17:47 - 25.06.2023

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June 25, Fineko/abc.az. SOCAR provides data in company's consolidated financial report for 2022.

ABC.AZ reports that SOCAR's earnings amounted to AZN 119.228 bn by the end of 2022 (53.8% more than in 2021).

According to SOCAR, the company increased its profit margin from 11.4% to 12.3%, operating profit 1.9-fold up to AZN 9.36 bn the past year and completed 2022 with net profit of AZN 9.4 bn.

"This is the highest indicator since 2008, when the company began preparing consolidated financial statements," the report emphasizes.

The prime cost of SOCAR sales increased by 52.2% up to AZN 104.526 bn for the reported year. Company's profit tax payments to the State Budget of Azerbaijan for 2022 grew by 23.8% up to AZN 1.439 bn.

SOCAR’s total assets increased by 16.5% up to AZN 80.835 bn for 2022. In particular, SOCAR's current assets grew by 39.6% up to AZN 33.4 bn, and long-term assets by 4.4% up to AZN 47.4 bn.