15:27 - 30.05.2024

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May 30, Fineko/abc.az. Azerbaijan Caspian Shipping Company (ASCO) CJSC completed 2023 with net profit of 43.685 million mantas.

ABC.AZ reports with reference to ASCO's financial statements that the indicator is 33.2% less against 2022.

In 2023, ASCO's core operating income amounted to 524.195 million manats (8% less than a year earlier), cost of sales - 375.113 million manats (1.5% more), general and administrative expenses - 60.921 million manats (16.8% more), social expenses - 9.506 million manats (10.9% more), other operating income – 50.49 million manats (by 53.8%), other operating expenses — 67.259 million manats (by 4.2% less), expected loan losses - 1.05 million manats (by 87.3% less), income from write-off of fixed assets — 74,000 manats (loss 1 year ago), losses from exchange rate difference - 1,688 manats (2-fold more), financial expenses - 9.62 million manats (7.9-fold more), income from shares in joint ventures - 6.761 million manats, and income tax payments - 12.677 million manats (52.4% less).

As of January 1, 2024, ASCO's assets amounted to 1.743 bn manats (30.6% more than a year ago). Company's liabilities increased by 89.9% and reached 307.107 million manats, and balance sheet capital by 22.4% up to 1.436 bn manats.

ASCO was established in 2014. The company is 100% owned by the state.