Official press published consolidated statement of Joint Stock Company Azerenergy last year. According to official data, the net profit of the state monopoly on the production of electricity was 84 million 589 thousand manats (minus 46.3% in comparison with the results of 2012). Pretax profit is 130 million 607 thousand manats (8.3 %). Total retained earnings as of January 1 of this year are 224 million 475 thousand manats (+ 60.4%).
The main part of the assets (5 billion 518.91 million manat) refers to long-term investments - 5 billion 20.25 million manat. Shareholders' equity amounted to 2 billion company 201.58 million ( + 8.9%). Share capital since early last year is 1 billion 760 million 495 thousand manats.
The level of investments decreased by 19.2% - to 262 million 987 thousand manats. Liabilities JSC in 2013 increased by 0.09 % - up to 3 billion 317 million 331 thousand manats.
Total revenues for the company last year amounted to 743 million 252 thousand manats (minus 0.9 %) , operating profit of 92.11 million ( 3 %).
Under the law, all public organizations, regardless of activity required to submit before May 1, public financial reports. However, not all responsible agencies operate provisions of the Charter. - 17D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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