The company supplying thermal energy Azeristiliktechizat has disclosed its financial statements for 2011, according to which its losses from business activities amounted to 9,253,000 manat. The causes of loss-making are not reported in the audit report.
According to the press statement of the financial position on the first of January this year, the losses of Azeristiliktechizat reached 66.8 million manat. The accounts receivable totaling 12 million manat, the financial obligations of the company are 78 million manat. Mainly due to government investment in the development of heat supply system, the assets of the company for 2011 increased by 22% and reached 141.5 million manat.
In 2011, on the production of thermal energy at a total of over 3 million manat there was spent 7.8 million manat. In this case, the administrative and other expenses of Azeristiliktechizat for the year were 19.4 million manat, AZN 4.5 million more than in 2010.
JSC Azeristiliktechizat has acted for about five years. It primarily caters to villages on the Absheron peninsula. - 08B -
Economics
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