In 2013 JSC Azeristiliktechizat suffered a loss of 32.6 million manats

State Agency for Procurement of Thermal Energy, Azeristiliktechizat opened its financial statements for 2013, according to which its loss from operations amounted to 32.5857 million manat.

Losses for the year increased by 4 million 758 thousand manats. In this, the company’s outstanding losses for the year rose from 81 million to 87.5 million manat. The audit (LLC Premium Audit) found that the financial statements truly reflected the situation in accordance with national accounting standards.

In 2013, for the production of thermal energy totaling 6 million manats there was spent 37.3 million manat. Production costs for the year increased by 8.1%.

With the accounts receivable totaling 17.8 million manat, the financial liabilities of the company amount to over 75.4 million manat. Mainly due to public investment in the development of district heating system long-term assets of the company for 2013 increased 25.7% to 147.7 million manat.

JSC Azeristiliktechizat was created in June 2005. It mainly serves settlements, including Baku and regions. In the autumn-winter season 2012-2013 (data for this winter season are not available), it served 2,819 residential and administrative buildings (including 2,579 in Baku), 267 schools, 146 kindergartens, 134 health facilities and other objects (350). On the balance sheet of the company, there are 425 boiler plants. - 08D-

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