Revenues of EVRASCON Rise by 53.6%, while Margin Decline

In 2014, JSC Euro-Asian Construction Corporation EVRASCON has achieved the highest indicator of its activity since incorporation in 2001. The revenues totaled 390 million 498.5 thousand manats that is 136.3 million manats or 53.6% more than in the previous year.

At the June 28 general meeting of shareholders of the corporation EVRASCON it was noted that the volume of the contract work executed in Azerbaijan and outside amounted to 389.9 million manats (without VAT). In addition, it has sold concrete and reinforced concrete structures at the total amount of 554 thousand manats.

The balance profit of the company amounted to 5 million 423.7 thousand manats. The profitability of the corporation for the previous year amounted to 1%. In the previous year the figure was 1.5%.

The corporation is not involved in the capital market and actively uses commercial loans. As of 1st January 2015 it had debts to banks in the amount of 67.5 million manats. Last year, the cost of bank loans amounted to 16.4 million manats.

Net fixed assets of EVRASCON are 97.5 million manats.

At the general meeting it was decided to allocate to the shareholders a dividend in the amount of AZN 1 per share. The remaining 4.1 million manats were sent on the recommendation of the Supervisory Board for the purchase of new vehicles.

In circulation there are over 180 thousand ordinary shares of JSC EVRASCON (1 share - AZN 2), 51% of which are owned by Ismail Efendi Ismiyev. ----08B