Net profit of Canub Qaz Dehlizi CJSC (CQD, South Gas Corridor, a managing company from Azerbaijan) at the end of 2020 amounted to $ 18.739 million against a net loss in 2019 of $ 306.209 million, according to the audited financial statements of the company for 2020.
CQD’s revenues for 2020 amounted to $ 861.551 million (an increase of 1.9 times), cost of sales – $ 295.534 million (an increase of 19.5%).
At the end of 2020, the operating profit of the company amounted to $ 363.738 million (an increase of 2.9 times); the financial expenses of CQD amounted to $ 395.505 million (a decrease of 10.1%).
As a result, the pre-tax profit of the company at the end of 2020 amounted to $ 21.207 million against the pre-tax loss a year earlier at the level of $ 279.68 million.
According to the reporting data, the assets of CJSC “Canub Qaz Dehlizi” at the end of 2020 are estimated at $ 12 billion 676.671 million (an increase of 0.2%), including short-term assets – $ 495.849 million (an increase of 50.9%), long-term assets – $ 12 billion 180.822 million (decline by 1.2%).
Liabilities of CQD CJSC at the beginning of 2021 amounted to $ 9 billion 449.076 million (at the level of 2019), including short-term – $ 1 billion 65.931 million (an increase of 3.3 times), long-term – $ 8 billion 383.145 million (a decline of 8.1 %).
The capital of the company at the end of 2020 is $ 3 billion 227.595 million (an increase of 0.6%), including the share capital – $ 2 billion 415.8 million (unchanged).
CQD CJSC was established in 2014 to manage effectively the components of the Southern Gas Corridor project. The share of SOCAR in the capital of the company is 49%, of the state – 51%.
Caspian Barrel
