Azerbaijan Railways (ADY) amounted to AZN 3.757 bn as of 1 January 2018.

According to the ADY financial statements, the figure is 3% more than on 1 January 2017.

During the reporting period the total amount of ADY’s liabilities grew by 13.9% up to AZN 2.9 bn, while the total capital decreased by 22.3% to AZN 856.8 million, including the authorized capital rise by 11% up to AZN 806.06 million.

In 2017 ADY’s operating income totaled AZN 384.648 million (by 5.95% against 2016) and operating expenditures AZN 427.596 million (15.4% more), other expenditures AZN 510.286 million (8.6% less), and the payment of income tax AZN 2.309 million (the amount was saved a year ago).

As a result, ADY closed 2017 with net loss of AZN 555.5 million. This is 11.85% more than in 2016.

During the reporting period, ADY’s accumulated losses more than doubled and reached AZN 1.1 bn. It should be noted that ADY has not yet published the financial statements for 2018.