Revenues of Baku Metro from passenger transportation up by over 20%

As of Jan. 1, 2019, the total assets of Azerbaijan’s Baku Metro CJSC amounted to 2.409 billion manats, which is 4.8 percent more than in the same period last year, reads the annual financial report of Baku Metro CJSC, Trend reports June 28.

In 2018, the total liabilities of the Baku Metro increased by 0.7 percent, reaching 57.051 million manats, total capital increased by 4.9 percent and amounted to 2.352 billion manats, the authorized capital increased by 6.3 percent, reaching 2.779 billion manats.

During this period, the income from passenger transportation of the company amounted to 54.186 million manats (22.25 percent more compared to 2017), subsidies received from the state budget amounted to 48.8 million manats (8.45 percent more), other incomes stood at 5.763 million manats (8.25 percent more), the cost of used material resources – 6.643 million manats (8.8 percent more), the cost of used oil products – 467,000 manats (12 percent more), the cost of used electricity – 11.408 million manats (0.2 percent less), the cost of used gas amounted to 225,000 manats (8.7 percent more), the cost of used water amounted to 4.117 million manats (1 percent less).

This is while the cost of working personnel amounted to 44.195 million manats (7.45 percent more), depreciation expenses on land, construction and equipment – 85.144 million manats (4.65 percent more), depreciation expenses on intangible assets – 123,000 manats (22.15 percent less), residual value of construction and equipment stood at 833,000 manats ( 10.7 percent less), others expenses – 6.857 million manats (11.7 percent more), other operating expenses amounted to 3.609 million manats (24.6 percent less).

The Baku Metro completed 2018 with a net loss of 54.871 million manats, which is 11.75 percent less compared to last year. However, the accumulated damage to the structure increased by 14.8 percent, reaching 426.61 million manats.

(1.7 manats = 1 USD on June 28)