JSC Holcim-Azerbaycan announced the annual report in accordance with IFRS

Leading cement producer in Azerbaijan, Holcim (Azerbaycan), released a financial report for 2013 by the International Financial Reporting Standards. Last year's net profit rose by 35.3 %.

The report shows that the production of cement is enough profitable occupation. Last year, proceeds from the sale of cement amounted to 176.5 million manat, which is 19.8 million or 12.6% more than in 2012. While the cost of cement production was approximately 69 million manat is increasing only 2.4%.

Last year, general and administrative expenses of Holcim increased by AZN 5 million and reached 14.7 million manat. The plant supplies its products to customers by vehicles and last year it costs totaled AZN 16.5 million, an increase of 1 million manats.

At the cost of production cost of paying wages to production workers in 2013 amounted to more than 7 million manat. On administrative staff salaries were sent 4.87 million manat.

By the end of 2013 was paid profit tax amounting to 13.5 million manat. Thus, the company's net profit amounted to 51 588 million manats. At a March 14 general shareholders' meeting, it was decided to send profits to pay dividends, which are not issued in the second quarter of 2009.

In the past year due to the aging property, assets of Holcim (Azerbaycan) declined from 413.8 million to 394.8 million manat. Retained profit reached at the beginning of January 2014 243.9 million manat.

In the 2009-2012 year was upgraded Garadagh cement plant, including the expense of borrowed loans. Today, the power plant, employing 424 people, makes up 1.7 million tons per year. At the beginning of this year, the plant has a debt of long-term loans in the amount of 41.7 million manat and current liabilities for loans in excess of 31 million manat. These debts are repayable within the next few years.

Financial statement audit opinion cement plant gave international company Ernst & Young (CIS) BV.

Company Holcim ltd (Switzerland) of privatized Holcim (Azerbaycan) (formerly Qaradag Cement) in September in 1999. Later, she has sold 10% stake in EBRD (December, 2006) and the state of AIC (February, 2008). Now Holcim ltd owns 66% stake in the company. Its subsidiary - Holcim Auslandbeteiligungs GmbH, owns 3.62 % of shares. The remaining 10.38 % of the shares are distributed among minorities. Most members of the labor collective of JSC who have acquired shares for every 186 in 1998, giving 1 share privatization (4 vouchers) . Today, their stake is worth at BSE 71,238 manat, then in time, the market price of privatization share for the time of his conversion (1997-2010 years) did not rise above 100 U.S. dollars.

JSC Holcim (Azerbaycan) is an example of commitment to corporate reporting requirements can not be said about 95% of joint stock companies in Azerbaijan. - 08B-