During 2014 net profit of State Oil Company of Azerbaijan (SOCAR) totaled 1,274,000,000 AZN, up 25% against 2013 (1,019,000,000 AZN), reads the consolidated financial report of the company for 2014.
SOCAR’s financial activities during 2014 have been audited by Ernst & Young company.
In 2014 SOCAR’s incomes totaled 39,674,000,000 AZN (38,433,000,000 AZN in 2013 – growth by 3.2%).
In 2014 the company’s profit from the operation activities totaled 1,798,000,000 AZN (growth by 8.9%). In 2014 the allocations of profit tax to the budget totaled 465,000,000 AZN (growth by 4.7%).
In 2014 SOCAR’s assets increased by 4.4% up to 24,067,000,000 AZN. In 2014 the company’s long-term assets increased by 7.2% up to 16,269,000,000 AZN and short-term assets decreased by 0.9% to 7,798,000,000 AZN.
In 2014 SOCAR’s capital increased by 8.1% up to 11,057,000,000 AZN. The authorized capital of the company is equal to 1,496,000,000 AZN (growth by 13.7%) and total undistributed profit – 8,348,000,000 AZN (growth by 10.5%).
In 2014 the company’s liabilities increased by 1.5% up to 13,010,000,000 AZN. By early this year long-term liabilities of SOCAR totaled 6,119,000,000 AZN (growth by 24.7%), while the current liabilities – 6,891,000,000 AZN (decline by 12.9%).—0—
Economics
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Azerbaijan Railways CJSC (AZD) transported 713,699 passengers in January 2025, marking a 15% increase compared to the same period last year, the company said on Tuesday.
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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