16:06 - 26.02.2026

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February 26, Fineko/abc.az. Kristal Bakı OJSC, which is engaged in the construction and sale of residential buildings and cooperates with Kristal Abşeron, completed 2024 with net loss of 3.27 million manats. Although this is less than the loss of 15.45 million manats in 2023, there is deficit in company's capital.

ABC.AZ reports that the accumulated loss grew from 30.13 million manats in 2023 up to 33.41 million manats in 2024. The total contribution of shareholders is 1 million manats. As a result, capital remains negative, and the total deficit has reached 32.41 million manats.

The main cause of losses was an increase in operating and financial expenses. Despite growth in revenue up to 58.38 million manats, high cost and administrative costs continue to put pressure on profitability. As in 2023, the operating loss in 2024 amounted to 7.2 million manats. Financial expenses increased up to 20.06 million manats, which negatively affected the result and led to pre-tax loss of 4.09 million manats.

Company's assets increased from 445.2 million manats up to 668.72 million manats, mainly due to a rise of inventories of facilities under construction up to 441.71 million manats and increase in advances on long-term assets. At the same time, liabilities grew faster, from 475.32 million manats up to 701.13 million manats, exceeding the growth rate of assets.