SOCAR ends 2019 at a profit

The State Oil Company of Azerbaijan (SOCAR) has released the consolidated financial statement for 2019, Report informs.

The statement has received positive feedback from an international audit company, "Ernst & Young Holdings (CIS) B.V."

SOCAR closed 2019 year at a profit. According to the audited financial statements, the total profit amounted to AZN 5.8 billion, net profit to AZN 651 million, current assets to AZN 19.2 billion, and current liabilities to AZN 17.3 billion. The long-term assets made up AZN 46.2 billion, long-term liabilities – AZN 23.8 billion. In the reporting period, total capital exceeded AZN 24.3 billion, and cash reached AZN 7.1 billion.

SOCAR's current assets and liabilities declined by less than 1%.