Holcim Azerbaijan OJSC, the largest cement producer in the country, reported a 4.3 fold decline in its net profit at 2.15 million manats ($694,000) in 2020.

The company’s assets dropped by 4.5 percent year-on-year to 292.831 million manats, while liabilities declined by 9.5 percent to 151.532 million manats.

The sales revenues declined by 16 percent year-on-year to 100.716 million manats, cost of sales  – by 9.9 percent to 59.118 million manats, delivery costs – by 23.5 percent to 15.279 million manats, general and administrative expenses – by 20.4 percent to 8.593 million manats, sales expenses by 45.8 percent to 2.287 million manats.

Holcim Azerbaijan was established in 2000. Its authorised capital is 31.813 million manats. Swiss Lafarge Holcim owns 76 percent of the shares, while Holcim Auslandbeteiligungs GmbH – 10 percent and 14 percent are owned by individuals.