Loss of Agroleasing Grows

State JSC Agroleasing announced in the press the financial balance for 2012, according to which its loss increased compared to the previous year by 67% and amounted to 1 340.9 thousand manats. Total unallocated loss to the beginning of this year was more than 9.2 million manat.

In 2012, the company had operating income from sales in the leasing of agricultural machinery and fertilizers, as well as services to farmers and agricultural businesses, totaling more than 94 million manat, which is 51.4% more than in 2011. In this case, taking into account the cost of services (88.6 million manat) of the total income of Agroleasing amounted to 5,473,000 manats. However, operating expenses (1,089,000 manats), administrative expenses (2,773,000 AZN) and depreciation (2,951,000 AZN) have led to losses of the company.

At the beginning of this year, buildings, facilities and equipment of JSC Agroleasing were estimated at more than 34 million manat. The company also expects the payment of debts totaling 254 million manat from sales of equipment, production lines, etc. Obligations of Agroleasing are AZN 13 million less than this amount.

Last year, the authorized capital of Agroleasing was increased from 75.5 million to 120.5 million manat. However, given the loss, its capital is estimated at 112 million manats. - 08D-