Financial results of AzerGold CJSC and its subsidiaries for 2024

The financial reports of AzerGold CJSC and its subsidiaries – Dashkasan Iron Ore LLC and AzerBlast LLC, for 2024 have been announced.

Based on the positive opinion by the internationally known independent audit company PricewaterhouseCoopers, the Company and its subsidiaries demonstrated positive trends in joint financial results. Having completed the year with increased revenues and profit, the Company fortified its position across each performance indicator.

Overall, sales revenues increased by 35% in 2024 compared to 2023, reaching 182.69 million US dollars. The sales of valuables in the reporting year increased by 9%, consisting of 70.5 thousand ounces of gold and 97.5 thousand ounces of silver.

In 2024, as a result of increased production and sales revenues, the EBITDA of AzerGold CJSC and its subsidiaries increased by 27.5% and reached 89.88 million US dollars. Consequently, net profit increased by 21.3% in 2024 compared to 2023 and amounted to 33.02 million US dollars.

The value of the total assets of the Company for 2024 is in the amount of 488.35 million US dollars, which means an increase of 4.3% compared to the same period of 2023.

Furthermore, the net working capital of AzerGold CJSC and its subsidiaries in 2024 increased by 3.1% and reached 105.22 million US dollars, and the total capital increased by 26% and amounted to 399.78 million US dollars.

These performances of AzerGold CJSC and its subsidiaries for the year 2024 confirm the strong financial sustainability of the state-owned company and its subsidiaries.

Follow the link to get detailed information on the consolidated financial results for 2024.