12:33 - 4.03.2025

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March 4, Fineko/abc.az. The net profit indicator of Azerpambıq Aqrar Senaye Kompeksi LLC in 2022 amounted to 26.7 million manats, and in 2023 - 8.39 million manats.

ABC.AZ informs, referring to company's financial statements, that this means a reduction.

The total income of Azerpambıq in 2023 amounted to 64.14 million manats, which is almost half as much as in 2022 (120.36 million manats). In addition, the revenue did not even cover the cost of sales and production in the amount of 65 million manats.

The main decrease was observed in revenue from the sale of cotton fiber. In 2023, this figure reached 34.66 million manats, and in 2022 – 86.30 million manats. Revenue from the sale of cotton seeds also fell from 17.23 million manats to 12.11 million manats. There is also a sharp decline in other incomes.

The main cause of the decline is the earthquake in Turkey in 2023. As a result of the earthquake, Turkish companies' demand for cotton fibers decreased, which reportedly had negative impact on company's sales.