Sumgayit Chemical Industrial Park’s income, expenses drop nearly 20%

The Sumgayit Chemical Industrial Park LLC, owned by the Ministry of Economy, earned AZN18,574,000 in 2020. Report says, adding that this is 16.15% less than in 2019, citing the agency’s financial report.

Some AZN18,534,000 of the Sumgayit Chemical Industrial Park’s income in 2020 came from main operating income and AZN40,000 from other operations. This is 16%, or 2 times less, respectively, as against the previous year.

In 2020, the expenses of the state company decreased by 18% compared to 2019 and amounted to AZN18,154,000. In particular, the company’s expenses on used material resources decreased by 3 times to AZN49,000, personnel expenses increased by 72.7% to AZN3,414,000, depreciation costs decreased by 6.2% to 4,175,000, while other operating expenses decreased by 33.3% to 10,119,000 and other operating expenses increased by 3.1%, amounting to AZN398,000.