Azeraluminium's net profit nearly sixtuples y-o-y reaching 17.6M manats

Azerbaijan Investment Holding–managed Azeraluminium LLC ended 2024 with a net profit of 17.56 million manats ($10.33 million) - 5.7 times higher than in 2023, according to the company's financial report cited by Report.

The company's sales revenue totaled 249.33 million manats ($146.66 million), marking a 0.8% increase year-on-year. The cost of sales dropped by 5.3% to 223.31 million manats ($131.35 million).

General and administrative expenses rose by 14.5% to 6.53 million manats ($3.84 million), while selling and distribution costs decreased by 48.8% to 3.02 million manats ($1.78 million).

Expected credit loss recovery jumped 3.1 times to 3.74 million manats ($2.2 million). Other income declined by 45.3% to 1.6 million manats ($941,176). Income tax payments rose 3.8 times to 4.27 million manats ($2.5 million).

As of January 1, 2025, the company's total assets stood at 383.73 million manats ($225.72 million) - a 4.5% annual increase. Liabilities decreased by 4% to 22.92 million manats ($13.48 million), while equity rose by 5.1% to 360.8 million manats ($212.2 million), including a slight rise in charter capital to 282,264 million manats ($166,037).