Azercell Received Nearly 130 Million Manat of Net Profit Last Year
The total revenues for local mobile operator LLC Azercell Telecom amounted to 433,290,000 manat (minus 5.5%), and the expenses were 274 831 000 manat (minus 10.3%).
According to the consolidated statement of the financial position of the company last year, the net profit stood at 128.56 million manat. At the same time the operating profit by 1 January amounted to 158.45 million manat. The income tax expense amounted to 32,590,000 manat (minus 3.6%).
The assets of Azercell have grown to 716,762,000 manat (+ 21.7%). This was done mainly at the expense of almost tripling the current assets - up to 224,595,000 manat, while the non-current assets declined slightly to 492.17 million manat.
Symbolically (0.7%) decreased the liabilities - to 74.2 million AZN, but the equity grew by 25% - up to 642.56 million manat.
The authorized capital of the company was unchanged at 42,080,000 manat.
LLC Azercell Telecom (a subsidiary of the Swedish-Finnish group TeliaSonera) was established in 1996. It is the largest mobile service provider with a share of 53% in the local market and covers 99.8% of the republic's territory.
The total number of its subscribers is 4.5 million. --17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review