12:27 - 23.06.2020

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June 23, Fineko/abc.az. Azerbaijan’s electric supplier Azerishig finished 2019 with net loss of AZN 54.9 million against net profit of AZN 12.9 million for 2018.

ABC.AZ informs with reference to Azerishig’s report that company's revenues amounted to AZN 1.232 bn (rise: 2.3%) and prime cost of sales AZN 1.134 bn (rise: 3.4% versus 2018).

At the same time, distribution expenses amounted to AZN 47 million (9.1% more), administrative expenses AZN 62.1 million (21.6% more), loss on commercial receivables AZN 15.6 million (32.4% more), other expenses AZN 6.7 million (49.3% less), other income AZN 102,000 (99.8% less), net financial expenses AZN 19.8 million (3-fold more), and profit tax payments AZN 1.8 million (89.5% less).

As of 1 January Azerishig's assets amounted to AZN 2.32 bn (by 3.7% more against 2018). For the reporting period company's liabilities grew almost by 5% up to AZN 700,000, while its balance sheet capital by 3.1% up to AZN 1.62 bn.