AzAlternativeEnerji’s loss nears AZN 14M

Baku. 25 December. REPORT.AZ/ As of January 1, 2018, the assets of AzAlternativeEnerji LLC acting within the State Agency on Alternative and Renewable Energy Sources stood at AZN 44.857 million, down 6.95% from the previous year, Report informs citing the financial statement of the LLC.

In 2017 the current assets rose by 1% to AZN 203,000, while long-term assets dropped by 7% to AZN 44.654 million.

Total liabilities surged by 60% to AZN 37,000, total capital fell by 7% to AZN 44.82 million.

Operating incomes amounted to AZN 340,000 (+29.3% against 2016), revenues on allocations from the state budget – to AZN 2.5 million (-25.4%), expenditures on human resources – to AZN 2.121 million (-11.1%), operating expenditures – to AZN 344,000 (-59.1%), other general and administrative expenditures – to AZN 385,000 (-40.95%), fixed assets and amortization costs of non-material assets – to AZN 3.389 million (+4.2%).

Consequently, the LLC ended 2017 on loss of AZN 3.4 million, down 4.1% in comparison to a year earlier. The accumulated loss reached AZN 13.728 million.

AzALternativEnerji was established in 2015. Its authorized capital is AZN 51.483 million.